@pizzadude wrote:
@Anonymous wrote:
@clocktick wrote:Which major bank?
J.P Morgan Chase.
Cool !! Thank you for sharing this information ~ perhaps when I next apply for my Paladium card they will tell me to just deposit $5M in the bank and try again...
I read that a normal person with a good score can apply; no need for $5M 
Define "normal" ~ not sure that I am qualified in that department either...
~ not sure that I am qualified in that department either...
@pizzadude wrote:
Define "normal"
Normal as in good credit score, good salary, limited baddies
@Anonymous wrote:I too am hoping the program gets the green light! I'll try to keep in contact with her and update you guys when I can. On an a side note, In Bloomberg Buisnessweek I believe I read that Chase was looking for inroads into the subprime consumer credit market. I'll try to find the article.
Until then,
Cheers!
I'd love to see either the article (I'll go search too), or further updates from your friend. Chase is definitely on my list of future lenders I'd like to do business with, if they offer something in the subprime area where I'm at now, I'd find a way to work that into my dastardly plan of future good credit.
It's not surprising to me that they're looking for inroads into that market though: there are several well known lenders both in traditional banks, non-traditional lenders, and also auto-financing corporations that have done very well over the last several years by selectively chasing the subprime market. It's not a bad idea either, people can turn around their lives way ahead of actually managing to fix their credit score in a meaningful fashion, and I absolutely will continue to do business with any prime lender who helps me get past my sub-prime pain.
@Anonymous wrote:Ran into this friend of mine at church today where she said they were utilizing the Chase Freedom card in a way that would allow sub prime customers in the door along with the GA program. Set for market entry before the holiday season this year. Thought I'd keep you guys updated! I have lunch again with her this Tuesday where I'll see if I can get a little more information.
Hey thanks Induction!
A couple people recently reported (here) that Chase was now allowing some people who had fairly recent BK's to obtain a Freedom, whereas before it was anecedotally known that a 2-3 year old was an absolute no-fly zone with Chase. It appears as though they may be loosening up some, and if they are, I'll happily toss in an additional application come December if it looks like I have any shot to be approved for a Freedom with an expected FICO around 640ish.
I will greatly appreciate any further information you can find out, thanks again!
