I'm thinking of applying for Chase Freedom and need help.

[Anonymous]

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@Kevin86475391 wrote:

Personally, my advice would be to wait. I tend to think 2 new cards in 7 months is a lot to begin with, but for someone with only 7 months history total I think that's especially fast. I'd strongly recommend just slowing down and waiting at lease 1-2 years before applying for anything else. In the meantime focus on gardening and growing your QS and IT credit limits and histories.

Many people will tell you you don't need both the Freedom and the It anyway because they're so similar. Personally, I love having both the Freedom and the It and they're two of my favorite cards, but I got them years apart. I definitely wouldn't have pushed for an app on the second one within a short time of getting the first. While the quarters often don't align...they often do. Having both is nice IMO, but definitely not a necessity for someone with new credit. Remember thin, young reports like yours are even more affected by inquiries and new accounts than thicker, established files. Credit is a marathon not a sprint. My advice is to slow down and pace yourself.

But that's just my advice and I freely admit I'm very conservative in credit matters. Good luck with whatever you do and regardless, congrats on getting the QS and It! Those are fantastic cards by any standards and outstanding for someone to get as starter cards! Way to go! It sounds like you're doing great so far!

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I agree with you. I'm very hesistant on the credit inquiries and all. I'm going to take your advice and garden for a while. What cards do you have if you don't mind me asking? Thank you for your insight.

[Anonymous]

Decided to login before my class in a couple minutes to give you my experience. Turned 18 in july last year. Denied for freedom, but I got the first three cards in July. When it came November, I got both the chase AARP and freedom with one hard pull. You can see the limits below. Note, I had a banking history with Chase and an inflated AU history.

[Kevin86475391]

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jeahbebe wrote: I agree with you. I'm very hesistant on the credit inquiries and all. I'm going to take your advice and garden for a while. What cards do you have if you don't mind me asking? Thank you for your insight.

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Sure thing. I like to keep my info semi-private and so don't put it in my signature, but I'm happy to post it in the occasional thread.

I have:

DIscover It - Use for 5% categories

Chase Freedom - Use for 5% categories

BofA Cash Rewards - Use for 3% on Gas & 2% on groceries

Chase Sapphire Prefered - Use for 2% on restaurants

Target Red Card Store Card - Use for 5% off. Target's my main place to shop for nonperishables

Citi Double Cash - Use for 2% on everything else, especially bills

US Bank Cash Rewards - Don't really use anymore. It's the only card in my lineup I don't particularly like.

I have a personal rule of not apping for any cards more frequently than once every 12-24 months and not exceeding more than 2 inquiries on any report. I PIF and keep utilization very low on all cards. Fico 8 scores 800+ across all three bureaus.

[Anonymous]

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@Kevin86475391 wrote:

Personally, my advice would be to wait. I tend to think 2 new cards in 7 months is a lot to begin with, but for someone with only 7 months history total I think that's especially fast. I'd strongly recommend just slowing down and waiting at lease 1-2 years before applying for anything else. In the meantime focus on gardening and growing your QS and IT credit limits and histories.

Many people will tell you you don't need both the Freedom and the It anyway because they're so similar. Personally, I love having both the Freedom and the It and they're two of my favorite cards, but I got them years apart. I definitely wouldn't have pushed for an app on the second one within a short time of getting the first. While the quarters often don't align...they often do. Having both is nice IMO, but definitely not a necessity for someone with new credit. Remember thin, young reports like yours are even more affected by inquiries and new accounts than thicker, established files. Credit is a marathon not a sprint. My advice is to slow down and pace yourself.

But that's just my advice and I freely admit I'm very conservative in credit matters. Good luck with whatever you do and regardless, congrats on getting the QS and It! Those are fantastic cards by any standards and outstanding for someone to get as starter cards! Way to go! It sounds like you're doing great so far!

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Good advice but keep in mind for someone starting out, a rule of thumb is to have at lease 3 credit cards to maximize one's credit profile.  But like everything else, it is entirely up to OP.

That being said, everyone's weekend is off to a good start.

[Anonymous]

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@Kevin86475391 wrote:

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jeahbebe wrote: I agree with you. I'm very hesistant on the credit inquiries and all. I'm going to take your advice and garden for a while. What cards do you have if you don't mind me asking? Thank you for your insight.

---

Sure thing. I like to keep my info semi-private and so don't put it in my signature, but I'm happy to post it in the occasional thread.

I have:

DIscover It - Use for 5% categories

Chase Freedom - Use for 5% categories

BofA Cash Rewards - Use for 3% on Gas & 2% on groceries

Chase Sapphire Prefered - Use for 2% on restaurants

Target Red Card Store Card - Use for 5% off. Target's my main place to shop for nonperishables

Citi Double Cash - Use for 2% on everything else, especially bills

US Bank Cash Rewards - Don't really use anymore. It's the only card in my lineup I don't particularly like.

I have a personal rule of not apping for any cards more frequently than once every 12-24 months and not exceeding more than 2 inquiries on any report. I PIF and keep utilization very low on all cards. Fico 8 scores 800+ across all three bureaus.

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Awesome arsenal!

[Kevin86475391]

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@Anonymous wrote:

Good advice but keep in mind for someone starting out, a rule of thumb is to have at lease 3 credit cards to maximize one's credit profile.  But like everything else, it is entirely up to OP.

That being said, everyone's weekend is off to a good start.

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That's certainly a great point. Personally, I tend to apply it as 3 eventual cards to maximize credit profile and tend to feel like it's preferable to acquire them more slowly over a year or two, but defintiely that's just my opinion and I wish the OP best of luck either way.

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@Anonymous wrote:

Awesome arsenal!

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 Thanks!

[Anonymous]

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@Kevin86475391 wrote:

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@Anonymous wrote:

Good advice but keep in mind for someone starting out, a rule of thumb is to have at lease 3 credit cards to maximize one's credit profile.  But like everything else, it is entirely up to OP.

That being said, everyone's weekend is off to a good start.

---

That's certainly a great point. Personally, I tend to apply it as 3 eventual cards to maximize credit profile and tend to feel like it's preferable to acquire them more slowly over a year or two, but defintiely that's just my opinion and I wish the OP best of luck either way.

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@Anonymous wrote:

Awesome arsenal!

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 Thanks!

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One day I hope to have an arsenal as awesome as yours!

[Anonymous]

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@Anonymous wrote:
I'm thinking of applying for Chase Freedom just got approved for Discover It 2 weeks ago. My scores are in the 720's. I have 7 back months of credit history. PIF every month. 0% Utilization. I wonder what are my chances of being approved?

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So funny you bring this up.  I got my Discover It and my Chase Freedom at the same time thinking I'd use each for their 5% categories.  As it turns out they've been copying each other in their bonus categories that I haven't used my Freedom in the last year.  I'm honestly kinda regretting getting it due to the HP and drop in AAoA.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
I'm thinking of applying for Chase Freedom just got approved for Discover It 2 weeks ago. My scores are in the 720's. I have 7 back months of credit history. PIF every month. 0% Utilization. I wonder what are my chances of being approved?

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So funny you bring this up.  I got my Discover It and my Chase Freedom at the same time thinking I'd use each for their 5% categories.  As it turns out they've been copying each other in their bonus categories that I haven't used my Freedom in the last year.  I'm honestly kinda regretting getting it due to the HP and drop in AAoA.

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I was looking at the grocery aspect and if the categories don't match which it seems like they do 2 out of the 4 quarters this year. So would you suggest something else? If so, what? 

[Anonymous]

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@Anonymous wrote:

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@Kevin86475391 wrote:

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@Anonymous wrote:

Good advice but keep in mind for someone starting out, a rule of thumb is to have at lease 3 credit cards to maximize one's credit profile.  But like everything else, it is entirely up to OP.

That being said, everyone's weekend is off to a good start.

---

That's certainly a great point. Personally, I tend to apply it as 3 eventual cards to maximize credit profile and tend to feel like it's preferable to acquire them more slowly over a year or two, but defintiely that's just my opinion and I wish the OP best of luck either way.

---

@Anonymous wrote:

Awesome arsenal!

---

 Thanks!

---

One day I hope to have an arsenal as awesome as yours!

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I have a question that I just thought of since I remember reading you have the Citi Double Cash. I've heard mixed reviews on it. I've read alot of complaints of people having trouble getting the second 1% back if they pay their balance too early and that need to allow the purchases to show up in the purchase tracker in order for you to get the second 1% so on and so forth. Could you explain if you don't mind?