Should I app for Chase Freedom?

[Anonymous]

Hello Members,

I have been a regular reader for a while now. Here is my profile:

StateFarm Student Visa- $500 since Feb-2013

Discover Student - $750 since June-2013

Cap 1 Student - $500 since July 2013

All cards have always been PIF and never let more than 20% report to my statement.

Credit Karma- 673, Credit Sesame- 697

Total hard enquiries - 10 [4 between Dec 12 to Feb 13 when I got SF, other 4 in June 13 when I got Discover, 2 in July]

While being a student I had a little difficulty in obtaining my first few cards. Since last 3 months, I have kept my CR clean with no hard pulls and utils always below 20%. I was denied for chase amazon in May/June due to low AAoA. Citi forward was also rejected just because of too many recent enquiries. My annual income is around 25k.

I thought to wait a couple months more to app for the following:

Citi Forward

Chase Freedom

Barclaycard Lufthansa

I used to check pre approval offers with Chase since they already have my details, but there used to be nothing.
Recently checked for pre approval offer on chase, and it showed freedom and slate for me, I am not sure about citi.

I want the freedom, should I go ahead? Or any other recommendations.

[myjourney]

---

@Anonymous wrote:

Hello Members,

I have been a regular reader for a while now. Here is my profile:

StateFarm Student Visa- $500 since Feb-2013

Discover Student - $750 since June-2013

Cap 1 Student - $500 since July 2013

All cards have always been PIF and never let more than 20% report to my statement.

Credit Karma- 673, Credit Sesame- 697

Total hard enquiries - 10 [4 between Dec 12 to Feb 13 when I got SF, other 4 in June 13 when I got Discover, 2 in July]

While being a student I had a little difficulty in obtaining my first few cards. Since last 3 months, I have kept my CR clean with no hard pulls and utils always below 20%. I was denied for chase amazon in May/June due to low AAoA. Citi forward was also rejected just because of too many recent enquiries. My annual income is around 25k.

I thought to wait a couple months more to app for the following:

Citi Forward

Chase Freedom

Barclaycard Lufthansa

I used to check pre approval offers with Chase since they already have my details, but there used to be nothing.
Recently checked for pre approval offer on chase, and it showed freedom and slate for me, I am not sure about citi.

I want the freedom, should I go ahead? Or any other recommendations.

---

Welcome to the forum

IMHO wait another 4 months for at least a total of 6 or more months of gardening then apply for the freedom

FYI Chase likes to see a year of CC history

[Meltdownblitz]

Honestly in my opinion I'd say you have a decent chance. Chase doesn't seem very strict on their underwriting for the freedom since they give limits as low as $500 from what I've heard. And I believe I picked up that card when I was around your FICO score range. I'd say go for it!

[colinstu]

Like some of the other posters said, I'd hold off for a few more months & just keeping your cards util low & PIF. At least wait until you've had the State Farm card for a year. 

Discover should help you get a CLI within the year & Cap1 might too. I got an auto CLI from Cap1 after 4 months (possibly 6) of usage, util never went over 30% on it and was my only card (first) at the time. Went from $500 to $750 automatically (didn't even need to hit any buttons). 

The CC game can be quiet exciting, and it can be hard to garden at times, but I think it will help. The semi-recent denial with the Citi Forward won't help your chances if you try to app again months later. I love my Forward personally. The Freedom is also a nice card, but some of the 5% categories can overlap with the Discover IT card... so some of the benefit is negated. The Forward's 5x points on entertainment/restaurants (including fast food) is hard to beat, and the rewards can be easily linked to Amazon when checking out (and can be used with any level of points you have at the time... unlike Discover where you need $25-50 before you can start using the rewards). 

[Anonymous]

Thank you all for your responses. I understand this pre approval may be just that I qualify. I have decided to wait a couple more months and give Citi Forward and Freedom a shot.

By December, I will have 5 months of history without any HP and 7 month AAoA with three cards all reporting less than 20%. No negatives shall strengthen my case.

What do you say, atleast wait April to apply for CSP?

[Necromancer]

I think the CSP may be a stretch, I think the lowest credit limit for the CSP is 5,000. The limits you have on your current cards may make Chase hesitant to approve you for 5k.

[09Lexie]

+1

And with your income the CSP would be no value. Sometimes we select cards because they are 'in' and forget what's important ; namely are you getting a real benefit out of the card?

[enharu]

+2. I wouldn't bother with the CSP if I were you. Until your income goes up drastically, the CSP isn't going to be that useful for you. Meeting the signup bonus requirement spend might be hard for you as well without resorting to manufactured spending.

[myjourney]

Good idea to wait and after a year then try for CSP but not before that IMO

[Anonymous]

October got Cap1 CLI to $1000.

Got Freedom ($2200) and BCE ($2000) approved this week. My highest limits yet.