Should I apply for Chase and which card?

[Anonymous]

Hi.Newb here. Just starting my credit rebuilding journey after manmany mistakes in my 20's and 30's. My question - what is it about his profile that Chase would not like?  I've never had a Chase card and once I get my FICO scores to at least 650, would like to apply for the Freedom. Any advice on how my profile should look before attempting? 

[coldfusion]

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@Anonymous wrote:

@randomguy1  Hi. Newb here. Just starting my credit rebuilding journey after manmany mistakes in my 20's and 30's. My question - what is it about his profile that Chase would not like?  I've never had a Chase card and once I get my FICO scores to at least 650, would like to apply for the Freedom. Any advice on how my profile should look before attempting? 

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Let's focus on your profile first. 

Do you have a BK reporting?  If you do, forget about Chase until the BK has fallen off of your credit reports because it's an automatic denial and they don't make exceptions. 

If no BK reporting, what are your other derogs and how recent are they?

What other cards do you currently hold and what month/year did you acquire them? 

FYI the odds of a successful application for a Chase card with an EX FICO 8 of 650 would not be good. 

[Anonymous]

@coldfusion  Thankfully, no BK but I do currently have 6 CO's all within the past 4 years which I'm sure is just as bad:

Capital one $2300 - currently on payment plan

Capital one $850 - currently on payment plan

First premier $509 - will be paying in full next week

WF $300 - paid in full earlier this year 

Discover $212 - paid in full today 

Citibank $300 - Settled  earlier this year

I know....it's really bad. I don't have any open revolver accounts right now. I have a 13k auto loan, no lates and student loans - no lates.

My plan right now is wait and see what increase I get with paying off the discover and FP COs, and then applying for a BoA secured card and a Citibank secured card again (hopefully) next month. 

I know it's going to be a long journey due to my mistakes, but I recently got a job with a great income (120k annually) so now it's time to get this credit fixed once and for all. 

Current fico 8 scores

EXP 566

EQ 524

TU 541

what should I expect since I'm pretty much starting from scratch? 

[Remedios]

@Anonymous you posted in a very old thread. I've separated your question and started a new thread for you, so you can get some help. 

Welcome to the forums. 

[K-in-Boston]

Once the dust settles on your paid charge offs for FP and Discover, I'd go for the two secured cards you mentioned.  Use them, pay them in full each month, and continue making on time payments on your other chargeoffs and loans.  Don't apply for anything else for at least 6 months and then revisit where your scores and profile are.

[Citylights18]

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@Anonymous wrote:

Hi.Newb here. Just starting my credit rebuilding journey after manmany mistakes in my 20's and 30's. My question - what is it about his profile that Chase would not like?  I've never had a Chase card and once I get my FICO scores to at least 650, would like to apply for the Freedom. Any advice on how my profile should look before attempting? 

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Never heard of witch card.

Must be geofenced around Sleepy Hollow.

[Anonymous]

Apply for Chase. Avoid the witch card.

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@Anonymous wrote:

Hi.Newb here. Just starting my credit rebuilding journey after manmany mistakes in my 20's and 30's. My question - what is it about his profile that Chase would not like?  I've never had a Chase card and once I get my FICO scores to at least 650, would like to apply for the Freedom. Any advice on how my profile should look before attempting? 

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[sxa001]

I agree with the others, Chase is a fairly conservative lender compared to some, I would get the secured cards and work to improve your scores and profile before trying for any Chase cards. 

[K-in-Boston]

Quick PSA: Typo does not belong to OP.  This is a new thread split off from a reply.