Update APPROVED: Applied for Chase Freedom at the bank instead of online

[Anonymous]

So when I had trouble applying for a chase bank account online and was told I had to go into a branch to verify my identification, I went in and was was able to open a Chase Premier Plus checking (woohoo!).  Anyways while going through the process the banker told me that I was qualified and offered a Chase Freedom card so I took her up on that offer and she ended up filling out a form for me that would link that card to my checking.  Signed the disclosure forms and what not on the 24th of this month.

Called the credit card line to check the status of my app on the 25th, got a message stating that they received my app and that I would receive an letter in 2 weeks of their decision. On the 26th got a message stating my app is under review and that I should receive a letter in 7-10 business days to inform me of their decision.  Same message on the 27 and 28th so I called and talked to a banker to ask how long does it take to get a yay or no and was givien the same message.

Wondering if I should call a recon number just to find out?

Credit scores:

Experian: 696

Equifax(FICO): 687

Trans: 667

No lates, no derogs, and I own no credit cards so this would be my first.

UPDATE:  So after doing a recon yesterday,(they asked about birthday, previous address, age, etc), wasn't denied at all like I was with the Chase Amazon card (but did recon and was approved)

I was told that before I could be approved, I would have to fax in my SSN#.  Did it the same day at Chase bank and was also given my reference number.  Called today and was told that they have to wait for the document to be looked over but they don't need anything else from me.  I'm guessing that all I need to do now is just wait for my card in the mail. 

With the Chase Amazon card, it took a day for it to show up under my Chase online account. 

UPDATE #2:  Got the letter that requested info from me and looks like they're trying to approve me for the Chase Freedom Platinum card instead of the signature.  Still going to give them till friday.

[iMacDrew]

yes absolutely.. good luck!

[Jake0215]

Sounds like a denial. Only based on your lack of credit history.

[Revelate]

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@Jake0215 wrote:

Sounds like a denial. Only based on your lack of credit history.

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Dunno, I'll be watching this thread with interest though in hearing what the results are.  No credit cards != no credit history (and OP has a FICO at least, something's on there), and Chase has changed their underwriting criteria on the Freedom for the entry-level requirements. 

Previously I would've agreed with you that 1 year minimum on a CC was required, now I just don't know as we've been seeing Freedom approvals in the past two months with under a year's history and that was from starting thin files.

[rtw]

Call to recon.

[Anonymous]

Okay I will definitely call the recon number just to see.

My only credit are student loans, all 100% good standing and one was shown as paid and good standing. The earlist one is from 2007.

If I don't qualify for Chase even after a recon would Cap one be a better one to start with with my lack of credit card history?

And yes, I've been scanning through various forums on who gets approved and denied....a bunch of mixed results.  I would be happy to be approved for a card with a $500 limit just to establish revolving credit.

And another thing...on the disclosure form I signed, in the fine print, they said that if you don't qualify for the Chase freedom signature card then they would bump you down to see if you would qualify for the platinum.  Is there a huge difference between the Freedom Signature and Platinum???

[Revelate]

There's a bunch of different Freedom versions floating around, but basically Signature = 5K+ limit with some other benefits, and everything below that at a broad stroke, isn't.

In your case it's not worth worrying about, if you were to get a Signature one I'd pretty much die of shock I suspect .  Cap One, local CU's, or secured cards would be your most likely options... I would skip the rest of the "unsecured for everyone" cards like First Progress, Credit One, and others: the fees just aren't worth it and secured cards are a much better route than those.  

In your case, you're right: the CL doesn't matter as you noticed, you just need to get some history going.  While first-mover advantage, really isn't in the business world, being the first "good" card that a customer receives has non-trivial benefits to a lender.  Chase is actively pursuing new customers, so I think there's a reasonable chance.  That said, even if Chase approves you, I'd go and get another 1-2 "whatever" cards even though the Freedom is an *excellent* every day card all things considered for people in your (mine too though my profile is admittedly different) situation.

[Anonymous]

People, you guys are BRILLIANT!

Called recon, was told to call the 800-278-8830 to check on my freedom card tomorrow, but I was approved for my Chase Amazon card for $1300 literally just now!!!  I had applied for that card on the 27th!  WOOOW!  I was expecting a $500 cl too for that.

[CribDuchess]

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@Anonymous wrote:

People, you guys are BRILLIANT!

Called recon, was told to call the 800-278-8830 to check on my freedom card tomorrow, but I was approved for my Chase Amazon card for $1300 literally just now!!!  I had applied for that card on the 27th!  WOOOW!  I was expecting a $500 cl too for that.

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That's awesome - congratulations!!!  Hopefully tomorrow you'll be getting good news on the Freedom and can make it 2 for 2.  Keep us posted!

[webhopper]

Chase amazon card is also a great everyday card. I carry it in my wallet just in case amex is not accepted. If I were you I would go for amex zync.

Amazon card gives you 2% back on gas and dining and 3% back on amazon purchases.