Just starting out in the credit world... Need some advice

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BlueEyedGirl
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Just starting out in the credit world... Need some advice

Postby BlueEyedGirl » Sat Jul 17, 2010 5:19 pm

I'm 24, graduated from college 2 years ago and had never had a credit card until about a month ago.

Before I got my current card, an American Express Blue, which I LOVE, I applied for a Discover Card, got denied, applied for a CitiBank MasterCard, got denied, applied for a Capital One MasterCard, got denied and had even previously applied for a retail clothing store card and got denied :( I was denied for all of these under the reasoning that I just didn't have enough credit history, which is totally understandable, so I was very surprised when about a month ago I tried for an American Express Blue Card, and was instantly approved online.

Last evening I made the impulse decision to apply for a Chase Freedom Visa because I hastily thought that I NEEDED to have a card that was a Visa or MasterCard for when I'm at an establishment that doesn't take American Express. It's only happened to me once so far, and that was at a pharmacy, so it wasn't a grocery store or department store that I frequent more often, but I, perhaps foolishly, decided that I should look into getting a Visa or MC so I can have a backup when AmEx isn't accepted.

I thought I had researched Chase enough to be assured that the Freedom card is a good card, but now after looking through forums and blogs, I've seen people post horror stories (terrible customer service, charging a rewards fee after 1 year of membership, changing rewards terms, etc) about Chase and I'm scared that if I do somehow get approved, that because of the awful things I've heard about Chase, I'll want to immediately close the account without even using the card.

So, my questions are:

Is it even likely that I'll get approved for the Chase Freedom Visa with ZERO credit history? (I haven't even paid my first AmEx bill yet...)

If I do get approved, is it as bad as I've heard? Should I save the headaches and cancel the card?

Any advice anyone can offer would be greatly appreciated! :)


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Mogul of Pineapples
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Postby Mogul of Pineapples » Wed Jul 21, 2010 6:13 pm

It's hard to say. How long ago was it the others denied you, only a month or so? If it was recently then it's doubtful that Chase will approve you. But you never know, credit cards are becoming easier to get again. For a while during the recession it was nearly impossible for even those with good credit to get approved.

I did get a letter in the mail once on my Amazon account for it not being used in 12 months. It told me if I didn't make a purchase within the next 60 days the account would be canceled. I made a purchase and all was fine. Lately I have been using it more since I'm shopping on Amazon more frequently. Other than that the rewards aren't worthwhile compared to my other cards.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

BlueEyedGirl
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Postby BlueEyedGirl » Sat Jul 31, 2010 9:37 pm

Mogul of Pineapples wrote:It's hard to say. How long ago was it the others denied you, only a month or so? If it was recently then it's doubtful that Chase will approve you. But you never know, credit cards are becoming easier to get again. For a while during the recession it was nearly impossible for even those with good credit to get approved.

I did get a letter in the mail once on my Amazon account for it not being used in 12 months. It told me if I didn't make a purchase within the next 60 days the account would be canceled. I made a purchase and all was fine. Lately I have been using it more since I'm shopping on Amazon more frequently. Other than that the rewards aren't worthwhile compared to my other cards.



Thanks for getting back to me. I did indeed get denied for the Chase Freedom Visa :(

I'm glad to hear that you haven't had any big problems with Chase though, maybe I'll apply again in the future for one of their cards :)

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Mogul of Pineapples
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Postby Mogul of Pineapples » Tue Aug 10, 2010 5:33 pm

Sorry to hear that. I suppose waiting it out may be the best option. If you have an established history with a bank for checking/savings you may have a better chance getting a card through them, but the rewards probably will probably be average.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred



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