Freedom App or Credit Union CLI first?

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rossmo
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Location: placetown

Freedom App or Credit Union CLI first?

Postby rossmo » Mon Mar 04, 2013 9:16 pm

Just curious what I should do first: Apply for a Chase Freedom card or request a CLI from my Credit Union?

Will I be approved for a Chase freedom? Scores, cards, utilization and inquiries are below. (I am located in NJ, so Chase would be likely to pull EX from my research)

I have 1 badie (tax lien) from 2/12- Paid 6/12.

AAoA: 3 Years 8 Months
Inquiries: EX (7), TU (1), EQ (3)
EX: Cap1 (5/12), Apartment Rental (8/12), Verizon (9/12), Citi (9/12), Amex, (10/12), Citi (10/12), Citi (10/12) (I sent Citi an updated credit report for recon and they did another HP, uch)
TU: Cap1 (5/12)
EQ: Cap1 (5/12), Credit Union (8/12), Discover (10/12)

Credit Union Visa: $399/3000
Secured CapOne Visa: $0/300
Banana Republic Store: $0/1200
Express Next A-List: $50/1340
BofA Credit Card: $1950k/18.7k
Discover IT $449/1750


FICOS (as of 1/5/13):
EQ 745
EX 688
TU 727

Any help is much appreciated! Thanks!!
Credit Union Visa: $5000 (4/11)
Discover IT $1750 (10/12)
Chase Freedom $1500 (3/13)
BofA Credit Card: $18.7k (1/02) (Authorized User)
Secured CapOne Visa: $300 (5/12)
Banana Republic Store: $1200 (5/11)
Express Next A-List: $1340 (6/11)

FICOS (as of 3/15/12):
EQ 762
EX 731
TU 747


cashback
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Location: NY

Postby cashback » Mon Mar 04, 2013 9:30 pm

Do them both in the same day.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

rossmo
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Location: placetown

Postby rossmo » Tue Mar 05, 2013 7:16 am

Chase does a hard pull immediately, but the The credit union doesn't do CLIs the same day. They take time to process the request, so doing both the same day won't work.

Same questions remain: what should I do first Chase app or credit union CLI, and would I be approved for a chase Freedom?
Credit Union Visa: $5000 (4/11)
Discover IT $1750 (10/12)
Chase Freedom $1500 (3/13)
BofA Credit Card: $18.7k (1/02) (Authorized User)
Secured CapOne Visa: $300 (5/12)
Banana Republic Store: $1200 (5/11)
Express Next A-List: $1340 (6/11)

FICOS (as of 3/15/12):
EQ 762
EX 731
TU 747

cashback
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Location: NY

Postby cashback » Tue Mar 05, 2013 8:02 am

Apply for freedom
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

agp
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Location: US&A

Postby agp » Tue Mar 05, 2013 8:48 am

Both on the same day. Tell your CU to process your request immediately.

Main Card: Amex Platinum
For gas: Penfed Platinum Cash Rewards
For travel & dining: Chase Sapphire Preferred

rossmo
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Joined: Thu Jul 26, 2012 7:57 pm
Location: placetown

Postby rossmo » Tue Mar 05, 2013 11:20 am

I appreciate your help, but Credit Union said they can't guarantee it will be processed same day.

My thinking is this: Lets say I apply for Freedom first. Chase is known to match or go higher than other accounts you hold. If I have another account on my CR with a $6-10k limit, I might be more likely to get a higher limit on the new card.

But, if I have another inquiry on my report from the Credit Union increase (they do HP), I might be less likely to get Freedom card.

Hope this helps clarify. Any change in your thinking about how I should proceed? (please explain if you have an opinion on this. Thanks!)
Credit Union Visa: $5000 (4/11)
Discover IT $1750 (10/12)
Chase Freedom $1500 (3/13)
BofA Credit Card: $18.7k (1/02) (Authorized User)
Secured CapOne Visa: $300 (5/12)
Banana Republic Store: $1200 (5/11)
Express Next A-List: $1340 (6/11)

FICOS (as of 3/15/12):
EQ 762
EX 731
TU 747

mattymatt808
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Location: Honolulu, HI

Postby mattymatt808 » Tue Mar 05, 2013 1:35 pm

To me this is a no-brainer decision. Do both, but definitely apply for Freedom before your credit union CLI. If you get approved, ask for a CLI in 6 months. If you get declined, reapply for Freedom in October (7 months) because all of your EX inquiries will all have aged to 1 year by then and your highest credit line will be higher. Either way, you have your high-limit Freedom in 6-7 months, but getting it now gives you that much more time to save in the 5% categories, get Ultimate Rewards points, etc.
$2500 First Hawaiian Bank (6/10)
$4500 CHASE Freedom (2/13)
$3500 Citi Forward (2/13)
$2000 Discover it (2/13)
$9600 AMEX BCE (3/13)
$10000 CHASE Sapphire Preferred (7/13)
$5000 CHASE Ink Plus (8/13)

rossmo
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Location: placetown

Postby rossmo » Wed Mar 13, 2013 12:40 pm

Just pulled the trigger today and applied for Chase Freedom... Instant Approval!

Now I'm going to take your advice and ask for a CLI on the credit union card.

Appreciate everyone's help! Thanks, all!
Credit Union Visa: $5000 (4/11)
Discover IT $1750 (10/12)
Chase Freedom $1500 (3/13)
BofA Credit Card: $18.7k (1/02) (Authorized User)
Secured CapOne Visa: $300 (5/12)
Banana Republic Store: $1200 (5/11)
Express Next A-List: $1340 (6/11)

FICOS (as of 3/15/12):
EQ 762
EX 731
TU 747

mattymatt808
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Posts: 60
Joined: Tue Feb 12, 2013 5:10 pm
Location: Honolulu, HI

Postby mattymatt808 » Wed Mar 13, 2013 1:55 pm

Congrats! Instant approval is a great feeling :) Good luck with the rest of your moves!
$2500 First Hawaiian Bank (6/10)
$4500 CHASE Freedom (2/13)
$3500 Citi Forward (2/13)
$2000 Discover it (2/13)
$9600 AMEX BCE (3/13)
$10000 CHASE Sapphire Preferred (7/13)
$5000 CHASE Ink Plus (8/13)

rossmo
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Posts: 34
Joined: Thu Jul 26, 2012 7:57 pm
Location: placetown

Postby rossmo » Sat Mar 16, 2013 9:05 pm

Got the CLI from the Credit Union! (not as much as I wanted, but I'll take it...)

Will 6 months of good use with the Freedom get me in the door for a Chase Sapphire Preferred?
Credit Union Visa: $5000 (4/11)
Discover IT $1750 (10/12)
Chase Freedom $1500 (3/13)
BofA Credit Card: $18.7k (1/02) (Authorized User)
Secured CapOne Visa: $300 (5/12)
Banana Republic Store: $1200 (5/11)
Express Next A-List: $1340 (6/11)

FICOS (as of 3/15/12):
EQ 762
EX 731
TU 747



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