Odds of Approval for Chase Freedom

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
5 posts
RGL
Green Member
Green Member
 
Posts: 6
Joined: Sun Jan 25, 2015 4:29 pm
Location: Orange County, CA

Odds of Approval for Chase Freedom

Postby RGL » Tue Jan 27, 2015 5:08 pm

Hello everyone,
This is just my 2nd post on this forum. I am a 20 year old college student with a $35k/year income and no loans or debts. Maybe some of you might've seen my last post asking for odds of approval for an AMEX (link: http://creditcardforum.com/american-express/11357-odds-approval-first-amex.html ).
Essentially, I received my SSN only a few months ago and was approved for a Green Card a few days ago. My oldest account on my credit report dates back to August 2014 (5 months old) as an authorized user on a Chase Freedom Card. The primary account holder is my wife, despite me being the one who makes all the payments. We also have a joint checking/savings account with Chase (dates back to March 2014).
I (stupidly) wasted a hard inquiry on an AMEX, which was denied. I also applied for a Discover It Student card, which was also denied because of lack of credit history. Discover said they could approve me with a joint applicant, so I applied with my wife (who already had a credit card with them) and was denied because she has to high a balance with them (which will be taken care off in the next few days).
So I was thinking which (unsecured) card I might have a good shot at, and I figured since I bank with Chase and pretty much my entire credit score (706 across the board on the new Credit Karma) is made up from me being an AU on that Chase Freedom card and 2 hard pulls (AMEX & Disocver), they might be the best bank to take a shot with before resorting to a secure card.
The Chase Freedom card is the only card on my wife's credit that does not carry a balance month-to-month because I pay it off in full every month. So, I believe, we're in good standing with Chase.
Thoughts?


Thanks in advance!


justBrandon
Green Member
Green Member
 
Posts: 4
Joined: Sun Jun 22, 2014 1:38 pm
Location: IL

Postby justBrandon » Sun Feb 01, 2015 11:02 am

Start by checking if you're pre-qualified on Chase's website:

popamode72
Centurion Member
Centurion Member
 
Posts: 1099
Joined: Sun May 04, 2014 4:41 pm
Location: Atlanta, GA

Postby popamode72 » Sun Feb 01, 2015 7:37 pm

You seem to have a very thin file right now. There's nothing to lose by checking prequals but there's no guarantee that you'll be approved. The good thing about getting those is that Chase tends to do TU pulls for those and if you get anything for both the Freedom and CSP, app for those on the same day to get both on one HP if you're really interested in UR point transfers. I'd imagine that you'd need to do some recon to get them to approve you for the Freedom and even then they might start you out at a low limit.

Chase typically likes to see a year of credit history too but I have read several cases where people have gotten in earlier like in CarefulBuilder14's situation. There are even those who were AUs on someone else's card that were able to get in so I'd definitely give it a try and if not, wait until you have 11-12 months of history to try again.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

RGL
Green Member
Green Member
 
Posts: 6
Joined: Sun Jan 25, 2015 4:29 pm
Location: Orange County, CA

Postby RGL » Tue Feb 03, 2015 11:07 pm

I'd imagine that you'd need to do some recon to get them to approve you for the Freedom and even then they might start you out at a low limit.


That is exactly what happened. I got an, "Your application needs further review" message. So I waited about an hour before calling their recon number. I was ready to explain to them how I bank with them and, therefore, they should be able to see that I am financially capable of paying the card; that the Freedom Card I'm an AU in is actually exclusively used by me and payed off every month by me, so I was essentially just asking them to "make it official." Well, the nicest rep picked up the phone, I told him I was calling because I had just submitted a credit app with them and wanted to make sure they had everything they needed. He asked me to hold, pulled up my app, asked me a few questions to verify -- namely, my living expenses (rent). He then put me on hold for another 5 minutes or so and came back and said everything looked great and that he was able to approve me for a $500 limit. :D

popamode72
Centurion Member
Centurion Member
 
Posts: 1099
Joined: Sun May 04, 2014 4:41 pm
Location: Atlanta, GA

Postby popamode72 » Tue Feb 03, 2015 11:21 pm

RGL wrote:That is exactly what happened. I got an, "Your application needs further review" message. So I waited about an hour before calling their recon number. I was ready to explain to them how I bank with them and, therefore, they should be able to see that I am financially capable of paying the card; that the Freedom Card I'm an AU in is actually exclusively used by me and payed off every month by me, so I was essentially just asking them to "make it official." Well, the nicest rep picked up the phone, I told him I was calling because I had just submitted a credit app with them and wanted to make sure they had everything they needed. He asked me to hold, pulled up my app, asked me a few questions to verify -- namely, my living expenses (rent). He then put me on hold for another 5 minutes or so and came back and said everything looked great and that he was able to approve me for a $500 limit. :D


That's great! Treat Chase well and they will do the same in return for you. You might even get some kind of auto CLI on the Freedom in a few months if you're lucky.

Also they can be very giving with subsequent card approvals once you've established some history of your own with them in case there are other Chase cards that you're interested in. Keep an eye out for some really good sign up offers that they offer on some of their other cards too. I'm personally waiting for that $200 Freedom sign up bonus to come back but Hyatt Visa also caught my eye as well.

I also forgot to say that we're the same age as each other.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)



Return to “Visa & MasterCard”

Who is online

Users browsing this forum: No registered users and 2 guests