Bad history with Chase but I want a Freedom UPDATE

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Elijahmex
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Bad history with Chase but I want a Freedom UPDATE

Postby Elijahmex » Mon Jan 18, 2016 1:41 pm

I hear that Chase does not forget or forgive easily so tell me what are my chances?

Five/six years ago I was victim or ID theft and someone took a Chase CC under my name and spend about 800$. Last February when I moved back to the US I found out I owed CapOne a bit less than 1,500$ with accumulated interest and such (weird right? I assume they bought the debt).

I called the bureau, ran investigations and within a couple of days the derogs were erased off my CR.

Next month after my scores go up (currently at TU 728 and EX 736) I am looking to get my 2nd CC and I am interested in the Chase Freedom however I read that if you've once burnt Chase they will probably not grant you a card as they're a relationship bank. So did the Ahole who stole my identity ruin it for me with Chase?
Last edited by Elijahmex on Thu Jan 28, 2016 10:29 am, edited 1 time in total.
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4ktvs
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Re: Bad history with Chase but I want a Freedom

Postby 4ktvs » Mon Jan 18, 2016 3:47 pm

Chase I think will forgive that. You might have to call them and explain it but I think it's possible to get approved in this case.

I personally have reasons to stay away from them, but that is just me.

Elijahmex
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Re: Bad history with Chase but I want a Freedom

Postby Elijahmex » Mon Jan 18, 2016 7:38 pm

4ktvs wrote:Chase I think will forgive that. You might have to call them and explain it but I think it's possible to get approved in this case.

I personally have reasons to stay away from them, but that is just me.


Thanks for your input. I just want to be sure there's a chance that they forgive so I don't waste a HP.

That aside, assuming my scores will be 740 with 1 full year of credit history that should be OK to qualify right?
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CarefulBuilder14
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Re: Bad history with Chase but I want a Freedom

Postby CarefulBuilder14 » Mon Jan 18, 2016 7:46 pm

If I were in your situation, I'd risk the inquiry (or two if a double pull) and apply.

If you're not instantly approved, you may get the card after explaining the now-resolved fraud on recon.

And if you're not approved even after recon, you can hopefully get a clearer understanding of exactly what happened.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

Elijahmex
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Re: Bad history with Chase but I want a Freedom

Postby Elijahmex » Mon Jan 18, 2016 8:01 pm

CarefulBuilder14 wrote:If I were in your situation, I'd risk the inquiry (or two if a double pull) and apply.

If you're not instantly approved, you may get the card after explaining the now-resolved fraud on recon.

And if you're not approved even after recon, you can hopefully get a clearer understanding of exactly what happened.


Just a little worried bc I only have 1 card and 3 inquiries already ( applied for some cards months ago when I was clueless about the whole credit thing) so I'd hate to accumulate more. However I am willing to take the risk.
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CarefulBuilder14
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Re: Bad history with Chase but I want a Freedom

Postby CarefulBuilder14 » Mon Jan 18, 2016 10:01 pm

Elijahmex wrote:
CarefulBuilder14 wrote:If I were in your situation, I'd risk the inquiry (or two if a double pull) and apply.

If you're not instantly approved, you may get the card after explaining the now-resolved fraud on recon.

And if you're not approved even after recon, you can hopefully get a clearer understanding of exactly what happened.


Just a little worried bc I only have 1 card and 3 inquiries already ( applied for some cards months ago when I was clueless about the whole credit thing) so I'd hate to accumulate more. However I am willing to take the risk.

Well, nothing's guaranteed, but apart from the old fraudulent debt you'd be in reasonable shape. Freedom generally isn't a hard card to get a year of reporting history and no baddies.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

ingramjuan
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Re: Bad history with Chase but I want a Freedom

Postby ingramjuan » Mon Jan 18, 2016 11:04 pm

Keep us updated, I am waiting until June to apply for the chase freedom. I like to play it very safe.
CARDS:
Capital One Platinum (2001) |Capital One QuickSilver World (2002) | Amex Gold Delta (2013) | Best Buy Visa (2013) |Discover It (2015) | Amex Platinum (2015)

Gardening Since: June, 2015

Next Cards:
Personal: Chase Freedom Unlimited
Business: Amex Plum
Store Card: Lowes

Elijahmex
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Re: Bad history with Chase but I want a Freedom

Postby Elijahmex » Tue Jan 19, 2016 8:30 am

ingramjuan wrote:Keep us updated, I am waiting until June to apply for the chase freedom. I like to play it very safe.


I have a CLI due February 5th so when that goes through I will apply for the freedom and let you know.
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takeshi
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Re: Bad history with Chase but I want a Freedom

Postby takeshi » Tue Jan 19, 2016 9:25 am

Elijahmex wrote:as they're a relationship bank.

Don't rely on the "relationship" meme for any creditor.

And make sure you're actively monitoring your credit accounts and your reports.

Elijahmex wrote:That aside, assuming my scores will be 740 with 1 full year of credit history that should be OK to qualify right?

No idea. It's never just about score but you can reference the Credit Pulls Database.

Elijahmex wrote:Just a little worried bc I only have 1 card and 3 inquiries already

That is a thin profile which isn't in your favor. Typically hard pulls are a relatively small factor but they can have a bigger impact for those with thin and/or poor profiles. There's no way to find out for certain aside from apping and worst case you have a denial letter with a list of reasons to use as a starting point on what to work on.

Elijahmex
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Re: Bad history with Chase but I want a Freedom

Postby Elijahmex » Tue Jan 19, 2016 3:41 pm

takeshi wrote:
Elijahmex wrote:as they're a relationship bank.

Don't rely on the "relationship" meme for any creditor.

And make sure you're actively monitoring your credit accounts and your reports.

Elijahmex wrote:That aside, assuming my scores will be 740 with 1 full year of credit history that should be OK to qualify right?

No idea. It's never just about score but you can reference the Credit Pulls Database.

Elijahmex wrote:Just a little worried bc I only have 1 card and 3 inquiries already

That is a thin profile which isn't in your favor. Typically hard pulls are a relatively small factor but they can have a bigger impact for those with thin and/or poor profiles. There's no way to find out for certain aside from apping and worst case you have a denial letter with a list of reasons to use as a starting point on what to work on.


I'm on top of things! With my thin file I've leant that anything can have a significant impact on my score so I am always on top my accounts and reports.

When Amex denied my a few months ago I got a letter with a list of reason.
1. Low Fico score - was in the low 600 - now fixed and improving
2. Derog - now fixed & erased
3. Length of credit history - only time will help
4. Amount of inquiries - 3 back then and now
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