Think I will be approved for Freedom?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
9 posts
bjh2013
 
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Location: Tucker, GA

Think I will be approved for Freedom?

Postby bjh2013 » Fri Dec 21, 2012 11:55 pm

Hi. I'm curious about Freedom's approval criteria. I have four open lines of credit with my oldest AAoA being 1 year and 1 month. I've never had a late payment and I have no negative marks on my credit report. My TransUnion score is 748 (via Credit Karma). However, I applied for this card when I was new to credit and was subsequently denied. Despite that being the case, what are my chances of being approved? Thanks!


jdauria
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Postby jdauria » Sun Dec 23, 2012 12:11 pm

bjh2013 wrote:Hi. I'm curious about Freedom's approval criteria. I have four open lines of credit with my oldest AAoA being 1 year and 1 month. I've never had a late payment and I have no negative marks on my credit report. My TransUnion score is 748 (via Credit Karma). However, I applied for this card when I was new to credit and was subsequently denied. Despite that being the case, what are my chances of being approved? Thanks!



I think your chances are good
[font=Times New Roman][size=80]American Express Green[color=green] [NPSL][/color]
American Express Blue Cash Preferred
Chase Freedom

Future:
American Express Premier Rewards Gold[/size][/font]

Ratfacedudeguy
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Postby Ratfacedudeguy » Sun Dec 23, 2012 2:43 pm

I think more information about your current credit profile will be necessary to make a more informed and accurate assessment. This would include the age of each individual account (in other words, were any reported to have been open very recently?), how much of your credit line you're utilizing across each of your accounts, how many inquiries you have on your report and how recently they were added, income (and by extension, student status) and things of that nature. Credit Karma's scoring model is not used by lenders, so it should not really be taken into consideration when assessing your likelihood for credit approval. And even so, a credit score is only a small piece of the puzzle as far as the overall picture of credit underwriting is concerned.
Amex Green - NPSL - 05/12
Amex Zync - NPSL - 06/12
Discover it - $7750 - 11/12
Chase Sapphire Preferred Visa Signature - $5000 - 11/12
SECU Platinum Visa - $5000 - 08/08
Bank of America Cash Rewards Platinum Plus Visa - $3000 - 06/08
Citi Diamond Preferred Mastercard - $3000 - 05/12
GECRB Old Navy Visa - $2500 - 11/12
Chase Amazon Visa - $2000 - 11/12
Chase Freedom Visa - $2000 - 07/12
Citi Thank You Visa - $1000 - 06/12
Amex Blue Cash Everyday - $1000 - 01/13

MaxPunishment
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Postby MaxPunishment » Thu Dec 27, 2012 2:29 pm

"You don't get what you deserve in life, you get what you negotiate"

Chase has a very flexible and understanding reconsideration line so just go ahead and apply and get ready to pitch your case in the likely event you don't get instant approval. I feel Chase more than other banks approves a person and not a set of numbers, so if you seem like a reasonable person over the phone who has a legitimate reason for needing the card, they'll go ahead and give it to you. The one advantage for you is that the Freedom comes in a non-Signature version so you don't necessarily need a $5k credit limit for approval

jdauria
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Postby jdauria » Thu Dec 27, 2012 2:40 pm

I need to call Chase's reconsideration line and see if they can get me approved. I am young and new to credit cards, and need to start somewhere. They denied me because of lack of credit history (obivously)
[font=Times New Roman][size=80]American Express Green[color=green] [NPSL][/color]

American Express Blue Cash Preferred

Chase Freedom



Future:

American Express Premier Rewards Gold[/size][/font]

jdauria
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Location: Arlington

Postby jdauria » Thu Dec 27, 2012 3:55 pm

Sorry for the double post, but I called the Chase reconsideration line after work, and was approved! woot woot

Should be getting the card in 7-10 days. 5% rewards here I come.
[font=Times New Roman][size=80]American Express Green[color=green] [NPSL][/color]

American Express Blue Cash Preferred

Chase Freedom



Future:

American Express Premier Rewards Gold[/size][/font]

MemberSince99
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Postby MemberSince99 » Thu Dec 27, 2012 7:47 pm

Congratulations!

kcarter609
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Postby kcarter609 » Thu Dec 27, 2012 7:50 pm

Awesome. What's the CL?

Active Cards:
Chase Freedom 10+10 Visa Signature ($9k Limit - 8/2012)
Chase Sapphire Preferred ($10k Limit - 2/2013)
Chase Ink Plus ($7k Limit - 2/2013)
Discover IT ($9.5k Limit - 10/2012)
AMEX Zync (No Pre-set Limit - 1/2010)
AMEX Blue Cash Everyday ($20k Limit - 1/2013 - Backdate to 1/2010)

jdauria
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Postby jdauria » Fri Dec 28, 2012 6:43 am

kcarter609 wrote:Awesome. What's the CL?


$500 to start out which I am fine with because my other 2 cards have higher limits.
They should give all young professionals a chance to establish their credit.
[font=Times New Roman][size=80]American Express Green[color=green] [NPSL][/color]

American Express Blue Cash Preferred

Chase Freedom



Future:

American Express Premier Rewards Gold[/size][/font]



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