Chase Freedom or Citi Simplicity: What are my chances?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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Killerz187
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Chase Freedom or Citi Simplicity: What are my chances?

Postby Killerz187 » Tue Mar 04, 2014 3:55 pm

Hi there, just have a question about applying for the Chase Freedom or even the Citi Simplicity cards.

My oldest account is my BoA card ($2000), which will be three years old this June, and my youngest is a 5/3 Bank card ($1000) which was opened in October of 2013.

Have a total of 4 inquiries on my account, two in the last six months, one for the 5/3 card, and one for BoA increasing my limit to $2000 from $700 last week.

100% on time payment history over the close to three years I've had credit available to me. No derogative things on any of my files either. Have a student loan for 4400 that I am currently paying off, never late on that one either. Not including that loan, I owe ~600 over both my cards.

Income is between 2200-2500 a month currently. Would I have a good chance to get approved for either of these two cards?

My concerns are the Inq. for the CLI from BoA, and my util was sky high for a few months when I was in-between jobs, but I was never late on my payments even if I could only make the minimum.

I appreciate any input from you guys, ya'll seem to be a lot more knowledgeable than I am :cool:


CC Deville
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Postby CC Deville » Tue Mar 04, 2014 7:00 pm

I'd say your chances for both are pretty good; but let your new credit line from BofA report before you apply.

The BofA inquiry was likely TU. Chase and Citibank will likely use Experian for the new account and therefore would not see the BofA inquiry.

Chase has a pre-approval (Citibank does too now that I think about it) section on their website. Check those out (it will only be a soft inquiry) to see if you are pre-approved for anything.

Your other option is to wait a little while. Chase and Citibank are both notorious for filling up your mailbox with pre-approved offers. Also, from experience, you should only apply for credit when you need it. If you need a long balance transfer than the Citibank card could be worthwhile; otherwise I'd skip it and go for Freedom for the cash back.

MemberSince99
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Postby MemberSince99 » Tue Mar 04, 2014 7:33 pm

Just an FYI BofA has always pulled EX here in Wisconsin for me.

Killerz187
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Postby Killerz187 » Tue Mar 04, 2014 8:21 pm

I may indeed just end up skipping the Citi card, I'm mainly trying to expand my portfolio with a few different cards. The BoA inq definitely hit my TU score, I saw it report two days after I requested the limit.

Killerz187
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Postby Killerz187 » Tue Mar 04, 2014 9:29 pm

I checked my Ex report for $1 on Experian.com, and its currently a 723 (PLUS score, so it's not the one lenders see). Seems like my BoA line increase has already reported, but now I'm waiting for 5/3rd to update my balance, it's 400$ less than what it currently says.



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