Approved for Chase Freedom

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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English
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Location: Atlanta, GA

Approved for Chase Freedom

Postby English » Sat Apr 26, 2014 8:59 pm

Got approved for Chase Freedom tonight to add to my reward cards. Only $2000 limit but i'm not even a year into my credit history so happy with the cards i now have in my wallet.

Matt
Discover It - $3000
Chase Freedom - $2000
Bank of America Cash Rewards - $2000
Capital One QuicksilverOne - $2500
Capital One Classic - $500


Patcell87
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Location: Bergen County, NJ

Postby Patcell87 » Sun Apr 27, 2014 5:18 am

Congrats on the new addition! It's an excellent cash back card for category spending. Also, IMO, the categories are generally better than the Discover... But that depends on individual spending patterns.

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Terry
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Postby Terry » Sun Apr 27, 2014 10:26 am

I have noticed that Discover has the 5% gas catagory only one quarter per year whereas Chase usually has two quarters each year. :D
AMEX Green Card - NPSL [Member Since 1995] ;)
AMEX Everyday Card ($25,000) 6/14 Backdated to 1995 - For 20% Extra Points Benefit
Chase Freedom Visa Signature ($17,000) - For 5% rotating categories
Citi ThankYou Preferred Visa Signature ($16,000) - 2% dining
Discover IT Humane Society Design ($16,500) - For 5% rotating categories
Firestone ($2,600) - For 0% financing
Home Depot ($10,000) - For 0% financing
JCPenney Credit Card ($7,000) - For special discounts
Sam's Club MasterCard - ($20,000) - 5% off gas at any fuel pump
Wells Fargo Personal Line of Credit - ($15,000)

FICO's - 767 EX, 778 EQ, 790 TU [02/2015]

Troublemaker
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Postby Troublemaker » Sun Apr 27, 2014 12:01 pm

English wrote:Got approved for Chase Freedom tonight to add to my reward cards. Only $2000 limit but i'm not even a year into my credit history so happy with the cards i now have in my wallet.

Matt


Congratulations! It's a good cash back card w/o AF.
DoubleCash '99:10k / Freedom '07:11k / CU '11:15k / Slate '14:13k / Premier '15:10k / InkPlus '15:5k

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otter
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Location: Grand Forks, ND

Postby otter » Sun Apr 27, 2014 12:30 pm

English wrote:Got approved for Chase Freedom tonight to add to my reward cards. Only $2000 limit but i'm not even a year into my credit history so happy with the cards i now have in my wallet.

Matt


Congrats... you are definitely on your way. I would definitely consider closing the two Cap One cards... yeah, the QuicksilverOne may give you 1.5%, but you'd have to spend $7800 for it to make up for the $39 AF.
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

English
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Postby English » Sun Apr 27, 2014 5:46 pm

How much would it hurt my credit if I removed them? I was thinking of losing the classic but I use my quicksilver a lot and have nearly $100 within a year cash back.
Discover It - $3000
Chase Freedom - $2000
Bank of America Cash Rewards - $2000
Capital One QuicksilverOne - $2500
Capital One Classic - $500

austintastic
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Postby austintastic » Sun Apr 27, 2014 7:24 pm

English wrote:How much would it hurt my credit if I removed them? I was thinking of losing the classic but I use my quicksilver a lot and have nearly $100 within a year cash back.


Maybe threaten to close and try to PC to the regular no AF? It will stay on you CRs for 10 years after cancel

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otter
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Location: Grand Forks, ND

Postby otter » Sun Apr 27, 2014 9:35 pm

English wrote:How much would it hurt my credit if I removed them? I was thinking of losing the classic but I use my quicksilver a lot and have nearly $100 within a year cash back.


One of the biggest mistakes people make is leaving a card with an annual fee, no rewards, and high interest rate open simply because they think it will hurt their credit to close the card. If it is a positive tradeline, it will stay on your report for 10 years anyway. The biggest hit you might take is in utilization, but with a $500 CL, that probably isn't going to impact your utilization anyway... not with almost $10,000 in other credit. Your Cap One card won't grow that much- in two years it might grow to $1000 if you're lucky.

The QuicksilverOne is a tricky one. When I started rebuilding, it was the first card I got with any rewards, so I tended to use it a lot. As I got more and more rewards cards, I started using the QO a lot less because more and more spending categories were covered better by other cards. I don't know your spending habits, but it is a good bet with the BoA Cash rewards, Discover It, and Chase Freedom- your need for an "other" category card is reduced. Nowadays, I see 1% as almost a birthright- every card I have gives me 1% regardless of when I swipe it- so I began to think of the QO card as merely a 1/2 % card and the amount I spent on "other" purchases just didn't justify the AF. Only you can decide if the extra half percent is worth it in your case...
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450



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