Got first credit card a few weeks ago, already received second targeted offer, should I apply?

Discussion in 'Newbies' started by WilliamWanderlust22, Apr 24, 2012.  |  Print Topic

  1. WilliamWanderlust22

    WilliamWanderlust22 Member

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    Hello everyone. I'm quite new to Milepoint as this is my first post. Although I read a lot of posts on this forum and FT I must admit this site seems more noob friendly so I thought I's ask here:)

    My question pertains to a targeted credit card offer I've received in the mail.

    Roughly 3 weeks ago I received my first rewards card and credit card in general (Chase Freedom) after cosigning with my dad since I have no credit history. The first bill cycle ends June 16th and I intend to pay it in full and on time with no issue. Also I have no prior debt of any kind.

    Today I received a targeted offer for the Chase United MileagePlus Card which is offering 50,000 miles after the first use of the card and an additional 10,000 miles after $25K in spending every calendar year. I'm not as interested in the extra 10,000 miles since I don't see myself making or spending that much in the for foreseeable future but the 50K miles seems appealing since the offer on the chase website is only 25K miles after first purchase. All other features of the card are the same besides this. Also the offer expires June 6th. This where my problem arises.

    If my first billing cycle for the Freedom isn't until June 16th, would I likely be declined for this card since I have no credit history? or is there a chance I could actually be accepted since the card is affiliated with chase?

    I appreciate anyones help in advance and hope in the future I can pass along some form of knowledge myself.

    PS. ... I'M GOING TO THE CHICAGO SEMINARS! hope to maybe meet some of you this October.
     
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  2. LizzyDragon84
    Original Member

    LizzyDragon84 Gold Member

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    Welcome to MilePoint! Since you just got the Freedom card 3 weeks ago and have no credit history, it's unlikely Chase will approve you instantly for the UA card. What I would do is apply close to the June 6th deadline (to space out the apps). If you don't get approved, give the Chase reconsideration line a call and see if you can work something out with them.

    Good luck!
     
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  3. wrxmom

    wrxmom Gold Member

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    If your dad cosigned, you might be piggybacked on his credit and may not have to wait until June to apply. Just some speculation on my part. I'm sure if I'm incorrect, someone will correct me. :)
     
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  4. WilliamWanderlust22

    WilliamWanderlust22 Member

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    Thank you for LizzyDragon84 and wrxmom for your responses!

    My dad just informed today that Chase is requesting at least a 1% payment by May 15th, but I told him we might as well pay it in full so Chase can see this on file and hopefully in doing so I'll have a better chance at getting approved for the UA card IF I apply closer the June 6th date suggested by LizzyDragon84.

    Does this seem logical?
     
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  5. desamo

    desamo Gold Member

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    If you have no history, wait 12 months and apply for nothing else in the interim. You won't even have a FICO score for 6-12 months of reporting (depending upon the scoring model used).
     
  6. LizzyDragon84
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    LizzyDragon84 Gold Member

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    That sounds like a good course of action. Let us know how it turns out for you.
     
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  7. sharris503

    sharris503 Silver Member

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    Desamo, you beat me to it.

    With no credit history the last thing you want to do is rack up a bunch of credit inquiries. You will kill your credit before you are even off the ground. I would wait at least a year and after that be limited in how many cards you apply for and watch your credit closely. Keep your score above 700.
     
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  8. deant
    Original Member

    deant Milepoint Guide

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    First, you need to check your credit reports with all 3 agencies. It will tell you what they have on file and which bureau Chase pulls.

    Depending on what the credit agency that Chase uses shows, I would apply for the United card a couple of days before the June 6 deadline.
     
  9. Jimgotkp
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    Jimgotkp Gold Member

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