I burnt myself using my flat iron one week ago. Is it possible for me to get a keloid from this 1st degree burn on my chest?

Burn Scars. A first degree burn produces redness and pain and generally does not cause any permanent scar. If the burn produces blistering this indicates a second degree burn and could result in a permanent scar. The chest is notorious for developing heavy scars. You should have the burn evaluated to receive proper care.