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I have NEVER seen it apply the bleed effect to anything though, as far as I can tell it may not even be working, with that in mind I would advise against making it a main weapon if you have any of the other lances available unless you really like the longer reach.
So you can ignore that entirely.
Beyond that... it`s the earliest available lance... and that`s more or less it. It deals meh damage until you get it to +3 or more, it has high reqs and it`s heavy as sin. If you want to use lances and are unwilling to wait for the Heide Lance/Greatlance get it. Otherwise, might as well pop the soul.
The bonfire you want is either Bridge Approach or the Undead Purgatory one. I`d guess Purgatory, since it`s actually in the same area.
http://darksouls2.wiki.fextralife.com/Bonfire+Ascetic#.U4J2wfldUcB
The reach of Chariot Lance is supposedly greater than that of the Grand Lance, but Grand isn't stuck with bleed, and can be upgraded with normal titanite. Grand lance is available later in the game than Chariot, so if you want a lance earlier, Chariot makes a good placeholder; but for NG+ and on I would suggest Grand.