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Chase slate is very useful for 0 APR and 0 fee balance transfers for your current cards. I would suggest a card that provides rewards that might be more suitable to you. To be honest, I would wait a bit and let your credit history build. Cap 1 and their QuickSilver card could be your text target if you are looking for some cash back, and you have a relationship with them already.
@Anonymous wrote:
18 years old, make $15K / per year, I'm thinking about getting one more card, I have 4 total, Chase freedom ($500)
Lowes ($400) Cap 1 secured ($200)
discover it secured ($200) I started my history back in October and plan on getting just one more card, I would like to get the Chase slate card because I have a good relationship with Chase, and they approved me first with their freedom card, any other lenders? I would like more then a $500 credit limit, once summer hits I'll be making way more then $15K but as of now my income is $15K / year. I really wanted to get in withAMEX but everyone was sayingAMEX was a bad idea with only 4 months of credit history total. Oh credit karma said my scores are in the 620's. Thanks!!
Credit Karma isn't real scores and it's FICO score so it's hard to know what your true score is. October isn't that far back. If I were to pull the trigger in your situation, it would be for a card that gave me a free FICO score. Discover or Walmart. If your credit history is too short for that, I would garden and let my credit age a bit.
The normal QS does not have any fee, plus there is a sign up bonus and 0% APR offers. I would still suggest to wait since your history is only 4 months, and you already have a few cards. Your score will really jump if you keep your util % low and try to wait until you have a year of history.
I don't recommend... Chase is a hard bank to get CLI from. You should garden those 4 lines for 6 months and if you still want the Slate then, you will start at a higher limit.
I started with 4 cards...
walmart $150
lowes $500
chase amazon $500
barclay rewards $500
If I would have added a 5th card it would have been another $500 approval
I gardened for 6 months and was able to get 5k chase approvals at that 6 month mark,. My chase amazon sits at 2k at the 18 month mark. If i would have waited, it would now be $6500 (like my other chase approvals).
By the way, unless you carry balances (which i don't recommend) or want to move limits later, Slate is worthless.
Yeah I would avoid Slate for now unless you really need a balance transfer. You're just going to get approved for a relatively low limit based on what I'm seeing, which isn't good for a 60-day free BT card anyway. Let your accounts grow and see if you can graduate your secured card to an un-secured card. I think there are a lot of threads here on that, so take a look.