Reply
Regular Contributor
Awesomely
Posts: 146
Registered: ‎01-26-2011

Should I close my $300 Slate card?

They want a HP for a CLI, no APR decrease and I don't feel like talking to their EO office. I think the low limit is hurting my profile when I ask for CLI's on the other cards.

Regular Contributor
jlfce1
Posts: 142
Registered: ‎05-16-2013

Re: Should I close my $300 Slate card?

[ Edited ]
Do you have another chase card where you could transfer the CL?

I'm no expert but from my understanding is that the slate is good for basically the intro period and BT offer, then there isn't much to it after that.

**also my Freedom was stuck at $400 until recently and it never affected my other cards for CLI or new CL's.

**edit due to adding last comment
Amex BCE 24.5K | BofA Cash Rewards 15K | CSP MC 13.5K| Chase Freedom 7.5K | Discover IT 3K
Moderator
pizzadude
Posts: 8,660
Registered: ‎01-28-2010

Re: Should I close my $300 Slate card?

 

What are the CLs on your other cards ?

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Regular Contributor
Awesomely
Posts: 146
Registered: ‎01-26-2011

Re: Should I close my $300 Slate card?

No, it's my only Chase card and I have had it for 2 years so it's just sitting there with a near 24% APR. My other limits are $1,500, $2,700, $1,100, and $3,750.

Valued Contributor
parakleet
Posts: 1,135
Registered: ‎04-13-2013

Re: Should I close my $300 Slate card?

You could see about doing a PC to another chase card with better rewards but I would expect a HP. Basically, it's unlikely that you'll be able to improve this card without a HP from chase. But that's really par for the course. I doubt that the low CL is hurting your overall credit profile but personally, I'd see about going the PC route.

Gardening since 7/16/14
Current: EQ 711 7/13/14; EX 724 TU 721 6/19/14
Goal: 760+
Frequent Contributor
_jb_
Posts: 306
Registered: ‎01-16-2013

Re: Should I close my $300 Slate card?

I agree with parakleet on PCing the Slate to another card. With a HP, you could theoretically get a PC to a Chase Freedom with a much better CL and no hit to your AAoA, but you would miss out on the $100 cashback currently offered for $500 spend in 90 days. You'd have to decide if that is worth it or not.


Starting Scores: myFICO EX: ???, myFICO EQ: 678, myFICO TU: 676 (01/2013)
Latest Scores: myFICO EX: 704, myFICO EQ: 702, myFICO TU: 718
My Wallet: Chase Sapphire Preferred, Discover It, NFCU cashRewards, Capital One Quicksilver, Chase Amazon Rewards
Gardening since 02/19/13
Established Contributor
missjae
Posts: 522
Registered: ‎07-18-2013

Re: Should I close my $300 Slate card?

If they're going to HP you, can you apply for a different card all together, than transfer the limit from the Slate to the new card? You may get a higher limit on the new card, then add in the $300. I wouldn't close it though as long as there is no AF.

If you don't carry a balance, ignore the APR. Otherwise, I would try applying for a different card with a better APR and limit.
Contributor
wche
Posts: 112
Registered: ‎01-29-2013

Re: Should I close my $300 Slate card?

I would take a HP and apply for a new Chase product altogether (Freedom or CSP). Then transfer the $300 from the Slate to the new card and close the Slate.

BoA Better Rewards: 5K | Citi Forward: 8.6K | Chase Freedom: 5.4K | Discover IT: 7K | Amex BlueSky: 12.4K | Chase IHG: 5K | Barclays Arrival: 4K | Chase CSP: 10K

TU FICO 755
Established Contributor
UFGuy2006
Posts: 712
Registered: ‎08-02-2008

Re: Should I close my $300 Slate card?

Like others have mentioned, try to PC it to another card. It may provide you with better options to APR reduction / CLI. Good luck!

FICO: EX: 735 (5/14); TU: 776 (5/14); EQ 711 (5/14)

In My Wallet: Amex X 5 | Barclays X 2 | BOA X 1 | CapOne X 3 | Chase X 3 | Citi X 5 | DCU X 1 | Discover X 1| Fidelity X 1 | Fifth Third X 1 | PenFed X 1 | PSECU X 1 | USAA X 2 | US Bank X 1 | Walmart X 1 | Wells Fargo X 1

Holding off apps for the next 6 months! Last inq 5/27/2014.
Regular Contributor
Marcos8
Posts: 180
Registered: ‎05-31-2013

Re: Should I close my $300 Slate card?

Does a SLATE to Freedom PC require a hard pull? I was under the impression it didn't and was about to try for this as well...


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+