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Should I close my $300 Slate card?

Regular Contributor

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.

10 REPLIES
Regular Contributor

Re: Should I close my $300 Slate card?

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
Super Contributor

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

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

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

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 EQ: 678, myFICO TU: 676, myFICO EX: 678 (01/2013)
Latest Scores: myFICO EQ: 789, myFICO TU: 782, myFICO EX: 788
My Wallet: American Express BCE, NFCU cashRewards, Capital One Quicksilver, Discover It, Chase Freedom, Chase Amazon Rewards
Gardening since 02/07/17
Established Contributor

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.
Highlighted
Regular Contributor

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.

Established Contributor

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: 763 (12/16); TU: 786 (12/16); EQ 731 (12/16)
Amex Blue Cash Preferred | Amex SimplyCash Plus | Chase Amazon Prime VS | Chase Freedom VS | Discover IT | Penfed Power Cash Rewards VS | Sams Club MC | USAA Limitless Rewards PV
Established Contributor

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...