What would happen?

afbar1114 · ‎03-21-2012

the exce office rep said i am allowed to close Slate and make monthly payments on it and open freedom? what effect would it be on my reports

AMEX PRG; AMEX EveryDay $14,800; Freedom $6k; Sapphire $7k; IHG Select $5k; Discover $2,400; BofA Better Balance $9,100; Bank Americard $5,900; Citi DC $2,700; Citi Diamond $2,500; BestBuy $20,000; Amazon Prime $5k, United Club $15,000; Home Depot $20,000; Barclays $7,500

Total Credit Limits: $122,650

RyVision · ‎03-21-2012

@afbar1114 wrote:
the exce office rep said i am allowed to close Slate and make monthly payments on it and open freedom? what effect would it be on my reports

First it would hurt your UTIL. Second, what if they didn't give you a decent CL with Freedom? Plus it's a brand new account and INQ. I doubt they'll allow a PC from a card that has a balance. You'd be better off waiting to apply for Freedom later, you don't want to end up locked in the dungeon.

AKA 840flippedto480

afbar1114 · ‎03-21-2012

@RyVision wrote:
@afbar1114 wrote:
the exce office rep said i am allowed to close Slate and make monthly payments on it and open freedom? what effect would it be on my reports

First it would hurt your UTIL. Second, what if they didn't give you a decent CL with Freedom? Plus it's a brand new account and INQ. I doubt they'll allow a PC from a card that has a balance. You'd be better off waiting to apply for Freedom later, you don't want to end up locked in the dungeon.

i already took the INq hit... and they said i can get CLI's just not right now because of my current file

AMEX PRG; AMEX EveryDay $14,800; Freedom $6k; Sapphire $7k; IHG Select $5k; Discover $2,400; BofA Better Balance $9,100; Bank Americard $5,900; Citi DC $2,700; Citi Diamond $2,500; BestBuy $20,000; Amazon Prime $5k, United Club $15,000; Home Depot $20,000; Barclays $7,500

Total Credit Limits: $122,650

LS2982 · ‎03-22-2012

@RyVision wrote:
@afbar1114 wrote:
the exce office rep said i am allowed to close Slate and make monthly payments on it and open freedom? what effect would it be on my reports

First it would hurt your UTIL. Second, what if they didn't give you a decent CL with Freedom? Plus it's a brand new account and INQ. I doubt they'll allow a PC from a card that has a balance. You'd be better off waiting to apply for Freedom later, you don't want to end up locked in the dungeon.

+1

Wait it out, it will be better!!!

EQ FICO 548 3/3/16

drkaje · ‎03-22-2012

Regardless of the rep's advice, I'd pay the Slate in full before closing. If it can't be upgraded after a year, I'd app for Freedom.

Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO

Take the FICO Fitness Challenge

ShiningDown · ‎03-22-2012

I had a slate card with a 50 % balance or more and I asked for a PC to freedom in 2011 and they just did it. Before this my CL was 5,000 and my balance was 4,975. When I paid my balance to half in one payment I called and got a 1,000 increase.

How long have you had the card?

Anonymous · ‎03-22-2012

@afbar1114 wrote:
the exce office rep said i am allowed to close Slate and make monthly payments on it and open freedom? what effect would it be on my reports

Wait, I thought you decided you were going to keep your Slate and wait a year for the Freedom so you can get in with a better limit?

CreditWorld2013 · ‎03-22-2012

@Anonymous wrote:
@afbar1114 wrote:
the exce office rep said i am allowed to close Slate and make monthly payments on it and open freedom? what effect would it be on my reports
Wait, I thought you decided you were going to keep your Slate and wait a year for the Freedom so you can get in with a better limit?

Did you ACTUALLY BELIEVE him! After all this is APPBAR were talking about... He is about as determined as LS. Come to think of it I should place a few bets on him and LS combined.

crunching_numbers · ‎03-22-2012

@CC365 wrote:
@Anonymous wrote:
@afbar1114 wrote:
the exce office rep said i am allowed to close Slate and make monthly payments on it and open freedom? what effect would it be on my reports
Wait, I thought you decided you were going to keep your Slate and wait a year for the Freedom so you can get in with a better limit?
Did you ACTUALLY BELIEVE him! After all this is APPBAR were talking about... He is about as determined as LS. Come to think of it I should place a few bets on him and LS combined.

Appbar! Are you actually trying to screw up your credit? It is bad advice to EVER close an account with a balance. Also, opening and closing all these accounts is REALLY bad for your scores. You are taking needless INQ hits. You need to just garden, and this is coming form the lady who apped 3 times this month and did a PC. STOP IT APPBAR! You are making things worse!

Starting Score: 693 TU FICO, 679 EQ FICO
Current Score: FICO 8 = 844(9/15) EQ, 827 TU, 811 EX (7/15); mortgage FICO= 758 (9/15)EQ5, 797 TU4, 748 EX2 (7/15)
Goal Score: 750+, but shooting for the 800's
Hyatt Visa Sig ($23K), Amex BCP (24.8K), BofA Travel Rew Sig (22.5K), B&N World MC (22.3K), Amex RP Gold (NPSL w/ S&T), Cash+ Sig (20K),United Mil+ExpSig (16.3K), FNBO Visa (13.1K), Hilton Surpass (10K), Freedom Visa Sig (8.6K), Disc It (16.4K), Citi Dia Pref MC (3.7K),Sam's MC (10K), Wally (7.5K), JCP(5.3K), Costco (2K)

CreditWorld2013 · ‎03-22-2012

@crunching_numbers wrote:
@CC365 wrote:
@Anonymous wrote:
@afbar1114 wrote:
the exce office rep said i am allowed to close Slate and make monthly payments on it and open freedom? what effect would it be on my reports
Wait, I thought you decided you were going to keep your Slate and wait a year for the Freedom so you can get in with a better limit?
Did you ACTUALLY BELIEVE him! After all this is APPBAR were talking about... He is about as determined as LS. Come to think of it I should place a few bets on him and LS combined.
Appbar! Are you actually trying to screw up your credit? It is bad advice to EVER close an account with a balance. Also, opening and closing all these accounts is REALLY bad for your scores. You are taking needless INQ hits. You need to just garden, and this is coming form the lady who apped 3 times this month and did a PC. STOP IT APPBAR! You are making things worse!

He is a credit seeking addict! I think the only thing that will stop his itch is a lot of Advere Action such as Chase closing down the slate and amex axing the ZYNC! That would teach him