topic Re: PC the OG Chase Slate to __________ (Your input here) in Credit Cards

PC the OG Chase Slate to __________ (Your input here)

RonMcKelly81 — Sun, 12 May 2024 14:12:38 GMT

New to the world of smartly utilizing credit card for purchases. Quick bio:

1. Single, no Kids

2. Amex Blue Cash Everyday (primary card used)

3. Captial One Savor Rewards (just opened 2 days ago - so I can travel overseas without FTF)

4. Chase Slate (original) - almost never use since I get no cashback (I prefer cashback and don't want points)

5. Just financed a new card in January and my credit score jumped from 798 to 805

6. Currently a renter and live in NY (HCOL) but I may rent for another year or two if rates drop or rent indefinitely

Questions:

1. What would be a good card to PC to from the Chase Slate?

2. Is it a better plan to let the Chase Slate get closed by Chase or close it myself and sign up for a 3rd card? I'd feel comfortable with a max of 3 cards to manage all purchases for at least the next year as i'm only used to 1

3. If I close the slate and open another card for cashback, will it affect my credit and for how long and does it really matter (say dropping 5 points)?

4. Here is my plan of action:

a. use the SO card for most purchases and primary driver

b. use the BCE card for gas only

c. open/PC a 3rd card and use it for ___________ (your input here)

Thanks in advance!

Re: PC the OG Chase Slate to __________ (Your input here)

Anonymous — Sun, 12 May 2024 14:12:49 GMT

If you are doing a PC, I think there are very choices (others correct me if I am wrong!)

Basically: Freedom Flex, Freedom Unlimited, New Slate, CSP, CSR (and possibly original Freedom and CS)

If you don't want an AF, then whichever of the Flex (rotating 5% and some 3% categories, in UR) or Unlimited (1.5% in UR) suits you best

Re: PC the OG Chase Slate to __________ (Your input here)

GZG — Sun, 12 May 2024 16:11:50 GMT

option 1: (if you can, idk if there any different rules because the original card is a slate and not a freedom card) PC the card to a Freedom Flex, it earns 5% on rotating quarterly categories and "3% on dining including takeout and drug stores"

option 2: First, apply for a Freedom Flex. Chase is currently offering several bonus offers, one of them being 10% cashback on groceries up to $12k spend in the first year. Then do option 1.

option 3: Apply for a Chase Freedom Unlimited (earns 1.5% on everything and 3% on dining) in branch, where there's a $200 bonus + 5% cashback on gas and groceries purchases on up to $12k in spend. Then do option 1.

option 4: sign up for the elevated CSP offer if you have the spend to earn it, $750 for spending $4k in 3 months, then after the first year, product change the card to a freedom flex.

Re: PC the OG Chase Slate to __________ (Your input here)

danzig47 — Sun, 12 May 2024 17:43:28 GMT

Based on your points, I think the Freedom Flex or Freedom Unlimited would be best. A few notes:

Both come with 3% on dining, but that's irrelivent since you are already getting that on the Savor
Both will give you 3% on drug stores
I noticed you don't have a catch-all of greater than 1% for non-category spend. The Unlimited would give you 1.5%.
- I am sure someone will come along and mention that there are many 2% cash back cards out there for a catch-all. I didn't include this since you were only asking about a PC.

So, I think it really comes down to wether the 5% rotating categories or the 1.5% catch all has more value to you.

Re: PC the OG Chase Slate to __________ (Your input here)

FicoMike0 — Sun, 12 May 2024 18:08:23 GMT

@GZG has a good option 4. I tend to avoid af cards, but that 75000 sub is tempting if you can make the $4000/3 months. Easily pays the $95 af, then pc it at year end.

Re: PC the OG Chase Slate to __________ (Your input here)

ptatohed — Sun, 12 May 2024 19:07:16 GMT

Like danzig mentioned, I'll be the guy that comes along to mention a 2%+ every day card. OP, I know this only half answers your question but I would recommend PCing to a freedom flex, then applying for a nice uncapped 2%+ card, preferably one with a healthy intro bonus. GL!

Re: PC the OG Chase Slate to __________ (Your input here)

SouthJamaica — Sun, 12 May 2024 19:45:34 GMT

@RonMcKelly81 wrote:
New to the world of smartly utilizing credit card for purchases. Quick bio:

1. Single, no Kids
2. Amex Blue Cash Everyday (primary card used)
3. Captial One Savor Rewards (just opened 2 days ago - so I can travel overseas without FTF)
4. Chase Slate (original) - almost never use since I get no cashback (I prefer cashback and don't want points)
5. Just financed a new card in January and my credit score jumped from 798 to 805
6. Currently a renter and live in NY (HCOL) but I may rent for another year or two if rates drop or rent indefinitely

Questions:

1. What would be a good card to PC to from the Chase Slate?
2. Is it a better plan to let the Chase Slate get closed by Chase or close it myself and sign up for a 3rd card? I'd feel comfortable with a max of 3 cards to manage all purchases for at least the next year as i'm only used to 1
3. If I close the slate and open another card for cashback, will it affect my credit and for how long and does it really matter (say dropping 5 points)?
4. Here is my plan of action:

a. use the SO card for most purchases and primary driver
b. use the BCE card for gas only
c. open/PC a 3rd card and use it for ___________ (your input here)

Thanks in advance!

For you it would make sense to PC to one of the Freedom cards.

Re: PC the OG Chase Slate to __________ (Your input here)

NoMoreE46 — Mon, 13 May 2024 00:23:26 GMT

FYI, the BCE gets 3% back for on-line purchases which is better than the Savor One.

I don't know what your current CL is with Amex, but you can get 3X CLI. Amex (for the most port) and CapOne CLIs requests are SP.

Keep the Slate open.

If you do open another Chase card, you should have the option to reallocate the Slate CL to that new card.

What is your biggest spend category/ what kind of Rewards {like miles} do you want?

Re: PC the OG Chase Slate to __________ (Your input here)

RonMcKelly81 — Mon, 13 May 2024 12:49:10 GMT

Wow, thanks for all the thoughtful ideas and replies. A bit overwhelming since I am so new to learnign this material. That said ...

1. For my AMEX (used almost exclusively) :

40% of my cashback was "other" @ 1%
35% "grocery" @ 3%
12% "gas" @ 3%
13% "online retail" @ 3%
- total cashback since Jan 1 = about $130-150

2. I want cashback and not miles/points for the foreseeable future (just more comfortable with this system)

3. I'm getting advice to

keep the slate and open another card
PC the slate and open another card
- this does feel a littler overwhelming as I just got the SavorOne Rewards in the event I travel outside of the US in the near future

4. Based on my updated info with the cashback spending I've earned, does this change any of the recommendations by you all?

Thanks!

Re: PC the OG Chase Slate to __________ (Your input here)

GZG — Mon, 13 May 2024 15:12:20 GMT

@RonMcKelly81 wrote:
Wow, thanks for all the thoughtful ideas and replies. A bit overwhelming since I am so new to learnign this material. That said ...

1. For my AMEX (used almost exclusively) :
40% of my cashback was "other" @ 1%
35% "grocery" @ 3%
12% "gas" @ 3%
13% "online retail" @ 3%
total cashback since Jan 1 = about $130-150
2. I want cashback and not miles/points for the foreseeable future (just more comfortable with this system)
3. I'm getting advice to
keep the slate and open another card
PC the slate and open another card
this does feel a littler overwhelming as I just got the SavorOne Rewards in the event I travel outside of the US in the near future
4. Based on my updated info with the cashback spending I've earned, does this change any of the recommendations by you all?

Thanks!

since the vast mjaority of your spend is in that "other" category, the math says you want to earn higher than 1% in that category.

the simplest way to accomplish this is to PC your slate into the Chase Freedom Unlimited and if that's all you wanted to do, you would be done and you'd earn 50% more on that spend in categories not covered by grocery/gas/online retail.

You could also consider applying for the Chase Freedom Unlimited in branch for that elevated bonus offer 5% offer, so you could use that card for Gas/Groceries and other for the year, but that's just a thought.

You could also consider opening a 2% card for that other category to earn double on the other category purchases: WF active cash, Paypal Mastercard, Citi double cash, sofi credit card, fidelity visa

Re: PC the OG Chase Slate to __________ (Your input here)

RonMcKelly81 — Tue, 14 May 2024 13:41:35 GMT

So i did some investigating and the reason my 1% category in the BCE is 40% of my rewards is because its for food,bars,restaurants! Wow.

Now it seems i'll be using my new Savor One for Dining/Bars/Takeout, BCE for Gas, and will have to investigate which Chase card to PCE to now that I know much of my spending not accounted for is dining.

So Freedom Flex now may make the most sense? Also, what purchases are typically considered as "Other"?

Summary:

1. Savor One for hotels, dining, entertainment, streaming, grovery

2. BCE for online retail, gas

3. Freedom Flex for whatever categories are the best in that quarter

Re: PC the OG Chase Slate to __________ (Your input here)

ptatohed — Tue, 14 May 2024 14:49:01 GMT

@RonMcKelly81 wrote:
So i did some investigating and the reason my 1% category in the BCE is 40% of my rewards is because its for food,bars,restaurants! Wow.

Now it seems i'll be using my new Savor One for Dining/Bars/Takeout, BCE for Gas, and will have to investigate which Chase card to PCE to now that I know much of my spending not accounted for is dining.

So Freedom Flex now may make the most sense? Also, what purchases are typically considered as "Other"?

Summary:

1. Savor One for hotels, dining, entertainment, streaming, grovery
2. BCE for online retail, gas
3. Freedom Flex for whatever categories are the best in that quarter

I know you don't want to add too many new cards but you may want to start thinking about getting 5% CB on your higher spends cats. The Redstone Visa Sig has 5% on rest's and gas all year long. And a very nice list of 3% as well. And if you ever did spend in an 'other' cat, at least you get 1.5% instead of 1%. There are other cards too that can get you 5% all year in your highest spend cat.

https://www.redfcu.org/personal/credits-cards/visa-signature/