topic Re: Chase Slate in Credit Cards

Chase Slate

0x47 — Wed, 11 Sep 2013 06:17:12 GMT

Has anyone recently applied for a Chase Slate credit card? Any experience on how much of a credit line they offer to new customers? We're still trying to pay down a big chunk of credit card debt (~started at 19K at the beginning of the year and we're at ~9K now), and the credit line's introductory APR is expiring soon (so we're looking at 11.5% instead of 1.9%).

I've read that Chase Slate has 0% for 15-months and I'm hoping we have a chance of applying and getting a credit line large enough to make a sizeable dent in interest charges. But if I'm going to burn a hard inquiry and only get a $1K credit line that really isn't going to help.

I have a $5K credit line with Chase already but a Sapphire card. Any idea if I could "transfer" the credit limit to a new card if I apply for a new one? Also if they offer a really low CL is there a way I can not accept the "offer" and just take the inquiry hit without taking the new credit line hit?

Any thoughts? FICO is 756 now.

Re: Chase Slate

oscar_actuary — Wed, 11 Sep 2013 06:17:31 GMT

anecdotally, I had a $16k freedom and applied in 2011 for Slate and they gave me $8,000. The %0 Transfer fee is sweet, too.

Also, I recently rolled it into my Freedom and cancelled the Slate. But I cannot confidently say they would do that for a %0 card. Maybe call and request. idk.

Re: Chase Slate

0x47 — Wed, 11 Sep 2013 06:21:27 GMT

By "rolled" do you mean the credit line no longer shows up on your FICO report? Or just that you closed the card and moved the $8K CL over to the $13K card (and FICO reports your old Slate as closed)?

Re: Chase Slate

oscar_actuary — Wed, 11 Sep 2013 06:33:51 GMT

I might have been loose with the language, so I'll square it away.

I emailed a request asking if I could move the $8000 to the Chase Freedom, and then immediately close the Slate.

They said they could.

I said, lets do it.

The next day I looked online and sure enough, Slate was closed and Freedom cl was $8k higher

I have not looked at a Credit Report since.

I imagine I could have transferred some, and kept both cards. But I see how my example may not be specifically applicable

ETA: I would be surprised if the Slate is not on the Credit Reports for several more years, as closed.

Re: Chase Slate

youngandcreditwrthy — Wed, 11 Sep 2013 12:41:40 GMT

I think you can app for Slate. If not approved or the CL is too low- you can ask to move cl over. You may have to call recon tho.
I, however, am willing to bet you get instantly approved assuming your aaoa is 2+ years, and your util is overall relatively low@30% or less.
Let us know how it goes!

Re: Chase Slate

vladrad — Wed, 11 Sep 2013 14:19:36 GMT

I think You will get 3.2k

I have chase freedom 5k and just got chase slate on 3.2k.

Re: Chase Slate

takeshi74 — Wed, 11 Sep 2013 14:26:23 GMT

@0x47 wrote:
Any experience on how much of a credit line they offer to new customers?

All depends on one's credit.

@0x47 wrote:
Also if they offer a really low CL is there a way I can not accept the "offer" and just take the inquiry hit without taking the new credit line hit?

Nope. HP hits when you apply, not when you activate. The HP probably isn't as big of a hit as AAoA anyway.

@0x47 wrote:

Any thoughts? FICO is 756 now.

As always, it's not just about the score. What's your utilization like? 19K to 9K sounds like a significant improvement.

Re: Chase Slate

youngandcreditwrthy — Wed, 11 Sep 2013 18:03:35 GMT

+1@takeshi
We need:
Aaoa:
Util:
Income(if you're comfy providing that):

Other ccs and limits.
This is what creditors look at and how we can make a recommendation.

Bc if you owe $9,000 out of $10000 avail, may not get approved.
However, if you have more avail credit, say $50k or $100k, that 9k doesnt look so bad.
This is why it's great to have phat, unused credit lines :-) lol

Re: Chase Slate

WEShinego — Wed, 11 Sep 2013 23:34:57 GMT

I applied last night for Slate and got the 30-day message. They pulled Experian, which bummed me out, because it's my worst score at 660 FICO. I followed forum advice and called the recon number the following morning. My application denial was reversed and--after a handful of questions--I received my approval. The customer service experience was excellent. All of Chase's representatives were polite as they listened to what I had to say.

- I have a checking account with Chase.
- I have a Chase Military Free Cash Rewards MasterCard.
- I have three smaller collections that were satisfied about two-three years ago.
- I told the recon officer that I was interested in growing my relationship with Chase because of their military-friendly products.

Re: Chase Slate

0x47 — Fri, 13 Sep 2013 00:08:22 GMT

My overall count of credit lines is $50K (the last card I applied for gave us a $22K line with 1.9% for a year to help us consolidate my wife's debt and my debt), so utilization is about 20%. AAoA is floating around 4.5 years (I haven't recalculated it with the new mortgage and auto loan) and two incomes put us over $100K (big increase with a major job change). Its a little mind boggling how many changes have happened this year.

The biggest drag on our reports would probably be the new mortgage (yay!) and the new auto loan (not so yay!).

With the exception of that $22K CL, I have 5 other CLs for which three are store cards and they range from $4K to 8K limits. The auto loan and one $5K CC are accounts with Chase.

I'll probably go through the application process tonight so that we can have the balance transferred in a few weeks (their website states 2 weeks for a transfer), and I figure it might take a few days more for recon or moving credit limits around.

Re: Chase Slate

0x47 — Fri, 13 Sep 2013 00:36:33 GMT

OK, that application process was quicker than I thought it would be. They granted a CL of $5700 (not exactly as much as I need but I can recon or move balances around) but with a 22.99% APR (what the heck). At least its 15 months 0% interest. After that it'll probably go in the sock drawer if they never lower that interest rate.

Apparently the recon department is open right now, so let's see if I can get anywhere.

UPDATE: They said it would take 7-10 business days to receive a decision, so fingers crossed that the additional HP will be worth it.

UPDATE: Oh this is interesting. I logged into Chase just now and I see that my current Sapphire card has a few balance transfer offers as well. Balance transfer fee of 3% though, so I'd have to do the math and figure if the fee is worth it. That's "Plan B" if the CLI does not go through.

Re: Chase Slate

09Lexie — Fri, 13 Sep 2013 02:05:38 GMT

Congrats on the approval! Keep us posted if the CLI was successful.

Re: Chase Slate

0x47 — Fri, 13 Sep 2013 04:28:24 GMT

I will. My guess is that they'll take their sweet time making a decision, but I'll be calling in daily using the automated system to check . I asked for a $10K limit and I'm hoping they'll grant it. (I am also hoping next year I can call recon and ask them to lower the interest rate. Its horrible.)

Re: Chase Slate

0x47 — Mon, 16 Sep 2013 02:19:53 GMT

I checked the automated line on Friday, and called them on Saturday to confirm ... but I was approved for the $10K limit. They refused to do anything about the interest rate but it looks like for the next 15-months we won't need to pay any interest on the balance. Yay! Definitely going to be able to pay that down by then, so maybe by the end of next year we'll be consumer debt free. Just a mortgage, auto, and student loans.

Oh man do I wish I could get 0% on student loans .

Re: Chase Slate

Anonymous — Mon, 16 Sep 2013 02:20:48 GMT

@0x47 wrote:
I checked the automated line on Friday, and called them on Saturday to confirm ... but I was approved for the $10K limit. They refused to do anything about the interest rate but it looks like for the next 15-months we won't need to pay any interest on the balance. Yay!

Congrats!

From the start of the thread I was thinking you were going to get a 5 digit limit on instant approval. I guess it was a little harder than that, but at least you came away with what you needed.

I think the slate is the only no fee 0% offer right now. Again, congrats!

Re: Chase Slate

09Lexie — Mon, 16 Sep 2013 02:24:02 GMT

Congrats on your approval and nice CL!

Re: Chase Slate

0x47 — Mon, 16 Sep 2013 03:07:24 GMT

@Anonymous wrote:
@0x47 wrote:
I checked the automated line on Friday, and called them on Saturday to confirm ... but I was approved for the $10K limit. They refused to do anything about the interest rate but it looks like for the next 15-months we won't need to pay any interest on the balance. Yay!
Congrats!

From the start of the thread I was thinking you were going to get a 5 digit limit on instant approval. I guess it was a little harder than that, but at least you came away with what you needed.

I think the slate is the only no fee 0% offer right now. Again, congrats!

I figured with a new mortgage, a new auto, and ~20% utilization we were in for a tough fight. At the end of the 15-mo period we'll have it paid off and I'll ask them to move the credit line over to my Chase Sapphire. If they can do that without raising the interest rate that would be awesome. Slate seems to be the ONLY card that I can find with 0% balance transfer fee ... but only for the first 60 days.

If anything, that 22.99% rate is a good indicator that its time for me to garden for a while.

The debt consolidation / elimination continues!

Re: Chase Slate

Anonymous — Mon, 16 Sep 2013 03:29:50 GMT

@0x47 wrote:
@Anonymous wrote:
@0x47 wrote:
I checked the automated line on Friday, and called them on Saturday to confirm ... but I was approved for the $10K limit. They refused to do anything about the interest rate but it looks like for the next 15-months we won't need to pay any interest on the balance. Yay!
Congrats!

From the start of the thread I was thinking you were going to get a 5 digit limit on instant approval. I guess it was a little harder than that, but at least you came away with what you needed.

I think the slate is the only no fee 0% offer right now. Again, congrats!

I figured with a new mortgage, a new auto, and ~20% utilization we were in for a tough fight. At the end of the 15-mo period we'll have it paid off and I'll ask them to move the credit line over to my Chase Sapphire. If they can do that without raising the interest rate that would be awesome. Slate seems to be the ONLY card that I can find with 0% balance transfer fee ... but only for the first 60 days.

If anything, that 22.99% rate is a good indicator that its time for me to garden for a while.

The debt consolidation / elimination continues!

Installment loans aren't as scary to them as long as they are supported by your income. 20% isn't too bad especially when the app is for a card designed around BTs.

I think Chase is just evil with their after promo interest rates...They gave me the same 22.99% on my Freedom card.