topic Re: Slate to Freedom in Credit Cards

Slate to Freedom

Turbobuick — Thu, 31 Jul 2014 20:47:01 GMT

Sorry if this is redundant. My search found that moving CL is no problem, but I have not yet opened a Freedom acct. and have a few question before I apply.

I have had the slate card since 2005 CL $25K. I only applied for the card as it had cheap money attached to it. I borrowed 15K at 2.99% fixed until paid off. Anyways, that was back when I was cash strapped and it worked out very well.

Fast forward, I don't even think of pulling this card out for anything because it's basically a dinosaur without incentives. Is it better to...

1. get the Freedom card separately, (I'm pretty sure they will toss me a $11K CL on opening. That seems typical to my history and plenty for our needs.)

2. keeping both cards, keeping slate in sock drawer

3. suggest closing Slate simultatenously with opening Freedom

4. any other ideas?

Re: Slate to Freedom

Skye12329 — Thu, 31 Jul 2014 20:55:22 GMT

Im not sure if you can with Chase, but see if you can product change your slate to the freedom card.

Or open a freedom card and move all but $500 to it from your slate to your freedom card that way you could have a large limit. Thats if your never going to use the card again.

Re: Slate to Freedom

hizzaah — Thu, 31 Jul 2014 21:04:27 GMT

you should be able to PC. If you don't mind the inquiry, then you could (as suggested) app for the Freedom, transfer the limit, and then close or SD the Slate.

You can check the Chase pre-qual site to see if you're pre-qualified for the Freedom!

https://creditcards.chase.com/prequalified-offers?iCELL=60XS&jp_ltg=leftnav&S81H=Y71UH0

Re: Slate to Freedom

Anonymous — Thu, 31 Jul 2014 21:06:11 GMT

@Skye12329 wrote:
Im not sure if you can with Chase, but see if you can product change your slate to the freedom card.

Or open a freedom card and move all but $500 to it from your slate to your freedom card that way you could have a large limit. Thats if your never going to use the card again.

I think the section I highlighted as the best idea.

Re: Slate to Freedom

Anonymous — Thu, 31 Jul 2014 21:07:36 GMT

@hizzaah wrote:
you should be able to PC. If you don't mind the inquiry, then you could (as suggested) app for the Freedom, transfer the limit, and then close or SD the Slate.

You can check the Chase pre-qual site to see if you're pre-qualified for the Freedom!
https://creditcards.chase.com/prequalified-offers?iCELL=60XS&jp_ltg=leftnav&S81H=Y71UH0

I think the OP might want to keep the Slate just for the age of the account. I know it will still report for 10 more years as a positive tradeline, but that account is ten years old, and maybe worth keeping since it has no AF.

Re: Slate to Freedom

Turbobuick — Thu, 31 Jul 2014 21:35:36 GMT

@Anonymous wrote:
@hizzaah wrote:
you should be able to PC. If you don't mind the inquiry, then you could (as suggested) app for the Freedom, transfer the limit, and then close or SD the Slate.

You can check the Chase pre-qual site to see if you're pre-qualified for the Freedom!
https://creditcards.chase.com/prequalified-offers?iCELL=60XS&jp_ltg=leftnav&S81H=Y71UH0
I think the OP might want to keep the Slate just for the age of the account. I know it will still report for 10 more years as a positive tradeline, but that account is ten years old, and maybe worth keeping since it has no AF.

Funny thing about prequalifying.... a few years ago, I got annoyed by all the cc offers by mail as I felt the need to shred every one. Hence I sent notice to the credit bureaus, "NO MORE SPAM and opted out of all mailings!" It worked, but now I got this at the above URL...

We are unable to locate any offers for you at this time.

This may be because you have opted out of "prescreened" offers from Chase
and other companies or you have recently responded to another offer from Chase.

However, we may still have products to meet your needs. Please continue to Chase.com.

My AAoA says 11 years as of June, but I bet it's on the way down. This site creates a buzz of activity and my accounts are getting stirred up! LOL! Basically getting rid of a lot of old stuff and adding new stuff. ie; the best rebate cards for my needs. Not to mention BofA required me to get a new business Visa to avoid banking fees. So there's been more activity on my credit in the last year or two than in 20 previous.

Re: Slate to Freedom

Closingracer99 — Thu, 31 Jul 2014 23:13:30 GMT

@Turbobuick wrote:
Sorry if this is redundant. My search found that moving CL is no problem, but I have not yet opened a Freedom acct. and have a few question before I apply.

I have had the slate card since 2005 CL $25K. I only applied for the card as it had cheap money attached to it. I borrowed 15K at 2.99% fixed until paid off. Anyways, that was back when I was cash strapped and it worked out very well.

Fast forward, I don't even think of pulling this card out for anything because it's basically a dinosaur without incentives. Is it better to...

1. get the Freedom card separately, (I'm pretty sure they will toss me a $11K CL on opening. That seems typical to my history and plenty for our needs.)
2. keeping both cards, keeping slate in sock drawer
3. suggest closing Slate simultatenously with opening Freedom
4. any other ideas?

I would just App for the Freedom and move the limits around ... Slate has no AF and just sock drawer it and buy some water or gum with it every few months. If you PC it to the Freedom you would lose the $100 dollar bonus sign up which I would think is worth the HP imo

Re: Slate to Freedom

jamesdwi — Fri, 01 Aug 2014 00:37:01 GMT

@Closingracer99 wrote:
@Turbobuick wrote:
Sorry if this is redundant. My search found that moving CL is no problem, but I have not yet opened a Freedom acct. and have a few question before I apply.

I have had the slate card since 2005 CL $25K. I only applied for the card as it had cheap money attached to it. I borrowed 15K at 2.99% fixed until paid off. Anyways, that was back when I was cash strapped and it worked out very well.

Fast forward, I don't even think of pulling this card out for anything because it's basically a dinosaur without incentives. Is it better to...

1. get the Freedom card separately, (I'm pretty sure they will toss me a $11K CL on opening. That seems typical to my history and plenty for our needs.)
2. keeping both cards, keeping slate in sock drawer
3. suggest closing Slate simultatenously with opening Freedom
4. any other ideas?
I would just App for the Freedom and move the limits around ... Slate has no AF and just sock drawer it and buy some water or gum with it every few months. If you PC it to the Freedom you would lose the $100 dollar bonus sign up which I would think is worth the HP imo

+1 ... its an old card with history, and Chase has been known to give out BT deals, most likely a Freedom card will come with a decent CL if not augment it from the slate card, don't see the reason to have an excessive amont of CL on a freedom card, it has a high interest rate compared to what is availible, usually around 22%. Just set the CL on the freedom card to what ever you feeel your worst case spend over a 2 month period and double it to sure you won't go over 50% of its UTL, you can move more from the slate card if the need arrises.

Re: Slate to Freedom

Chaselover — Fri, 01 Aug 2014 15:17:50 GMT

@Turbobuick wrote:
Sorry if this is redundant. My search found that moving CL is no problem, but I have not yet opened a Freedom acct. and have a few question before I apply.

I have had the slate card since 2005 CL $25K. I only applied for the card as it had cheap money attached to it. I borrowed 15K at 2.99% fixed until paid off. Anyways, that was back when I was cash strapped and it worked out very well.

Fast forward, I don't even think of pulling this card out for anything because it's basically a dinosaur without incentives (loll). Is it better to...

1. get the Freedom card separately, (I'm pretty sure they will toss me a $11K CL on opening. That seems typical to my history and plenty for our needs.)
2. keeping both cards, keeping slate in sock drawer
3. suggest closing Slate simultatenously with opening Freedom
4. any other ideas?

Depends on what you care more from below ?

1. If u care increasing an inquiry or reducing your AAoA, just PC the Slate to Freedom.

2. If you care Utilization, apply separately and move limits around.

Re: Slate to Freedom

hyprble — Fri, 01 Aug 2014 16:42:18 GMT

I was able to PC from Slate to Freedom no problem. I did the PC because the Slate was my oldest account (didn't want my AAoA to drop) and I didn't want any additional inquiries. Since I'm gardening, I'd rather waste a new account opening/inquiry with a better CC bonus (probably a milage card)

Re: Slate to Freedom

Anonymous — Fri, 01 Aug 2014 16:53:49 GMT

I would not close that 10 year old slate card. No AF and its helping your AAOA. No reason to close it, even if it does report for 10 more years. In 10 years your AAOA will take a hit.

Re: Slate to Freedom

Chris679 — Fri, 01 Aug 2014 18:00:30 GMT

Its always better to avoid the inquiry and new account if you can. PC from Slate to Freedom and don't take no for an answer if they tell you they cant do it. They can and will do it. The only way I would get a new card is if you needed the 0% APR and then I would still PC the Chase card and just open another card and have two rewards cards.

Re: Slate to Freedom

Closingracer99 — Fri, 01 Aug 2014 18:10:40 GMT

@Chris679 wrote:
Its always better to avoid the inquiry and new account if you can. PC from Slate to Freedom and don't take no for an answer if they tell you they cant do it. They can and will do it. The only way I would get a new card is if you needed the 0% APR and then I would still PC the Chase card and just open another card and have two rewards cards.

You won't get the $100 Signup bonus ... $100 signup bonus is worth a HP or 2

Re: Slate to Freedom

Closingracer99 — Fri, 01 Aug 2014 18:14:13 GMT

@hyprble wrote:
I was able to PC from Slate to Freedom no problem. I did the PC because the Slate was my oldest account (didn't want my AAoA to drop) and I didn't want any additional inquiries. Since I'm gardening, I'd rather waste a new account opening/inquiry with a better CC bonus (probably a milage card)

People which thicker files AAoA hit will be less then somebody then say me who AAoA is about 5 months now. Oldest card I got is 13 months old

Re: Slate to Freedom

Turbobuick — Fri, 01 Aug 2014 22:36:01 GMT

@Closingracer99 wrote:
@hyprble wrote:
I was able to PC from Slate to Freedom no problem. I did the PC because the Slate was my oldest account (didn't want my AAoA to drop) and I didn't want any additional inquiries. Since I'm gardening, I'd rather waste a new account opening/inquiry with a better CC bonus (probably a milage card)
People which thicker files AAoA hit will be less then somebody then say me who AAoA is about 5 months now. Oldest card I got is 13 months old

Yeah, thanks. I'm not worried about a HP and the bonus cash sounds good. My last Fico report said my oldest account was 29+ years old. So safe to bet older than many of the populous here.

I will keep the Slate tucked away and open the Freedom later this month. Thanks everyone!

Re: Slate to Freedom

signaturecardmember — Sat, 02 Aug 2014 00:19:41 GMT

it is older then I am actually lol While youre applying I would also apply for a 2nd card at the same time. It is not always promised but in many people's cases (and mine) it resulted in only one HP and you will get additional CL to move around or use.

Re: Slate to Freedom

Turbobuick — Sat, 02 Aug 2014 00:31:18 GMT

@signaturecardmember wrote:
it is older then I am actually lol While youre applying I would also apply for a 2nd card at the same time. It is not always promised but in many people's cases (and mine) it resulted in only one HP and you will get additional CL to move around or use.

ya, I'm a fossil compared to most here. On the app page is says,

"EARN A $100 BONUS after you spend $500 on purchases in your first 3 months from account opening*

Earn a $25 bonus when you add your first authorized user and make your first purchase within this same 3-month period.*"

If I apply for 2 cards initially, do I miss out on the $25 incentive? I'm really not concerned at all with CL. I have 5x more credit on plastic than I'll ever need.

Re: Slate to Freedom

newhis — Sat, 02 Aug 2014 04:01:02 GMT

@Turbobuick wrote:
@signaturecardmember wrote:
it is older then I am actually lol While youre applying I would also apply for a 2nd card at the same time. It is not always promised but in many people's cases (and mine) it resulted in only one HP and you will get additional CL to move around or use.
ya, I'm a fossil compared to most here. On the app page is says,

"EARN A $100 BONUS after you spend $500 on purchases in your first 3 months from account opening*

Earn a $25 bonus when you add your first authorized user and make your first purchase within this same 3-month period.*"

If I apply for 2 cards initially, do I miss out on the $25 incentive? I'm really not concerned at all with CL. I have 5x more credit on plastic than I'll ever need.

I don't know, wy wife got the Freedom and after a week added an AU. She got $200+$25 after the $500 purchases. Got the card with a promotion.

Re: Slate to Freedom

Turbobuick — Sat, 02 Aug 2014 04:47:44 GMT

@newhis wrote:
I don't know, wy wife got the Freedom and after a week added an AU. She got $200+$25 after the $500 purchases. Got the card with a promotion.

That's cool! I already have two Chase cards, the Slate and the Amazon Rewards, so the Freedom will be #3. Gonna wait a week or two. Sign myself up, then add the wife a couple weeks later.

Re: Slate to Freedom

Closingracer99 — Sun, 03 Aug 2014 04:40:48 GMT

@Turbobuick wrote:
@signaturecardmember wrote:
it is older then I am actually lol While youre applying I would also apply for a 2nd card at the same time. It is not always promised but in many people's cases (and mine) it resulted in only one HP and you will get additional CL to move around or use.
ya, I'm a fossil compared to most here. On the app page is says,

"EARN A $100 BONUS after you spend $500 on purchases in your first 3 months from account opening*

Earn a $25 bonus when you add your first authorized user and make your first purchase within this same 3-month period.*"

If I apply for 2 cards initially, do I miss out on the $25 incentive? I'm really not concerned at all with CL. I have 5x more credit on plastic than I'll ever need.

No That is $25 for your first AU account and use of the AU on the account. IF you also applied for the CSP for example that is a different account and you would still earn it that bonus