Anything I Can Do to Switch from Chase Slate to Freedom?

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Honestly, the Amex gold doesn't look like anything special to me.  I'd try to PC that to an Amex Everyday Preferred or something similar for the MR points.  - he already earns MR points with the gold card and if he PCed to the EDP card, he wouldn't get any bonus MR points.  Zero reason for him to do that

Personally, if I were in your shoes (expenses justify the AF), I'd PC to the Amex Blue Cash Everyday after opening a Chase Sapphire Preferred.  The CSP points are valued higher than MR points from what I hear.  1 point on everything, 2 points on food and travel.  If points are valued at 2 cpp, that's a 2% on everything, 4% on food and travel card with a smaller AF than your Gold card.

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I get what you're saying.  Not so sure that he wants to play the "credit game" and lower his AAoA.  I gave my suggestion in the following paragraph (I did leave out cashing out the MR points, I assume that's self explanatory), but if we want to go down the EDP route:

Signup for the EDP card with spend bonus.  Get the bonus and transfer the GOLD card MR points to the EDP.  Close the gold card and get a good backup VISA/MC like the Citi Double Cash, BoA Travel Rewards, or Cap One QS card.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Honestly, the Amex gold doesn't look like anything special to me.  I'd try to PC that to an Amex Everyday Preferred or something similar for the MR points.  - he already earns MR points with the gold card and if he PCed to the EDP card, he wouldn't get any bonus MR points.  Zero reason for him to do that

Personally, if I were in your shoes (expenses justify the AF), I'd PC to the Amex Blue Cash Everyday after opening a Chase Sapphire Preferred.  The CSP points are valued higher than MR points from what I hear.  1 point on everything, 2 points on food and travel.  If points are valued at 2 cpp, that's a 2% on everything, 4% on food and travel card with a smaller AF than your Gold card.

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Thanks for the advice on the Gold card.  I also need to review my Amex options, but I'm going to put that decision off until my next AF payment comes due next February.  Amex told me that I can PC to whatever I want, so all options will be on the table.  That may be a subject for a new topic.

Right now, I'm just trying to get my Chase Slate card sorted out.  I'm leaning towards applying for a Freedom card or the Citi Double Cash card that you mentioned and then sock drawering my Slate card.  From what I'm reading on the SD thread, closing my oldest credit card account may be bad.  It would be ideal if someone knew some trick that I haven't tried or someone different to call to get a PC from my Slate card to Freedom.  Then I'd avoid a hard pull and sock drawering. 

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Hard to say why they are giving you a hard time with the PC attempt.  I'd call them back and ask again and find out why they won't make a simple change like this.  My only guess is that it has to do with the fact that you were converted to the card originally.  That's just a guess though.  There really isn't a trick, you just have to get the right CSR and find out the reason.

Closing your oldest card won't hurt you now as it will continue to report for 10 years and therefore not affect your AAoA.

i also agree with HappyCanper that one inquiry is not going to kill you and rewards you with at least $100 if you just apply for the Freedom

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Gonna have to disagree with you here.  10 years from now, when a 19 year old account stops reporting he'll likely see some reprecussions. 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Honestly, the Amex gold doesn't look like anything special to me.  I'd try to PC that to an Amex Everyday Preferred or something similar for the MR points.  - he already earns MR points with the gold card and if he PCed to the EDP card, he wouldn't get any bonus MR points.  Zero reason for him to do that

Personally, if I were in your shoes (expenses justify the AF), I'd PC to the Amex Blue Cash Everyday after opening a Chase Sapphire Preferred.  The CSP points are valued higher than MR points from what I hear.  1 point on everything, 2 points on food and travel.  If points are valued at 2 cpp, that's a 2% on everything, 4% on food and travel card with a smaller AF than your Gold card.

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Thanks for the advice on the Gold card.  I also need to review my Amex options, but I'm going to put that decision off until my next AF payment comes due next February.  Amex told me that I can PC to whatever I want, so all options will be on the table.  That may be a subject for a new topic.

Right now, I'm just trying to get my Chase Slate card sorted out.  I'm leaning towards applying for a Freedom card or the Citi Double Cash card that you mentioned and then sock drawering my Slate card.  From what I'm reading on the SD thread, closing my oldest credit card account may be bad.  It would be ideal if someone knew some trick that I haven't tried or someone different to call to get a PC from my Slate card to Freedom.  Then I'd avoid a hard pull and sock drawering. 

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Hard to say why they are giving you a hard time with the PC attempt.  I'd call them back and ask again and find out why they won't make a simple change like this.  My only guess is that it has to do with the fact that you were converted to the card originally.  That's just a guess though.  There really isn't a trick, you just have to get the right CSR and find out the reason.

Closing your oldest card won't hurt you now as it will continue to report for 10 years and therefore not affect your AAoA.

i also agree with HappyCanper that one inquiry is not going to kill you and rewards you with at least $100 if you just apply for the Freedom

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Gonna have to disagree with you here.  10 years from now, when a 19 year old account stops reporting he'll likely see some reprecussions. 

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Guess we're going to disagree.  By then most people have a strong enough credit file that that it wouldn't make a bit of difference.  AAoA isn't that big of a component in your credit score.  We see plenty of people that have very strong scores with a small  AAoA.  Now would I close the card? No but to worry about the effect 10 years from now on a scoring model that probably doesn't exist right now would be the least of my worries

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Honestly, the Amex gold doesn't look like anything special to me.  I'd try to PC that to an Amex Everyday Preferred or something similar for the MR points.  - he already earns MR points with the gold card and if he PCed to the EDP card, he wouldn't get any bonus MR points.  Zero reason for him to do that

Personally, if I were in your shoes (expenses justify the AF), I'd PC to the Amex Blue Cash Everyday after opening a Chase Sapphire Preferred.  The CSP points are valued higher than MR points from what I hear.  1 point on everything, 2 points on food and travel.  If points are valued at 2 cpp, that's a 2% on everything, 4% on food and travel card with a smaller AF than your Gold card.

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Thanks for the advice on the Gold card.  I also need to review my Amex options, but I'm going to put that decision off until my next AF payment comes due next February.  Amex told me that I can PC to whatever I want, so all options will be on the table.  That may be a subject for a new topic.

Right now, I'm just trying to get my Chase Slate card sorted out.  I'm leaning towards applying for a Freedom card or the Citi Double Cash card that you mentioned and then sock drawering my Slate card.  From what I'm reading on the SD thread, closing my oldest credit card account may be bad.  It would be ideal if someone knew some trick that I haven't tried or someone different to call to get a PC from my Slate card to Freedom.  Then I'd avoid a hard pull and sock drawering. 

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Hard to say why they are giving you a hard time with the PC attempt.  I'd call them back and ask again and find out why they won't make a simple change like this.  My only guess is that it has to do with the fact that you were converted to the card originally.  That's just a guess though.  There really isn't a trick, you just have to get the right CSR and find out the reason.

Closing your oldest card won't hurt you now as it will continue to report for 10 years and therefore not affect your AAoA.

i also agree with HappyCanper that one inquiry is not going to kill you and rewards you with at least $100 if you just apply for the Freedom

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Gonna have to disagree with you here.  10 years from now, when a 19 year old account stops reporting he'll likely see some reprecussions. 

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Guess we're going to disagree.  By then most people have a strong enough credit file that that it wouldn't make a bit of difference.  AAoA isn't that big of a component in your credit score.  We see plenty of people that have very strong scores with a small  AAoA.  Now would I close the card? No but to worry about the effect 10 years from now on a scoring model that probably doesn't exist right now would be the least of my worries

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Interesting.  I didn't know that credit cards continue to show on your AAoA for 10 years after closing.  I suppose it wouldn't do much harm to transfer the credit limit and close the Slate card.  It also wouldn't be much trouble to set the Slate card to autopay my water bill ($30/mo) so that Chase doesn't close it and then throw it in the SD.

I've decided that I'm going to call Chase once a month for the next two months about a PC before opening a new card.  Maybe I won't get what I want, but I can at least annoy the heck out of some CSRs.

[Anonymous]

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@Anonymous wrote:

How many recent inquiries do you have?  From the sounds of it, you only use 2 cards and they're both mature.  If this is the case and you don't have plans to acquire any large loans (mortgage), I wouldn't worry about the inquiry.  The people here who are inquiry sensitive have 8+ inquiries on each report.  If you don't fall into either category, an inquiry wont hurt too bad and you'll get a nice $100 signup bonus instead of getting nothing by PCing.

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I have one recent inquiry and have no plans to get any large loans in the near future.  The biggest thing holding back my credit score appears to be high utilization because my only cards are an Amex charge card and a Slate card with a crappy $2400 limit.  Perhaps adding another card and more credit would help my score more than the additional inquiry would hurt.  

[bigblue7722]

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@Anonymous wrote:

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@bigblue7722 wrote:

If history repeats itself last year chase offered a 200 dollar bonus instead of the normal 100 dollar bonus in June. I would personally wait till then to app for the card (unless you really want it now). After you get approved, ask to close the slate and move the limit to your freedom. 

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Was it in June?  I did some searching through old Slickdeals posts and the $200 offer was in November 2014 and 2013.  I'm planning to garden til then.  I hope it's not in June, I have no use for the card in the 5% gasoline category...

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Yes it always november. Last year was june as well. Here is a link showing everytime its been 200 for the bonus

http://slickdeals.net/newsearch.php?firstonly=1&forumchoice%5B%5D=4&forumchoice%5B%5D=9&forumchoice%5B%5D=10&forumchoice%5B%5D=13&forumchoice%5B%5D=25&forumchoice%5B%5D=30&forumchoice%5B%5D=38&forumchoice%5B%5D=39&forumchoice%5B%5D=53&forumchoice%5B%5D=54&mode=frontpage&q=chase+freedom