Before everyone gets outraged about whether or not there was an HP... first, let's find out if there actually was one. And second, let's make sure the decline wasn't actually caused by something else.
It's possible that the app was denied for a reason unrelated to a product discontinuation in the near future, and that the recon team merely mentioned that fact secondarily... as in, "sure, we could reconsider the decision for you, but just so you know, we're discontinuing that card soon anyways so you might not want to waste your time."
If, in fact, the only reason for the decline was because the card is getting discontinued soon, and OP took an HP, then at that point there is definitely reason for outrage.
Total Loan Balance: $43k / $65k
Total SL: $78k
Everybody is arguing about the HP and am just sitting here thinking "Wow, banks are really trying to cut their losses hard"
The point of balance transfers cards is the lender "purchases" your debt from another lender hoping that you won't pay it in full during the promo period and then start charging you interest while you don't default, they are not offering those cards out of the goodness of their heart. The fact that Chase is getting rid of the best balance transfer card on the market tells me that they are done with defaults and that lenders in general are skipping the credit card game since consumers did a pretty good job taking advantage of it.
@patoot10 wrote:Everybody is arguing about the HP and am just sitting here thinking "Wow, banks are really trying to cut their losses hard"
The point of balance transfers cards is the lender "purchases" your debt from another lender hoping that you won't pay it in full during the promo period and then start charging you interest while you don't default, they are not offering those cards out of the goodness of their heart. The fact that Chase is getting rid of the best balance transfer card on the market tells me that they are done with defaults and that lenders in general are skipping the credit card game since consumers did a pretty good job taking advantage of it.
Or they're just planning to introduce a different Balance transfer card... maybe one in the Ultimate Rewards universe? That would be cool.
Too early to jump to any conclusions.
Maybe not enough people are paying the BT fee, opting instead to shift balances to the card using free methods. I shift balances around between my cards all the time for free, just by stategizing where I make large charges to one card and large payments to a different card. I never understood why anyone would pay a BT fee for something they can do for free with a little strategy and patience.
For example, I "moved" $2k from one card to a different card just last week, simply by charging my rent to the new card and making an equal-sized payment to the old card. I not only avoided the 5% BT fee, but I earned 3% cashback by doing it 
If everyone else is using that strategy, then BT cards are fairly worthless when compared to a standard 0% intro APR on purchases card, like the Freedom Unlimited.
^^
That's a good thought. But if Chase was planning on introducing a new product to replace the Slate card it would make sense to trasnfer current Slate holders to the new product not the freedom and freedom unlimited.
@patoot10 wrote:^^
That's a good thought. But if Chase was planning on introducing a new product to replace the Slate card it would make sense to trasnfer current Slate holders to the new product not the freedom and freedom unlimited.
True, but see the last part of that post that I added with an edit a moment ago - maybe enough people like me are circumventing BT fees that they aren't a worthwhile card offering anymore.
