How is credit going to get extended if there is no product?
@bourgogne if this was any lender other than Chase, you'd be in total agreement.
hey, are you calling me out?! lol
here is the deal. lets say legally you are correct, there is no permissible purpose. this is all academic; unless the op, his wife or a friend is a lawyer with time on there hands, nobody is going to take on chase for a $1k fcra violation. there is no punitive damage. as humans we make mistakes all the time. big companies are filled with humans, they are no different. we are talking about a 3-5pt mistake that will self-correct in a year. just thinking big picture here
For me, the big picture is a single HP can cost me a CLI or approval. Due to my spreeing last year, I can't get a CLI because of too many recent inquiries. Now say I fell below whatever internal inquiry limit a lender has and am now eligible for a CLI or app approval. I chose to app for the slate and was denied because they're discontinuing the product. At this point, I'm being financially impacted by their mistake. Say the next inquiry doesn't fall for 6 months, but I need a BT card now. Should I let it go because "mistakes happen"?
BTW, I read the entire thread so I know the outcome. My question is theoritical based on your response.
I got a preapproval in the mail as well. I was pretty surprised because I understood Slate to be Chase’s entry level product and I’m in deep with Chase already.
Seems surprising they’d include me in a Slate push, but who knows. I trashed it. No interest.
While lower level than CSR/CSP (just because of Sig/Infinite limits), I don't think the Slate is more entry level than say the Freedom. Maybe that want you to do a balance transfer!
The Slate is not a great card. It is for that initial balance transfer only, once that intro APR runs out it if there is any balance left you can't pay off will get hammered and need to transfer it off. There are plenty of other balance transfer offers out there.
Hmmm DW's only credit card is the Slate, which she pays off every month, has a $10k limit - Her Fico's are all around 807+, Maybe she should app for a Freedom Unlimited and combine CL's.................... Thanks for the heads up about this
This is true. I just talked to them today. I was checking my mortgage account with them online and the Slate card popped up as an offer for me, reminding me that it does not have a BT fee. Since, I only have 5k on Discover @4.99 (then I am CC debt-free!!!!) which will expire in September 2019, why not? However, I called to verify that I would still qualify since it was just a few months ago Chase transferred my Slate card to a Freedom card because Slate was being discontinued. And wanted to know when they were officially discontinuing and what would happen with any balance I had left?
The CSR's responses were:
1) Yes, the Slate card is being discontinued. No, she does not know when.
2) Yes, it is still on the webpage because as of today it is still a card that can be applied for. ( she did not/would not say a card that is being issued)
3) No, she doesn't know if I would be denied because I was already a Slate holder that was transferred to Freedom because of the discontinuance of Slate. The only thing she could suggest was that I apply and see what happens, it would be up to the "lenders" (??). It would be the only way to find out.
So, I jumped on the computer to research it. And here we are!!
Side note: My mortgage was sold to them a few months back. My rate is 5.57% Since, I was already thinking about refinancing at these rates, at that time 3.5%, AND as I said I had a Slate which i put a balance transfer on and paid if off, so I called and asked what they could do for me. I owe less than 75K and it appraises at over 180K. I have a score of over 750, I have been at the same company for over 12 years. I make over 60K and as I said the only credit card debt I have is 5k. I have no car payment. What they offered was barely under what I have now. Of course, I shopped around EVERYONE else came in at about the same...3.75%!!
WHAT is going on CHASE??
WHAT is going on CHASE??
It often feels like Chase makes their lending decisions with a blindfold and a dartboard. Some people with seemingly great profiles get lousy terms or declined outright, while other people with seemingly lousy profiles get good approvals.
One thing is clear, they don't rely on only one or two factors (like income and credit score) when they make their decisions, rather it seems they compile a huge amount of data from all kinds of different sources, some of which we probably don't even know about. Prior relationships with their bank (or lack thereof) seems to play a fairly large role, whereas many banks don't seem to care much about prior relationships.
That's still a decent chunk of change being saved annually, which adds up. Who couldn't use an extra $1500ish Dollars ever year?