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Chase Slate vs: Chase Freedom Cards

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Valued Contributor

Re: Chase Slate vs: Chase Freedom Cards


@grillandwinemaster wrote:

@BrutalBodyShots wrote:

 

The only other thing I can think could be a factor is that the Slate may be easier to acquire.  If it's easier (generally speaking) to get approved for Slate over Freedom, that could be a reason that people decide to app for that product over the other.  I don't know if this is the case though, just throwing out another idea to consider.


This is an interesting point. If one would NEED a balance transfer card, that would indicate that one is carrying a balance somewhere.

 

Theoretically, this would indicate score suppression under the Fico algorithm. Under that framework, you could theorize the underwriting criteria for the Slate should make allowances for such approvals. If it does NOT, it would render the Slate a Catch-22 situation. 

 

Any Slate approval data points to compare against the Freedoms??


Anecdotally, Slate and Freedom seem to have the same approval and U/W requirements. You can get a Slate with as little as $500 for a starting limit, or a starting limit over $10K. It all depends on what your profile supports. 

 


Message 11 of 15
Super Contributor

Re: Chase Slate vs: Chase Freedom Cards

In looking through the credit pulls database quick, it seems the slate and freedom have similar approval and denials.

It would seem the zero balance transfer fee is the main difference here stated above, which could of course save someone a few hundred bucks depending on the balance being transferred.

I also agree that once the BT is complete and the zero percent period has elapsed that it's a useless card that should be product changed to the freedom or something more useful.
Message 12 of 15
Established Contributor

Re: Chase Slate vs: Chase Freedom Cards

This is not exclusive to Chase and the Slate. This question can literally be rephrased for just about every single bank that offers a no frills, barebones Platinum Visa and/or MasterCard alongside more desirable rewards cards. Why does Bank of America offer the BankAmericard Platinum when they also offer rewards cards that not only have BT offers, but also sign up bonuses? Why does Citi offer the Simplicity/Diamond Preferred? Why does US Bank, Fifth Third, and Wells Fargo offer a Platinum card? They wouldn't offer these products if there weren't customers who wanted them, as strange as that may seem to those more knowledgeable on credit products.

Message 13 of 15
Community Leader
Senior Contributor

Re: Chase Slate vs: Chase Freedom Cards

If the Slate were a Rinse and Reuse BT card.. with an offer from time to time for a low apr no fee transfer or a low fee 0% transfer.... it would make a bit more sense to me... Least in my mind the Slate is a one trick pony or one hit wonder... You get it, you BT as much as you can without maxing it, and then you pay it off and eventually PC it to something more useful

 

The plain jane BOA Plat... has some low apr possibilities.. No guarentees but.. also.. the BOA Plat seems to consistently get BT offers....... So if i had a choice. id probably go for the BOA plain card over the Slate.. 

Message 14 of 15
Valued Contributor

Re: Chase Slate vs: Chase Freedom Cards

Doesn't the Slate also offer ongoing, non promo interest rate that's lower than the Freedom, generally speaking, all other things being equal?
Message 15 of 15
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