PC questions

[localuser]

Would you pc your Slate to a Freedom if you had a Discover IT?
Has anyone had success getting a CLI after you PC to match a higher card?
Credit cards don't hold weight correct? Eg. A palladium reports the same to all creditors the same as a secured card.
What benefits are there to having two prime cards?

My goal is to have a house in 5 years with zero inquiries and my three baddies that are resilient to fall off (2 medical and a Macys C/O). Right now my CR probably states 665, 6 inquires, 11 accounts total, 3 are bad, and one is a closed perfect auto loan. I want to grow steadily as I have a control on my finances.

I've been with Chase for 11 years. 12 months with the Slate (I've read you need 13 months reporting before you pc) and 24 months on my wife's Freedom as an AU. Both are perfect.

[Themanwhocan]

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@localuser wrote:
Would you pc your Slate to a Freedom if you had a Discover IT?
Has anyone had success getting a CLI after you PC to match a higher card?
Credit cards don't hold weight correct? Eg. A palladium reports the same to all creditors the same as a secured card.
What benefits are there to having two prime cards?

My goal is to have a house in 5 years with zero inquiries and my three baddies that are resilient to fall off (2 medical and a Macys C/O). Right now my CR probably states 665, 6 inquires, 11 accounts total, 3 are bad, and one is a closed perfect auto loan. I want to grow steadily as I have a control on my finances.

I've been with Chase for 11 years. 12 months with the Slate (I've read you need 13 months reporting before you pc) and 24 months on my wife's Freedom as an AU. Both are perfect.

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Actually, no. They report slightly differently.

All my credit is via credit cards. So they all appear on my report as Account Type: Revolving account. Most of my cards are also Loan Type: CREDIT CARD; but my two US Bank Cash+ cards are Load Type: FLEXIBLE SPENDING CREDIT CARD. I also had a secured credit cards all of last year, now closed, and it reports as Loan Type: SECURED CREDIT CARD.

[Anonymous]

1) basically all credit cards have same weight. On credit report, freedom looks same as csp same as slate since card type doesn't report. Of course this is assuming cards are same age, balance, limit, account type, and payment history, which are only factors that matter. Additionally, with FICO scoring, no card issuer is more important than other. First premier counts same as chase. However there is limited evidence that some card issuers internal scoring might punish small segment of card issuers like first premier. Your example of palladium vs secured card is a little faulty as palladium doesn't report and secured card can sometimes report as secured card. But a non secured card reporting secured card would look exactly the same as a revolving card from best issuer on credit report. FICO scoring would treat secured card and palladium (if it did report) as same card.

2) benefit of having multiple cards is same whether they are "prime" or not. Basically FICO likes 2-3 revolving accounts to help maximize potential FICO score with regards to utilization. Outside of that, own personal choice how many cards you have and which ones. Some pick cards to maximize/mix and match rewards. Some like having history with different card issuers as they can behave differently. Others like having lots of accounts to help with utilization and building AAoA over long term. Others just collect cards to take advantage of bonus offers or 0% offers.

3) with regards to PC, make sure you don't lose card history etc with pc. The goal is that on the credit report the pc should result in no change with regards to the factors I mentioned in #1 with possible exception of card number and card type and therefore no change in score. In your particular case, I would double check on what happens in pc from slate to freedom (assuming you can). Assuming nothing changes, my personal preference given your statements would just be to app for freedom or other card I wanted. Freedom more of a rewards card while slate is good for 0% offers and bt.

4) other advice is to contact cap one executive office via Facebook message to cap one page. Ask to see what they can do for your cap one card. I would ask for following without taking a hard inquiry (please specify this): pc or addition of 1.5% rewards, switch to unsecured card and as high cl they will do (if they ask, ask for 5k), dropping af permanently or at least waived this year.

5) finally assuming your medical c/o are paid or you are willing to pay, please look up hippaa dispute method to have good chance to have them removed

[takeshi74]

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@localuser wrote:
Would you pc your Slate to a Freedom if you had a Discover IT?

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You can't poll to determine what you need to do.  You need to make the call based on your specific needs/wants/priorities/goals.  There are those who have both the Freedom and the IT.  There are those that only have one or the other.  There are also those that have neither.  That's all due to differences from person to person.

@localuser wrote:

What benefits are there to having two prime cards?

It's not so much whether the card is prime or not prime as that isn't recorded on your reports.  It's the (generally) higher CL's that truly provide benefit (assuming you maintain proper utilization).

[localuser]

I got the responses I thought I would and I'll just stick with using the discover as my main credit card.  Thanks for the input.