PC the OG Chase Slate to __________ (Your input here)

[RonMcKelly81]

New to the world of smartly utilizing credit card for purchases.  Quick bio:

1. Single, no Kids

2. Amex Blue Cash Everyday (primary card used)

3. Captial One Savor Rewards (just opened 2 days ago - so I can travel overseas without FTF)

4. Chase Slate (original) - almost never use since I get no cashback (I prefer cashback and don't want points)

5. Just financed a new card in January and my credit score jumped from 798 to 805

6. Currently a renter and live in NY (HCOL) but I may rent for another year or two if rates drop or rent indefinitely 

Questions:

1. What would be a good card to PC to from the Chase Slate?

2. Is it a better plan to let the Chase Slate get closed by Chase or close it myself and sign up for a 3rd card? I'd feel comfortable with a max of 3 cards to manage all purchases for at least the next year as i'm only used to 1

3. If I close the slate and open another card for cashback, will it affect my credit and for how long and does it really matter (say dropping 5 points)?

4. Here is my plan of action:

a. use the SO card for most purchases and primary driver

b. use the BCE card for gas only

c. open/PC a 3rd card and use it for ___________ (your input here)

Thanks in advance! 

[Anonymous]

If you are doing a PC, I think there are very choices (others correct me if I am wrong!)

Basically: Freedom Flex, Freedom Unlimited, New Slate, CSP, CSR (and possibly original Freedom and CS)

If you don't want an AF, then whichever of the Flex (rotating 5% and some 3% categories, in UR) or Unlimited (1.5% in UR) suits you best

[GZG]

option 1: (if you can, idk if there any different rules because the original card is a slate and not a freedom card) PC the card to a Freedom Flex, it earns 5% on rotating quarterly categories and "3% on dining including takeout and drug stores"

option 2: First, apply for a Freedom Flex. Chase is currently offering several bonus offers, one of them being 10% cashback on groceries up to $12k spend in the first year.  Then do option 1. 

option 3: Apply for a Chase Freedom Unlimited (earns 1.5% on everything and 3% on dining) in branch, where there's a $200 bonus + 5% cashback on gas and groceries purchases on up to $12k in spend. Then do option 1. 

option 4: sign up for the elevated CSP offer if you have the spend to earn it, $750 for spending $4k in 3 months, then after the first year, product change the card to a freedom flex. 

[danzig47]

Based on your points, I think the Freedom Flex or Freedom Unlimited would be best. A few notes:

• Both come with 3% on dining, but that's irrelivent since you are already getting that on the Savor
• Both will give you 3% on drug stores
• I noticed you don't have a catch-all of greater than 1% for non-category spend. The Unlimited would give you 1.5%.
  • I am sure someone will come along and mention that there are many 2% cash back cards out there for a catch-all. I didn't include this since you were only asking about a PC.

So, I think it really comes down to wether the 5% rotating categories or the 1.5% catch all has more value to you. 

[FicoMike0]

@GZG  has a good option 4. I tend to avoid af cards, but that 75000 sub is tempting if you can make the $4000/3 months. Easily pays the $95 af, then pc it at year end.

[ptatohed]

Like danzig mentioned, I'll be the guy that comes along to mention a 2%+ every day card.    OP, I know this only half answers your question but I would recommend PCing to a freedom flex, then applying for a nice uncapped 2%+ card, preferably one with a healthy intro bonus.  GL!  

[SouthJamaica]

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@RonMcKelly81 wrote:

New to the world of smartly utilizing credit card for purchases.  Quick bio:

1. Single, no Kids

2. Amex Blue Cash Everyday (primary card used)

3. Captial One Savor Rewards (just opened 2 days ago - so I can travel overseas without FTF)

4. Chase Slate (original) - almost never use since I get no cashback (I prefer cashback and don't want points)

5. Just financed a new card in January and my credit score jumped from 798 to 805

6. Currently a renter and live in NY (HCOL) but I may rent for another year or two if rates drop or rent indefinitely 

Questions:

1. What would be a good card to PC to from the Chase Slate?

2. Is it a better plan to let the Chase Slate get closed by Chase or close it myself and sign up for a 3rd card? I'd feel comfortable with a max of 3 cards to manage all purchases for at least the next year as i'm only used to 1

3. If I close the slate and open another card for cashback, will it affect my credit and for how long and does it really matter (say dropping 5 points)?

4. Here is my plan of action:

a. use the SO card for most purchases and primary driver

b. use the BCE card for gas only

c. open/PC a 3rd card and use it for ___________ (your input here)

Thanks in advance! 

---

For you it would make sense to PC to one of the Freedom cards.

[NoMoreE46]

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FYI, the BCE gets 3% back for on-line purchases which is better than the Savor One. 

I don't know what your current CL is  with Amex,  but you can get 3X CLI.   Amex (for the most port) and CapOne CLIs requests are SP. 

Keep the Slate open. 

If you do open another Chase card, you should have the option to reallocate the Slate CL to that new card.

What is your biggest spend category/ what kind of Rewards {like miles}  do you want?

[RonMcKelly81]

Wow, thanks for all the thoughtful ideas and replies.   A bit overwhelming since I am so new to learnign this material.   That said ...

1. For my AMEX (used almost exclusively) :

• 40% of my cashback was "other" @ 1%
• 35%  "grocery" @ 3%
• 12% "gas" @ 3%
• 13% "online retail" @ 3%
  • total cashback since Jan 1 = about $130-150

2. I want cashback and not miles/points for the foreseeable future (just more comfortable with this system)

3. I'm getting advice to 

• keep the slate and open another card
• PC the slate and open another card
  • this does feel a littler overwhelming as I just got the SavorOne Rewards in the event I travel outside of the US in the near future

4. Based on my updated info with the cashback spending I've earned, does this change any of the recommendations by you all?

Thanks! 

[GZG]

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@RonMcKelly81 wrote:

Wow, thanks for all the thoughtful ideas and replies.   A bit overwhelming since I am so new to learnign this material.   That said ...

1. For my AMEX (used almost exclusively) :

• 40% of my cashback was "other" @ 1%
• 35%  "grocery" @ 3%
• 12% "gas" @ 3%
• 13% "online retail" @ 3%
  • total cashback since Jan 1 = about $130-150

2. I want cashback and not miles/points for the foreseeable future (just more comfortable with this system)

3. I'm getting advice to 

• keep the slate and open another card
• PC the slate and open another card
  • this does feel a littler overwhelming as I just got the SavorOne Rewards in the event I travel outside of the US in the near future

4. Based on my updated info with the cashback spending I've earned, does this change any of the recommendations by you all?

Thanks! 

---

since the vast mjaority of your spend is in that "other" category, the math says you want to earn higher than 1% in that category. 

the simplest way to accomplish this is to PC your slate into the Chase Freedom Unlimited and if that's all you wanted to do, you would be done and you'd earn 50% more on that spend in categories not covered by grocery/gas/online retail. 

You could also consider applying for the Chase Freedom Unlimited in branch for that elevated bonus offer 5% offer, so you could use that card for Gas/Groceries and other for the year, but that's just a thought. 

You could also consider opening a 2% card for that other category to earn double on the other category purchases: WF active cash, Paypal Mastercard, Citi double cash, sofi credit card, fidelity visa