Keeping it Active

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CarefulBuilder14
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Re: Keeping it Active

Postby CarefulBuilder14 » Tue Oct 13, 2015 9:57 am

Vermonster wrote:I would PC or close it. Slate is such a great BT card that I would hate to not be able to take advantage of that later down the line. You'll have to have Slate closed for 2 years to get the nice 0% BT fee signup bonus again.

I see nothing about this in the card's terms.

I know there's a 2-year rule for initial spend bonuses (like CSP's 40k for $4k) on most/all Chase cards, but I see no reason why an applicant wouldn't get fresh intro APR/BT terms on a new Slate account. Good BT terms may have a great economic value to someone, but they're not bonuses.

Of course, you can't BT (directly, at least) from one Slate to another. I'm not sure if it's possible (but I see nothing necessarily preventing it) to BT from an old Slate to a Ring to a new Slate only owing a few days' interest at 8%. Chase may not approve a customer for a future Slate who is low-risk but not using the BT feature as intended.

I have heard Slate is one of the cards Chase won't issue to customers with 5 new accounts in 2 years, so there's that problem, too.

I think it's mostly a question as to how aggressive OP wants to be in getting bonuses.

I wouldn't pay $59 a year to keep a useless card open. Any time I've applied for a card with an AAoA of at least 5 months I've been instantly approved.

Then again, I don't get the best APRs and I've not yet tried to buy a home.
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Price rewind: Costco
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Limited value, might close: Arrival

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Re: Keeping it Active

Postby [email protected] » Tue Oct 13, 2015 10:04 am

One thing I am keeping in mind is that I want to eventually get the Marriott Rewards card since we stay at that brand often. and was wondering if the Slate plays any role in that like maybe offering to decrease my CL on the Slate to make room for the MRP card, need to wait till credit history builds some and some inquires drop off.
Discover it $3.5K
BOA CR Visa Sig. $25K
Chase Freedom Visa $2K
Chase MRP Visa Sig. $5K
Cap 1 Vent Visa Sig. $13K
Citi HH Visa Sig. $10.1K
AMEX Plat NPSL
AMEX BCP $20K
AMEX Gold Delta SM $8K
BC AR + WEMC $3.5K
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Re: Keeping it Active

Postby jcarte29 » Tue Oct 13, 2015 10:26 am

[email protected] wrote:One thing I am keeping in mind is that I want to eventually get the Marriott Rewards card since we stay at that brand often. and was wondering if the Slate plays any role in that like maybe offering to decrease my CL on the Slate to make room for the MRP card, need to wait till credit history builds some and some inquires drop off.



For what it's worth, CSP was my first Chase card (after YEARS of trying to get a card with them lol), and while I was nervous applying for the Marriott when I did, I had no issues and didn't have to move credit line over (in fact soon after I got a nice auto bump on my CSP limit)
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CarefulBuilder14
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Re: Keeping it Active

Postby CarefulBuilder14 » Tue Oct 13, 2015 10:28 am

[email protected] wrote:One thing I am keeping in mind is that I want to eventually get the Marriott Rewards card since we stay at that brand often. and was wondering if the Slate plays any role in that like maybe offering to decrease my CL on the Slate to make room for the MRP card, need to wait till credit history builds some and some inquires drop off.

Currently, Chase allows customers to move credit limits around freely between cards with no HP. There may be some restriction that you have to leave $500 on a card if you've used it recently, but I don't know the exact details.

So you could move most or all of your Slate CL to Freedom.

If Marriott is the only card you plan to add, then I'd say your AAoA would grow well enough without Slate.

Keep in mind that Chase may change the CL reallocation rules at any time, or extend the "5 accounts in 2 years" to hotel cards. Also, I don't know if Chase would react negatively to you closing Slate, putting you in a worse position for Marriott.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

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Re: Keeping it Active

Postby Vermonster » Tue Oct 13, 2015 10:58 am

CarefulBuilder14 wrote:
Vermonster wrote:I would PC or close it. Slate is such a great BT card that I would hate to not be able to take advantage of that later down the line. You'll have to have Slate closed for 2 years to get the nice 0% BT fee signup bonus again.

I see nothing about this in the card's terms.

I know there's a 2-year rule for initial spend bonuses (like CSP's 40k for $4k) on most/all Chase cards, but I see no reason why an applicant wouldn't get fresh intro APR/BT terms on a new Slate account. Good BT terms may have a great economic value to someone, but they're not bonuses.

Of course, you can't BT (directly, at least) from one Slate to another. I'm not sure if it's possible (but I see nothing necessarily preventing it) to BT from an old Slate to a Ring to a new Slate only owing a few days' interest at 8%. Chase may not approve a customer for a future Slate who is low-risk but not using the BT feature as intended.


Before we approve you for a credit card, we will review your credit report and the information you provide with your response to confirm that you meet the criteria for this offer. Based on this review, you may receive a card with different costs or you may not receive a card.

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Not explicit, but they could say "you used to have a Slate, so you can have that back but your BT fee is going to be 3%"

More likely though is that you get a tiny limit.
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Re: Keeping it Active

Postby [email protected] » Tue Oct 13, 2015 11:56 am

CarefulBuilder14 wrote:
[email protected] wrote:One thing I am keeping in mind is that I want to eventually get the Marriott Rewards card since we stay at that brand often. and was wondering if the Slate plays any role in that like maybe offering to decrease my CL on the Slate to make room for the MRP card, need to wait till credit history builds some and some inquires drop off.

Currently, Chase allows customers to move credit limits around freely between cards with no HP. There may be some restriction that you have to leave $500 on a card if you've used it recently, but I don't know the exact details.

So you could move most or all of your Slate CL to Freedom.

If Marriott is the only card you plan to add, then I'd say your AAoA would grow well enough without Slate.

Keep in mind that Chase may change the CL reallocation rules at any time, or extend the "5 accounts in 2 years" to hotel cards. Also, I don't know if Chase would react negatively to you closing Slate, putting you in a worse position for Marriott.


Does the 5 accounts in 2 years apply to all new accounts or just to Chase new accounts? in other words, how many accounts will Chase let you have with them at the same time? Reallocating say $1500 of my Slate $2200 CL to Freedom to make that CL $5000 sounds like a possible plan to me, then later apply for the MRP card outright.
Discover it $3.5K
BOA CR Visa Sig. $25K
Chase Freedom Visa $2K
Chase MRP Visa Sig. $5K
Cap 1 Vent Visa Sig. $13K
Citi HH Visa Sig. $10.1K
AMEX Plat NPSL
AMEX BCP $20K
AMEX Gold Delta SM $8K
BC AR + WEMC $3.5K
Cap 1 Spark Cash Bus Visa Sig. $4k
Chase Ink Cash Busin Visa Sig. $5K

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Re: Keeping it Active

Postby CarefulBuilder14 » Tue Oct 13, 2015 12:15 pm

[email protected] wrote:Does the 5 accounts in 2 years apply to all new accounts or just to Chase new accounts? in other words, how many accounts will Chase let you have with them at the same time? Reallocating say $1500 of my Slate $2200 CL to Freedom to make that CL $5000 sounds like a possible plan to me, then later apply for the MRP card outright.

It definitely includes cards from banks other than Chase.

Some people do have 8+ Chase cards.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

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Re: Keeping it Active

Postby CarefulBuilder14 » Tue Oct 13, 2015 12:35 pm

So how entwined are your finances with your wife's?

She has $18k of CC debt, $6k of which is accumulating interest, and she just paid almost $400 in BT fees.

You're concerned that Chase might be limiting the number of premium travel cards you can have.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

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Re: Keeping it Active

Postby [email protected] » Tue Oct 13, 2015 12:54 pm

CarefulBuilder14 wrote:So how entwined are your finances with your wife's?

She has $18k of CC debt, $6k of which is accumulating interest, and she just paid almost $400 in BT fees.

You're concerned that Chase might be limiting the number of premium travel cards you can have.


NO, we will pay that debt down! I think we can pay it down and still travel occasionally too, as long as we don't go to extremes. I would like the Chase MRP card, it would be the only Premier card I have, and it would be a positive thing because we go to those hotels on a regular basis, we are Marriott rewards members with 14,000 pts currently, we go to one every year for our anniversary in March, and it would be nice to have the MRP card for that stay, but if not it's ok. I feel like we can pay her debt down and still enjoy ourselves. We will have our Home paid off in 2 years, both our vehicles are paid off and we live fairly comfortably. we just to carried away with her card. what is mine is Hers and vice versa, I helped her run up that bill, and I will help her pay it off.
Discover it $3.5K
BOA CR Visa Sig. $25K
Chase Freedom Visa $2K
Chase MRP Visa Sig. $5K
Cap 1 Vent Visa Sig. $13K
Citi HH Visa Sig. $10.1K
AMEX Plat NPSL
AMEX BCP $20K
AMEX Gold Delta SM $8K
BC AR + WEMC $3.5K
Cap 1 Spark Cash Bus Visa Sig. $4k
Chase Ink Cash Busin Visa Sig. $5K

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CarefulBuilder14
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Re: Keeping it Active

Postby CarefulBuilder14 » Tue Oct 13, 2015 1:23 pm

[email protected] wrote:
CarefulBuilder14 wrote:So how entwined are your finances with your wife's?

She has $18k of CC debt, $6k of which is accumulating interest, and she just paid almost $400 in BT fees.

You're concerned that Chase might be limiting the number of premium travel cards you can have.


NO, we will pay that debt down! I think we can pay it down and still travel occasionally too, as long as we don't go to extremes. I would like the Chase MRP card, it would be the only Premier card I have, and it would be a positive thing because we go to those hotels on a regular basis, we are Marriott rewards members with 14,000 pts currently, we go to one every year for our anniversary in March, and it would be nice to have the MRP card for that stay, but if not it's ok. I feel like we can pay her debt down and still enjoy ourselves. We will have our Home paid off in 2 years, both our vehicles are paid off and we live fairly comfortably. we just to carried away with her card. what is mine is Hers and vice versa, I helped her run up that bill, and I will help her pay it off.

Glad you're on the same page.

Although availability will vary, have you confirmed that the hotel(s) you plan to go to for the anniversary are Category 5 or lower?
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card



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