Slate BLUEPRINT.. should I apply???

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
4 posts
User avatar
jumbo
Centurion Member
Centurion Member
 
Posts: 363
Joined: Wed Sep 14, 2011 3:17 am
Location: IA

Slate BLUEPRINT.. should I apply???

Postby jumbo » Wed Oct 26, 2011 12:53 am

I just got a mail offer from chase for Slate BLUEPRINT card, with 0% APR till February 2013 and after that 17%, No annual fee.

I am in college right now, graduating next year. I have a BoA visa, Discover more, capital one MC, and Citi platinum select MC..

Should I take this offer and apply for it.
My FICO score around 700. I always pay my balance in full every month.
BofA Cash Rewards | CapitalOne QuickSilver | Discover More
Gold Delta AMEX | Citi DoubleCash | Citi Simplicity
Chase Freedom | Kohls Charge Card


sticf
Centurion Member
Centurion Member
 
Posts: 132
Joined: Mon Jul 18, 2011 10:08 pm
Location: Houston

Postby sticf » Wed Oct 26, 2011 6:12 am

Just a few questions for you:
Does the Slate come with any benefits that you will use? (I do not remember it having any.)
Do you need the 0% to finance something? (Short term 0% loan on a big item might be worth it.)
Is the 17% fixed or variable? (In other words, can it be higher when it starts to matter.)

If you answer these questions I am sure that you will answer your own question about applying. You have cards from all of the major companies. If the Slate card is not offering something you need or would use (see questions above). Then I say pass on it. Why open a new card when it will lower your average age of account and generate a hard pull on your credit report?

CC Deville
Centurion Member
Centurion Member
 
Posts: 1067
Joined: Thu Aug 04, 2011 7:07 pm
Location: Phoenix

Postby CC Deville » Wed Oct 26, 2011 2:20 pm

I would skip it. Slate is a very basic card and 17% APR is unacceptable if you have good credit in this current economy. It is also a very ugly card; instead of looking like a normal card, it is vertical.....not sure if that matters to you.

If you need a balance transfer BofA usually offers decent ones on your existing card or try a Citibank credit card that has 21 months 0% APR and ongoing APR's starting at 12.99%.

You should only apply for credit when you need it and it sounds like you have some good cards already (BofA, Citi and Discover). If you don't need any new credit, a Slate card would be a huge waste. If you feel that you really want the Slate, give it a while before you apply; generally if you ignore offers from Chase, they will sweeten the deal in subsequent offers (in Slate's case, generally a lower ongoing APR).

User avatar
jumbo
Centurion Member
Centurion Member
 
Posts: 363
Joined: Wed Sep 14, 2011 3:17 am
Location: IA

Postby jumbo » Thu Oct 27, 2011 2:13 pm

@sticf & @CC Deville - thanks a lot for the suggestions
Slate does not come with any benefit that I will use. And the 17% is variable. The vertical design does not really bother me.
The only thing I think I will use is the 0% APR. Thinking of paying my college tuition from it and later pay it completely before the intro 0% APR period ends, I will have the money in about 4/5 months, just don't have the money now and the college is charging me 1.5% interest per month for my tuition bill, which is higher than the 0%. Like @sticf said "Short term 0% loan on a big item might be worth it", and that's what I wanna do.
So, after I get the card, and use all my credit limit right now, and pay in full before the 0% intro APR period ends, will it hurt my credit in any way...!
BofA Cash Rewards | CapitalOne QuickSilver | Discover More
Gold Delta AMEX | Citi DoubleCash | Citi Simplicity
Chase Freedom | Kohls Charge Card



Return to “Visa & MasterCard”

Who is online

Users browsing this forum: No registered users and 2 guests