Chase Slate

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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English
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Chase Slate

Postby English » Tue Apr 22, 2014 6:20 pm

I got a pre-approved letter in the mail for a chase slate card offering 0% balance transfer with no fee. I have $950 on my capital one quicksilver would this be a good option to move that to the slate? Would it be possible say in 6months to upgrade the slate to say the freedom or sapphire?

Thanks

Matt
Discover It - $3000
Chase Freedom - $2000
Bank of America Cash Rewards - $2000
Capital One QuicksilverOne - $2500
Capital One Classic - $500


samhradh
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Postby samhradh » Tue Apr 22, 2014 7:19 pm

Is it a good option? Well, it is pretty obvious that a no fee, 0% APR offer is going to be better than paying interest. You'll have to determine if you want another line of credit.

IIRC you cannot product change until 12 mo after opening an account.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).

bgalakazam
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Postby bgalakazam » Thu Apr 24, 2014 7:40 pm

Also note that while the Slate is a mainly a balance transfer card... Chase doesn't like high balances. I had a pre-approval letter and when I applied with a total af $800 balance transfers I was denied after manual review due to too high utilization...I mean seriously, why even get Slate if you don't have utilization...

takeshi
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Postby takeshi » Fri Apr 25, 2014 8:05 am

No creditor likes high balances. Utilization always plays a significant role (30% in the pie below) in credit scoring.
http://www.myfico.com/crediteducation/whatsinyourscore.aspx

bgalakazam wrote:I mean seriously, why even get Slate if you don't have utilization...

That is the catch 22 with it. If you can benefit from BT your utilization is probably high.

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jumbo
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Postby jumbo » Fri Apr 25, 2014 9:45 am

English wrote:Would it be possible say in 6months to upgrade the slate to say the freedom or sapphire?

Thanks

Matt

From my experience, they don't allow product change until you have the 0% promo apr.
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