RNE

Revision has certainly been manifest, but it's not my doing.

• In the beginning, all was void and without form.
• Then, lo, the Cabal created The Rule to encompass all. And the Cabal saw that it was good.
• Then, lo, the Cabal separated the UR from the non-UR. And the Cabal saw that it was only so-so.
• Then, lo, the Cabal separated the business from the non-business. And the Cabal saw that it was not so good.
• Then, lo, the Cabal separated the targeted-offer from the non-targeted offer. And the Cabal saw an eye doctor.

RNE, amen.

Brugge

The over/under is 4 years, 8 months, 12 days, 37 minutes, and 7 seconds.

BTW, my money is on the over...

TMM1982

I call a Push.

RNE

Ask yourselves: How many bonus miles and points do I personally not have now because I was convinced not to apply for a credit card? Add them up and that's the staggering cost you personally paid. And for what? A theory?

sdsearch

So Slate earns nothing at all? That's the fact I didn't know. I assumed all Chase-branded cards would earn UR, because who want an expensive card that earns nothing at all? And I've never heard of another Chase-specific earning system other than UR.

And multiple people have been posting "UR" and "Chase-branded" as interchangeable terms for weeks in this thread, with nary a correction before now, so I assumed that all was good for equating them.

sdsearch

You have to understand what "too many inquiries" really means. It can only mean "too many inquiries on the bureau(s) we pulled". Unless the bank pulls all three bureaus, they cannot really see all inquiries.

On the other hand, the apparent 5/24 policy is based on new accounts showing up on your credit report. That is not exactly even a subset of pulls, because, for example, it may not include certain kinds of accounts (for example, some cards don't report to credit bureaus) even though pulls may have been generated when applying for those accounts.

So some cards may generate pulls while not showing up on credit reports, and some other cards may show up on credit reports but pull from a bureau that Chase doesn't check.

Brugge

Correct, no rewards program at all. What makes Slate unique is what it DOESNT do:

No AF
0% for 15 months on balance transfers
0% for 15 months on purchases
$0 balance transfer fee (for transfers made within 60 days)

So a great card for people who carry balances, and a lousy card for those of us who don't....

unkn0wns0ldier

I don't think anyone is saying not to apply... the Wiki simply states that your chances of approval are significantly lowered, especially for UR cards, by "5/24." There may or may not be some issues with non-UR cards as well....

unkn0wns0ldier

^^^

knowledgeispower

This is exactly the point. RNE seems to think a hard pull isn't too much of an issue and shouldn't be feared even when denied because of a small chance of approval. I agree if you are an average consumer that opens 1 or 2 cards every year, however for most of us, every inquiry reduces chances of approval for other cards. If we open 6-10 cards every couple of months, every inquiry counts especially for Citi! I would rather not waste a hard pull if I have a significantly decreased chance of approval as it reduces chances of approval from other banks.

I found out the hard way when applying for the Slate card in May for both my wife and I. Luckily in July I was able to push through a Hyatt through a senior rep but it was probably my hardest approval yet. Don't think I will apply to more Chase cards any time soon, I am going to take advantage of all the other sign up offers from the other banks. Not worth the inquiry/hassle in my opinion at the moment.

snic

These are all revisions of an initial general theory, which make the theory more specific and therefore more accurate. That is how an online community tends to work - kind of like a crowd-sourced scientific method: the accumulation of individual observations leads to the elimination of false hypotheses, and what remains is a revised theory that has empirical validity. Indeed, the revised theory remains unchallenged by data: there are still no (or at least exceedingly few) reports of people successfully opening Chase-only-branded non-business cards (e.g., CSP, Freedom and Slate) when their credit reports show more than 5 cards opened in the last 24 months.

joscofra

How many HPs/year would you think starts becoming problematic? And for how long?

rev

I've never been able to find out if this was fact or not beyond a few peoples' comments a while ago hinting at it might be true. Is there a rule with Chase (or any bank) that says you can't downgrade/convert a new credit card within 12 months of opening it?

sdsearch

I've heard that the relatively new consumer law in the USA regarding credit cards makes making certain changes to a card within 12 months of opening difficult for banks. But what the specifics are, I'm not sure.

slicktraveler

I was just told by a Chase Rep that they can not see any cards we have had past 6 months because everything is purged. I had called to see if I had the Marriott Business card before because I had the personal Marriott Card before but didn't think I ever had the Marriott Business card & wanted to verify that I would definitely get the sign up bonus & they did verify in process that I would get the sign up bonus. When I asked how many chase cards I had in 2015 they could only see 1 card that I had & canceled 3 months ago. Could this be correct? or just a rep that didn't know what they were talking about.