Back in 2015 Chase added a free FICO score and credit dashboard for Chase Slate cardholders, this was a time when other card issuers were adding free FICO scores across the board but it did make sense for Chase to offer it only on this card as the Slate is specifically designed for people with bad/no credit and they are the ones most likely to be interested in credit scoring. Chase has sent out messages to Slate cardholders informing them that on June 9th, 2019 that this feature will be removed and replaced with the Chase Credit Journey instead.
Credit Journey uses a VantageScore V3 model and relies on data provided by TransUnion. FICO is more commonly used than VantageScore in actual lending decisions, although VantageScore is generally the preferred option when providing free scores (presumably because it’s cheaper).
Hat tip to FlaDude on myFICO forums
I just noticed the FICO score was removed from the CHASE website. This crappy vantage score is sometimes up to 100 points lower than my FICO score for the same exact time period. This tells me it isn’t very accurate at all.
So given that Chase bankers used the free credit score as the primary selling point for the Slate card (other than the free balance transfer when you get the card, which is not an ongoing thing), what will the selling point be now?
I had a Slate card but Chase closed it a year+ ago because I had not used it in a while. They sent me a letter saying that starting to use it would not change their mind. It was during the time that they were testing Chase Offers, which was only on the Slate card (and Ink, which I do not have) at the time but fortunately I got to use it before they closed the account.
There was another post in the last few days that said Chase is starting to upgrade Slate cardholders to CFU. https://www.doctorofcredit.com/chase-automatically-upgrading-some-chase-slate-cardholders-to-chase-freedom-unlimited/
Seems to me like they’re not planning on marketing it much at all, maybe just make it a fallback option for people who can’t get approved for other Chase cards due to bad credit, if they don’t phase it out entirely.
I cancelled myfico and strictly use credit karma now without paying for it. Even though the scores were a little off, I like that CK breaks down your score ex) utilization, history, and how long you’ve had credit to suggest how to improve it with little tips.
CRAP! Now I have zero reason to keep the Slate card.
I’m LOL/24, so should I do a conversion to the CSP and/or CSR that I can’t directly apply for, or take a Freedom Unlimited?
Yup, got this SM a few days ago. I’ve had my Slate account for almost 16 years now (only just started this whole points things heh). I liked having the FICO score access but since that is going away I just went ahead and requested a product change to a CFU.
my amex fico updates have been so delayed the past year, i just stopped checking them. Just running a routine schedule to update them on the nth of every month would seem like a simply thing for a $80 billion bank to achieve, but two CEOs, neither could handle it.
AMEX made me signup for the FICO score again and it now gets locked out every time I try to access it.