Do I Get the Sign-Up Bonus If I Convert my Chase Slate to the Chase Freedom?

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Do I Get the Sign-Up Bonus If I Convert my Chase Slate to the Chase Freedom?

Million Mile SecretsDo I Get the Sign-Up Bonus If I Convert my Chase Slate to the Chase Freedom?Million Mile Secrets Team

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Million Mile Secrets reader Jeff tweeted:

If I convert a Chase Slate card to a Freedom, do I still get the sign on bonus?  Not much $ [money] 4 [for the] signup,but everything counts

Jeff’s asking if he will get the Ultimate Rewards point sign-up bonus if he converts his existing Chase Slate card to a Chase Freedom card.

Chase Slate

Link:  Chase Slate

The Chase Slate card is the only card which does NOT charge a fee to transfer a balance and has a 0% APR on BOTH purchases and balance transfers for 15 months.

The Chase Slate is a no annual fee card, so Jeff’s been building a relationship with Chase (which has the best miles and points cards) and improving his credit score without paying an annual fee!

But the Chase Slate does not give you any miles and points for signing-up for the card or for using the card.

Chase Freedom

Link:  Chase Freedom

Jeff can get 10,000 Ultimate Rewards points or $100 in cash back with the Chase Freedom.  Jeff gets 10,000 Ultimate Rewards points after spending $500 within 3 months.

The Chase Freedom is also a no annual fee card, so he can continue to build a relationship with Chase and build his credit score.

But unlike the Chase Slate, the Chase Freedom earns points!

Jeff can earn an additional $300 cash back or 30,000 Ultimate Rewards points a year (7,500 points per quarter X 4 quarters in a year) if he spends $1,500 in each quarterly bonus category.

For example, he will earn 5X Ultimate Rewards points for shopping at Amazon.com from October to December 2013.  Emily and I bough gift cards from Amazon.com and will use it for Holiday shopping!

Jeff can redeem the points for cash back (5% cash back isn’t too shabby and some folks prefer cash back).

Or he can transfer the Ultimate Rewards points to the Chase Sapphire Preferred, (no longer offered) Chase Ink Bold, or Chase Ink Plus cards and then transfer to airline or hotel partners such as Hyatt, Southwest, British Airways, or United.

Here are step-by-step instructions on how to transfer points from the Chase Freedom to a card which allows you to transfer them to hotels and airlines!

Convert Or Upgrade

Because Jeff has a Chase Slate card, he could call the number at the back of the card and ask Chase to convert his Chase Slate card to a Chase Freedom card.  That way he will earn miles and points and 5X points for bonus category purchases.

Emily’s oldest card was a Chase Slate card which she got in college.  She called Chase and converted it to a Chase Freedom card.  She didn’t get the sign-up bonus since she didn’t submit a new application for the Chase Freedom.  But she was able to keep the credit history associated with the card.

Since this was Emily’s oldest card, we preferred giving up the 10,000 point sign-up bonus (the sign-up bonus was lower when Emily converted her card), to keep the longer credit history with the card.

Like Emily, Jeff can keep his credit history if he converts his Chase Slate card to a Chase Freedom card.  But he will NOT get the 20,000 point signup bonus.  But it could be worth giving up the points to keep the long credit history associated with his Chase Slate card.  That said, Jeff can get up to 30,000 Ultimate Rewards points by using the Freedom card in the 5X bonus categories each year.

On the other hand, if Jeff has credit cards which are much older than his Chase Slate card, he can cancel the Chase Slate card and apply for the Chase Freedom card.

Bottom Line

Jeff can get the sign-up bonus for the Chase Freedom card.

But he will NOT get the points if he converts his Chase Slate card to a Chase Freedom card.

If Jeff has credit cards which are much older than his Chase Slate card, he could cancel his Chase Slate card and apply for the Chase Freedom card to get the sign-up bonus.

But he should NOT cancel his Chase Slate card if it is one of his oldest credit cards!

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Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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I have a Chase Southwest Card and was interested in getting it converted to Chase Freedom. I’ll be completing an year with Chase Southwest this April. I am new to the US and my oldest credit card is 2 years old. I have 5-6 more credit cards but all of them are less than an year old. Suggestions?

Author
Million Mile Secrets

@Shil – I don’t believe you can convert an airline or hotel card to the Freedom card.

How about converting a Chase SW card to the Chase Slate. My wife has the card and got the 50k sign up bonus but we have some large balances on our Barclay cards that has 0% APR till May 2014. Would be nice to transfer these to the slate card and get another 15 months to pay it off. Do you still get the 0% APR on balance transfers when converting cards, or is that similar to the sign up bonuses?

Author
Million Mile Secrets

@Mike – You can’t convert a hotel or airline card to a Chase banks point card.

Thanks! Will look into southwest. Grant- flying to west palm beach.

I am also considering changing my Slate card to a Freedom card and really want the signup points. Would retail store credit cards have the same weight as regular credit cards when trying to decide what your oldest credit card is? My Slate card was opened in 2004, this is my oldest open “regular” credit card…but older than that I have a Macy’s Card and Express Store card (similar to Banana Republic) that have been opend since 1998 and 1999. It looks like to me, these cards carry the same weight when determining cc age history, is this correct? Should I close my Slate and open the Freedom – or should I transfer my Slate to the Freedom?

Also, how many “old open cards” does one need to have a solid “aged” history? Does it depend on age of all your other cards to determine your average age?

I’m a newbie to this miles/points world (with no debt, other than a mortgage and auto loan, and have an 806 credit score) and I plan to do my first app-o-rama in the next 3 months.

Author
Million Mile Secrets

@julie – I’d consider the Southwest 50,000 mile cards and try to get the Southwest Companion Pass.

@APH – I’d ask those questions on Creditboards.com! Credit scores are very specific to individuals, so the impact to you will vary.

@julie, it depends what city/airport you want to visit in Florida. Also, what airline frequent flyer miles do you already have?

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