Chase Slate® Credit Card Review

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Chase Slate® credit card snapshot

Carrying a balance on your credit card can burn a hole in your wallet if you’re paying interest on what you owe. Transferring the balance to a card with a zero percent introductory Annual Percentage Rate (APR) offer, is one way to reduce the cost of finance charges.

The Chase Slate® card offers a 0% introductory APR for 15 months on purchases and balance transfers from account opening. After that, 16.49% – 25.24% variable APR on purchases and balance transfers. There is a $0 introductory balance transfer fee for transfers made during the first 60 days your account is open. After that, the fee for future transactions is 5% of the amount transferred with a minimum of $5. Balance transfers with a $0 introductory balance transfer fee are almost unheard of. If you’re ready to save money on an existing eligible balance, with responsible use by you, the Chase Slate® card can be a tool to help you achieve that goal.

Chase Slate® Highlights

Highlights that we want to mention

At a glance 
Annual fee:$0
Foreign transaction fee:3% of each transaction in U.S. dollars
Rewards program:None
Annual Percentage Rate (APR) on Purchases:0% Introductory APR for 15 months on purchases. After that, 16.49% - 25.24% variable APR.

Annual Percentage Rate (APR) on Balance Transfers:0% Introductory APR for 15 months on balance transfers. After that, 16.49% - 25.24% variable APR.

Balance transfer fee:$0 Introductory balance transfer fee for the first 60 days your account is open. After that, the fee for future balance transfer transactions is 5% of the amount transferred with a minimum of $5.
Our Verdict: Best for credit users who want to take advantage and save with a $0 intro balance transfer fee for 60 days, get 0% intro APR for 15 months on purchases and balance transfers, and $0 annual fee.
We think it's great for:People who want a longer time frame to pay down purchases or balance transfers with 0% Introductory APR for 15 months on purchases and balance transfers

People who want to avoid an annual fee
We think these folks should do more research:People who want to earn rewards on purchases

People who travel outside the U.S.
Additional Notes:Terms apply

Chase Slate® Basics

Unlike some of Chase’s other credit cards, we think the Chase Slate® card may interest credit card applicants who hope to snag savings on balance transfers. This card offers no rewards program or bonuses for new Cardmembers.

In addition to the balance transfer promotion, this card comes with a few other extras. Primary Cardmembers can see monthly updates to their FICO® Score and the reasons behind their score, for free. The Chase Slate® card has no annual fee. This card won’t impose a penalty APR for late payments, all other account pricing and terms apply.

Chase Slate® vs. Other Balance Transfer Cards

The Chase Slate® card isn’t the only balance transfer card in the game. Here are the profiles of a few other balance transfer credit card options, so you can see what the competition has to offer.

Chase Freedom®

Annual Fee: $0

Card highlights we want to feature:

  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter. Unlimited 1% cash back on all other purchases.
  • There is no annual fee

Chase Slate® and the Chase Freedom® card are on even footing with having no annual fee and the introductory APR promotion. Chase Freedom® offers new Cardmembers a 0% introductory APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.49-25.24%. Balance transfer fee is 5% of the amount transferred, $5 minimum.

When compared to Chase Slate®, in our opinion, Chase Freedom® gives you a bigger bang for your buck, for one reason, by offering a cash back rewards program. With Chase Freedom® you earn 5% cash back on up to $1,500 spent in combined purchases in the bonus categories each quarter that you activate. Purchases above the $1,500 limit or outside the activated bonus categories earn unlimited 1% cash back. Secondly, new eligible Cardmembers earn a $150 bonus after spending $500 on purchases in the first three months from account opening.

If you want the double benefits of a 0% introductory APR on purchases and balance transfers as well as a card with a cash rewards program, we think this card is worth a second look.

Terms apply.

If you want to learn more click on the link below which will take you to a Chase Freedom® card details page.

Learn more about Chase Freedom®.

[Further Review: Chase Freedom® Review]

 

Discover it® Balance Transfer

Annual Fee: $0

Card highlights we want to feature:

  • Cash back rewards program – earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate.
  • Earn unlimited 1% cash back on all other purchases
  • There is an intro offer: Discover will match all the cash back earned at the end of your first year, automatically, for new cardmembers only.
  • There is no annual fee and there are no foreign transaction fees

There’s a lot to mention about the Discover it® Balance Transfer card starting with the 18 month, 0% introductory APR period on balance transfers. After the introductory APR period for balance transfers ends then a Standard Variable Purchase APR of 13.49% – 24.49% applies, based on your creditworthiness. There is a balance transfer fee of 3% of the amount of each transfer. This card also offers a 6 month, 0% introductory APR on purchases. After the introductory APR period for purchases ends then a Standard Variable Purchase APR of 13.49% – 24.49% applies, based on your creditworthiness. This card has no annual fee and no foreign transaction fees.

A cash back rewards program adds to the Discover it® Balance Transfer appeal. With this card earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate. Earn unlimited 1% cash back on all other purchases – automatically. There is an intro offer: Discover will match all the cash back earned at the end of your first year, automatically, for new cardmembers only.

Terms apply.

If you want to learn more click on the link below which will take you to a Discover it® Balance Transfer card details page.

Learn more about Discover it® Balance Transfer.

BankAmericard® Credit Card

Annual Fee: $0

Card highlights we want to feature:

  • There is a 0% introductory APR for 15 billing cycles for purchases, and for any balance transfers made within the first 60 days of opening your account, after that a variable APR, currently 14.49% to 24.49%, will apply
  • The fee for balance transfers is 3% of each transaction (minimum $10)
  • There is no annual fee

With the BankAmericard® credit card you can access your FICO® Score for free within Online Banking or your Mobile Banking app.

Terms apply.

Chase Slate® Rewards

As mentioned earlier, the Chase Slate® credit card doesn’t come with a rewards program. You won’t be able to earn any points, miles or cash back for your purchases and there’s no bonus for eligible new Cardmembers. For those choices, you can look at one of the other cards listed above.

prosChase Slate® Pros

The feature we like best about the Chase Slate® card is the 15 months you get to pay off eligible purchases and balance transfers with 0% introductory APR. The opportunity to have a $0 introductory balance transfer fee for transfers made during the first 60 days of account opening could be an incentive to choose this card over other cards that charge balance transfer fees.

consChase Slate® Cons

On the flip side, transfers executed after the first 60 days face a balance transfer fee of 5% of the amount transferred with a minimum of $5. That’s higher than the 3% most cards typically charge. On a $5,000 transfer, the 5% balance transfer fee amounts to $250 verses a balance transfer fee of 3% which amounts to $150, which makes this card slightly more expensive if you decide to transfer a balance after the $0 introductory balance transfer fee period ends.

The lack of a rewards program is also something that some credit card holders may find unappealing. If earning rewards is important to you, you may need to consider supplementing the Chase Slate® card with another card that pays the cash back, points or miles you’re seeking.

Should you get the Chase Slate® Credit Card?

If you want a no-frills, no-fuss way to transfer balances and save on finance charges, the Chase Slate® card is one you may want to consider. As long as you complete transfers promptly after opening your account, during the first 60 days of account opening, you won’t pay a balance transfer fee, and there’s no pricey annual fee to worry about either. However the BankAmericard® credit card is another no-frills type of card and may also be worth a closer look too.

Although Chase doesn’t disclose on its website the minimum credit score you’ll need to qualify for this card, as a general rule, the higher your score, the easier it may be to get approved. Keep in mind, credit scores are just one criteria that credit card issuers use to determine if you are eligible for one of their credit cards, credit card issuers use a variety of different types of credit scores and other criteria to make credit decisions. Take a look at your free credit report card from Credit Sesame and get an idea on where you stand.

Learn More:

Best Balance Transfer Credit Cards

Best Low Interest Credit Cards

 


Disclaimer: All the information about the BankAmericard® credit card and Chase Slate® card has been collected independently by CreditSesame.com and has not been reviewed or provided by the issuer’s of these cards. The BankAmericard® credit card and Chase Slate® card are not available through CreditSesame.com.

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Published September 16, 2016
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