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.

ChaseSlateThis card offers a 0% Introductory APR for 15 months on purchases and balance transfers, and a variable APR of 15.99% – 24.74% on balance transfers and purchases after the introductory period ends. There is a $0 introductory balance transfer fee when you transfer a balance during the first 60 days your account is open, after that, the fee for future balance transfer transactions is either $5 or 5% of the amount of each transfer, whichever is greater. Balance transfers with a $0 introductory balance transfer fee are almost unheard of. If you’re ready to save money on an existing 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:None
Foreign transaction fee:3% of each transaction in U.S. dollars
Rewards program:None
Annual Percentage Rate (APR):0% Introductory APR for 15 months on purchases and balance transfers from account opening; after the introductory APR period ends a variable APR of 15.99% - 24.74% on balance transfers and purchases.

Balance transfer fee:$0 Intro balance transfer fee when you transfer a balance during the first 60 days your account is open; after that, the fee for future balance transfers is 5% of the amount transferred with a minimum of $5.
Verdict: Best for credit users who want to take advantage and save with a $0 introductory balance transfer fee and get 0% introductory APR for 15 months on purchases and balance transfers, and $0 annual fee. Plus, receive your monthly FICO Score for free.
We think it's great for:People who want a $0 introductory balance transfer fee during the first 60 days their account is open

People who want to avoid an annual fee

People who want a long time frame to pay down balance transfers with 0% introductory APR on balance transfers for 15 months
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, 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 card members.

In addition to the balance transfer promotion, this card comes with a few other extras. Members have free access to their monthly FICO® Score and Credit Dashboard, and pay no annual fee. This card won’t impose a penalty APR for late payments however; you’ll still pay a late fee, of up to $37 based on your balance.

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®

Card highlights we want to feature:
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 15.99% – 24.74%. Balance transfer fee is 5% of the amount transferred, $5 minimum.
  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. New 5% categories each quarter. Unlimited 1% cash back on all other purchases.
  • No annual fee

Chase Slate® and the Chase Freedom® card are on even footing with having no annual fee and the introductory APR promotion. New Cardmembers enjoy the same 15 month, 0% introductory APR offer on purchases and balance transfers. With the Chase Freedom® card there is a 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 15.99% – 24.74% based on your credit worthiness. Balance transfer fee is 5% of the amount transferred, $5 minimum.

ChaseFreedom The difference between the two cards is that, in our opinion, Chase Freedom® gives you a bigger bang for your buck, by offering a cash back rewards program. With Chase Freedom® you can earn 5% cash back on up to $1,500 spent in combined purchases in the quarterly bonus categories that you activate. Purchases above the $1,500 limit or outside the activated bonus categories can earn unlimited 1% cash back. New eligible cardmembers can earn a $150 bonus after spending $500 on purchases in your first three months from account opening.

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

Terms apply.

[Further Review: Chase Freedom® Review]

Citi® Double Cash Card

Card highlights we want to feature:

  • 0% introductory APR on balance transfers for 18 months, after that, the variable APR will be 14.49% – 24.49% based on your creditworthiness
  • Balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater applies to each balance transfer
  • Earn unlimited 1% cash back on your purchases, plus an additional 1% as you pay for those purchases
  • No annual fee

citidoublecash

The Citi® Double Cash Card (Citi is a CreditSesame.com advertiser) offers you 18 months to pay off balance transfers with 0% introductory APR. And if that isn’t enough, this card also offers you a chance to earn cash back on purchases in two different ways. First, you can earn 1% cash back when you spend on purchases, then you earn another 1% cash back when you pay for those purchases.

Earnings are not capped, and the reward structure is straightforward, which is good if you find changing spending categories to be too much work. If you plan to use this card for purchases outside the U.S., you should be aware that it has a foreign purchase transaction fee of 3% of each purchase transaction in U.S. dollars.

Terms apply.

[Further Review: Citi® Double Cash Card Review]

Discover it® – Cashback Match™

Card highlights we want to feature:

  • Cash back rewards program – earn 5% cash back in rotating categories each quarter up to the quarterly maximum each time you activate
  • Cash back rewards program – earn 1% cash back on all other purchases
  • With Cashback Match™ you can get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, only for new cardmembers
  • No annual fee and no foreign transaction fees
  • 0% introductory Annual Percentage Rate (APR) on balance transfers for 14 months, then after the intro APR expires, a Standard Variable Purchase APR of 11.99% -23.99% applies, based on your creditworthiness. There is a balance transfer fee of 3% of the amount of each transfer.
  • 0% introductory Annual Percentage Rate (APR) on purchases for 14 months, then after the intro APR expires, a Standard Variable Purchase APR of 11.99% -23.99% applies, based on your creditworthiness

There’s a lot to mention about the Discover it® – Cashback Match™, starting with the 14-month, 0% introductory APR period for balance transfers. After the introductory APR period for balance transfers expires then a Standard Variable Purchase APR of 11.99% -23.99% applies, based on your creditworthiness. There is a balance transfer fee of 3% of the amount of each transfer. You also can get 14 months, 0% introductory APR on purchases. After the introductory APR period for purchases expires then a Standard Variable Purchase APR of 11.99% -23.99% applies, based on your creditworthiness. This card has no annual fee, no foreign transaction fees, no over-the-credit limit fee and no penalty APR if you pay late.

A cash back rewards program adds to the Discover it® appeal. This card offers you 5% cash back in rotating categories like gas stations, Amazon.com, restaurants, wholesale clubs and more, on up to the quarterly maximum each time you activate. Plus, you can earn 1% cash back on all your other purchases. With Cashback Match™ get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically, only for new cardmembers.

Terms apply.

 

BankAmericard® Credit Card

Card highlights we want to feature:

  • There is a 0% Introductory Annual Percentage Rate (APR) for 15 billing cycles for purchases, and for any balance transfers made within the first 60 days, then 12.99% – 22.99%  Variable APR, based on your creditworthiness
  • Take advantage of a $0 Introductory balance transfer fee for the first 60 days your account is open. After that, the fee for future balance transfers is 3% of the amount of each transaction (min. $10).
  • No annual fee


There is a 0% Introductory Annual Percentage Rate (APR) for 15 billing cycles for purchases, and for any balance transfers made within the first 60 days, that the BankAmericard® credit card offers. Once the 0% introductory APR period ends, the variable APR applies, currently 12.99% – 22.99%, which is lower than what the Chase Slate® card offers. This is something to keep in mind, for when the introductory APR offer window closes.

If you’re planning on transferring a balance the BankAmericard® credit card is offering a balance transfer fee of $0 for the first 60 days your account is open. After that, the fee for future balance transfers is 3% of the amount of each transaction (min. $10). 

With the BankAmericard® credit card, similar to Chase Slate®, you can access your FICO® Score for free within Online Banking or your Mobile Banking app. There is no annual fee.

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 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 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.

Chase Slate® Cons

cons

On the flip side, transfers executed after the first 60 days face a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater. That’s higher than the 3% most cards typically charge. On a $5,000 transfer, the fee amounts to $250 verses $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 your account is open, 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 whether you’ve got a shot at meeting the Chase Slate® credit score standards.

Learn More:

Best Balance Transfer Credit Cards

Best Low Interest Credit Cards

 


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Published September 16, 2016
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