Chase Slate Card Review

Chase Slate Card Review
Lauren Ward
on March 20, 2020
Read in 1 min

If you’re looking for a card with good introductory rates, then the Chase Slate card is an ideal option.

Particularly unique is that the card offers these rates for both balance transfers and new purchases.

So you’re covered by one of the best introductory periods when you first open your account, no matter what your current finances look like.

Chase Slate Card Account Basics

This card is great for transferring balances from other credit cards.

In fact, there’s a $0 introductory balance transfer fee as long as you make the transfer within 60 days of opening your new account.

You also get a 0% APR for 15 months on transfers and purchases, one of the longest introductory periods available.

Another bonus is that you’ll receive a monthly FICO score update with each statement.

If you’re trying to pay down debt in an affordable or aggressive way, you can track how those extra payments are positively affecting your credit score.

You’ll also appreciate that there’s no automatic APR jump if your payment is late.

Even after 60 days, there likely won’t be an automatic penalty APR.

To qualify for this card from Chase, your credit should be in the good to excellent range.

You may also be able to qualify with fair credit, depending on other factors in your credit application.

Fees

There’s no annual fee for this card, making it a good one in your pocket.

As long as you make your payments on time, it essentially doesn’t cost you anything to keep.

Once the 0% introductory rate period ends, you can expect the APR to range between 16.24% and 24.99%.

Like many credit cards are doing these days, there is no overlimit fee.

That means if you accidentally spend over your credit limit, you won’t be hit with a costly penalty.

Account Limitations

This card doesn’t come with any rewards program since it is primarily aimed at giving you savings through credit card balance transfers.

Additionally, there’s no sign-on bonus, again because the card is focused on debt consolidation vs rewards.

It really depends on what your credit card goals are to determine if this is an issue for you.

It’s not the best fit for someone who prefers to rake in tons of reward points or cashback.

Conclusion

The Chase Slate card is a strong contender if you’re looking for a good way to transfer debt from existing credit cards that come with high-interest rates.

You could also use it strategically to make a major purchase and spread out the payments without accruing any interest — as long as you pay off your balance before that introductory period ends.

Do a quick analysis to see how quickly you could pay off your debt within the interest-free period, then compare the APRs of this card and your existing cards.

If the numbers work out, it could very well be a wise move to select this one to have in your wallet.

Lauren Ward Finance Journalist

Lauren Ward is a freelance content writer focusing on personal finance, real estate, and lending.

Her work has been featured on Huffington Post, CBS News, and Kiplinger.

She previously worked at the Federal Reserve Bank of Richmond as well as several national non-profit organizations.

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