Our Verdict
Editor’s Note: This card is not currently accepting new applications online. All information about the product has been collected independently by Forbes Advisor. See your cardholder agreement for current rates and product details.
The Chase Slate card offers one primary benefit–a no-fee balance transfer (details below). As such, the card is ideal for those trying to pay down debt. Without a rewards program, however, the card is not ideal for everyday purchases.
Introduction
While reviewing this credit card, we found ourselves creating our own version of Gwen Guthrie’s 1986 hit “Ain’t Nothing Goin’ On But The Rent.” In the hook she sings “you got to have a J-O-B if you want to be with me.” For this review, we would say “you’ve got to have better offerings if you want to be in our wallet.”
It’s shocking to see Chase, a bank that is famous for credit card bells and whistles as seen in the Sapphire series, create a card with limited offerings. An introductory zero annual percentage rate for tcan be an attractive offer, but once that’s all gone Chase Slate is a no-frills credit card. If we’ve learned anything from ‘How Many Credit Cards Should You Have,’ it’s that each credit card needs to have a purpose that benefits you past the signup bonus offer.
Chase’s credit cards are popular for their travel rewards and can come with a high premium. Some may assume the bank targets consumers over a certain income level. It’s not wrong, but it’s not completely right either.
The Chase Slate credit card is one of Chase’s more affordable credit card options. It carries no annual fee, offers cardholders free access to their credit score along with a summary of their Experian credit report, and it features an introductory APR. That’s it. Simple, helpful and low cost.
At a Glance
- No annual fee
- Introductory APR on eligible purchases and balance transfers
0% Introductory Rates
Slate’s primary benefit is its introductory balance transfer offer. While there are many balance transfer credit cards, one thing sets the Slate Card apart–its no balance transfer fee offer. If you transfer a balance in the first 60 days your account is open, Chase doesn’t charge a transfer fee.
This benefit is significant. It is standard for balance transfer cards to charge 3% of the amount transferred. Some cards charge as much as 5%. Compared to those cards, you save $30 to $50 for every $1,000 transferred to a Slate card.
The introductory rate applies to both purchases and balance transfers. After that time, any remaining balances incur interest at the regular APR (see below). That’s important to keep in mind. If you do transfer a balance to Slate, make sure to have a plan to pay off that amount before the introductory rate expires.
Other Card Benefits
- Free credit score and limited credit report
- Visa network allows it to be accepted nearly anywhere
- Purchase protection insurance: up to $500 per claim and $50,000 per account on stolen or damaged purchases
Fine Print
Please see your cardholder agreement for current rates and fees.
How The Card Stacks Up
For those looking for a balance transfer card please see our list of best balance transfer credit cards.
Keep in mind that with the above offers, you may need to initiate the balance transfer within a certain period of time after getting the card to avoid a balance transfer fee. And like all 0% balance transfer cards, the interest rate reverts to the regular APR when the introductory period expires.
Is The Card For You?
This card is great for someone who intends to make a large purchase or transfer a high-interest balance. The key is to pay the balance off before the introductory rate expires. Outside of that, this credit card does not pack a lot of value. We suggest choosing credit cards that you can continue to benefit from after the introductory rates and fee waivers expire.
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