Chase Slate® Credit Card Review

By Triston Martin Updated on Sep 05, 2022
A balance transfer credit card is what the Chase Slate® is. This kind of card allows you to transfer and more easily pay off a balance you owe on another card by providing you with a low or 0% introductory rate for a predetermined period of time. Your interest rate will significantly increase after that.

The Chase Slate EdgeSM credit card doesn't offer enough edge. The card's main benefits include an introductory APR of 0% for 18 months after account opening on purchases and balance transfers. After that, a variable APR of 17.24% - 25.99% applies. There is an initial transfer fee of $5 or 3% of each transfer amount, whichever is higher if it is made within 60 days of the account establishment.

Introduction to APR

You will be given an automatic, one-time review for a higher credit limit if you make on-time payments and spend $500 in the first six months.

No yearly fees

Acquisitions And Transfers

Start strong with an 18-month introductory period of 0% intro APR on purchases and debt transfers. Purchases and balance transfers will have a variable APR ranging from 17.24% to 25.99% after the promotional period.

Reduce your interest rate by 2% annually. You will automatically qualify for a lower APR if you pay your bills on time and charge at least $1,000 in purchases by the account anniversary the following year.

No yearly fees

For the first 18 months after the account is opened, purchases and balance transfers have a 0% intro APR; thereafter, a variable APR ranging from 17.24% to 25.99% is in effect. If the transfer is done within 60 days of the account opening, an initial transfer fee of $5 or 3% of each transfer amount, whichever is higher, applies. After that, there is a cost of $5 or 5% of each transfer's value, whichever is higher.

The Chase Slate Edge Credit Card Purchase Protection includes the following advantages: $500 per claim, a maximum of $50,000 per account, and 120 days of new purchase coverage.

Use this card to pay for a collision damage waiver instead of collision insurance at the rental car desk.

Provides an additional year of manufacturer warranty coverage on eligible goods.

Zero Liability Insurance: The cardholders are not liable for unauthorized purchases.

Balance Transfer Fee

$5 or 5% of each transfer's total amount, whichever is higher.

The cash advance amount is $10 or 5% of each transaction's value, whichever is bigger.

Foreign Purchase Transaction Fee: $3 in US dollars per foreign purchase transaction.

The Chase Slate Edge Credit Card is compared.

Owners of the annual-fee-paying Chase Sapphire Preferred® Card receive 5 points for every $1 spent on travel booked through Chase Ultimate Rewards®, 3 points for every $1 spent on dining, certain streaming services, and online grocery purchases (but not at Walmart, Target, or wholesale clubs), 2 points for every $1 spent on all other travel-related purchases, and 1 point for every $1 spent on all other purchases. Additionally, they receive a 10% bonus on all purchases after the first year of card membership. After spending $25,000, the cardholder will get 2,500 extra Chase Ultimate Rewards® points.

Chase Slate EdgeSM Card vs. Citi Custom CashSM Card

The Citi Custom CashSM Card, which has no annual fee and offers 5% cash back on purchases made in a top qualifying spending category each billing cycle, up to the first $500 in monthly budget, and 1% cash back on all other purchases, may be of interest to candidates who want rewards. In addition, Citi Custom Cash offers a $200 welcome bonus once you spend $750 on purchases within the first three months of starting your account. 20,000 ThankYou® Points are the output is increased; they may be traded for $200 in cash back.

Chase Slate Edge vs. Chase Freedom Flex

For those with sufficient credit to qualify, the Chase Freedom FlexSM is a better choice in the long run. For 15 months following account activation, the Chase Freedom Flex provides a remarkable 0% introductory APR on purchases and debt transfers. After then, a variable APR ranging from 17.24% to 25.99% is in force. In addition to earning 5% cash back on up to $1,500 in quarterly rotating categories (which requires activation), it also earns 5% on travel booked using Chase Ultimate Rewards®, 3% on eating and drugstores, and 1% on all other transactions.

Do You Need the Chase Slate Advantage Credit Card?

The Chase Slate Edge card provides a card with a lower initial APR for folks with questionable credit good enough to qualify for anything with fixed durations.

The annual benefit of a 2% reduction in APR may be helpful for folks who routinely carry amounts, but it won't stop the interest expenses from building up over time. In the end, the Chase Slate Edge is a dull knife.