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Hoping that credit card debt disappears? Us, too. The Chase Slate card can help ease the pressure from accruing interest with its balance-transfer features. New cardholders are granted a 0% intro APR for the first 15 months on purchases and balance transfers.
There are other credit cards on the market offering longer terms like 18- and 21-month 0% APRs on balance transfers, but nearly all of them charge a 3% balance transfer fee. Where the Chase Slate stands out is the option to forgo a balance transfer fee if you make the transfer within the first 60 days of opening the account. This could add up to a considerable savings, but only if you plan on paying the balance off within the Chase Slate’s 15-month interest-free period.
How much is that free balance transfer worth? If you paid the 5% transfer fee Chase Slate normally charges, it would cost you $500 to transfer a $10,000 credit card bill. That’s not small change.
Treat the money you’ll save on transfers during the first 60 days of card ownership as a rather lucrative sign-up bonus.
Who should get this card
Anyone trying to pay off one or more balances — or someone looking to make a big purchase and save on interest charges — would benefit from the 0% APR on balance transfers and purchases during the introductory period. Keep in mind, though, that while there’s no limit on number of balances you can transfer, you cannot transfer debt from another Chase credit card to Slate.
Fees and APR
- Chase Slate charges no annual fee.
- There is no penalty APR, meaning Chase won’t raise your variable interest rate if you pay late.
- You’ll pay a 3% foreign transaction fee for purchases made outside the United States.
- After the introductory period ends, the variable APR on balance transfers and purchases is 15.99% to 24.74%, based on your creditworthiness.
Extras and perks
Like most cards, the Chase Slate comes with fraud protection and purchase protection. As a Chase card, it also comes with a price protection feature where if you find the same item advertised for less within 90 days of your purchase, you can get reimbursed the difference up to $500 and capped at $2,500 a year.
How this card compares
Citi Diamond Preferred gives you 21 interest-free months to pay off purchases and balance transfers. That’s the longest 0% introductory period available today.
The Citi Simplicity Card also offers a 21-month 0% intro APR on purchases and balance transfers. You’ll also never pay late fees or get stuck with a penalty APR.
The Barclaycard Ring Mastercard offers a lengthy 0% introductory APR on balance transfers, but earns its high marks by waiving the balance transfer fee so many other offers impose.
Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines, or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.