Chase Slate

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This card offers one of the cheapest ways to get out of debt.

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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.

Review

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.

Advantages
  • Intro offer includes no balance transfer fee for the first 60 days. Then, the fee is 5% of the transferred amount.
  • No penalty APR for late payment.
  • No fee if you go over your credit limit.
  • Receive a free monthly FICO score report.
Disadvantages
  • Those who consistently carry a high balance on their card might be better off long-term with a lower APR card, as the variable rate on the Chase Slate after the 15-month intro period can be relatively high.
  • The initial balance transfer is capped at either $15,000 or the credit limit the cardholder is approved for -- whichever is lower. Those with a high debt load may not be able to transfer their entire balance from another credit card.

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® Card
Card Details
  • Get 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the variable APR will be 13.99% - 23.99% based upon your creditworthiness*
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer
  • Citi® Price Rewind searches for lower prices online for 60 days for your registered purchases: you can get back up to $500 per item and $2,500 a year*
  • $0 liability on unauthorized purchases and Citi® Identity Theft Solutions
  • No annual fee*
  • Free access to FICO® Scores*
Credit Needed Good
Regular APR 13.99% - 23.99%* (Variable)
Annual Fee $0*
Purchase Intro APR 0%* for 21 months*
Balance Transfers Intro APR 0%* for 21 months*

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.

Citi Simplicity® Card
Card Details
  • The Only card with No Late Fees, No Penalty Rate, and No Annual Fee...Ever
  • 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the variable APR will be 14.99% - 24.99% based on your creditworthiness*
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater
  • The same great rate for all balances, after the introductory period
  • Save time when you call with fast, personal help, 24 hours a day - just say "representative"
  • Enjoy the convenience of setting up your own bill payment schedule on any available due date throughout the month
Credit Needed Excellent
Regular APR 14.99% - 24.99% (Variable)
Annual Fee $0*
Purchase Intro APR 0%* for 21 months*
Balance Transfers Intro APR 0%* for 21 months*

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.

Barclaycard Ring™ Mastercard®
Card Details
  • 0% Introductory APR for the first 15 months on purchases. Plus, you'll get a 0% introductory APR for 15 months on Balance Transfers made within 45 days of account opening. After that, a variable APR will apply, 13.99%
  • No balance transfer fees
  • No foreign transaction fees
  • Chip technology, so paying for your purchases is more secure at chip-card terminals in the U.S. and abroad
  • Free online access to FICO® Credit Score
Credit Needed Excellent
Regular APR 13.99% Variable
Annual Fee $0
Purchase Intro APR 0% for 15 months
Balance Transfers Intro APR 0% for 15 months (on balance transfers made within 45 days of account opening)

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.

EDITORIAL NOTE

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.