Chase Slate review
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- Annual Fee:
- $0
- Purchase Intro APR:
- 0% Intro APR on Purchases for 15 months
- Balance Transfer Intro APR:
- 0% Intro APR on Balance Transfers for 15 months
- Regular APR:
- 16.49%–25.24% Variable
Bankrate Rating
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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% to 5% balance transfer fee. Where the Chase Slate stands out is the opportunity to not pay any balance transfer fees 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 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. With the Chase Slate, that same transfer will cost you nothing if it is made within the first 60 days of account opening.
Treat the money you’ll save on transfers during the first 60 days of card ownership as a 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 –could 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 the Slate.
Advantages
- Intro offer includes 0% APR on purchases and balance transfers for the first 60 days.
- No penalty APR for late payment.
- No fee if you go over your credit limit.
- Receive a free monthly FICO score report.
Disadvantages
- There are no balance transfer fees on transfers made within the first 60 days of opening the account. After that, it jumps to $5 or 5% of the amount being transferred, whichever is greater.
- 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 16.49% to 25.24%, 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, capped at $2,500 a year.