Chase Slate credit card

The Good

• No annual fee
• 0% Introductory APR for 15 months on purchases and balance transfers
• $0 Introductory balance transfer fee for transfers made during the first 60 days of account opening
• FICO® Score updated monthly for free
• Purchase and price protection – extra perks for consumers looking to save money

In our review of the Chase Slate® Credit Card, we find it is a solid card to help you get out of debt, with some beneifts but also some drawbacks. You need to move quickly, but for any existing debt transferred over within the first 60 days, you pay nothing.  Most balance transfer cards will charge you 3-4%.  Avoiding the balance transfer fee is really a huge benefit. Chase Slate® Credit Card is a relatively good balance transfer credit card. The card does not charge balance transfer fees for the first 60 days after opening an account. This Credit Card comes with a 15-month, 0% intro APR period – this means you pay no interest on your balance during that time. Having no transfer fees can be a huge money saver, especially when transferring large sums of money. This feature is what makes the Card stand out from other similar products on the market.

While the Chase Slate® card is a fine credit card in and of itself, because you can transfer balances without a balance transfer fee for the first 60 days, we recommend it most for borrowers with existing debts who think they can pay it off within the 0% introductory period.  Any remaining debt will incur a 16.24%–24.99% interest rate (standard for balance transfer cards).  So transfer as many high interest balances to the Credit Card as you can and work diligently to pay them off as quickly as possible.

The Bad

• Can’t transfer debt from another Chase account
• No rewards or cash back

Your balance transfer is limited to $15,000 or your Credit Card limit and you cannot transfer a balance from another Chase account. Chase Slate is not for heavy Credit Card users who want to earn rewards on their purchases – the Credit Card does not have a rewards program.

The Credit Card is a low-cost tool for paying down your debt. The Card provides a generous introductory 0% period, but you may be able to get 18 months at 0% elsewhere.

The Summary

The Chase Slate® Credit Card isn’t designed to be an everyday Credit Card. It specializes in one thing, which is helping users pay off their credit card debt. On that front, the Credit Card really delivers.

With a $0 annual fee and a lengthy 0% intro APR, this is a great Credit Card for helping you get out of debt and reduce high interest credit card balances. The Credit Card also gives you organizational tools to isolate certain portions of your debt and pay them off faster.  The Card is a great option for those who have existing debt and can pay the majority of it down within 15 months or less.