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Updated April 13, 2017

Chase Slate Review: Best Way to Pay Off Debt?

Editorial Note: This content is not provided by the card issuer. Opinions expressed here are author's alone, not those of the issuer, and have not been reviewed, approved or otherwise endorsed by the issuer.
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If you have credit card debt, Chase Slate's no balance transfer fee promotion and introductory APR offer is tempting. But is there a catch? Read this review before transferring your balance.

4/18/2022 Update: Chase Slate is no longer available on CreditDonkey. This offer may have been discontinued or may no longer be available to new applicants.

5-point scale (the higher, the better)

Pros and Cons

  • Intro APR on purchases and balance transfers
  • Intro balance transfer fee during first 60 days
  • No annual fee
  • No rewards

Bottom Line

Good low interest credit card for those who carry a balance

Here are the basics: this credit card helps you save with a $0 intro balance transfer fee for the first 60 days your account is open. After that, the fee for future transactions is 5% of the amount transferred with a minimum of $5. You get a 0% intro APR for 15 months on purchases and balance transfers. After that, a (See Issuer's Website) APR. There is $0 annual fee.

But this card is not for everyone. You need good to excellent credit to qualify.

It's also worth noting Chase Slate does not offer a rewards program. If you want to collect cash back or travel rewards, you may be better off with another card.

Still interested in making a transfer? Let's examine the card in-depth.

Who This Card is Good For

If you fall into any of these categories, you may view it as a favorable card:

  • You want to cut through the credit card balances that have been accruing interest. (See below on how to be smart about making a balance transfer.)

  • You do not want to pay an annual fee.

  • While you may like the idea of getting rewards for using a credit card, you tend to carry a balance and never get around to redeeming rewards.

What is the Best Chase Credit Card Promotion?

ForCredit Card
Cash BackChase Freedom Unlimited®
TravelChase Sapphire Preferred®
Small BusinessInk Business Preferred®

Need a Balance Transfer? Why This Card

When you're shopping around for a card that you can use to consolidate your debt or take advantage of a 0% APR promotional balance transfer offer, the Chase Slate is a knockout card. Here's why:

  • It has a no balance transfer fee promotion for the first 60 days (this is very rare, with many cards tacking on a 3%-5% transfer fee). Note: After the first 60 days, the fee for future transactions is 5% of the amount transferred with a minimum of $5.

  • You don't have to pay interest on your balance transfer for 15 months. That's over a year of 0% APR promotion on your balance transfer.

  • This card has no annual fee. To get the most out of this card, make sure to pay off at least the minimum balance every month, on time, and pay off the whole thing by the time the introductory APR period ends.

We'll explain more below. But first, here are some current credit card promotions you should not ignore.

  • Chase Freedom Unlimited
    Apply for Chase Freedom Unlimited
    Chase Freedom Unlimited lets you earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel, 4.5% on dining and drugstores, and 3% on all other purchases.

    After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases. The cash back rewards will not expire as long as your card account remains open. There is also a 0% intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%. There is no annual fee.

Chase Slate Balance Transfer Review

BE SMART ABOUT MAKING A BALANCE TRANSFER

If the term "balance transfer" gives you a headache, we'll make it simple for you. You're simply moving your debt from one credit card company to another. You will still have to pay off your balance but the transfer gives you some breathing room, by giving you a lower interest rate.

This move can be an incredibly effective way to pay down your debt quickly. It could save you hundreds and even thousands of dollars in interest charges. But that's the case only if you:

  • Take a advantage of a promotional offer, like Chase Slate's, that will give you a certain amount of time (preferably at least a year) to pay off your balance with a promotional interest rate on balance transfers and, ideally, won't charge a balance transfer fee (that last part is hard to find).

  • Actually try to pay off the full balance you owe before the promotional offer ends. It's very tempting not to do this and to go back to paying off the minimum balance or other small amount each month. Do a balance transfer only if you can be diligent and give yourself a payment plan (in other words: if you're moving a $5,000 balance to Chase Slate, divide by 15 months and be sure to pay at least $333 each month). And don't miss payments or you risk negating the deal and having interest rates tacked on to the balance earlier than you originally anticipated.

  • Pay attention to the terms of the deal. Every balance transfer is different. Be sure your understand when the promotional period ends, any balance transfer fee, and any conditions (i.e., the Chase Slate will charge you a fee if you don't make your move within 60 days of opening the account).

  • Don't use the new card for purchases. If the main reason you signed up for a new card was a balance transfer, then use it only for that purpose. Adding purchases to the account might be digging a deeper hole. The promotion could entice to spend more than you can afford with so much time to pay it off in full.

Best practice is to focus on paying down your debt on this card. Use another card (or cash) to buy new items. Do not let yourself think promotional APR on one credit card suddenly gives you free rein to spend wildly; always spend within your means.

Benefits of Chase Slate Card

What You Need to Know about the Introductory APR

This credit card offers an introductory 0% APR on new purchases and balance transfers for 15 months. After the introductory period on new purchases and balance transfers, the APR will be (See Issuer's Website), depending on your creditworthiness.

If you are paying interest on credit cards from another issuer (non-Chase), you can save money during the introductory period by transferring your balances to your Slate card.

Some people think a credit card can raise its interest rates at any time. Federal law prohibits card issuers from using this kind of "bait and switch" tactic. As long as you abide by the cardholder agreement, a card promising an 15-month, 0% intro APR must keep that promise. The regular APR that applies after the intro period could change, however.

Don't miss payments: You still need to be sure to make at least your minimum payment each month. We recommend paying much higher than that in order to pay off your balance before the intro period ends. If you are more than 60 days late on a payment, Chase will cancel your introductory period.

Why the No Balance Transfer Fee Matters

One fantastic feature of the Slate Card is that it does not charge a balance transfer fee on balance transfers during the account's first 60 days. This is a good deal for anyone in the market for a balance transfer as most other credit cards usually charge a 3%-5% balance transfer fee.

After 60 days, there is a 5% fee (with a minimum of $5) for future balance transfers. Be sure to transfer other balances quickly to take advantage of the promotional offer.

Why Look Elsewhere? No Rewards

The downside of the card is that it offers no rewards program. Purchases on your Slate card do not earn any cash back, airline miles, or merchandise. Instead, this card was designed as a no-frills balance transfer card with no annual fee.

If you plan to pay off your balance each month on your next credit card, this card may not be a good choice because you'd miss out on getting something back for your purchases. You may want to consider a rewards credit card instead.

On the Plus Side, There's No Penalty APR

If you pay late for any reason, the interest rate will not rise with this card. Unlike other cards that charge a penalty APR, Chase understands that sometimes life gets busy. Keep in mind, other account-specific pricing, terms and conditions still apply.

Related: Chase Credit Card Bonus

Chase Slate with Blueprint Credit Card Review

Flexible Options for Paying Your Balance: Blueprint

When you use the Chase Slate Card, you are automatically enrolled in the Blueprint payment program. This program gives you a way to manage your account payments to achieve different goals.

For example, the Full Pay plan lets you avoid interest on certain purchases, such as groceries, gas, or prescriptions by selecting the categories you want to pay in full each month. If you pay off these purchases every month, they are not included in your account balance when interest is calculated. This feature is useful if you need time to pay off larger purchases.

Another option is the Finish It plan. When you select this option, Chase bills you each month for the amount needed to pay off your balance by your selected date.

One More Reason to Get It: Free Credit Score

It's a common myth that applying for a new credit card will cause your credit score to plummet. That's not true. While applying for a credit card does generate a "hard" inquiry - the impact on your credit score is usually negligible, typically lowering your score by just a few points.

Plus, with the Chase Slate, you get access to your FICO credit score using the online credit dashboard. On the dashboard, you'll also learn the reasons behind your score and a summary view of your credit report. With that knowledge, you can work on improving your credit score.

Pros

  • 0% introductory APR for 15 months on purchases and balance transfers. After that, a (See Issuer's Website) APR applies.
  • $0 intro balance transfer fee for transfers during the first 60 days. After that, 5% or $5 (minimum) balance transfer fee for future balance transfers
  • No annual fee
  • Chase Blueprint

Cons

  • No rewards plan

How Chase Balance Transfer Credit Cards Compares

Before you go ahead and apply for the Chase Slate, consider how it stacks up with the competition.

If you want rewards and don't mind paying a balance transfer fee:

[chase-slate,chase-freedom.compare5+s=20240301y1l]

Chase Slate vs Freedom:
Chase Freedom: The Chase Freedom also offers an introductory APR on balance transfers, but it has a balance transfer fee.

So why would you consider the Chase Freedom instead? Cash back rewards on new purchases (see Chase Slate vs Freedom). With the Freedom, you can earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories every 3 months. Unlimited 1% cash back on all other purchases.

Read our review of Chase Freedom here.

If you don't have a balance to transfer:

Chase Sapphire Preferred does not have a balance transfer promotion. If you don't carry a balance, read our Chase Sapphire Preferred review to see why it's worth the annual fee (also see Chase Slate vs Sapphire Preferred).

If you have an existing balance from a Chase credit card:

If you need more than 15 months:

Citi Simplicity offers a long introductory balance transfer promotion. But there's a catch. It has a balance transfer fee. If you can pay off your credit card debt within 15 months, the Chase Slate is a better deal since it has an introductory no balance transfer fee promotion (see Chase Slate vs Citi Simplicity). Otherwise, if you need more than 15 months, read our in-depth Citi Simplicity review.

Bottom Line

The Chase Slate is very worth it to someone who has a good credit history but has a fair amount of credit card debt to pay off.

The no balance transfer fee introductory offer is fantastic and difficult to find elsewhere. And it's also a great card to keep around if you tend to keep a balance and need a steady card with flexible payment options—as long as you don't mind not getting rewards your purchases.

4/18/2022 Update: Chase Slate is no longer available on CreditDonkey. This offer may have been discontinued or may no longer be available to new applicants.

David R is a contributing writer at CreditDonkey, a credit card comparison and reviews website. Write to David R at davidr@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Editorial Note: This content is not provided by Chase. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Chase.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. This site may be compensated through the Advertiser's affiliate programs.

Editorial Note: This content is not provided by Chase. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Chase. This site may be compensated through the Advertiser's affiliate programs.

Editorial Note: This content is not provided by Bank of America. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Bank of America.

Editorial Note: This content is not provided by Discover. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Discover.

Editorial Note: This content is not provided by Citi. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citi.

Disclaimer: The information for the Chase Slate, BankAmericard® credit card, Chase Freedom, Discover it® Cash Back, and Citi Simplicity® Card has been collected independently by CreditDonkey. The card details on this page have not been reviewed or provided by the card issuer.

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About CreditDonkey
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Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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