Who Is This Credit Card Best For?
Prioritizes sticking to their budget while buying what they want and need See more cards
Attacks existing balances while avoiding new debt See more cards
Takes improving their finances seriously and wants recognition for using credit responsibly See more cards
If you're looking for a credit card that offers better terms over time with responsible usage, then the Chase Slate Edge might be for you. You'll need good-to-excellent credit to get this card, so it's best if you're already underway on your credit-building journey. Stick with a secured credit card or one meant for people with bad credit if you're building your credit from the ground up.
This card can also be a good choice if you're looking to finance a purchase such as a new refrigerator or water heater, or if you're looking to pay off existing credit card debt. However, unlike most of the cards in Chase Bank's lineup, it doesn't offer any credit card rewards for purchases you make.
Automatic rate reduction with responsible usage
Automatic credit-line-increase review with good usage
Decent intro 0% offer on balance transfers and purchases
Lower APRs exist
No rewards on spending
Longer 0% APR offers exist
- Automatic rate reduction with responsible usage: Every year you spend at least $1,000 and pay off your bills on time, you'll be eligible for a 2% APR rate reduction, down to a minimum of the prime rate +9.74% (currently, that's 12.99% APR).
- Automatic credit-line-increase review with responsible usage: If you spend enough to earn the welcome bonus ($500 in the first six months), you'll automatically be considered for a credit line increase that can help you reduce your credit utilization rate and improve your credit score.
- Decent intro 0% offer on balance transfers and purchases: You'll get 12 months of no interest on purchases and balance transfers after you open this card, making it a good choice to finance a new purchase or pay off your existing credit card debt.
- Lower APRs exist: The lowest your rate could ever be with this card is the prime rate + 9.74%, currently set at 12.99%. That's low, but there are lower-APR cards out there.
- No rewards on spending: You'll earn a one-time welcome bonus of $100 if you spend at least $500 in the first six months, but after that, you won't earn any rewards based on your spending.
- Longer 0% APR offers exist: Getting a 12-month pass on interest for purchases and balance transfers is nice, but there are several cards with longer interest-free intro periods to choose from, some as long as 18 or 20 months.
Chase Slate Edge's Bonus for New Cardholders
The Chase Slate Edge might not offer cash-back rewards on a regular basis, but you get a one-time opportunity to earn something from your spending with its $100 welcome bonus. To get it, you’ll need to spend at least $500 within the first six months you have the card. You can find a no-annual-fee card with a better 0% intro APR offer and a better welcome bonus, but it likely won't come with the APR and credit limit features of the Chase Slate Edge card.
How To Get the Most Out of This Card
First, make sure you earn the welcome bonus in the first six months you have the card. In addition to the $100 bonus, you’ll also be in the running for the credit limit increase.
A credit line increase can help build your credit score, but only if you don't lose the advantage by racking up an even bigger balance on your card. Keep working toward a zero balance to improve your credit score.
Next, make sure you're able to spend at least $1,000 per year with this card, and remember to sign up for autopay so you always pay your bill on time. Doing this ensures you really will earn your 2% interest rate reduction each year.
As the interest rate on your card works its way down over time, it can be a good idea to pair this card with a rewards-earning credit card. That way, you can use that card to earn rewards while keeping this card in your back pocket as a lower-interest option if you need to finance any purchases.
Chase Slate Edge's Other Perks
- Purchase protection
- Extended warranties
- Roadside assistance hotline
- Rental car collision insurance (secondary to your own policy)
You can expect about an average experience when working with Chase Bank, according to the 2021 J.D. Power U.S. Credit Card Satisfaction Study. Chase Bank received a score of 807, two points below the industry average of 809.
If you need to reach customer service, you can do so via a 24/7 customer support phone number or through the mobile app. Chase also offers free credit score updates to everyone (even non-customers) through its Chase Credit Journey program.
Chase does offer a few nice security features beyond the industry standard. If you're signed up for its Chase Credit Journey program, it'll provide free credit alerts. These are in addition to the alerts you'll get for suspicious activity on your account. If you notice your card is missing, you can "lock" your account against unauthorized spending through the app.
Chase Slate Edge's Fees
There's an intro fee of either $5 or 3% of the amount of each balance transfer, whichever is greater, or transfers made within 60 days of account opening. Also keep in mind that this card charges a 3% foreign transaction fee, so if you travel abroad, leave it at home and choose another payment option to take with you.