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Who is This Credit Card Best For?
Attacks existing balances while avoiding new debt
Takes improving their finances seriously and wants recognition for using credit responsibly
If you have high-interest credit card debt, you could benefit from transferring balances to the Chase Slate. It scores well on a number of factors you should look for when choosing a balance transfer card.
While this card is ideal for anyone who wants to avoid interest payments as they work their way out of debt, but it’s also a good option for someone who wants to make a large purchase and pay it off with no interest for 15 months.
Generous balance transfer and purchase APRs
No balance transfer fee (at first)
No annual fee
Longer 0% APR offers exist
High balance transfer fee after 60 days
High ongoing APR
- Generous balance transfer and purchase APRs: The average credit card APR is now well over 17%. Having 15 months to pay down debt at 0% APR can help you make considerable progress, and this offer is longer than what some other cards give new cardholders.
- No balance transfer fee (at first): Most balance transfer cards charge balance transfer fees of 3% or 5%, but the Chase Slate charges $0 for balance transfers made within 60 days of opening the card. Avoiding this fee can help you save a tidy sum of money upfront.
- No annual fee: Not having to pay an annual fee is a huge perk, though it’s also pretty standard among balance transfer credit cards.
- Longer 0% APR offers exist: Chase Slate has a good offer, but some of the best balance transfer credit cards give you even more time—as long as 21 months—with no interest. Those cards likely charge a balance transfer fee, but the extra months to pay off debt could be worth it. Compare cards and run the numbers before deciding.
- High balance transfer fee after 60 Days: Once your account has been open for 60 days, you’ll pay a balance transfer fee of 5% (minimum $5). That’s higher than the 3% balance transfer fee many cards charge.
- High ongoing APR: After the introductory APR ends, the rate on purchases and balance transfers jumps to a rate higher than the average credit card APR and worse than the rates offered on all the other balance transfer cards in its class.
How to Get the Most Out of This Card
With both balance transfers and large purchases, make them as soon as possible to give yourself the most time to pay off your debt. At the very least, transfer your high-interest debt balances within 60 days to secure the $0 balance transfer fee.
Beyond that, pay as much as you can each month so you can avoid paying interest once the introductory offers expire.
Balance transfer offers work best when you focus on debt repayment and stop using credit cards for regular spending.
Chase Slate’s Other Features
- Free credit score and score simulator: Chase’s Credit Journey program gives you weekly credit score updates and includes access to a score simulator that shows you how your score may change if you pay off debt or open new accounts, for example. Many, but not all, major credit card issuers offer something like this.
- Purchase protection: New purchases made with the card within 120 days qualify for purchase protection if what you bought gets damaged or stolen.
- Contactless payment: Chase Slate lets you pay by “tapping” your card on payment terminals displaying the contactless payment symbol.
J.D. Power gave Chase the fourth spot in its 2019 U.S. Credit Card Satisfaction Study, which considered the responses of over 28,000 credit card customers from September 2018 through June 2018. Chase scored 807 out of 1,000 in the study, which just above the industry average of 806.
Chase offers a robust online credit card resource center, and if that doesn’t have answers to your questions, the customer service phone line is available 24 hours a day.
The Chase mobile app also receives solid rankings from users, with 4.8 out of 5 stars on iTunes and 4.6 out of 5 stars on Google Play.
Chase offers standard security protections for the Slate card, including fraud monitoring and alerts when suspicious activity occurs on your account. As with most credit cards, you’re covered by a zero fraud liability policy, meaning you won’t be on the hook for fraudulent purchases made with your card or card number.
Fees to Watch Out For
The Chase Slate has comparable fees to its competition, but international travelers, take note: Foreign transactions carry a 3% fee.