Chase Slate Edge Review: Is It Worth It For Balance Transfers?

Chase has come out with a new credit card offer called Chase Slate Edge℠. This card focuses on providing a low intro APR period for balance transfers and purchases. Although Chase previously offered a credit card called Chase Slate, this new card replaces it. Even though they are both Chase credit cards, there are a few differences between them.

Chase Slate Edge is a new balance transfer card that could be a good fit for your financial needs. However, you may want to consider other similar options as well. In our Chase Slate Edge credit card review, we’ll take a look at the details of the card to help you make a decision.

Chase Slate Edge: Who Should Get It?

The Chase Slate Edge is a great option for those who are planning a balance transfer or have large upcoming purchases. For 18 months, you’ll enjoy 0% APR on both transfers and purchases. After that, the variable rate will be between 17.99% and 26.74%.

The Chase Slate Edge offers some interest rate perks that could help you earn a lower regular interest rate on your balance beyond the intro period. These perks could help you save money on interest and make it easier to pay off your debt.

If you want a rewards credit card for earning cash back or travel benefits, though, this wouldn’t be the right choice for you. In addition, credit cards are not generally recommended for those who plan to carry a balance beyond the 0% APR period, as the regular variable APRs are often high.

Balance transfer fees can add up, so it’s important to know what you’re getting into before you sign up for a new credit card. The Chase Slate card has a balance transfer fee of $5 or 3%, whichever is greater, on transfers made within the first 60 days of account opening. After that, the fee is $5 or 5%, whichever is greater. This is different from the original Chase Slate card, which offered $0 for transfers made within 60 days of account opening. So, make sure to do your research before you decide which credit card is right for you.

Card Basic Info

• Type of card: Balance transfer.
• Issuer: Chase Bank.
• Network: Visa
• Annual cost: None.
• For the first 18 months, there is an introductory APR on balance transfers and purchases.
• Credit score required: Good.
• The intro APR on purchases is 0% for 18 months (then 17.99% to 26.74% variable) The intro APR on balance transfers is 0% for 18 months (then 17.99% to 26.74% variable)
• 3% fee for foreign transactions.

Chase Slate Edge: The Pros

• Receive a 0% APR on purchases for 18 months and a 0% APR on balance transfers for 18 months. These offers can help save money by avoiding accruing interest on big purchases or existing debt. Be aware that your remaining balance will be subject to the regular APR once the promo period ends.
• The Slate Edge has a $0 annual fee, so you don’t have to worry about any annual cost. 
• As long as you spend at least $1,000 on your card and pay on time, we’ll automatically give a 2% APR reduction on your next account anniversary. This means your lowest possible APR will be the Prime Rate plus 9.74%.
• After six months of on-time payments and spending at least $500, you may be automatically reviewed for a credit limit increase.
• You’re automatically covered against damages or theft for 120 days on any new purchases. You’re eligible to claim up to $500 per incident and up to $50,000 per account.
• This card entitles you to an extra year of warranty coverage on any items you purchase.
• With a Slate Edge card, you can get secondary coverage on eligible car rentals against theft and collision damage. This can give you peace of mind when you’re renting a car, knowing that you’re covered in case of any problems.
• Credit Journey offers cardholders the ability to see their latest credit score, so they can work on improving it. This is a great way to keep track of your financial health and make sure you’re on the right track.

Cons

• The Chase Slate Edge doesn’t offer any rewards or earning potential. Its primary value is in the interest rate offer.
• With a balance transfer promo period of just 18 months, Slate Edge falls on the shorter side compared to many of its competitors. However, this card still offers plenty of time for users to take advantage of 0% APR rates.
• You might want to think twice before using this card for foreign purchases, as it comes with a foreign transaction fee. For better options, check out some of the best travel credit cards. The Chase Sapphire Preferred could be a good choice for frequent travelers.

FAQs

Can Chase Slate Edge be trusted?

New cardholders can enjoy 0% intro APR on balance transfers and purchases for 18 months with Chase Slate Edge. After that, a variable APR will apply (17.99% to 26.74%). This card could be a good option for anyone wanting a balance transfer card with an intro APR offer.

How difficult is it to obtain the Chase Slate Edge?

The Chase Slate Edge generally requires good credit or excellent credit to be approved. If you have a bad credit score or a limited credit history, other credit cards might be a better option. 

How much is the credit limit on the Chase Slate Edge?

The Slate Edge from Chase does not come with an advertised credit limit. However, you can have an automatic review for your credit line after making six months of on-time payments and spending at least $500 from account opening.

Chase Freedom or Slate: which is better?

Chase is no longer offering its Freedom credit card, and you can only apply for its Slate card in person at a bank branch. However, between the available Chase Freedom Unlimited® and Chase Slate Edge, the better card for many people is likely to be the Freedom Unlimited.

The Chase Freedom Unlimited and Slate Edge are two great credit cards with Intro APRs. However, Chase Freedom Unlimited offers more opportunities to earn cash back on everyday expenses such as restaurants and drugstores. The Slate Edge does not offer any rewards.

There are a lot of great credit cards out there, but not all of them are right for everyone. Depending on your financial situation, you might be better off with a different card.  The Chase Slate Edge has some appealing features and benefits, but it might not fit the bill for everyone’s financial situation.