Card Review: Chase Slate Edge – Back, but Better Than Ever?
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The Chase Slate Edge, with 0% purchase and balance transfer APRs, gives you time to pay off some new big-ticket items or old credit card debt. Pay on time to get a chance for a higher credit limit, a nice feature that can help your credit scores.
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Our Rating: 4 Out of 5 Stars
Why We Like It
- Pay off new expenses with the 0% purchase APR, and/or pay off credit card debt with the balance transfer offer
- Welcome bonus is a rare feature on a card like this: $100 statement credit for spending $500 in the first 6 months of account opening
- Get considered for a higher credit line pretty quickly, by paying on time and spending $500 in the first 6 months
- Decent shopping and travel protections
- No annual fee
Why It Could Be Better
- 0% intro APR periods aren’t as long as other no-interest cards
- No spending rewards, unlike some other cards with 0% APRs
- APR reduction benefit could encourage bad credit card habits
Chase discontinued the somewhat-iconic Slate card in 2020, replacing it with the Chase Slate Edge℠. As of its release, the Slate Edge doesn’t quite stack up to its predecessor in some key areas (like 0% period length), although it comes with some interesting new benefits.
Cardholders can get a chance at a higher credit line pretty quickly, which is helpful for paying off debt and reducing credit utilization, while Chase Offers can put some money back in your pocket. There’s also an APR reduction feature, but this isn’t very useful (who wants interest charges, even if they’re a bit lower?).
The Slate Edge could serve its purpose fairly well, and the credit limit boost is nice, but if you want a very long 0% period you’ll have to look elsewhere. Overall, this card is probably best if you have debt with other card issuers and you want to pay it off with a balance transfer.
Insider Advice: Getting the Most Out of Your Card
- Earn a little bonus: Usually, only cards with spending rewards have welcome bonuses; but the Slate Edge gives a little back if you spend enough. Since this card has no annual fee, that could be all profit, assuming you avoid interest and other fees. But, if you’re getting this card for a balance transfer, you may not have enough credit limit leftover to earn the bonus.
- Take your time to pay for large (necessary) expenses: If you’ve got to pay for something expensive, like home renovations or medical treatment, use the Slate Edge to spread those payments out over time. Just be sure to make the minimum payment each month, and pay off the balance by the end of the 0% period.
- Get some help with credit card debt: High-interest credit card debt can seem insurmountable — it just keeps growing and growing. But you can transfer that debt to the Slate Edge, where it’ll get a 0% interest rate for a set period. Now you won’t be chasing interest charges, and your full monthly payments will go toward the principle balance. Just be sure to factor in the balance transfer fee.
- Increase your spending power by being a responsible cardholder: If you spend $500 in the first six months and pay on time — which should be a piece of cake for most cardholders — you’ll automatically be considered for a higher credit limit. A higher credit line can help your credit scores by increasing your available credit and lowering your credit utilization.
- Lower your APR… but so what? For every account anniversary year that you a) pay on time and b) spend at least $1,000, you’ll be considered for a 2% APR reduction (down to a certain limit). But this isn’t much of a benefit, because you shouldn’t carry a credit card balance from month to month unless the interest rate is 0%. Whether your APR is 16%, 14%, or 12% — carrying credit card debt will be expensive. Use this card’s 0% offers to pay over time, but when those offers are over pay your statement balance in full each month.
- Check out Chase Offers and other perks: The Slate Edge doesn’t have rewards but it does have access to Chase Offers, which provides statement credits for shopping at select retailers. Add an offer to your card online or in the Chase app, and you’ll be good to go. There’s also a small selection of shopping and travel protections, like purchase protection and auto rental insurance, which could be handy in some unfortunate circumstances.
The Chase Slate Edge has no actual credit card rewards, but you can earn a decent return on some initial spending.Many cards offer rewards and 0% intro APRs; check them out here. Best Rewards Credit Cards
- Increase your credit limit: Pay on time and spend $500 in the first six months to be automatically considered for higher credit line.
- Lower your APR by 2% per year: For each account anniversary year that you pay on time and spend at least $1,000, you’ll be considered for an APR reduction of 2%, until your APR reaches the prime rate + 9.74%.
- Chase Offers: Earn discounts in the form of statement credits by shopping with eligible retailers. You must select an offer before making an eligible purchase to get the credit.
- Free credit score: Use Chase Credit Journey to monitor your VantageScore 3.0 credit score, based on your TransUnion credit report.
- Purchase Protection: Eligible new purchases are covered against damage and theft for 120 days, up to $500 per claim and $50,000 per account.
- Extended Warranty Protection: Eligible U.S. manufacturer’s warranties of three years or less can be extended by an additional year.
- Auto Rental Collision Damage Waiver: Get secondary coverage for theft and collision damage of eligible rental cars when you decline the rental company’s insurance and charge the entire rental to your card.
- Roadside Dispatch: Call 1-800-847-2869 for help on the road, including tows, tire changes, winching, gas delivery, and locksmith services.
- Contactless: Tap to pay at eligible checkout terminals.
The Terms & Fees
|Purchase APR||Balance Transfer APR||Cash Advance APR|
|0% for 12 months, then 14.99%–23.74% Variable||0% for 12 months, then 14.99%–23.74% Variable||24.99% Variable|
|Annual Fee||Foreign Transaction Fee|
|Balance Transfer Fee||Cash Advance Fee|
|3%, $5 minimum||5%, $10 minimum|
|Penalty APR||Late Fee||Returned Payment Fee|
|Up to 29.99%||See Terms||See Terms|
The Bottom Line
On the other hand, the 0% periods aren’t terribly long for a card like this — you can find reward cards from Chase and other issuers with 0% periods just as long or longer. The higher credit line chance is a bit more rare, however, and could be handy if you’re worried about getting a small limit (but there’s no guarantee you’ll be approved for a higher limit).
Although the Slate Edge gives you a fair bit of time to pay, and comes with some interesting perks, it doesn’t really stand out among 0% APR credit cards. It could be most useful for those who have debts with other card issuers, and want a balance transfer card to help pay them off (because you can’t usually transfer balances between a single issuer’s cards).
How Do I Apply for the Chase Slate Edge?
Follow the link below to begin your application. Credit card issuers often give an instant answer, but in some cases you may need to provide more information.
What Credit Scores Do I Need To Qualify for the Chase Slate Edge?
The Slate Edge is designed for people with good credit, at least. You have good credit (by most measures) if your FICO scores are at least 670, or your VantageScores are at least 700.
But it’s possible to be approved with worse credit than that, or denied with good or better credit. Other factors, like income and the current economic situation, also play a role.
Frequently Asked Questions
How do I increase my credit limit with the Chase Slate Edge?
You can be automatically considered for a higher credit limit by spending $500 in the first six months and paying on time. And, like other cards, you can also request a higher credit line or wait for automatic limit increases.
How do I lower my APR with the Chase Slate Edge?
For each anniversary year that you spend at least $1,000 and pay on time, you’ll be considered for a 2% APR reduction. But, unless you have a 0% APR, we don’t recommend ever carrying a balance on a credit card because it’s a very expensive type of debt.
See some excellent 0% APR credit cards.
Alternatives to the Chase Slate Edge Card
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The information related to U.S. Bank Visa® Platinum Card has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.
The information related to Chase Freedom Flex℠ has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.
What do you think about using the Chase Slate Edge to pay off big purchases or other credit cards? Would you pick it over other cards?
Brendan has been writing about personal finance for over eight years, and is now taking on the challenge of bringing high-quality credit education to the masses. He makes sure that Credit Card Insider is covering the most important credit topics transparently and precisely, and that we have up-to-date reviews of credit cards so you can find cards that are right for you.
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