Review of the Chase Slate Credit Card: A Way Out Of Debt
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The Chase Slate Credit Card is a simple card with one main purpose: balance transfers.
This is one of the best cards available if you want to pay down a large balance at zero interest, because it gives you 15 months to do so. You’ll be able to transfer a balance away from an account that’s accruing interest and onto this card. Then you can pay it off without worrying about those interest charges.
Best of all, there’s no fee for your balance transfer, as long as you make it within the first 60 days. That’s a very rare find on credit cards, which usually charge a fee of at least 3%.
Or you can just use this card to pay off purchases over time without accruing interest. But you won’t earn any rewards on those purchases. Keep reading to learn how you can use the Chase Slate to save quite a bit of cash.
Card Rating: 5 Out of 5 Stars
Why We Like It
We gave the Chase Slate 5 out of 5 Stars because it’s one of the best options out there for balance transfers, but you may end up paying a transfer fee with it.
- It provides a great way to help get out of credit card debt.
- No fee for balance transfers made in the first 60 days, and 15 months to pay off balances at no interest.
- There’s 15 months at 0% interest for purchases too.
- Free three-month DoorDash membership
- No annual fee.
- Monitor your VantageScore 3.0 credit score, based on your TransUnion credit report.
Why It Could Be Better
- There are no rewards for purchases, and no signup bonus.
- You may get a 0% intro fee for balance transfers, but you may also get a 1% or 2% fee.
- Besides the VantageScore 3.0 access, there are only some basic shopping and travel benefits.
Insider Advice: Getting the Most Out of Your Card
- Use this card to save money by transferring a balance away from an account with a high interest rate. Be sure to make payments every month, and finish paying it off by the time the introductory period ends.
- You can transfer balances from non-Chase accounts, up to to your credit limit or $15,000.
- If you’re using this card to help pay down old debt, commit to paying off the balance without adding more charges.
- You can also use this card to make purchases and pay them off over quite a while. But you won’t earn any rewards when you do, and there are many cash back cards with intro APR periods that would be better for this.
- Add your Slate card to your DoorDash account to get a three-month DashPass membership for free, and a 50% discount on the next nine months. DashPass provides free delivery and reduced service fees on orders over $12.
- After you finish paying off your balance, don’t close out the card account. Having more total available credit is good for your credit scores.
- Check up on your credit with the Credit Dashboard. Learn how credit works and what you can do to improve your score.
You won’t earn any rewards, like points or cash back, for using this card. Instead, see how you can save money with this card in the next section.
How Much Money Could I Save?
Here’s an example to see how much money you can save with the Chase Slate.
Say you have a balance of $5,000 on your My Best Buy™ Credit Card (Review). At an interest rate of 26.49%, you will end up spending almost $1,000 in interest if you take 15 months to pay it off. You would also have to make monthly payments of $396 to pay it off in that time.
Instead, you could transfer that balance to the Slate card, either for free or for a low fee. Then you’d have those 15 months to pay off the $5,000 without incurring any interest. As long as you always pay on time and finish paying off the balance before the 15 months are over, that’s an easy way to save over $1,000. Your monthly payments would be lower too, only $334. That’s because you won’t be paying for that extra interest.
Get a free DoorDash membership (DashPass) for three months, and then a 50% discount on the membership for the following nine months. The membership gives you free delivery and reduced service fees on orders over $12.
Chase provides a way for you to monitor your credit and track it over time. You can see your VantageScore 3.0 for free any time, based on your TransUnion credit report.
Chase Credit Journey
This credit monitoring service lets you check your VantageScore 3.0, based on your TransUnion credit report. There’s also a score simulator you can use to see how paying off debt will affect your credit.
Your eligible purchases with the card are covered for 120 days against theft or damage. Up to $500 per claim is available, and up to $50,000 per account.
Extended Warranty Protection
For purchases made with the card, eligible manufacturer’s warranties can be extended by one additional year. Applies to warranties of 3 years or less.
Call 1-800-VISA-TOW (1-800-847-2869) for help in emergencies on the road. For a fee of $59.95 per service call, you can get:
- Towing: up to 5 miles included
- Tire Changing: must have a good, inflated spare
- Jump Starting: a battery boost
- Lockout Service: no key replacement
- Fuel Delivery: up to 5 gallons (cost of fuel not included)
- Winching: within 100 feet of a paved or county maintained road
Auto Rental Collision Damage Waiver
Provides coverage against collision damage and theft for your rented vehicles. You must decline the car rental company’s own insurance for this to take effect.
Cardholders will get some other minor benefits with this card, like Fraud Protection and Fraud Alerts. These can be handy if you ever have any unauthorized activity happening with your account.
The Costs & Fees
|Intro APR for Purchases and Balance Transfers||Regular Purchase and Balance Transfer APR||Cash Advance APR|
|0% for 15 months||16.49%–25.24% Variable||26.49% Variable|
|Annual Fee||Foreign Transaction Fee||Balance Transfer Fee||Cash Advance Fee|
|$0||3%||$0 for the first 60 days, then 5%, $5 minimum||5%, $10 minimum|
|Penalty APR||Late Fee||Returned Payment Fee|
|None||See Terms||See Terms|
The Chase Slate has long been known for its no-fee intro balance transfer offer. There is no fee for balance transfers made in the first 60 days after opening the account.
This could save you a lot of money compared to most other cards, which will charge around 3% for transfers. If you’re transferring $5,000, for example, a 3% fee will be $150 extra you have to pay.
After 60 days, you’ll be charged a fee of 5% (minimum of $5) of the amount transferred. Balance transfers need to be less than your credit limit, with a maximum of $15,000.
There is no penalty APR with this card. That’s a high rate that other cards might apply to your account if you make a late or returned payment.
If your 0% rate runs out, or if you’re using a credit card without a 0% APR, you can still avoid interest charges on purchases. Just pay off your balance in full each billing period.
The Bottom Line
If you want to make a balance transfer to reduce your interest payments and help get yourself out of credit card debt, the Chase Slate Credit Card is one of your best options for that.
Transfer a balance to this card for free during the first 60 days. Then you’ll have 15 months to pay it off at zero interest.
Or you can use this card to pay off large purchases over that time. Even though you won’t earn rewards, you’ll have quite a while to pay them off.
This is one of the best transfer deals you’ll find in credit cards, because most charge a fee of at least 3%. This would be quite hefty on large balances of thousands of dollars.
However, if you get an offer for the Slate that includes a transfer fee, you may want to look into some other balance transfer options.
How to Apply for the Chase Slate Credit Card
Want to learn more or apply for this card? Just click the Apply Now button below.
You’ll be taken to Chase’s website, where you will see a particular balance transfer offer — probably 0%, 1%, or 2%. If you get something other than 0%, it may be worth your while to search for the card through Google or Chase’s site to see if you can land on a page with a better card offer.
When you apply, Chase will check your Equifax credit report. Applicants with a better credit history will have a better chance of being approved.
Alternatives to the Chase Slate Credit Card
There are several other good balance transfer cards out there. Some of these offer cash back as well, while others are just good for paying off balances at no interest.
- Citi Simplicity® Card (Review): 21 months at 0% APR for balance transfers and 12 months at 0% for purchases (then 14.74% - 24.74% (Variable)), 5%, $5 minimum transfer fee, no rewards
- Citi® Diamond Preferred® Card (Review): 0% APR for purchases for 12 months, 0% APR for balance transfers for 21 months (then a regular rate of 13.74% - 23.74% (Variable))
Instead, this card’s specialty is paying off large balances over time. It has a 0% intro APR for balance transfers for 21 months, and a 0% intro APR for 12 months for purchases. After that you’ll get a regular rate of 14.74% - 24.74% (Variable).
You’ll pay a balance transfer fee with the Simplicity, unlike the Slate’s $0 fee (as long as you use the Slate’s offer within the first 60 days). The Simplicity card also allows you to use its offer for 4 months after opening the account.
The Simplicity has no penalty APR, like the Slate, and it also has no late fees.
Other than that, there’s not much to compare between the cards. The main differences are that the Simplicity has a slightly longer introductory period, but it also has a higher transfer fee.
Like the other options here, this credit card offers an intro period for both purchases and balance transfers: Purchases get 0% APR for 12 months; balance transfers get 0% APR for 21 months. After those rates, the regular rate of 13.74% - 23.74% (Variable) kicks in.
You’ll pay a transfer fee with the Diamond Preferred, but you’ll also have four months after opening your account to take advantage of the Diamond Preferred’s balance transfer offer, compared to just 60 days with the Slate.
The Chase Slate offers helpful travel perks the Diamond Preferred lacks, but the Diamond Preferred comes with the Citi Private Pass service, which is a moderately useful benefit that provides presale and VIP tickets to various live events.
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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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