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Chase Slate® Review – 0% Intro APR for 15 Months

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At a Glance
chase slate credit card
4.2 / 5
Rating

Chase Slate®

  • Sign-up Bonus: None
  • Rewards: None
  • Benefits: Free access to FICO® credit score
  • Intro APR: 0% for 15 months on purchases and balance transfers
  • Regular APR: 16.49% to 25.24% Variable (purchases and balance transfers); No penalty APR for paying late
  • Intro Balance Transfer: $0 balance transfer fee for transfers made within first 60 days (after that, 5% or $5 minimum)
  • Annual Fee: $0
  • Credit Needed: Excellent/Good

Advertiser Disclosure: This post includes references to offers from our partners. We receive compensation when you click on links to those products. However, the opinions expressed here are ours alone and at no time has the editorial content been provided, reviewed, or approved by any issuer.

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Chase Slate® isn’t the most exciting credit card out there. One might even call it boring. Unlike travel rewards credit cards and cash back credit cards, Slate® doesn’t offer any points, miles, or cash back. If you’re intent on racking up points or miles to fund your next vacation or big-ticket purchase, this definitely isn’t the card for you.

However, what Chase Slate® does offer – and what makes it such a popular choice for thrifty credit card users – is a relatively low APR: 16.49% to 25.24%, variable depending on your creditworthiness and prevailing rates, for purchases and balance transfers. It also has a long 0% APR introductory period: 15 months for purchases and balance transfers. And it doesn’t charge balance transfer fees on transfers made within 60 days from your account opening date. After that, the fee for future transactions is 5% of the amount transferred, with a $5 minimum.

These features make Slate® a great choice for people who occasionally carry balances, struggle with high-interest debt on existing credit card accounts, and simply dislike annual fees and high interest rates. As long as you use your card responsibly and make your payments on time, Slate® is also great for building and improving your credit history.

Key Features

Introductory APR Promotion

Chase Slate® comes with a long introductory APR promotion for balance transfers and purchases: 0% APR on both for 15 months following account opening. The 0% balance transfer rate applies to transfers made at any time during the 15-month window.

No Balance Transfer Fees for 60 Days

Slate’s balance transfer promotion gets better. In addition to the 0% APR for 15 months, Slate® waives balance transfer fees on transfers made within 60 days of account opening. After that, the fee for future transactions is 5% of the amount transferred, with a minimum of $5.

FICO® Score and Credit Dashboard

As a Slate® cardholder, you’re entitled to a free monthly FICO® credit score through your Slate® online account. You also get access to Chase’s Credit Dashboard, which has useful information on the factors that contribute to your score, a summary of your credit report, and general information about credit-building and management.

Real-Time Fraud Monitoring

Chase has a real-time fraud monitoring system designed to detect unusual transactions or activity patterns in your account. If it finds anything suspicious, it sends automatic text and/or email alerts to prompt further action on your end.

Regular APR

After the introductory purchase and balance transfer APR periods end, both come with variable APRs between 16.49% and 25.24% variable. The exact APR depends on your creditworthiness and prevailing interest rates. There’s no penalty APR.

Important Fees

Slate® does not have an annual fee. Balance transfers cost the greater of $5 or 5% of the transferred amount, once the 60-day fee-free period ends. Cash advances always cost the greater of $10 or 5%.

Credit Required

Chase Slate® requires good to excellent credit. If you have a few minor credit blemishes, it’s possible that you’ll be approved. However, major blemishes are likely disqualifying.

Advantages

  1. No Annual Fee. Slate® doesn’t charge an annual fee – a big perk for thrifty card users.
  2. No Penalty APR. Slate® doesn’t come with a penalty APR, which is great for balance-carriers who accidentally miss payment due dates. BankAmericard Better Balance Rewards and Citi Diamond Preferred both carry penalty APRs up to 29.99%, imposed indefinitely.
  3. Generous Balance Transfer Promo Window. Slate’s 0% introductory APR balance transfer promo applies to transfers made at any time during the 15-month intro period. Most other balance transfer promos require you to make transfers within the first few months to capture the 0% APR deal for the entire promotion window. For instance, Citi Simplicity‘s 21-month 0% APR applies only to transfers made within 4 months of account opening.
  4. Fee-Free Balance Transfers for 60 Days. For the first 60 days your Chase Slate® account is open, you’re free to make balance transfers without incurring the usual fee (the greater of $5 or 5% of the transferred amount). Citi Simplicity and Capital One Quicksilver, both of which have long introductory 0% APR balance transfer promotions, charge balance transfer fees (both the greater of $5 or 3%) from day one.
  5. Free Monthly FICO® Score. Slate’s free monthly FICO® score and credit reporting dashboard are useful for anyone looking to build credit or learn more about credit management. Citi Simplicity doesn’t have any comparable features.

Disadvantages

  1. No Rewards or Cash Back. Slate® offers no travel or cash back rewards, nor any other types of rewards. That’s a significant disadvantage relative to some other cards with reasonable APRs and fees, such as Discover it (up to 5% cash back in select categories) and Discover it Chrome (up to 2% cash back in select categories).
  2. Not the Longest Intro Purchase APR Period. Some Slate® competitors, such as the Citi Diamond Preferred (21 months), have longer 0% purchase APR promotions.
  3. No Sign-up Bonus. Slate® doesn’t offer a sign-up bonus. Sign-up bonuses aren’t super common among Slate’s competitors, but some do have nice offers.
  4. 3% Foreign Transaction Fee. Chase Slate® adds 3% to all foreign transactions – a bummer for out-of-country travelers. Citi Simplicity and Capital One Quicksilver both lack foreign transaction fees.
  5. Few Value-Added Perks. As a no-frills credit card, it’s not shocking that Slate® has few value-added perks. Aside from the monthly FICO® score and dashboard, there’s really nothing to write home about on this front. By contrast, Citi Simplicity – a direct competitor no-frills card – offers Citi Price Rewind, which refunds the difference (up to $300, within 60 days) if it finds a lower price on an item purchased with the card.

Final Word

It’s easy to knock Chase Slate® for being boring because, well, it is. Like competing cards such as Citi Simplicity, Slate® is a useful, no-frills product with reasonable interest rates, nice introductory promotions, a no-nonsense fee structure, and a great balance transfer promotion (including a 60-day fee-free balance transfer period – a huge, and not very common, benefit). It doesn’t bother with cash back rewards, travel rewards, or excessive value-added perks. What you see is what you get.

“What you see is what you get” is fine – preferable, actually – for cardholders who occasionally carry monthly balances or credit card novices looking to build and improve credit. For those who like their card issuers to reward them for their business, there are always travel rewards cards such as Chase Sapphire Preferred or Capital One Venture Rewards, and cash back cards such as Discover it or Chase Freedom.

Verdict
chase slate credit card
4.2 / 5
Rating

Chase Slate®

Chase Slate® is a no-frills credit card that’s ideal for users looking to transfer high-interest balances from other cards or take advantage of a long 0% purchase APR window to finance big-ticket purchases (such as home improvement projects) at a low cost. Though it’s not designed for applicants with fair or poor credit, Slate® is also useful for folks looking to improve their credit, and for those who don’t like annual fees. If you enjoy rewards, cash back, or lots of value-added perks, this isn’t the card for you.

Reasonable APRs, no annual fees, generous balance transfer promotions (including no fee for transfers made within 60 days of account opening), and credit-building tools are all great. Drawbacks include no rewards, no sign-up bonus, foreign transaction fees, and few perks. Overall, this is a solid no-frills credit card for laid-back cardholders.

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Brian Martucci
Brian Martucci writes about credit cards, banking, insurance, travel, and more. When he's not investigating time- and money-saving strategies for Money Crashers readers, you can find him exploring his favorite trails or sampling a new cuisine. Reach him on Twitter @Brian_Martucci.

Comments Disclosure: The below responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

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