Slate Edge® Credit Card
- Best for: People with fair credit who want a no-fee Chase card to rebuild their score
- What Sets It Apart: Automatic credit line reviews every 6 months or sooner; free Chase Credit Journey tools
- Cost: $0 annual fee; 28.99% variable interest rate; 3% foreign transaction fee; 5% balance transfer fee ($5 minimum)
- Features: Credit line increase reviews; Credit Journey score tracking and breach alerts; purchase protection up to $500 per item; 6 months of complimentary DashPass, DoorDash’s delivery membership
- Pros: No annual fee; credit line reviews without asking; free credit monitoring
- Cons: No rewards; no intro rate; 28.99% interest; 3% foreign transaction fee
Get the Slate Edge® Credit Card only if fair credit is keeping you out of better cards and you need a no-fee card to rebuild with. It pays no rewards and charges 28.99% on any balance you carry, so put a few small bills on it, pay in full, and move on once your score climbs.
The Chase Slate Edge® is Chase’s no-annual-fee card for fair credit, which Chase describes as a profile with past challenges or a short history. It comes with a credit line and free credit monitoring, and not much else.
Key Features
- $0 annual fee
- 28.99% variable interest rate on purchases and balance transfers, with no intro rate
- Automatic reviews for a higher credit line every 6 months or sooner
- 3% foreign transaction fee and a 5% balance transfer fee ($5 minimum)
- Free Chase Credit Journey score tracking
Pros
- No annual fee, so the account costs nothing to keep open while your credit history ages
- Automatic credit line reviews, and a higher limit makes any balance a smaller share of your available credit
- Alerts through Chase Credit Journey if your personal information turns up in a data breach or on the dark web
- Purchase protection for 120 days (90 in New York), up to $500 per item, plus a one-year extension on manufacturer warranties of three years or less
- 6 months of DashPass, DoorDash’s delivery membership, at no charge, after which DoorDash charges its monthly fee until you cancel
Cons
- No cash back or points on purchases, apart from targeted merchant offers in the Chase app
- 28.99% interest with no intro period, so by our math, carrying a $1,000 balance costs about $24 a month
- 3% foreign transaction fee, which makes it a poor card to use abroad
- Balance transfers cost 5% and may not be available on your account
Use the Slate Edge to rebuild, with a small balance you pay in full, and once your score improves, add a rewards card and keep this one open. If you’ve never had a credit card, the Chase Freedom Rise® is a better first card than the Slate Edge, since it also has no annual fee and pays 1.5% cash back.
Learn more about the Slate Edge® Credit Card or see how it compares to the best credit cards for bad credit.
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