Many people carry credit card debt on interest-bearing credit cards that can make it hard to pay off balances, but there's a way you can save on repayment: transfer your debt to a balance transfer credit card with no transfer fee.
The Chase Slate® can temporarily eliminate interest charges for just under two years, allowing you to pay off credit card debt faster (and cheaper) than if you left it on your current card.
Below, Select reviews the Chase Slate's intro APR offer, fees, credit score requirements and more so you can decide if it's the right card for you.
The Chase Slate® is a great intro-APR card if you want to save on interest, but it doesn't earn rewards.
- Long intro APR for purchases and balance transfers
- No annual fee
- Basic shopping protections
- No rewards
- Has a foreign transaction fee
Chase Slate review
Intro APR
The Chase Slate offers a 21-month 0% intro APR on purchases and balance transfers, followed by an 18.24% to 28.24% variable APR. A balance transfer fee of $5 or 5% of the amount of each transfer applies, whichever is greater.
For example, if you have $5,000 in credit card debt to pay off, your total balance after transferring to the Chase Slate would be $5,250. That's a $250 payment every month for 21 months to pay off your debt before interest kicks in.
Fees
The Chase Slate is a no-annual-fee card that can help you get out of debt, but you won't want to use this card abroad. There is a 3% foreign transaction fee, so you should consider alternative cards when traveling outside the U.S.
Credit score requirements
Similar to most balance transfer cards, the Chase Slate requires good credit or excellent credit (or a FICO Score of 670 or greater). Keep in mind, even if your credit score falls within the good or excellent range, there is no guarantee you'll be approved for the Chase Slate. Card issuers look at more factors than just your credit score, including income and monthly rent or mortgage payments.
Is the Chase Slate worth it?
While the Chase Slate doesn't offer a rewards program, you can benefit from one of the most competitive balance transfer offers around.
If you want to benefit from a 0% APR card that also offers rewards, consider the Citi Double Cash® Card. This card offers a 0% intro APR for the first 18 months on balance transfers (after, 18.49% - 28.74% variable APR, based on your creditworthiness). There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Plus, cardholders earn 2% back on every purchase: 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
What makes the Citi Double Cash® Card special is that it sits near the top of its class in several categories. It is an excellent option if you want flat-rate rewards, a balance transfer intro-APR or no annual fee.
- Balance transfers get a long intro APR
- Generous flat-rate cash-back rewards structure
- Earns transferable rewards
- No annual fee
- It has a foreign transaction fee
- Intro APR only applies to balance transfer
- Points transfer ratios are reduced compared to premium cards
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, earn 5% total cash back on hotel, car rentals and attractions booked with Citi Travel.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 18.49% - 28.74%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Balance transfer fee
There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.
Foreign transaction fee
3%
And if you also want to finance new purchases, consider the Citi Simplicity® Card, which offers an 18-month 0% intro APR on purchases and balance transfers (17.74% - 28.49% variable APR after).
Balance transfers must be completed within four months of account opening. There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first four months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
The Citi Simplicity® Card has amazing intro-APR offers and is particularly valuable for balance transfers due to its lower introductory fee.
- Long intro APR offers for balance transfers
- Low intro-fee for balance transfers
- No annual fee
- No rewards
- No welcome bonus
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At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
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