Chase has reintroduced one of its most popular balance transfer credit cards, albeit with a few changes. The Chase Slate® Credit Card was removed from the bank's lineup around the spring of 2020, but it recently returned and is available for application. The Chase Slate card offers a low intro APR for just under two years, which is one of the longest periods available on the market.
A balance transfer card can be a great tool for those struggling with credit card debt, as it gives you some breathing room before you start accruing interest again and lets you pay down your principal directly.
CNBC Select covers what you need to know about the Chase Slate, who should consider applying and alternative 0% intro APR credit cards to consider.
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
What to know about the Chase Slate 0% intro offer
The Chase Slate offers one of the longest 0% intro APR periods on the market, with 21 interest-free months on purchases and balance transfers. When this period ends, a variable APR of 18.24% to 28.24% will apply. Ideally, almost two years will be long enough to pay down most, if not all, of your debt.
To highlight the power of a 0% Intro APR card, let's say you have $10,000 in credit card debt at the average interest rate of 22.30%. Even if you make $500 monthly payments toward that debt, it would still take you 26 months to pay off — and you'd pay $2,619 in total interest in the process.
Instead, you could move that debt to the Chase Slate card. While you'll pay a 5% balance transfer fee ($500), you can make the same $500 monthly payments and pay off your debt in just 21 months with zero interest charges. (Balance transfer fee is either $5 or 5% of the amount of each transfer, whichever is greater.)
The exact amount you'll pay each month depends on how much debt you owe and the corresponding balance transfer fee, but using a balance transfer card like the Chase Slate can often save you hundreds or thousands in interest.
Who is the Chase Slate best for?
The Chase Slate is primarily geared toward those carrying credit card debt and looking to reduce interest charges while paying it down.
This no-annual-fee card doesn't earn rewards or come with many other benefits, but it does have a few perks worth mentioning. As a partner benefit, you can take advantage of a complimentary six-month membership to DoorDash's DashPass when you activate by Dec. 31, 2027. This membership includes $0 delivery fees and lower service fees on eligible orders. Just note that after six months of membership, you'll be automatically enrolled in DashPass at the current monthly rate.
You also get access to a few (fairly typical) protections, like purchase protection, extended warranty protection and auto rental coverage. If you're looking for a credit card that's loaded with statement credits or travel perks, the Chase Slate probably isn't your best option.
Other 0% intro APR cards to consider
If you're interested in a 0% APR card but want a slightly longer debt payoff period, consider the U.S. Bank Shield™ Visa® Card. This card comes with a 0% intro APR for 21 billing cycles (almost two full years), giving you a few additional months compared to the Chase Slate. After the intro period, you'll be charged a 17.24% - 28.24% variable APR.
The U.S. Bank Shield card also carries a $0 annual fee, and you can earn a $20 annual statement credit for 11 consecutive months of purchases. Plus, the card offers cell phone protection of up to $600 when you pay your monthly bill with the card.
The U.S. Bank Shield™ Visa® Card is a rare card that offers rewards (for limited purchases) and best-in-class intro APRs for purchases and balance transfers.
- Best-in-class intro-APR offers for purchases and balance transfers
- No annual fee
- Annual statement credit
- Cell phone protection
- Rewards limited to eligible travel purchases made through the U.S. Bank Rewards Center
- No welcome bonus
- Has a foreign transaction fee
- No intro balance transfer fee
If you're searching for a intro APR card that also earns rewards, the Citi Double Cash® Card earns an unlimited 2% cash back on purchases (1% when you buy and 1% when you pay) and offers a welcome bonus for new cardmembers.
It's worth noting that the 0% intro APR period on balance transfers is a bit shorter at 18 months (18.49% - 28.74% variable APR after). 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. But, this could be a good option if you're dealing with a slightly smaller amount of debt that can be paid off more easily. Plus, the card earns flat-rate rewards that compete with the best cash back credit cards on the market, meaning it'll bring value to your wallet long after your debt is paid off.
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%
FAQs
Is Chase Slate being discontinued?
No, the Chase Slate is not being discontinued. While the card was previously discontinued in 2020, it is now available again for application.
Are Chase Slate and Slate Edge the same?
No, the Chase Slate and Chase Slate Edge℠ are not the same cards. The Chase Slate is a previously discontinued card that has been reintroduced, while the Slate Edge is a separate card that is currently not open to new applicants.
Is the Chase Slate hard to get?
While approval for the Chase Slate will depend on several factors, credit cards that offer a period of 0% interest often require at least a good credit score (or a FICO Score of 670+).
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