*Editorial Note: This content is not provided or commissioned by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.
This post contains references to products from one or more of our advertisers. We may receive compensation when you click on product links. For more information, please see our Advertiser Disclosure
The Chase Slate credit card has long been a top pick of plastic out of all Chase credit cards and competing balance transfer credit cards. The trifold combination of no annual fee, 15 months with 0% APR, and no balance transfer fee for the first 60 days has proven to be a winning formula that sets Chase Slate® above the rest.
This past month, Chase made this card even more appealing by adding a number of new features to help cardholders monitor and improve their financial health. As an outward display of the newly added card benefits, the Chase Slate also has a bold new look to it; a well-deserved makeover for the long standing king of balance transfer credit cards.
More Than a Number
Over the past few years, you may have noticed that more and more credit card issuers are offering some form of free credit monitoring with card membership. Barclaycard was the first major issuer to pioneer offering a free FICO credit score to their cardholders back in November of 2013, and competitors like Discover and Capital One were quick to follow suit with their own versions of this attractive feature.
A recent survey from the 2015 Chase Slate Credit Survey found:
- Roughly two out of five Americans don’t know their credit score
- More than half don’t know that paying bills on time is the primary driver of a credit score
- Two-thirds say they’d like to be able to improve their score in the next year
- Americans who have checked their credit score consider a “good” score to be 51 points higher than those who have never checked (719 vs. 668).
Consumers need to check their score and know what’s driving it if they're going to reach their credit potential and manage their credit health with confidence. While Barclaycard and Discover cardholders get their credit score, and a brief list of factors affecting it, Chase Slate customers get to see much more than just a three digit number. Through the recently introduced Credit Dashboard, Chase Slate cardmembers have access to their FICO® Score for free, as well as the reasons behind the score, a summary view of the cardmember’s credit bureau report, and helpful suggestions to manage credit health.
Overall, the new credit score dashboard for Chase Slate has raised the bar for credit card issuers that provide free credit scores.
A Holistic Approach to Financial Health
While the free credit score feature is certainly the highlight of the recent update, it’s only the most recent piece in a much larger set of features offered that takes a more holistic approach to the consumer’s financial health. Over five years ago, Chase released its innovative Blueprint feature that helped cardholders better manage their finances by tracking their spending and setting up repayment plans to minimize interest charges. Blueprint is now a time-tested, industry leading credit card feature that has proven to be an invaluable resource for those trying to get on the road to financial stability. In addition, Chase Slate customers will no longer see their interest rate rise (APR) if they pay late for any reason. Understanding that life gets busy, Chase does not want customers to be worried about their interest rate increasing if they happen to pay late.
The Credit Score Dashboard, Blueprint spending and borrowing management tools, and now No Penalty APR are key features that are designed to help Chase Slate customers maintain solid credit and financial health. In addition, Chase Slate offers a 0% introductory APR on purchases and balance transfers for 15 months from account opening and charges no balance transfer fee for transfers made within the first 60 days. The ongoing APR is 15.74% - 24.49% Variable.
No APR Increases
Many banks have what's called a penalty APR, which can be instated if the cardholder fails to make on-time payments or the account ends up in a delinquent status from failure to pay for 30, 60, or 90 days or more. Chase will no longer be raising the APR for Chase Slate cardholders who pay late for any reason. The company understands that mistakes can happen and they don't want their customers worrying about their interest rate increasing.
A Bold New Look
What better way to top off the addition of some awesome new features than with a sleek new card design. As you might have noticed, the card design has gone from the rare vertical layout to the traditional horizontal format and has also taken on a darker, more empowering look. Chase was very purposeful with the re-launch of their flagship balance transfer card, conducting extensive market research to find out how consumers would react to the new card art. The bold new facelift for the Chase Slate was designed to communicate that this credit card is for those who are looking to control their finances, instead of letting their finances control them. If that statement describes you, then it’s time for you to take another look at the Chase Slate®.
* Editorial Note: This content is not provided or commissioned by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.
*The content in this article is accurate at the publishing date, and may be subject to changes per the card issuer.