Best Balance Transfer Credit Card is the Chase Slate

Updated on May 25, 2017

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What is the Best Balance Transfer Credit Card?

Balance transfers can be a very useful tool for people who are paying a steep interest rate with their current credit card. By transferring your credit card balance to another card with a long intro period with 0% APR you’ll be able to pay down your debt much faster because during that intro period, every penny of your payments will be going towards the principle of your balance instead of throwing money out the window with interest. The best balance transfer credit cards will have no interest for well over a year, and as few fees as possible.

So which card is the best for balance transfers? After comparing all of the options, Chase Slate rises to the top of the pack. Here’s why:

No Transfer Fee for the Win

Chase Slate® is one of the only credit cards on the market to offer the perfect combination of the three most important factors for a balance transfer. This card has no annual fee and a long intro APR period for purchases and balance transfers, but what really makes it stand out is the fact that there is no intro balance transfer fee for transfers made within the first 60 days of account opening. While there are a number of credit cards that have two of those three factors, Chase Slate is the only option that offers the unique trinity of perks that could save consumers thousands of dollars.

The intro APR is 0% on purchases and balance transfers for 15 months, giving consumers well over a year to pay down their balance totally interest free.  The ongoing APR is 15.74% - 24.49% Variable. While there are a few cards that have intro periods longer than the Chase Slate, they all charge at least 3% for the balance transfer fee. A 3% balance transfer fee can add up really quickly if you have a large balance, and it can offset a big portion of the money you would save with a card offering a longer intro period of interest-free payments.

You Don’t Need Perfect Credit for Approval

Typically, the credit cards with the best fee schedule and rewards program require excellent credit to get approved. And in most cases, consumers who are in need of a balance transfer don’t have a pristine credit score and cannot get approved for the cards they need. Chase Slate, however, is generally more lenient in terms of approvals compared to its competitors in the balance transfer space.  So even if your credit score is in the mid 600’s you’ve still got a decent shot of getting approved.

How Do Other Cards Stack Up?

Citi Simplicity® Card - No Late Fees Ever - This card currently offers the longest intro APR with no interest for 21 months. While this intro period is six months longer than Chase Slate offers, you’ll be charged a 3% balance transfer fee. There is no annual fee for the Citi Simplicity® Card, but you need excellent to good credit to get approved, which means it won't be a viable option for some consumers who need it the most. Also check out Citi® Diamond Preferred® Card, which also offers 21 months of 0% intro APR on both purchases and balance transfers.

BankAmericard® Credit Card - By offering 0% Intro APR for 15 billing cycles, this card is neck and neck with the Chase Slate for the intro APR time period. Another benefit this card has is that cardholders have the chance to get approved for a lower on-going APR of 12.74% - 22.74% Variable APR. This card also shines because of it's $0 Intro balance transfer fee for the first 60 days your account is open. After that, the fee for future balance transfers is 3% (min. $10).

Capital One® QuicksilverOne® Cash Rewards Credit Card - This card is one of the select few cards, other than Chase Slate, that has no balance transfer fee. You only need fair credit to get approved, so it may be available for consumers who can't get approved for better offers. The downsides are that there is no intro APR and it comes with a $39 annual fee, and the on-going APR is painfully high at 24.99% (Variable).

Here is a side-by-side comparison that highlights all the important details you want to consider for a balance transfer:


Chase Slate

Citi Simplicity - No Late Fees Ever

BankAmericard Credit Card

Capital One QuicksilverOne

Intro APR:

0% APR for 15 months

0% APR for 21 months 0% Intro APR for 15 billing cycles


Transfer Fee:

$0 Intro for first 60 days*

3% $0 Intro balance transfer fee for the first 60 days your account is open. After that, the fee for future balance transfers is 3% (min. $10)


Annual Fee:


None None


Credit Needed:


Excellent/Good Good/Excellent


Ongoing APR:

15.49% - 24.24% Variable

14.24% - 24.24% (variable) 12.74% - 22.74% Variable APR

24.99% (Variable)

The Bottom Line

As you can see from the above summation, Chase Slate has all the features you would want in a balance transfer credit card. While many credit cards carry one or two of the important balance transfer features, Chase Slate is the only card on the market that has the winning combination of no annual fee, no balance transfer fee, and a long 0% intro APR. If you're paying a steep interest rate with your current credit card, do yourself a favor and transfer your balance to the Chase Slate and start saving money! Or, take matters into your own hands and compare your options with these tips for comparing balance transfers.

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