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|Apply Now||Apply Now|
|Rewards Rate Details||Non-rewards card||Enjoy new 5% categories every 3 months. Unlimited 1% cash back on all other purchases.|
|Sign Up Bonus||No bonus||Earn a $150 Bonus after spending $500 on purchases in your first 3 months from account opening.|
|Best For||Transferring a credit card balance completely fee-free.||Earning 5% cash back on purchases in popular rotating categories.|
|Balance Transfer Intro Rate||0% Intro APR on Balance Transfers for 15 months||0% Intro APR on Balance Transfers for 15 months|
|Balance Transfer Fee||Intro $0 on transfers made within 60 days of account opening. After that: Either $5 or 5%, whichever is greater.||Either $5 or 5% of the amount of each transfer, whichever is greater|
|Card Details||Chase Slate® Credit Card Details||Chase Freedom® Credit Card Details|
CompareCards: Chase Slate vs Chase Freedom Showdown
This matchup is between the same issuer, but completely different credit cards. The Chase Slate focuses on helping people get out of debt, but doesn’t offer rewards. The Chase Freedom focuses on giving people cash back along with a generous sign-up offer. These are best for two different types of people, but are equally very good credit cards.
If you are in high-interest debt and looking to avoid paying unnecessary interest fees at a double digit APR, consider the Chase Slate. If you have a low amount of debt, and are looking for a great cash rewards credit card, highly consider the Chase Freedom. Both of these cards are winners here, but lets break down the matchup to help you decide which is best for you.
Chase Slate’s 60 day waiver for balance transfer fee’s vs Chase Freedom’s $150 when you spend $500 sign up bonus.
CompareCards Verdict: If you have under $1,805 in debt you can consider getting the Chase Freedom card, if you have over $1,805 in debt the Chase Slate Card might help you save more money in the long run than the Chase Freedom Card.
Matchup: Chase Slate vs Freedom
Chase Slate's Balance Transfer Fee vs Chase Freedom's Balance Transfer Fee
Balance Transfer Waiver vs Sign up Bonus
Balance Transfer Waiver vs 5% Category Rewards
The Math Breakdown: Chase Slate’s Balance Transfer Waiver vs Chase Freedom’s $150 sign up bonus
This of course has to have certain situations going for it, but an example would be if you have good credit and are interested in a cash back card, but you ran into a little bit of debt that you don’t want to pay interest on. So let’s find the breaking point.
Chase Freedom’s sign up bonus requires you spend $500 in the first three months (which is a great offer already) to get $150. We’ll ignore the $500 cost since that can be attained through normal purchase habits for 3 months. Chase Slate offers a balance transfer fee waiver for the first 60 days that can save you interest costs from another card. So the breaking point is when the Chase Slate Credit Card can help you save $150 in interest. We will assume the following:
Using our credit card payoff calculator, if we have a 15% APR, and want to pay it off in 12 months you would need a debt of exactly $1,805 in order to equal paying $150 in interest.
That means that if you have under $1,805 debt you can consider getting the Chase Freedom card, if you have over $1,805 in debt the Chase Slate Card might help you save more money in the long run than the Chase Freedom Card.
Which Chase Credit Card is Better?
These cards are both very different so it’s difficult to judge. If you are basing it off of each card’s unique features like the sign up bonus or the balance transfer fee waiver. Then you have a breaking point of $1,805. Other than that the Chase Freedom’s 5% category reward system is one of the more competitive ones in the market and worth a look if you don’t have much debt.
However if you do have credit card debt, especially at a high interest rate and more than $1,805 then the Chase Slate is something to consider. In the end, the Chase Slate offers such a unique and helpful offer compared to the Chase Freedom which is more general and has more competitors doing similar things like the Discover It. The shocking winner of the two? The Chase Slate.
Which card did you choose? If you have your comparisons we'd love to hear them. Comment below and share your experiences.
CompareCards: Chase Slate Credit Card Quick Review
The Chase Slate Card is a top choice for at CompareCards, but not for cash back rewards or miles. Actually, it doesn’t have any rewards. Now don’t exit and overlook this credit card, especially if you have debt.
The Chase Slate’s best and most underrated feature is it’s ability to help users pay off credit card debt, which is something anyone that has any type of credit card debt should think about applying for.
If you’re a college student, grad student, or someone that has a high interest credit card debt this is the card for you. For example, if you hit unexpected debt like necessary house repairs, card accident or any surprise bills this card will save you hundreds in credit card fees.
It’s 3% balance transfer fee is waived if you move your debt onto it within 60 days of opening your account. This is the best feature of the card. If you move 10,000 in hospital bills, car bills or house bills you already save $300 in credit card fees on any other card besides the Chase Slate Credit Card.
It also offers 0% Introductory APR for 15 months! which is over a year you have to pay off your debt completely interested free!
On top of all of that, there is no annual fee.
All of this wrapped together molds this card into a very useful card, with its unique reward system not being rewards at all, but instead rewarding you with saving money while you pay off your debt.
Chase Slate Customers are also provided with a free FICO score as of 2015.
Pros of the Chase Slate Card
Cons of the Chase Slate Card
What’s the Best Way to Use the Chase Slate Card?
The Chase Slate Card is best used for people with unexpected credit card debt. If you use a LINKDiscover It Credit Card and recently ran into an multiple unexpected bills like $3,500 for a car accident, $5,000 for hospital bills and a $1,500 deductible - that’s $10,000 on your Discover It Card that you weren’t expecting. If your variable APR is 15% you will have to pay over $900 per month to pay it off with 12 months. In that 12 months you will have paid roughly $830 in interest costs.
The target dollar amount is the $830 in interest you want to avoid. This is where the Chase Slate Card shines. If you apply and get approved for the Chase Slate Card after incurring that debt. you can transfer your $10,000 credit for free during the first 60 days of having the card. After that you have a 0% APR for 15 months on balance transfers, meaning you have over a year to pay off the $10,000.
Paying off $10,000 over the course of 15 months are payments of just over $650. That’s $250 less than if you paid it off through your Discover It Card, and you’re interest free, saving you a little over $830!
Is the Chase Slate Card for You?
If you have any type of high interest credit like the example stated above, this credit is definitely one that should grab your attention. Unless your debt is over $15,000 or all of your debt is under a Chase account already, this card ranks as one of our top credit cards. Stop paying high-interest rates and start clearing out your debt by applying for this card today.
CompareCards: Chase Freedom Visa Credit Card Quick Review
The Chase Freedom is one of the best cash back rewards credit cards, and at CompareCards.com, it ranks as one of our favorites. It’s a great starter card for new cash back reward newbies and credit card veterans that are looking to start earning rewards at a generous rate.
The best part about this card is the sign up bonus of $150 when you spend $500 on purchases within your first thing months, on top of a 5% cash back reward on quarterly rotating categories. The categories include a lot of different options like gas, department stores, Amazon, groceries etc.
This card is great for really anyone that enjoys cash rewards as a part of their credit card repertoire. It should be one a card that people who shop online, commute, purchase a lot of groceries or enjoy retail shopping.
There are so many different rotating categories it fits just about anyone’s needs. With the signup bonus of $150 when you spend just $500 in 3 months, which the average household hits in just gas and grocery costs, is the cherry on top of an already fantastic credit card.
With it’s no annual fee is great for anyone that is old enough to apply for their own credit card, like college students, recent graduates, part-time and full-time workers all the way to up veterans, and retired people. It’s a great fit anyway you look at it and should be considered a top use credit card.
Pros of the Chase Freedom Card
Cons of the Chase Freedom Card
What’s the Best Way to Use the Chase Freedom Card?
The best way to use the Chase Freedom Card is to use it on general purchase for the first 3 months to ensure you hit the $500 mark and collect your $150 sign up bonus. While it does have a 1% cash back for all purchases, waiting for purchase some items you are interested in is a great way to take full advantage of this credit card.
For example, let’s say the quarterly categories are as follows: Q1 - Grocery stores, Q2 - Restaurants, Q3 - Gas stations/department stores, Q4 - Amazon. Using it at grocery stores and restaurants for up to $1,500 would max out the amount of 5% rewards you can get, and doing your holiday shopping on Amazon during Q4 would top off the year. Easy enough right?
What is the Chase Ultimate Rewards Site?
It is an online store that gives up to 10% cash back on your online purchases. There are big name stores like Macy’s, Home Depot and Sears that offer more than the current 1% back, and can be used even outside of the chosen 5% back categories for that quarter.
How do You Redeem Your Chase Freedom Rewards?
The Chase Freedom Card provides an easy way to redeem your rewards. You can redeem points for cash, gift cards, products and travel. All you have to do is login to your Chase Ultimate Rewards account, click redeem rewards and choose how you want to redeem them. Usually it’s best to redeem it for statement credit, so you can literally pay off some of your credit card by utilizing the 5% cash back rewards provided.
Is the Chase Freedom Card for You?
In a general sense, it’s for everyone. For a cash back credit card that offers 5% rewards for a lot of different categories - it’s easy to incorporate into your credit card usage. The $150 signup bonus is also great and if you refer a friend you can make an extra $25 in points. This card is one of CompareCards favorites, but we would like to hear your opinion. Comment below to hear your opinions about this card.
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