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This article was last updated Jul 05, 2019. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.
The information related to the Chase Slate® has been collected by CompareCards and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply to Chase credit card offers. See chase.com for more information.
Sometimes you don’t need travel rewards or cash back — you just need a credit card with no frills and a good balance transfer offer so you can pay down high-interest debt. That’s the Chase Slate® in a nutshell.
The best thing about this card is its introductory balance transfer deal: 0% Intro APR on Balance Transfers for 15 months. If you have a plan to pay down your balance and stick to it, the Chase Slate® could help you avoid having to pay anything extra in balance transfer fees or interest.
It’s worth emphasizing that for balance transfer cards to be of maximum value, the responsibility falls on cardholders. It’s important to do the math and commit to making a monthly payment that will allow you to pay off your debt within the 0% promotional time frame. To help you plan, take a look at our article on common balance transfer mistakes and how to avoid them.
That said, let’s break down the details of what the Chase Slate® has to offer.
Where the Chase Slate® stands out
No balance transfer fee. Intro $0 on transfers made within 60 days of account opening. After that: Either $5 or 5%, whichever is greater.
To illustrate how much this offer is worth, consider the following: If you transfer $1,000 to the Chase Slate® within the allotted promotional time frame, you’ll avoid paying the 5% transfer fee and save $50. If you transfer $5,000, you’ll save $250.
Learn more about How to Do a Balance Transfer with Chase.
0% Intro APR on Balance Transfers for 15 months. After the 0% Intro APR on Balance Transfers for 15 months expires, your APR will jump to 17.24% - 25.99% Variable.
No annual fee. An annual fee of $0 pairs nicely with a card aimed at folks who are trying to pay down debt.
Additional Chase Slate® benefits
- Free Credit Score access via the Credit Journey service (which you can sign up for even if you’re not a Chase customer). It should be noted that this is a VantageScore 3.0 score, rather than the more commonly used FICO score, however.
- Fraud protection and fraud alerts.
- Purchase protection.
Where the Chase Slate® falls short
Non-rewards card. If you’re in the market for a balance transfer card, rewards might not be the first thing on your mind. The Chase Slate® is good at what it does, which is being a no-frills card with a good deal on balance transfers. But after you’re done transferring your balance and paying it down, the card’s usefulness becomes limited.
There are longer 0% balance transfer deals out there. Let’s be clear, a 0% Intro APR on Balance Transfers for 15 months is not a bad deal. However, there are a few cards out there offering even longer intro periods. If you do the math and it looks like you’re going to need more time to pay off your balance, it might be worth considering a card other than the Chase Slate®.
Two such cards include the Discover it® Balance Transfer, offering 0% for 18 months (after 13.49% - 24.49% Variable), and the Citi Simplicity® Card - No Late Fees Ever, 0% for 21 months on Balance Transfers (after 16.24% - 26.24% (Variable)).
0% for 18 months on balance transfers & 0% for 6 months on purchases*
Earn 5% cash back at different places each quarter up to the quarterly maximum, when you activate*
13.49% - 24.49% Variable*
- INTRO OFFER: Discover will match ALL the cash back you've earned at the end of your first year, automatically. There's no signing up. And no limit to how much is matched.
- Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate. Plus, earn unlimited 1% cash back on all other purchases - automatically.
- Redeem cash back any amount, any time. Rewards never expire.
- 100% U.S. based customer service.
- Get your free Credit Scorecard with your FICO® Credit Score, number of recent inquiries and more.
- Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
- No annual fee.
- See Rates & Fees
See additional details for Discover it® Balance Transfer
0% for 12 months on Purchases
0% for 21 months on Balance Transfers
16.24% - 26.24% (Variable)
- No Late Fees, No Penalty Rate, and No Annual Fee... Ever
- 0% Intro APR on balance transfers for 21 months from date of first transfer. All transfers must be completed in first 4 months. After that, the variable APR will be 16.24% - 26.24%, based on your creditworthiness.
- 0% Intro APR on purchases for 12 months from date of account opening. After that, the variable APR will be 16.24% - 26.24%, based on your creditworthiness.
- If you transfer a balance with this offer, after your 0% Intro purchase APR expires, both new purchases and unpaid purchase balances will automatically accrue interest until all balances, including your transferred balances, are paid in full
- The standard variable APR for Citi Flex Plan is 16.24% - 26.24%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.
- Stay protected with Citi® Quick Lock and $0 liability on unauthorized charges
See additional details for Citi Simplicity® Card - No Late Fees Ever
But always pay attention to whether competing cards charge balance transfer fees. Oftentimes, paying interest for a few months might turn out to be cheaper than paying a transfer fee.
Here’s an example, using the CompareCards.com balance transfer calculator:
- Let’s say that you have a card offering 0% APR for 15 months and a $0 transfer fee. If you transferred $5,000 to that card and made payments of $300 a month, it would take 17 months to pay off the balance. If the APR increased to 18% after the intro period, the interest cost would be $10.61 by the time the balance was paid off.
- Now let’s say that you have a card offering 0% APR for a longer time period — 18 months — but it comes with a 3% balance transfer fee. If you transferred $5,000 to that card, the transfer fee would be $150. With payments of $300 a month, you could pay it off in 17 months and avoid interest.
It’s simple math — $10.61 paid in interest is a better deal than $150 as a balance a transfer fee.
If for some reason the Chase Slate® doesn’t meet your needs, check out this list of credit cards that we think offer competitive deals on balance transfers.
Comparing the Chase Slate® with The Amex EveryDay® Credit Card from American Express
The Amex EveryDay® Credit Card from American Express offers a $0 balance transfer fee. It also offers an introductory balance transfer APR of 0% for 15 Months (after 14.99% - 25.99% Variable). In these respects, it’s a similar deal to the Chase Slate®.
Where it exceeds the Chase Slate® is in having a rewards program as well. With The Amex EveryDay® Credit Card from American Express, you can earn the following: 2x points at US supermarkets, on up to $6,000 per year in purchases (then 1x), 1x points on other purchases.
These membership points can be redeemed in a variety of ways, including online shopping at merchant partners, booking travel through American Express Travel, or redeeming them for gift cards. Their value varies depending on how you choose to redeem them, but options shown on the American Express website tend to range from 0.5¢ per point to 1¢ per point.
However, it is worth noting that the Chase Slate® is a Visa — and Visa and Mastercard credit cards tend to be more widely accepted in the United States than American Express cards.
Neither card excels in the area of foreign transaction fees. For the Chase Slate®, it’s 3% of each transaction in U.S. dollars. For The Amex EveryDay® Credit Card from American Express, it’s 2.7% of each transaction after conversion to US dollars.
|Chase Slate®||The Amex EveryDay® Credit Card from American Express|
|Regular purchase APR||17.24% - 25.99% Variable||14.99% - 25.99% Variable|
|Rewards||Non-rewards card||2x points at US supermarkets, on up to $6,000 per year in purchases (then 1x), 1x points on other purchases.|
|Welcome Offer||No bonus||10,000 Membership Rewards® points after you use your new Card to make $1,000 in purchases in your first 3 months.|
|Foreign transaction fee||3% of each transaction in U.S. dollars.||2.7% of each transaction after conversion to US dollars.|
The information related to The Amex EveryDay® Credit Card from American Express has been collected by CompareCards and has not been reviewed or provided by the issuer of this card prior to publication.
The bottom line
Any way you look at it, the Chase Slate® is a solid offer for folks looking for a balance transfer deal. If your goal is to get out of debt and pay as little as possible, this card is worth considering. While there are cards out there that might offer a longer 0% period before the regular APR kicks in, those cards often charge a balance transfer fee. So when you weigh the cost of interest against a transfer fee, the Chase Slate® might end up saving you money, even if you can’t pay off the balance entirely before the intro period ends.
Still, The Amex EveryDay® Credit Card from American Express is a worthy competitor. It beats the Chase Slate® in long-term value by offering a decent rewards program, meaning it could be worth using after the transfer is paid off.
Finally, it’s important to remember that whatever balance transfer card you get, the credit limit might not be high enough to take on all of your existing credit card debt. In that case, consider these five options for when a balance transfer credit limit isn’t enough to pay off your debt.