On the Getchaseslate website, the Chase Slate Card is not presently accessible or taking new applications. The product as it was most recently provided is reviewed here; however, should it become available again in the future, it will be updated with the most recent features, terms, and conditions.
Chase credit cards might have hefty annual fees but are well-known for their travel benefits. A specific income threshold may be assumed by some as the target market for the bank. While it’s not entirely incorrect, it’s also not entirely correct.
One of Chase’s most reasonably priced credit card alternatives is the Chase Slate. It has an introductory APR, no annual charge, and free access to the cardholder’s credit score and an overview of their Experian credit report. That is all. Easy, beneficial, and inexpensive.
The purpose of the Getchaseslate credit card is to draw in customers who want to pay off high-interest credit card debt. For a full year, there are no interest rates on balance transfers. The 0% APR period of 12 months also extends to new purchases. However, the lack of a rewards program limits the card’s long-term and extended utility beyond balance transfers.
Also Read: Getfreedomunlimited com
Examining The Chase Slate EdgeTM Credit Card
With several practical benefits, the Chase Slate EdgeTM* is intended to assist customers in minimizing interest costs. The card provides 0% APR on purchases and debt transfers for the first eighteen months (after 20.49% – 29.24% Variable) and has no annual fee. The card offers a lot of time and flexibility to pay off bills beyond this first offer.
Owners of Chase Slate EdgeTM* credit cards may keep saving on interest by using My Chase Plan. For a set charge, cardholders can use this service to break up large purchases into monthly installments, which can be less expensive than paying interest.
Chase will even reduce your interest rate by 2% if you spend $1,000 or more annually and make your payments on time.
When you make on-time payments and spend $500 within the first six months of opening an account, the Chase Slate EdgeTM * can also help you establish credit more quickly by providing an automated review of your credit limit. Additionally, cardholders have access to internet resources that track their credit score and expenditure.
Pro Of Getchaseslate Edge Credit Card
The Chase Slate Card, like many others, has introductory APR terms but it goes above and beyond the typical 12-month period for both balance transfers and new purchases. You will pay no interest on either for the first 15 months after the account is opened, after which the APR will vary from 14.99% to 23.74% based on your creditworthiness.
During the 0% APR offer, you will have more than a year to pay off high-interest credit card debt or finance a significant purchase without incurring interest charges.
There is no initial balance transfer cost: Balance transfer fees, which are based on a portion of the total amount transferred to a new card, can significantly increase your final cost. One major benefit of the Getchaseslate card over other balance transfer cards is that there is no transfer charge for amounts moved within 60 days of account setup. You will be required to pay 5% of the transferred money, with a $5 minimum charge, once the 60 days have passed.
Let’s take an example where you owed $5,000 on your credit card. Normally, balance transfer costs would amount to $250, or 5% of the account balance, if you moved that amount to the Chase Slate card. However, you would only have to pay $0 if you finished the balance transfer within the first 60 days after creating the account—a significant savings.
No penalty APR: If you use the Getchaseslate card and miss a payment, there won’t be any penalties assessed. This function is a helpful bonus because many credit cards may raise your annual percentage rate (APR) permanently if you miss a payment.
Cons Of Getchaseslate Edge Credit Card
No incentives or one-time deals: There isn’t a bonus or rewards program for the Chase Slate. That’s a significant disadvantage because a lot of other balance transfer cards provide new cardholders with worthwhile incentives and benefits. For instance, you may receive an endless 1.5% cash back on all of your purchases with the Capital One Quicksilver card.
Additionally, if you spend at least $500 during the first three months of creating an account, you’ll receive $150 as a cash incentive. Additionally, you will continue to receive an introductory 15-month 0% APR offer on purchases; after that, the standard APR will vary between 15.49 and 25.49%.
3% international transaction fee: Please be advised that this card incurs a 3% foreign transaction fee each time you purchase outside of the United States if you intend to travel overseas. Over the duration of your vacation, that charge might mount up and cost you hundreds of dollars.
Consider applying for a different credit card, such as the Capital One Quicksilver Rewards Card, which does not impose a foreign transaction fee, if you will be traveling outside of the United States.
Also Read: Aspirecreditcard com
Is It Safe To Apply For The Chase Slate Edge Card?
For those seeking a low-interest credit card without an annual fee, the Chase Slate EdgeTM credit card is a great choice. You may save a lot of money while paying off debt thanks to the 0% initial APR offer on purchases and balance transfers for 18 months (after which it will be variable at 20.49% to 29.24%).
You can also repay purchases over time and reduce your interest rate. Nevertheless, the card is deficient in terms of incentives. If you want to accumulate points and reduce your interest costs, several cards provide both.
If all you want is a card that will help you create credit and connect you with a big bank like Getchaseslate, then this can still be a terrific choice. Chase does, after all, provide some of the top reward credit cards available. You may begin fostering a connection with Chase by establishing a Chase Slate EdgeTM credit card, and you might eventually be accepted for a more advantageous card.
All things considered, if you’re searching for a low-interest credit card without an annual fee, you should give the Chase Slate EdgeTM some thought.
Who Is Best Fit for Chase Slate Credit Card?
It makes financial sense to use the Chase Slate credit card to do a balance transfer if you have high-interest credit card debt. You may pay off your debt without incurring interest costs for nearly a year with no annual fee and 0% APR for 15 months. You won’t be charged a balance transfer fee if you finish the transfer within the first 60 days of creating an account.
In order to put that into perspective, keep in mind that, according to Experian, the average credit card amount in 2019 was $6,028,. According to data from the Federal Reserve, the mean interest rate on all credit card accounts with interest was 17.14%. With a minimum monthly payment of $200 and a 17.14% annual percentage rate credit card debt, you would need to pay off $6,028 in debt over the course of 40 months, accruing $1,912 in interest.
You could pay back your debt in 32 months (the first 15 months at 0% APR and then an additional 17 months at 14.99% APR) if you moved your balance to the Chase Slate card within the first 60 days of opening an account, maintained the same minimum monthly payment, and qualified for 14.99% APR after the promotional offer ended—eight months ahead of schedule. Additionally, you would save $1,562 by paying just $350 in interest as opposed to missing out on the balance transfer opportunity.
But once the promotional APR rate ends, the card doesn’t really provide anything. Once you pay off your high-interest credit card debt, you’d be better off applying for another card as the one you now have offers no rewards or significant perks.
0% First-Time Discounts
The main advantage of Slate is its first balance transfer offer. The Slate Card stands out from other debt transfer credit cards in that it doesn’t charge a balance transfer fee. Chase doesn’t impose a transfer fee if you move money during the first sixty days of opening an account.
This is a noteworthy advantage. A fee of 3% of the transferred amount is typical for balance transfer cards. Some cards charge up to 5%. For every $1,000 transferred to a Slate card, you save $30 to $50 in comparison to comparable cards.
The purchase and balance transfer rates are also subject to the introductory rate. Any amounts that remain after that point will be subject to interest at the standard APR (see below). It’s crucial to remember that.
To Qualify For Getchaseslate Credit Card, What Credit Score Is Required?
For the Chase Slate credit card to be approved, you must have a credit score of at least 700. This indicates that in order to have a high possibility of acceptance, the card needs at least excellent credit.
But it might not be sufficient to get the 700+ credit score required for approval of the Chase Slate. Only those who get an invitation from Chase may apply for the Chase Slate, and there are additional restrictions that must be fulfilled.
Conclusion
Getchaseslate is a great option if you’re wanting to transfer a sizable amount of credit card debt because it provides a 15-month introductory 0% APR offer and charges $0 for balance transfers made within the first 60 days of card membership.
By taking advantage of the introductory terms, you may be able to reduce your debt significantly and save hundreds or even thousands of dollars.
The fifteen months without interest are really competitive. Many credit cards with balance transfers have even shorter introductory periods.
The primary disadvantage is that the Getchaseslate’s competitive advantage disappears when the promotional time ends. It doesn’t have the increasingly popular incentives systems that encourage continuous use.
Also Read: GAP Credit Card Login
