The Chase Slate Visa is an OK credit card with one GREAT feature: a 0% interest rate on balance transfers with no transfer fee on balances transferred in the first 60 days of having the card.
This is a big deal: We do not know of any other major bank’s credit card that will give you a no-fee, 0% balance transfer for any length of time, unless you pay an annual fee. (Some smaller banks and credit unions have no fee 0% offers for shorter periods of time.) Not Citibank, not Capital One, not Bank of America, not American Express, no one.
What it means to you: If you have a balance of $1500 on another card, for example, you can park it on the Chase Slate for 15 months without paying a penny of interest or fees. Most other cards charge a fee of 3% of the amount transferred — in this example, you’d pay an extra $45 to move your balance with any other card. And some cards charge a fee higher than 3%.
If you have a big balance out there at a high interest rate, this card is a no-brainer.
In addition to that great balance transfer offer, you get two other features that are competitive with other cards but not quite as “Wow”-inducing:
- A 0% interest rate on new purchases with the card for 15 months. However, after those first 15 months, it offers an interest rate range of anywhere from 13.24% to 23.24%, so you could get a nice interest rate on new purchases with the card after those first 15 months are up, but you might not. It’s up to Chase and they won’t tell you until you apply. That’s a bit of a bummer.
- A free FICO credit score each month, so you can see how well you are handling credit.
There is NO rewards program with the Chase Slate credit card. This card is all about the 0% interest rate offers, so it’s not surprising that you won’t earn any type of rewards on your purchases.
With its great no-fee balance transfer offer, the Chase Slate is something of a one-trick pony. But it’s a great trick! And its other features are mostly competitive with other major credit cards. If you need to park a balance from another card and don’t care about earning rewards, the Chase Slate Visa may be for you. You can apply online here.