Chase Slate Edge^℠ Review: Is It a Good Card?

The Chase Slate Edge^℠ credit card is a good card if you need time to pay off a sizable upcoming purchase or you’re struggling to pay down existing credit card debt. It offers a lengthy intro APR on purchases and balance transfers.

What sets the Chase Slate Edge^℠ apart are the incentives it offers for spending and using the card responsibly. For example, you can potentially lower your interest rate by 2% each year after spending $1,000 on your card by your next account anniversary. You can also receive a higher credit limit when you pay on time and spend $500 in your first six months.

However, if you’re someone who always pays off your credit card balance each month, the APR reduction may be of little use to you. There are few benefits to this card besides the balance transfer offer. If you want to use it for a balance transfer to pay off existing debt, take note of the two alternative balance transfer cards that give you a longer payback period and allow you to save more on interest.

Want to save more on a balance transfer? See our best balance transfer credit cards

• Annual fee: $0
• Sign-up bonus: N/A
• Rewards: N/A
• APR on purchases: 0% Intro APR on Purchases for 18 months. After that, 19.74% – 28.49% Variable APR
• APR on balance transfers: 0% Intro APR on Balance Transfers for 18 months. After that, 19.74% – 28.49% Variable APR
• Balance transfer fee: Either $5 or 5% of the amount of each transfer, whichever is greater in the first 60 days. After, either $5 or 5% of the amount of each transfer, whichever is greater.
• Other benefits: Purchase protection, extended warranty protection, roadside dispatch, auto rental collision damage waiver
• Credit needed: Good / Excellent

• Lengthy intro APR offers on purchases and balance transfers

  The Chase Slate Edge^℠ gives you a long 0% Intro APR on Purchases for 18 months. After that, an APR of 19.74% – 28.49% Variable applies. You’ll also get a 0% Intro APR on Balance Transfers for 18 months. After that, an APR of 19.74% – 28.49% Variable applies.

  Compared to other 0% APR credit cards — which can have intro periods ranging anywhere from six months to 21 months — these are strong offers.

  Some balance transfer credit card users on Reddit report receiving targeted offers through the mail for 21 months of intro APR financing on the Chase Slate Edge^℠. This is one of the longest intro periods you can find.

• Chance to reduce your interest rate

  A standout feature of this card, for those who carry a balance, is the unique opportunity to lower your ongoing APR. When you pay your Chase Slate Edge^℠ bill on time and spend $1,000 on your card in an account anniversary year, you’ll be automatically considered for an APR reduction of up to 2%.

  The lowest your APR can go is the prime rate plus 9.74%, which is better than the APRs of some of the best low-interest credit cards currently available. So if the prime rate is 7%, the lowest your APR can be is 16.74%.

  Note that this APR reduction is not guaranteed, plus it only benefits you if you carry a balance.

  → See the average credit card interest rate in America

• Opportunity to raise your credit limit

  Paying your balance on time may also qualify you for a higher credit limit with this card. When you pay on time and spend $500 in the first six months of having the card in the first year, Chase will automatically review your account to see if you’re eligible for a higher credit limit.

  → Learn how to increase your credit limit with any credit card

• Offers purchase protections and shopping benefits

  Like many Chase credit cards, the Chase Slate Edge^℠ benefits include a variety of useful purchase protections that are commonly seen on premium cards that come with annual fees.

  Included among the Chase Slate Edge^℠ benefits are:

  • Purchase protection: Covers purchases from damage or theft for 120 days from the date of purchase, up to $500.
  • Extended warranty protection: Extends the time period of the manufacturer’s U.S. warranty by an additional year, on eligible warranties of three years or less, up to four years from the date of purchase.
  • Auto rental coverage: Coverage provides reimbursement for theft and collision damage for most rental vehicles paid for with your Chase Slate Edge^℠ when you decline the rental company’s collision insurance.
  • Roadside assistance: In an emergency, you can call the service provider to dispatch the help you need. Service fees are billed to your card at the time of dispatch.
  • Chase Pay Over Time℠: Eligible purchases may break up large purchases into budget-friendly payments.

• Requires good / excellent credit

  Unfortunately, the Chase Slate Edge^℠ accepts applicants with good / excellent credit. If your credit score is not in this range, you run the risk of adding a hard pull to your credit history without the benefit of having the credit card.

  → Find your credit score with LendingTree Spring

  Did you know? You can check if you’re preapproved for a Chase credit card with Chase’s preapproval form. By doing this, you can decide if you want to apply for a card or not.

  Learn how to get preapproved for a Chase credit card.

• No rewards program

  The Chase Slate Edge^℠ doesn’t offer rewards for the purchases you make, but that’s common for a card that provides a long intro APR on purchases and balance transfers.

  If you want a card that offers rewards and an intro APR, you may have to settle for a shorter interest-free period, like the Chase Freedom Unlimited^®.

  A rewards card with a shorter 0% intro period may be a better value for financing a new purchase than the Chase Slate Edge^℠. The rewards can help offset some of the costs of the shorter intro period, plus you’ll often get a sign-up bonus that can help you pay down the purchase.

• Foreign transaction fees

  If you use your Chase Slate Edge^℠ to make purchases outside the U.S., you’ll be charged foreign transaction fees of 3% of the amount of each transaction in U.S. dollars.

  These additional credit card fees can add up quickly, so it’s best to take a credit card with no foreign transaction fees when traveling abroad.

Chase Slate Edge^℠ vs. Citi Simplicity^® Card

The Citi Simplicity^® Card is an even better option for saving on a balance transfer, since it offers a longer interest-free period on balance transfers than the Chase Slate Edge^℠. You’ll get a 0% intro APR for 21 months on Balance Transfers, then an 18.24% - 28.99% (Variable) applies.

Unfortunately, its intro APR for purchases is on the short side. You’ll only get a 0% intro APR for 12 months on Purchases, followed by an 18.24% - 28.99% (Variable) APR.

 

Chase Slate Edge^℠ vs. Wells Fargo Reflect^® Card

If you want a card with an even longer intro APR period for purchases and balance transfers, the Wells Fargo Reflect^® Card offers one of the longest currently available. You’ll get a 0% intro APR for 21 months from account opening . After that, a regular 17.24%, 23.74%, or 28.99% Variable APR applies. And you’ll get an equally long 0% intro APR for 21 months from account opening on qualifying balance transfers. After that, a regular 17.24%, 23.74%, or 28.99% Variable APR applies.

Like the Chase Slate Edge^℠, this card comes with a $0 annual fee but also doesn’t offer a rewards program and charges foreign transaction fees.

Its biggest downside is that it doesn’t offer an introductory balance transfer fee. You’ll be responsible for paying 5%, min: $5. That 2% difference could significantly cut into your savings from a balance transfer. For example, you could pay $100 more than you would with the Chase Slate Edge^℠ for transferring a $5,000 balance.

Chase Slate Edge^℠ vs. Chase Freedom Unlimited^®

If you want to earn cash back rewards — and you don’t mind a slightly shorter intro APR — the $0-annual-fee Chase Freedom Unlimited^® could be a better fit. You’ll get a 0% Intro APR on Purchases for 15 months, after that, a 19.49% - 28.24% Variable applies. Also you’ll get a 0% Intro APR on Balance Transfers for 15 months. After the intro period, a 19.49% - 28.24% Variable will apply.

Chase offers the following rewards to cardholders: “Enjoy 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases“.

Plus, you’ll earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel℠, 4.5% on dining and drugstores, and 3% on all other purchases.

Unlike the Citi Simplicity^® Card and Wells Fargo Reflect^® Card, this card is a good one to hold onto even after the promotional offers end.

The Chase Slate Edge^℠ is a good choice if you’re looking for a $0-annual-fee card with a long intro APR on purchases or balance transfers. While the card doesn’t offer rewards, it comes with rare features that can help you lower your interest rate and increase your credit limit.

The Citi Simplicity^® Card is a better option if you’re paying off debt and you want the most time to take advantage of the introductory balance transfer fee to save even more money.

And, if you want to earn cash back rewards and don’t need a ton of time to pay your balance in full, you should consider the Chase Freedom Unlimited^®. Despite a slightly shorter intro APR period, it’s the more valuable option in the long run.

We rate balance transfer cards based on how much they will save you on a balance transfer. We use calculations to estimate the value of each card for the average cardholder:

• Intro offer savings (90% of rating): We calculate the amount you’ll save on a balance transfer, based on the length of the introductory period. We assume a transfer amount of $6,000 and a monthly payment of $300. We subtract balance transfer fees, annual fees and the amount paid on interest for any amount left over after the introductory period expires.
• Ongoing value (10% of rating): We also consider the yearly value in rewards for the average cardholder, minus the card’s annual fee. For nonrewards cards, this value will be $0, or less than $0 if the card charges an annual fee.