Chase Slate Edge Card Review: 0% Period Made Sweeter
The Bottom Line
4.8
This is a solid option for financing a major purchase or paying down existing credit card debt without interest. If you're looking for rewards, though, this isn't your card.
Rates, fees and offers
Annual fee
$0
Rewards rate
N/A
Bonus offer
None
Intro APR
0% intro APR for 18 months on purchases and balance transfers
Ongoing APR
APR: 20.49%-29.24% Variable APR
Cash Advance APR: 29.99%, Variable
Penalty APR: 29.99%, Variable
Balance transfer fee
Either $5 or 5% of the amount of each balance transfer, whichever is greater.
Foreign transaction fee
3% of each transaction in U.S. dollars
More details from Chase
- Start off strong with 0% Intro APR for 18 months from account opening on purchases and balance transfers. A variable APR of 20.49% - 29.24% on balance transfers and purchases after the introductory period ends.
- Lower your interest rate by 2% each year. Automatically be considered for an APR reduction when you pay on time, and spend at least $1000 on your card by your next account anniversary.
- Raise your credit limit. Get an automatic, one-time review for a higher credit limit when you pay on time, and spend $500 in your first six months.
- All for no annual fee - You won't have to pay an annual fee for all the great features that come with your Slate Edge℠ card
- Keep tabs on your credit health - Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more
- Member FDIC
Pros and Cons
Pros
Intro APR period
No annual fee
New cardholder bonus offer
Cons
Requires good/excellent credit
Has balance transfer fee
No rewards
Detailed Review
Although it was underwhelming when it first hit the market in mid-2021, the $0-annual-fee Chase Slate Edge℠ has undergone a revamp that makes it one of the better balance-transfer cards available.
The Chase Slate Edge℠ also provides opportunities for cardholders to lower their ongoing interest rate as well as increase their credit limit. But the people who would perhaps stand the most to gain from those features — those working to build their credit — might not qualify for card. Potential applicants will need good to excellent credit (a FICO score of 690 to 850) to qualify.
The Chase Slate Edge℠ is different from the original Chase Slate®, which closed to new applicants in 2020. The original Slate was one of the rare balance transfer cards you could qualify for with fair credit (a FICO score of 630 to 689). Plus, it was a “triple-zero” card: It offered a promotional $0 balance transfer fee, a $0 annual fee and a lengthy 0% intro APR period. The Chase Slate Edge℠, meanwhile, has a balance transfer fee and requires good to excellent credit.
Chase Slate Edge℠: Basics
Card type: Balance transfer and 0% APR.
Annual fee: $0.
Sign-up bonus: None.
Ongoing rewards: None.
APR: 0% intro APR for 18 months on purchases and balance transfers, and then the ongoing APR of 20.49%-29.24% Variable APR.
Foreign transaction fee: 3%.
Balance transfer fee: 3% for the first 60 days of account holding, then $5 or 5% of the amount of each balance transfer, whichever is greater.
Other benefits:
Automatic consideration for a 2% APR reduction when you spend $1,000 by your next account anniversary and make timely payments.
One time automatic review for a higher credit line increase when you spend $500 in the first six months of account holding and make timely payments.
Access to Chase’s digital credit tools Credit Journey, a free tool for tracking your credit score and monitoring your identity, and My Chase Plan.
As a cardholder, you’re eligible for a DashPass benefit if you haven’t yet enrolled to receive it. If you enroll by Jan. 31, 2025, you’ll get a free DashPass membership for three months and a discount for the nine months that follow. If you haven’t yet enrolled to receive this benefit beginning on Feb. 1, 2025, you can receive a free DashPass membership for six months. By activating your DashPass membership, you’ll also be eligible for one credit of up to $10 off each quarter at checkout on one grocery, convenience or other non-restaurant order on DoorDash. Terms apply.
Compare to Other Cards
Benefits and Perks
A long 0% intro APR period
When it first launched, the Chase Slate Edge℠ offered a 12-month introductory 0% APR period, which was fairly weak at a time when other cards regularly offered 15 to 18 months. In January 2022, Chase extended the intro period. Cardholders now get a 0% intro APR for 18 months on purchases and balance transfers, and then the ongoing APR of 20.49%-29.24% Variable APR.
There's a balance transfer fee that starts out at 3%, which is on the lower end of the typical range of transfer fees, then later rises to 5% (minimum $5).
Incentives for good credit card habits
Cardholders will automatically be considered for a 2% APR reduction each year (until it reaches the Prime Rate plus 9.74%) when they make their card payments on time and spend at least $1,000 by their account anniversary. While the card’s interest-free period can buy you some time as you pay down credit card debt, once that period ends, you’ll be charged the card’s ongoing interest rate — which will apply to new purchases and balance transfers that you don’t pay off, as well as to any unpaid balance left over from the introductory period. To this end, a 2% yearly APR reduction can go a long way in saving you money if you end up carrying a balance after the card’s promotional period. Plus, it can be a great tool for those whose credit scores aren't high enough to qualify for a lower APR.
Additionally, making timely payments with the card can potentially help to improve your credit score. Customers who spend $500 in the first six months of holding the card are automatically eligible for an automatic, one-time review for a credit line increase. A higher credit limit can potentially help to lower your credit utilization and in turn, positively impact your credit score by giving you more wiggle room with how much of your credit line you can spend.
Drawbacks and Considerations
No rewards
The card’s 0%-intro APR offer can help you save money in interest. But beyond this promotional period, the Chase Slate Edge℠ doesn’t offer much long-term benefit. There are no rewards, and the $100 bonus you once were able to earn with the card has been removed.
If your priority is paying off debt as cheaply as possible, a lack of rewards might not be a deal-breaker. However, there are 0% APR cards that offer benefits and rewards that incentivize cardholders to keep them after their interest-free window closes.
The Wells Fargo Active Cash® Card, for example, gives you a 0% intro APR on Purchases for 12 months and 0% intro APR on Balance Transfers 12 months from account opening on qualifying balance transfers, and then the ongoing APR of 19.24%, 24.24%, or 29.24% Variable APR. And it offers high ongoing rewards: Cardholders can earn an unlimited 2% cash back on all purchases. It has a nice bonus offer, too: Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
Another option: The Discover it® Chrome. It has a 0% intro APR on Purchases for 6 months and 0% intro APR on Balance Transfers for 18 months, and then the ongoing APR of 18.49%-27.49% Variable APR. *Rates as of December 12, 2024. You also earn 2% cash back at restaurants and gas stations, on up to $1,000 in purchases each quarter; other purchases earn 1%. And it qualifies for Discover's unique bonus, which the issuer describes this way: "INTRO OFFER: Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
If these cards don't quite fit the bill, see how they stack up against the best rated credit cards.
How To Decide If It's Right For You
The Chase Slate Edge℠ is a solid option for financing a major purchase or paying down existing credit card debt without interest. Just keep in mind that its usefulness doesn't go much farther than that.
This no-annual-fee card features a strong intro APR offer on balance transfers. Plus, cardholders can earn 2% cash back at restaurants and gas stations, on up to $1,000 in purchases each quarter; other purchases earn 1%.
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Methodology
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