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The Chase Slate Edge℠ credit card is a good choice if you need a 0% APR credit card to pay off a large purchase or a long timeframe to pay off debt from a balance transfer. The drawback is that it lacks many of the rewards and perks that come with other interest-free credit cards.
Quick Review
The Chase Slate Edge℠ credit card is an unsecured credit card available to borrowers with good or excellent credit. The card’s main draw is its 18-month 0% APR period for purchases and balance transfers.
To keep customers interested beyond the introductory zero-interest period, Chase also rewards cardholders with automatic consideration for a credit limit increase after 6 months and 2% interest rate reduction each year. In addition, you can set up a My Chase Plan to take advantage of incredibly low interest rates (1.72%) after the 0% APR period is over.
Ultimately, the Chase Slate Edge℠ is a credit card aimed at borrowers who have struggled with paying off credit card debt, or foresee large balances in the future and need extra time and ways to pay off those sums.
It may be just what you need if you want a break from high interest rates or you’re trying to consolidate your credit card debts. However, if you’re looking for an everyday card and don’t have specific interest-rate needs, you can certainly find cards with better rewards programs and benefits.
Chase Slate Edge℠ Credit Card Important Details
Basic Card Details
- Annual fee: $0
- APR: 18.74%–27.49% (variable)
- Intro APR: 0% for 18 months
- Credit card issuer: Chase
- Minimum credit limit: $500
- Grace period: 21 days
Additional Information
- Automatic 2% reduction in interest rate each year as long as you pay on time and spend at least $1,000 on your card
- Potential credit limit increase after 6 months when you pay on time and spend $500
- Free credit monitoring with Chase Credit Journey
- Balance transfer and foreign transaction fees apply
- Instant access to your credit card through a digital wallet as soon as you’re approved
Chase Slate Edge℠ Credit Card Feature Breakdown
Fees
- Annual fee: None
- Balance transfer fee: $5 or 3% (whichever is greater) for the first 60 days of account opening, then either $5 or 5% (whichever is greater)
- Foreign transaction fee: 3%
- Cash advance fee:$10 or 5% (whichever is greater)
- Late or returned payment fee: Up to $40
- Over-the-limit fee: None
If you have a balance to transfer, make sure you do it in the first 60 days after account opening to take advantage of the lower balance transfer fee, and get the most out of your 18 months of no interest.
Interest Rates
- Purchase APR: 18.74%–27.49% (variable)
- Intro APR: 0% for 18 months for purchases and balance transfers
- Cash advance APR: 27.99% (variable up to 29.99%)
- Balance transfer APR: 18.74%–27.49% (variable)
- Penalty APR: Up to 29.99%
Even after the interest-free introductory period, you can avoid paying any interest at all on your account if you just ensure that you’re not carrying a balance over from one month to the next. Chase will only charge you interest on the debt you’ve left unpaid.
Balance Transfers
The Chase Slate Edge℠ card is often used as a balance-transfer credit card, and it’s even marketed that way. However, before getting this credit card just for debt consolidation, consider the following restrictions that Chase imposes for balance transfers:
- Balance transfer period: Unlimited (but balance transfer fees increase 60 days after account opening)
- Balance transfer limit: Your credit limit or $15,000 (whichever is lower)
- Account eligibility: You can’t transfer a balance from another credit card or loan with Chase or one of their affiliates
Transferring debt from one credit account to another may also increase the credit utilization rate on your new Chase credit card, which would lower your credit score and make you appear riskier to lenders.
It’s also worth noting that the Chase Slate Edge℠ card falls a little short of some of the best 0% APR credit cards out there when it comes to the time limit for paying off your debt without interest and the perks it offers after the intro period ends.
Automatic Interest Rate Reduction
Chase will automatically review your account every year on the anniversary of your account opening date to consider you for a 2% decrease in your APR. In order to be considered, you’ll need to have spent at least $1,000 and made all your credit card payments on time.
Your account will be reviewed each year, meaning that the longer you keep using your Chase Slate Edge℠ credit card, the lower your interest rate will be. However, there is a limit. Your APR can only be reduced until it reaches 9.74% plus the prime rate (which is currently 7%.
It’s also worth noting that balance transfers, cash advances, and foreign transactions don’t count towards the $1,000 of purchases you need to make each year to qualify.
Automatic Credit Limit Increase
You’ll get automatic consideration for a Chase credit limit increase after 6 months have passed since you first opened yourChase Slate Edge℠ account. To qualify, you’ll need pay all of your credit card bills on time and spend $500 or more, excluding balance transfers, cash advances, and foreign purchases.
My Chase Plan
The Chase Slate Edge℠ credit card offers a rare advantage over other 0% APR credit cards: it allows you to make purchases with near-zero interest even after the introductory zero-interest period is over.
When you enroll in My Chase Plan, you’re signing up to repay a purchase in fixed installments. While you’re still in the 18-month 0% APR period, your interest rate will be 0%. After that, you’ll pay a monthly fee equivalent to 1.72% of the purchase amount.
This makes the Chase Slate Edge℠ a valuable credit card if you’re planning on making a large purchase. As long as you make all your payments as agreed, you could end up paying less overall than you would by using retail financing or taking out a personal loan.
Partner Benefits
Chase partners with DoorDash and Instacart+ to offer the following perks to Chase Slate Edge℠ cardholders:
- Complimentary 3-month Dash Pass: Unlimited free deliveries and reduced service fees on DoorDash and Caviar orders for 3 months, followed by a 50% discount on your membership for 9 months.
- Complimentary 3-month Instacart+ Membership: Unlimited free deliveries and reduced service fees for 3 months.
Insurance and Protection
As a cardholder, you’ll benefit from several types of retail coverage and insurance protection on the purchases and bookings you make with your Chase Slate Edge℠ credit card:
- Purchase protection: Covers damage and theft up to $500 within the first 120 days after purchase.
- Extended warranty protection: For purchases with a warranty of 3 years or less, extend the manufacturer’s warranty by an additional year.
- Zero-liability protection: You won’t be held responsible for unauthorized purchases on your card (except by an authorized user).
- Auto rental collision damage waiver: Theft and collision protection in the US and abroad when you put the whole car rental transaction onto your credit card.
- Fraud alerts and protection: Real-time fraud monitoring and alerts.
- Roadside dispatch: Roadside assistance (e.g., towing, jumpstarting, changing tires, unlocking your car, or delivering gas) at any time.
Instant Spending
Like many other Chase credit cards, the Chase Slate Edge℠ card can be added to a digital wallet. This means that you can begin making purchases on your new credit card immediately after you’ve been approved, even before you’ve received your physical card.
Compatible digital wallets include Apple Pay®, Google Pay™, and Samsung Pay. Simply add your card to your digital wallet and begin spending.
Credit Reporting
Generally speaking, Chase reports to the credit bureaus every 28–31 days. Specifically, they report to all three major credit reporting agencies (Experian, Equifax, and TransUnion). This means your Chase Slate Edge℠ account will appear as a tradeline on all three of your credit reports.
It’s also worth noting that if you miss the due date for one of your credit card bills, Chase won’t report your late payment until it’s 30+ days past due. 1
Customer Service
If you need help managing your Chase Slate Edge℠ credit card account, try exploring Chase’s credit card resource center, where you can find help solving specific problems with your account.
Alternatively, you can contact Chase directly by calling their credit card customer service line at: (800) 432-3117
Should You Get the Chase Slate Edge℠ Credit Card?
FinanceJar verdict
The Chase Slate Edge℠ credit card is a good option if you want to transfer high-interest debts onto a 0% APR credit card and then keep the account open to build credit. If you only want the card for the balance transfer or you want rewards for your purchases, then you’ll find better options elsewhere.
Who is this card for?
- Borrowers trying to pay off high-interest debt: Since the Chase Slate Edge℠ is a balance transfer credit card, you’ll be able to take advantage of most of its benefits if you’re working to pay off credit card debt.
- People planning on making large purchases: If you need to buy electronics, appliances, or furnishings for a new home and you can afford to pay in full within 18 months, then financing your purchases with this 0% APR credit card is a better option financially than taking out a loan.
- People willing to wait for long-term benefits: After the 0% APR period, the Chase Slate Edge℠ credit card won’t offer any immediate benefits over other unsecured credit cards. However, your interest rate will decline the longer you keep the account open. After a few years, this would make for a highly desirable credit card that you can use to finance large purchases at a low cost.
Comparable Cards
To help you figure out whether the Chase Slate Edge℠ credit card is for you, we’ll give a quick overview of how the card compares to other similar credit cards offered by Chase.
