Chase Slate Edge Review: A practical card for debt consolidation and large purchases

Chase Slate Edge℠ Highlights

Card type: Balance transfer, 0% APR

• Intro APR: 0% intro APR for the first 18 months on purchases and balance transfers
• Annual Fee: $0
• Rewards: This card does not earn rewards

Overview

The Chase Slate Edge℠ is a no-frills card with a $0 annual fee, making it an attractive choice for individuals looking to consolidate their debt repayment and pay off their balance over time. It could also be a useful card if you need to make a large purchase because the card offers purchase protection and extended warranty benefits.

Slate Edge cardholders can take advantage of 0% intro APR for the first 18 months on balance transfers and purchases. After that, 20.49%–29.24% variable variable APR. 

For balance transfers made within 60 days of account opening, there’s also a fee of either $5 or 3% of the amount of each transfer, whichever is greater. For transfers made after that, there’s a fee of either $5 or 5% of the amount of each transfer, whichever is greater.

Plus, after the 0% APR period ends, you can get a yearly reduction in your APR. Cardholders will be eligible for an APR reduction of 2% (up until their APR is the prime rate plus 9.74%) if they make timely payments and spend at least $1,000 on their card by their next account anniversary. 

Cardholders are also eligible to receive a credit limit increase after they pay on time and spend $500 within the first six months.

While the automatic credit limit increase and APR reduction are interesting features, they’re not standout perks, especially considering there are 0% APR cards with better rewards, welcome bonuses, and perks.

Who is Chase Slate Edge℠ good for? 

The Chase Slate Edge℠ caters to those who need a longer period to pay off their purchases or who want to consolidate their debt. 

Though this card lacks flashy perks, it encourages responsible credit management because it offers a potential 2% yearly APR reduction and credit limit increases after six months. You’ll also get practical benefits like purchase protection, extended warranty coverage, and an auto rental collision damage waiver. 

Who shouldn’t get Chase Slate Edge℠? 

The Chase Slate Edge℠ is likely not the best fit for cardholders who prioritize flashy perks, generous rewards, and welcome bonuses. If you’re seeking a card with useful perks and features beyond the 0% intro APR period, you should consider other cards.

Chase Slate Edge℠ Card rates and fees

• Annual fee: $0
• Foreign transaction fee: 3% of the amount of each transaction in U.S. dollars
• Intro APR: 0% intro APR for the first 18 months your account is open
• Purchase APR: 20.49%–29.24% variable

Balance transfer: 0% for the first 18 months your account is open plus a fee of either $5 or 3% of the amount of each transfer, whichever is greater. Transfers made after 60 days of account opening are subject to a fee of either $5 or 5% of the amount of each transfer, whichever is greater. After that, 20.49%–29.24% variable.

Additional benefits

• Receive a lower interest rate every year. If you make timely payments and spend a minimum of $1,000 on your card by your next account anniversary, you may be eligible for an up to 2% APR reduction. This reduction will continue until your APR reaches the Prime Rate plus 9.74%.
• Automatic credit limit increase. If you spend $500 and pay your bill on time, you’ll automatically be reviewed for a credit limit increase within your first six months.
• Purchase protection. If there’s damage or theft to your new purchase within 120 days, you could be eligible for up to $500 of coverage.
• Extended warranty protection. When you make a purchase with a warranty of three years or less, you may be eligible for an extension of the warranty for an extra year.
• Auto rental collision damage waiver. When you decline the rental company’s collision insurance and use your card to make the purchase, you receive insurance coverage for theft and collision of your rental car. 
• Complimentary 3 month DashPass membership. Activate by December 31, 2024.
• Complimentary 3 month Instacart+ membership. Activate by July 31, 2024.

Credit cards similar to Chase Slate Edge℠

While the Chase Slate Edge℠ is a decent 0% APR card, there are cards with longer intro APR periods. The U.S. Bank Visa® Platinum Card offers a 21-month 0% intro APR period on purchases and balances. However, like the Slate Edge, this card doesn’t provide rewards. 

If you’re more interested in earning cash-back or a welcome bonus, the Wells Fargo Active Cash is a flat cash-back card with a welcome bonus in addition to an extended intro APR. 

U.S. Bank Visa® Platinum Card vs. Chase Slate Edge℠

The U.S. Bank Visa® Platinum Card is a no-annual-fee card offering a 0% intro APR period on purchases and balance transfers for 21 billing cycles. After that, 18.74%–29.74% variable APR. 

And the fee you’ll pay for balance transfers with the U.S. Bank Visa Platinum Card is less than the fee you’d pay with the Slate Edge (after 60 days of card opening). Visa Platinum cardholders pay a fee of either 3% of the amount of each transfer or $5 minimum, whichever is greater. 

You also won’t receive rewards with this card, but you will get some useful protections like cell phone protection, which provides up to $600 reimbursement (when you use your card to pay your bill) if your cell phone is stolen or damaged. 

Wells Fargo Active Cash® Card vs. Chase Slate Edge℠

Unlike the U.S. Bank Visa Platinum Card and Chase Slate Edge℠, the Wells Fargo Active Cash offers solid cash rewards. With this $0 annual fee card, you can earn 2% back on all eligible purchases.

Plus, you can earn a $200 cash rewards bonus by spending $500 on purchases in the first three months of card opening. And most notably, this card provides a 0% intro APR period on purchases and balances from the first 15 months from account opening. After that, a 20.24%, 25.24%, or 29.99% variable APR.

You’ll also have to pay a slightly hefty fee for balance transfers. You’ll pay an introductory fee of $5 or 3% of the amount of each balance transfer, whichever is greater, for transfers initiated 120 days from account opening. You’ll have to pay 5% for each balance transfer, with a minimum of $5 after that.

Overall, this card offers a slightly shorter 0% intro APR period than the Chase Slate Edge℠ but it could be better in the long run given its modest rewards. 

Frequently asked questions

Is the Chase Slate Edge℠ hard to get?

For some, the Chase Slate Edge℠ may be hard to get as you’ll need a good FICO credit score of 690 or better to qualify.

Is the Chase Slate Edge℠ better than the Chase Sapphire?

While the Chase Slate Edge℠ is known for its 18-month 0% intro APR period on balance transfers and purchases, the Chase Sapphire Preferred^® Card and Chase Sapphire Reserve® are travel credit cards that offer solid perks, rewards, welcome bonuses, and protections. 

The card that’s best for you depends on your spending habits, travel preferences, budget, and financial needs.

What are the benefits of the Slate Edge?

The primary benefits of the Slate Edge card are the 0% intro APR for the first 18 months intro APR period on balance transfers and purchases and the automatic considerations for APR reductions and credit limit increases. The card also offers extended warranty and purchase protection which are useful for large purchases. 

Please note that card details are accurate as of the publish date, but are subject to change at any time at the discretion of the issuer. Please contact the card issuer to verify rates, fees, and benefits before applying.