Chase Slate Edge: Best for Balance Transfers and Lowering Your APR


The Chase Slate Edge℠ offers a competitive solution Introductory APR on purchases and balance transfers, as well as a unique opportunity to reduce your regular APR beyond the promotional period.

After the particularly long promotional period is over, you can earn reduced APRs on an annual basis with on-time payments and moderate usage – activities that can also help boost your credit score. But like most balance transfer cardsthe Chase Slate Edge does not offer rewards program or traditional welcome bonus.

you will need good or excellent credit to qualify for this card – typically a credit score of 670 or higher – and there is no annual fee. Read on to find out how to get the APR introductory offer while keeping fees and interest charges to a minimum, and for comparable card suggestions for low-interest financing and balance transfers.

In this article

Introductory offerN / A

APR15.24 – 23.99% Variable

Recommended credit Excellent/Good Credit

Reward rateN / A

Annual fees$0

Intro Purchase APR0% Intro APR on purchases for 18 months

Intro Balance Transfer APR0% Intro APR on balance transfers for 18 months

Balance Transfer Fee Either $5 or 5% of the amount of each transfer, whichever is greater.

APR balance transfer15.24 – 23.99% Variable

Foreign transaction fees 3% of each transaction in US dollars

APR Penalty Up to 29.99%

Introductory APR on balance transfers and purchases

The Slate Edge offers 18 months of 0% introductory APR on balance transfers and purchases (15.24% to 23.99% variable APR thereafter). It is a competitive offer for both.

For balance transfers, you should pay attention to the delay. Time starts counting as soon as you open your account, unlike other cards which offer a 30-120 day buffer window. So if you initiate a balance transfer after you’ve had the card for three months, you’ll only be able to use the remaining 15 months of 0% introductory APR on that balance.

You will also want to initiate your balance transfer within the first 60 days of account ownership. There is a introductory balance transfer fee from 3% with a minimum of $5 – the industry standard – which increases to 5% (minimum of $5) after these first 60 days.

The APR intro on purchases is simpler. You have 18 months from the date you open the account to earn 0% introductory interest on your purchases, provided you make your minimum payments on time.

We recommend paying off the balance – whether from a balance transfer or purchases – after 18 months, to avoid the regular variable APR of 15.24% to 23.99%. But if you can’t avoid doing it, this card has a special feature that could help you save some money.

Lower your regular APR

Most credit cards assign your regular APR based on your creditworthiness and the prime rate, or the base interest rate assigned to the best credit ratings based on the federal funds rate. However, the Chase Slate Edge lowers your APR with good behavior.

You can get up to 2% APR discount per year if you pay on time and spend at least $1,000 on your card by your account anniversary date. You can take advantage of this benefit until your APR reaches prime plus 9.74%. Currently based on a prime rate of 3.5%, this means you can potentially achieve a variable APR of 13.24%, much lower than the current one. Average APR of new credit card of 19.55%.

Other Features

The Chase Slate Edge offers more extras than most other introductory APR and balance transfer cards. You will have purchase protectionextended warranty protection and collision damage waiver for rental vehicles.

With Purchase Protection, you can get reimbursed for damaged or stolen purchases. You can get up to $500 per claim, for a total of $50,000 per account, but all claims must be made within 120 days of purchase.

Extended warranty protection also protects you against purchases that go wrong. This benefit applies to all purchases backed by a US manufacturer’s warranty. In these cases, the Chase Slate Edge extends your warranty period by one year on qualifying warranties of three years or less.

If you book a car rental with your Chase Slate Edge, you can choose not to pay for collision damage waiver offered by the car rental company. The Slate Edge gives you the same protection for most car rentals in the United States and abroad in the event of a collision or theft. It is important to note, however, that this coverage is secondary to your primary driver’s insurance and will only be paid out after your primary insurance has done so.

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Comparable cards

Wells Fargo Reflect℠ Card

The Wells Fargo Reflect℠ Card offers a similar introductory APR on balance transfers and qualifying purchases. This card offers a 0% introductory APR for 18 months from account opening on eligible purchases and balance transfers, plus an introductory extension period of up to three months with on-time minimum payments during the introductory and extension periods, for a total of up to 21 months (13.74% to 25.74% variable APR thereafter).

Keep in mind that this offer also starts the day you open your account, so you’ll need to make any large planned purchases or qualifying balance transfers right away to get the most out of this offer. And be sure to initiate a balance transfer within 120 days to take advantage of the introductory rate and 3% (minimum $5) introductory balance transfer fee. After that, the balance transfer fee jumps up to 5%, with a minimum of $5 either way.

To learn more about what Wells Fargo Reflect Card deals, see our full review.

U.S. Bank Visa® Platinum Card

The US Bank Visa® Platinum Card is another card with no annual fee which boasts a competitive introductory APR.

You’ll get 20 billing cycles of 0% introductory APR on purchases and balance transfers, then you’ll be subject to a variable APR of 15.24% to 25.24%. For balance transfers, there is a standard balance transfer fee of 3% with a $5 minimum. It will not skip after a promotional period like with Wells Fargo Reflect and Chase Slate Edge, but you will need to initiate a balance transfer within 60 days of account opening to take advantage of the introductory APR.


How do balance transfer credit cards work?

Although balance transfer credit cards are technically credit cards, they are more like a debt financing tool. They are best used to pay off existing credit card debt rather than as a method of payment.

A balance transfer is when you take the debt, or balance, you owe on one card account and transfer it to another credit card account. Usually this is done for the purpose of saving money by transferring debt from a high interest account to a low or no interest account.

While many credit cards allow balance transfers, those primarily designed for this purpose all share one main feature: an introductory period of 0% APR on balances transferred to this account, generally applicable to transfers made within 60 to the first 120 days following possession of the card. The introductory period of the APR usually lasts between 12 and 21 months, giving you a significant period of time to pay off your balance without interest.

While a few credit cards offer free transfers, most balance transfer cards charge a fee to transfer your debt, usually between 3% and 5%. Generally speaking, the longer the 0% APR introductory period, the higher the fees, and vice versa. So, the best cards with no balance transfer fee have a shorter introductory APR period, and those with the longest introductory APR period have transfer fees of 3% to 5%.

If I still have a balance after the APR introductory period ends, can I just continue to transfer my debt to a new balance transfer card?

Technically, yes. In some cases, transferring your balance two or three times might even be what is needed to finally pay off your debt. But unless you fully understand how you got into debt and have a plan to get out of it, you won’t be looking for a solution.

While transferring your remaining debt to a second balance transfer card can allow you to pay off your balance without monthly interest or fees, it’s important to note that there are too many variables for multiple balance transfers to be a strategy. failure-proof debt.

For example, your card application could be declined, your credit limit could be much lower than you expected, or your transfer request could be declined. Credit card offers could also change, making it difficult to plan ahead. For this reason, I recommend choosing a card that allows you to pay off the full balance after a cycle if possible.

How long will it take to complete a balance transfer?

It can take between 10 days and six weeks to complete a balance transfer after you receive your new card and cardholder consent. It is also important to note that some card issuers, such as Citi, make balance transfers available at their discretion and therefore may decline a transfer request. You should probably still pay the minimum on the balance of the old card until you’ve confirmed the transfer has been made, so you don’t run the risk of fees or penalties.

Our approach

We review the cards which are the most in demand and offer the best benefits. We go through the fine print so there are no surprises when you open an account. We find the key factors that make a card stand out and compare them to other top cards. This way, readers can opt for a different card with similar functionality if our choice doesn’t suit them. Our opinions are regularly checked and updated to incorporate new recommendations, as well as to reflect changes in offers and the market.

Editorial content on this page is based solely on objective, independent assessments by our editors and is not influenced by advertising or partnerships. It was not supplied or commissioned by a third party. However, we may receive compensation when you click on links to products or services offered by our partners.


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