Chase Slate Review

The information related to the has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card. If you’re drowning in credit card debt, a balance transfer credit card like the may help you get out of debt. While the card itself is fairly basic, the balance transfer offer … Continue reading Chase Slate ReviewThe post Chase Slate Review appeared first on MagnifyMoney.

Posted 4:26 p.m. Jul 9, 2018 — Updated 4:26 p.m. Jul 9, 2018

The information related to the Chase Slate® has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card.

If you’re drowning in credit card debt, a balance transfer credit card like the Chase Slate® may help you get out of debt. While the card itself is fairly basic, the balance transfer offer is consistently one of our top picks with its Intro $0 on transfers made within 60 days of account opening. After that: Either $5 or 5%, whichever is greater.

In this review, we will cover:

Breaking down the balance transfer offer

What to know before completing a balance transfer with the Chase Slate®

How to complete a balance transfer with Chase

What other cards should I consider?

Breaking down the balance transfer offer

The Chase Slate® offers a decent 0% Intro APR on Balance Transfers for 15 months. After the intro period ends, a 16.49% - 25.24% Variable APR is in effect. While this is a good offer, you can find cards with intro periods as long as 18 or 21 months — however, they may not offer a $0 intro balance transfer fee.

A great feature of the Chase Slate® is the Intro $0 on transfers made within 60 days of account opening. After that: Either $5 or 5%, whichever is greater. Completing a transfer within the 60 days allows you to save the typical 3% balance transfer fee other cards may charge. For example, if you transfer a $2,000 balance to a card with a 3% balance transfer fee, you will incur a $60 fee, but if you transfer the same balance to the Chase Slate® within 60 days from account opening, there is no fee.

What to know before completing a balance transfer with the Chase Slate®

A balance transfer can be a great way to get out of debt, but there are some terms to be aware of before you complete your transfer:

Balance transfer fee: Intro $0 on transfers made within 60 days of account opening. After that: Either $5 or 5%, whichever is greater. Make sure you transfer your balance within the first 60 days from account opening so you can benefit from the $0 intro balance transfer fee.
Regular purchase APR: If you continue to carry a balance once the intro period ends, you’ll incur a 16.49% - 25.24% Variable APR. Therefore, it’s important to pay off your balance prior the intro period ending so you don’t repeat the same cycle of debt.
Balance transfer window: The clock starts ticking on your balance transfer offer as soon as you open your card. And, to qualify for the $0 intro balance transfer fee, you need to complete your transfer within 60 days of account opening. So, if you want to benefit from the majority of the 15-month intro period and the $0 intro BT fee, transfer your balance when you open the card or soon after account opening.
How long the balance transfer takes to process: Chase states most transfers are processed within a week, but some may take up to three weeks. While you’re waiting for your transfer to post, continue making payments on the card that had the debt.