Chase Slate Edge Card: Good Intro Bonus, But Middling 0% Intro APR Offer

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Chase Slate Edge℠

Chase Slate Edge℠

Editor’s Score: (3.2/5)
Learn more externa link icon at our partner’s secure site.

  • Introductory balance transfer rate: 0% Intro APR on Balance Transfers for 12 months
  • Annual fee: $0
  • Regular APR: 14.99 – 23.74% Variable
  • Recommended credit score: 670-850 (Good to Excellent)

The Chase Slate Edge Card*, launched in 2021, offers a few different ways for cardholders to save on interest and fees. Its biggest draws are an introductory APR on purchases and balance transfers, and incentives for using your card responsibly, like a lower ongoing APR and increased credit limit. 

There are no long-term rewards on your spending, but you can earn a $100 bonus when you spend $500 within six months of account opening. 

At a Glance

  • Get a $100 statement credit when you spend $500 on your card within six months of account opening
  • 0% APR on purchases and balance transfers for 12 months, followed by a 14.99% to 23.74% variable APR
  • Lower your interest rate by up to 2% each year you make all payments on time and spend at least $1,000 on purchases
  • Automatic credit limit review when you make all payments on time and spend at least $500 within the first six months
  • No annual fee

Pros

  • $100 welcome bonus offer

  • No annual fee

  • 0% APR on purchases and balance transfers for 12 months

  • Decrease interest rate over time with responsible use

Cons

  • No rewards for everyday spending

  • Some other cards feature longer 0% APR offers

  • Few added benefits

Additional Card Details

After the 12-month introductory 0% APR on purchases and balance transfers (followed by a 14.99%-23.74% variable APR), you can lower your interest rate by up to 2% each year you use your Chase Slate Edge responsibly. To qualify, you’ll need to spend at least $1,000 each year and make every monthly payment on time. But that doesn’t mean you can reduce your interest to zero: the benefit is capped once you reach the Prime Rate (currently 3.25%) plus 9.74%.  

Chase Slate Edge doesn’t offer a ton of cardholder perks beyond its APR offer, but that’s in line with other cards in this category. 

Pro Tip

If you have excellent credit and you want to consolidate debt with a balance transfer credit card, make sure to check out other options. The best balance transfer cards give you 0% APR for 18 months or longer, which gives you a much longer timeline to pay down your balances.

One benefit is the ability to earn a higher credit limit over time. Chase will automatically review your account for a credit limit increase after the first six months if you make consistent on-time payments and spend at least $500 with your card. 

Chase Slate Edge also comes with a few purchase and travel protections, like extended warranties on eligible items, purchase protection against damage or theft, secondary auto rental coverage, roadside dispatch, and more.

Should You Get this Card?

The Chase Slate Edge can be helpful for incentivizing responsible credit use. Benefits like reducing your interest rate and increasing your credit limit over time in exchange for paying on time can be a great way to establish good habits that will help you build and maintain a great credit score.

Just keep in mind the limitations of these benefits. Based on today’s Prime Rate, the minimum APR you can earn (based on the Prime Rate plus 9.74% floor) is still 12.99%. That’s not much lower than the bottom range of the card’s standard variable APR (14.99%-23.74%). What’s more, this benefit is most valuable for people who carry balances on their cards, which we caution every credit cardholder against. If you pay your balances in full and on time each month, you’ll avoid accruing any interest at all, so you won’t need to worry about your APR.

If you’re strictly interested in a new card with a 0% APR intro period that can help you pay down a large purchase over time or eliminate existing high-interest debts, there are also better options available. Many of the best 0% APR cards today offer longer introductory periods, like the BankAmericard® credit card’s 18 billing cycle intro period for purchases and balance transfers. After the intro APR offer ends a 12.99% – 22.99% variable APR will apply. A 3% fee (min $10) applies to all balance transfers. Others may offer rewards after the intro period ends, like the 2% flat cash back rate with Citi® Double Cash Card.

Chase Slate Edge isn’t a bad option — especially if you hope to upgrade to one of Chase’s Freedom or Sapphire rewards cards in the future — but there are better options you may qualify for, depending on your specific goals.

How to Use Chase Slate Edge Card

Unlike many 0% APR cards, Chase Slate Edge offers a welcome bonus. You can maximize this card from the start by spending at least $500 within the first six months to earn the $100 bonus — which comes to less than $100 per month. 

If you decide to apply for this card for its 0% APR offer, make sure you have a plan to pay off any balances before the 12-month introductory period is over. If you don’t, you’ll be stuck paying your assigned variable APR on any leftover balances, whether they’re new purchases or balance transfers.

For any balance transfers you make, you’ll pay a 3% (minimum $5) balance transfer fee, which is typical among balance transfer credit cards. But if you wait too long, not only will you reduce the time you have to make interest-free payments toward your debt, you’ll pay more. After 60 days from account opening, the balance transfer fee increases to 5% ($5 minimum).

You’ll also want to be diligent in making your payments on time within the first six months, so you can qualify for the automatic credit line increase. This can be helpful for building credit, by lowering your credit utilization ratio — the amount of credit you use compared to your available credit. Experts recommend keeping this ratio to 30% (and ideally closer to 10%) for the best effect on your credit score. 

After that, continue making timely payments and charging only what you can afford to pay off in full and on time each month. This will help you build your credit score over time while avoiding high-interest debt.

Chase Slate Edge Card Compared to Other Cards

Chase Slate Edge℠

Chase Slate Edge℠

Editor’s Score: (3.2/5)
  • Intro bonus:
    $100
  • Annual fee:
    $0
  • Regular APR:
    14.99 – 23.74% Variable
  • Recommended credit:
    670-850 (Good to Excellent)
  • Learn more externa link icon at our partner’s secure site.
Citi® Double Cash Card

Citi® Double Cash Card

Editor’s Score: (4.4/5)
  • Intro bonus:
    N/A
  • Annual fee:
    $0
  • Regular APR:
    13.99% – 23.99% (Variable)
  • Recommended credit:
    670-850 (Good to Excellent)
  • Learn more externa link icon at our partner’s secure site.
BankAmericard® credit card

BankAmericard® credit card

Editor’s Score: (3.9/5)
  • Intro bonus:
    $100 statement credit
  • Annual fee:
    $0
  • Regular APR:
    12.99% – 22.99% Variable APR on purchases and balance transfers
  • Recommended credit:
    670-850 (Good to Excellent)
  • Learn more externa link icon at our partner’s secure site.

Bottom Line

The Chase Slate Edge isn’t the best card for a 0% intro APR offer, and its unique benefit of reducing your APR by 2% each year won’t be of much value if you practice good credit habits and pay your balances in full each month. 

If you need an extra push to help establish those good habits and work on building a better credit score, Chase Slate Edge’s extra incentives may be worth considering. Still, there are plenty of other credit-building cards to consider, including ones that offer 0% APR for a longer time or long-term rewards on your spending.

*All information about the Chase Slate Edge℠ has been collected independently by NextAdvisor and has not been reviewed by the issuer.

Frequently Asked Questions

Did Chase get rid of the Chase Slate Card?

Chase announced the launch of Chase Slate Edge in 2021, after removing new applications for the former Chase Slate card from its site last year.

What are the benefits of Chase Slate Edge?

Chase Slate Edge offers a $100 statement credit when you spend $500 on your card within six months of account opening. You also get a 0% introductory rate on purchases and balance transfers for 12 months, and a 2% interest rate reduction each year you use your card responsibly.

What is the minimum credit limit for Chase Slate Edge?

The minimum credit limit on the Chase Slate Edge is $500, although the credit limit you’re offered could be higher than that. You can qualify for a credit limit increase after making timely payments and spending at least $500 within the first six months.