Chase Slate Credit Card Review

Posted by Mayank on February 8, 2014 in Personal Finance

Credit cards when used irresponsibly become a cause of ills in our daily lives. It is interesting to note that Chase Slate is one credit card, which promises to help you get managed and get rid of bad credit. The Slate credit card from Chase offers 15 months of interest-free financing on both new purchases and balance transfers. Additionally, it is the only card currently on the market that will allow you to transfer a balance without paying a balance transfer fee of 3% or more if you avail the offer within 60 days of your card application.

The Chase Slate credit card has been around for a few years now and I also owned it for about half a year. I used it to spend an upwards of about $4k and if I try to recall why I applied for the card – the decision can best be termed as naive or foolish. I did not use the card for balance transfer option and hence, the card turned out to be an absolute bad decision for me. The card does not provide any points towards purchases made with the credit card – not a single one.

Features of Chase Slate Credit Card

Chase Slate credit card has only one feature, which is the 0% APR on balance transfers and purchases and there are a few other credit cards, which have a competitive product. Here are the some of the features promoted by Chase:

  1. 0% APR for 15 months on purchases and balance transfer.
  2. 0% transaction fees when you avail the balance transfer within 60 days of purchase.
  3. $0 annual fees
  4. Purchase protection – Covers your new purchases for 120 days against damage or theft up to $500.00 per claim and $50,000 per account.

chase slate review

Earlier Chase used to highlight the Blueprint program option with this credit card and it did not make sense to anyone – fortunately they do not promote it any longer. Essentially what the Blueprint program did was to help you avoid unnecessary interest and it gives you a plan for you to pay your balances down faster.

With numerous money management(both paid and free) available in the market today, I always wondered why this feature makes the card a compelling buy. I was right – it did not and the feature is no longer being promoted.

Alternative to Chase Slate

Though it does not come equipped with anything comparable to Blueprint, the Citi Diamond Preferred is a great competitive card to Chase Slate. The balance transfer option is almost as good (18 month at 0% APR). Neither card charges an annual fee, but you get a lower transfer fee with Slate.

The Citi Diamond preferred also offers a suite of perks you won’t find with Slate. Some of the benefits include access to presale tickets, preferred seating, VIP packages and various live entertainment experiences.

Conclusion

You should buy Chase Slate credit card only if you wish to avail the balance transfer or make use of the 0% APR. If that is not the case, there are several other better cards in the market today, which will get you a great signup bonus when you apply for the card. If you wish to apply for Chase Slate – click here.

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