Chase Slate Edge Map Review

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At the start of the pandemic, Chase removed the Chase Slate credit card from its product offerings, but now introduced the Chase Slate Edge℠ card in its place. The card is simple in its benefits, but for consumers looking for spending flexibility, it’s a solid option to consider.

The card was designed for consumers looking for a reduction in credit card interest rates and who may wish to consolidate their credit card debt. And with the holiday season quickly approaching, it may make sense for some to have an interest-free period on their credit cards.

Here’s what you need to know about the Chase Slate Edge map.

Chase Slate Edge review

Chase slate edging℠

  • Awards

  • Welcome bonus

    Earn $ 100 on your credit card statement when you spend $ 500 in the first six months after opening the account

  • Annual subscription

  • Intro APR

    0% for the first 12 months on purchases and balance transfers

  • Regular APR

    14.99% to 23.74% variable

  • Balance transfer fees

    Either $ 5 or 3% of the amount of each transfer, whichever is greater in the first 60 days

  • Foreign transaction fees

  • Credit needed

Benefits

  • No annual fee
  • $ 100 welcome bonus
  • Interest-free period for the first 12 months on purchases and balance transfers
  • Reduce your interest rate by 2% every year: automatically get an APR reduction when you pay on time and spend at least $ 1,000 on your card by your next account anniversary

The inconvenients

  • 3% foreign transaction fees
  • No rewards program

Main advantages

This card can help cardholders increase their credit score, consolidate debt, and reduce the amount they pay in credit card interest. Slate’s 0% APR for the first year and the ability to reduce the APR over time can be helpful for those who carry month-to-month balances. Here are the main advantages of the Chase Slate Edge℠:

  • 0% introductory APR on purchases and balance transfers for 12 months upon account opening (3% balance transfer fee)
  • $ 100 bonus credit when you spend $ 500 in the first 3 months (limited time benefit)
  • Automatically takes into account a 2% APR reduction if you make all payments on time and spend $ 1,000 by your next account anniversary date
  • Automatic eligibility for a credit limit increase if you spend $ 500 in the first 6 months

While the primary benefit of the 0% APR expires after the first 12 months, this card may be worth keeping beyond the interest rate reduction. However, rather than paying interest after the 12 months, you can consider transferring your balance to another 0% APR credit card, or taking out a personal loan that may have a lower rate and save you money. long term money.

Automatic eligibility for a line of credit increase can help you increase your credit score as it would give you a large line of credit and therefore likely lower your credit utilization rate.

Awards

The card does not earn any reward for spending. So if you need a 0% APR rate credit card with rewards, you may want to consider another card.

Additional advantages

The card comes with a few additional benefits:

  • Chase Purchase Protection – Covers purchases for 120 days against damage or theft
  • Rental Vehicle Collision Damage Waiver – If you decline the rental company’s collision damage waiver and charge the full cost of the rental to your card, coverage is provided for theft and vehicle damage. collisions.
  • Access to Chase digital credit tools like Credit Journey and My Chase Plan

Fresh

If you’re interested in a balance transfer, there is a 3% fee to do so, or a minimum of $ 5. However, that 3% may be worth paying if you pay a much higher interest rate elsewhere.

Plus, the 3% is a promotional rate for the first 60 days of card membership. After 60 days, this fee becomes 5%, with a minimum of $ 5.

The card charges an overseas transaction fee of 3% for purchases made outside of the United States

The card has no annual fee.

What does the Select Edge compete with?

The Chase Slate Edge Card enters an extremely competitive space of balance transfer credit cards and 0% APR credit cards. Here is how it compares to the competition.

Chase Slate Edge vs Chase Freedom Flex℠

Between these two Chase products, the easy winner is the Chase Freedom Flex℠. With a 0% APR offer for 15 months, the ability to earn up to 5% cash back on specific purchases, and a $ 200 bonus offer, the scales are quickly tipping towards Freedom Flex.

However, if you keep a month-to-month balance, the Slate Edge card will prove to be a better card for its favorable interest rates and incentives to keep lowering rates.

Chase Slate Edge vs. US Bank Visa® Platinum Card

If your goal is to have the longest 0% APR rate possible, the US Bank Visa® Platinum card is the best card for you. You’ll get an introductory 0% APR on purchases and balance transfers for 20 billing cycles.

If the duration of the APR is not your main priority, the benefits vary between the two. The Chase Slate Edge offers a welcome bonus of $ 100, as well as perks like purchase protection, extended warranty, and rental car coverage. The American bank Visa Platinum offers cell phone insurance.

At the end of the line

The Chase Slate Edge card is a solid option for those looking for simplicity and to avoid accumulating credit card interest. However, if you plan to spend with the card regularly, it may be beneficial to select a different card to earn credit card rewards.

Editorial note: Any opinions, analysis, criticism or recommendations expressed in this article are the sole responsibility of the editorial staff of Select and have not been reviewed, endorsed or otherwise approved by any third party.

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