Chase Slate Edge Card Review: Reduce Debt and Improve Your Credit Score
Editor’s Note: This is a recurring post, updated regularly with new information and offers.
Overview of Chase Slate Edge
Chase Slate Edge℠ is designed specifically for consumers who want to improve their financial profile by reducing credit card debt or improving their credit score. This card comes with an extended annual percentage rate (APR) introductory period to help you avoid interest for 18 months (where the variable APR is 20.49–29.24%), along with a Some other incentives after you pay regularly on time. Card Rating*: ⭐⭐⭐
*Card review based on the opinions of the TPG editorial board and not influenced by the card issuer.
At The Points Guy, we know that Correct credit card can unlock a whole host of benefits and rewards that simply aren’t available when you Use a debit card instead of.
But there’s an important note: To avoid credit card interest fees, you must first Pay your balance on time and in full. So if you currently have credit card debt, your first step should be to prioritize reduce your account balance.
Luckily, there are tools to help you avoid exorbitant interest and late fees. One of them is the Chase Slate Edge credit card, yes no annual fee and is specifically designed for people who want to reduce their debt and improve their credit scores over time.
Approved applicants usually have credit score from 670 or more.
We’ll review the Chase Slate Edge to see if it’s the best card for those looking to pay off debt.
Information about Chase Slate Edge has been independently collected by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Pros and cons of Chase Slate Edge
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Chase Slate Edge welcome offer
Chase Slate Edge is not included traditional greetingbut new cardholders can be considered for a credit limit increase after spending $500 in the first six months and paying on time. This isn’t a great welcome offer but it’s better than nothing.
Credit-building cards don’t typically come with significant welcome offers, so I don’t have a negative view of Slate Edge because of this.
It also provides an introduction APR However, for purchases and balance transfers (where the variable APR is 20.49–29.24%), this is helpful for those trying to eliminate high-interest debt.
Related: Top no-annual-fee credit cards with 0% intro APR
Benefits of Chase Slate Edge
Even though you won’t make any money points or refund with the Chase Slate Edge, this card is intended to help rebuild your credit from the ground up.
As mentioned, there is a 0% introductory APR period on purchases and balance transfers for the first 18 months from account opening (after that there is a variable APR of 20.49% – 29.24%). This means you can Transfer your account balance from your current credit card to the Chase Slate Edge and enjoy great 0% interest for a limited time.
Although you will incur an initial balance transfer fee of $5 or 3% of the amount of each transfer, whichever is greater, for the first 60 days (then $5 or 5% of the amount). of each transfer, whichever is greater later), this 18 month period gives you time to strategically pay off your balance as quickly as possible without accruing any any other interest rate.
After the introductory period, you’ll face a variable APR of 20.49%-29.24% on any remaining balance. Luckily, Slate Edge will automatically consider a 2% APR reduction for each account year if you spend $1,000 on your next account anniversary and make pay on timeuntil your APR reaches the base rate plus 9.74%.
Finally, Chase offers user-friendly tools like Credit Journey and My Pursuit Plan to help you manage debt and track progress toward your financial goals.
In short, while you won’t earn any great rewards with this card, it’s more important that you focus on reduce your debt and avoid any ancillary fees first — and Chase Slate Edge provides the tools you need to do it.
Related: 6 things to do to improve your credit
What cards compete with Chase Slate Edge?
Some simple starter cards compete with the Chase Slate Edge; Here are a few options I recommend:
- If you want extra rewards: the Citi Double Cash® Card (see exchange rates and fees) has no annual fee but gives cardholders the opportunity to earn valuable rewards Cashback rewards. You earn 1% when you make purchases and another 1% when you pay off your balance on those purchases. That’s a solid 2% bonus rate on all your purchases, which can definitely help you earn more over time. To learn more, read ours Full review of Double Cash.
- If you have a low credit score: You may want to consider a secured credit card, for example Capital One Platinum Secured Credit Card. This card lets you determine your credit limit by placing a fully refundable deposit of up to $1,000. You will automatically be considered for a credit limit increase after six months, encouraging users to hone their credit strategies and rebuild their credit scores. To learn more, read our Full review of Capital One Platinum Secured.
- If you want a refund: the Chasing Flex® Freedom offers cardholders the ability to earn 5% cash back on rotating categories quarterly (up to $1,500 in combined purchases each quarter), 5% on travel purchases through Chase Travel℠ and 3% on dine-in at restaurants (including eligible takeout and delivery) and at pharmacies. To learn more, read ours Full review of the Chase Freedom Flex.
For more options, see our full list of best security card And Best starter card.
Read more: What is a secured credit card?
Is the Chase Slate Edge worth it?
If one of your immediate goals is to reduce credit card debt, the Chase Slate Edge can be an important tool to Unlock financial freedom once and forever. I consider this a great option if you are trying to rebuild your credit score. Just note that you won’t earn cash back, points or miles on your purchases.
Bottom line
Chase Slate Edge can help you rebuild your credit and establish healthy credit habits, allowing you to move Bigger and better credit cards that can help you earn maximum rewards on all your purchases.
The card’s extended introductory APR (followed by a variable APR of 20.49–29.24%), along with other incentives to help you pay on time, make this card a great addition. Supplement worthy of any payment. wallet for beginners.
Related: The best time to apply for these popular Chase credit cards is based on offer history
