Be honest: You usually only go after credit card offers that carry big rewards. We don’t blame you, but the Nerds think the Chase Slate® should be an exception to your rule. It’s a high-value card, even though it doesn’t provide a points, miles or cash-back program.
Not convinced? Here are 3 good reasons to apply for the Chase Slate®:
1. You’ll get a stellar introductory 0% APR period
The Chase Slate® is our top pick for good credit folks looking to save money on finance charges by doing a balance transfer. One of the main reasons is that it offers an impressive introductory 0% period: 0% on Purchases and Balance Transfers for 15 months, and then the ongoing APR of 15.74% - 24.49% Variable APR.
Although this isn’t the longest interest-free offer on the market, the Chase Slate® still delivers over a year without finance charges. Again, this makes it great for refinancing debt you’re carrying on another card, or paying for a big-ticket item that you don’t have the cash for.
2. You won’t have to pay a balance transfer fee
Again, the Chase Slate® is no slouch when it comes to its 0% offer, but that feature isn’t actually what makes the card special. The Chase Slate® really stands out because it waives its 5% balance transfer fee if you move your debt onto it within 60 days of opening your account. It’s worth mentioning that this is the only balance transfer credit card that we know of that offers this deal.
A 5% fee might not sound like much, but balance transfer fees can really eat into the savings you’re planning to realize by refinancing your debt. Here’s a quick example to put this into context: If you’re trying to bring down the rate you’re paying on a $10,000 balance, you’d have to pay $500 up-front with most 0% cards just to access the interest-free offer.
But if you act fast with the Chase Slate®, you can reinvest that money you’ve saved into your debt payoff. This provision is what makes the Chase Slate® stand out from the crowd – after all, there aren’t too many cards on the market that make it cheap and easy to get out of debt.
Before applying, here are a couple caveats to consider:
- The amount you transfer (including fees and interest) can’t exceed $15,000 or your credit limit, whichever is lower.
- You can’t transfer debt from another Chase account.
If your debt fits that description, and you have excellent credit, the Chase Slate® could be a great fit.
3. The Chase Slate® charges an annual fee of $0
We assume that you’re already blown away by the Chase Slate®’s 0% offer and the fact that it provides a way out of paying a balance transfer fee. But now consider that all of these great perks come at an annual fee of $0 – pretty impressive, right?
Again, we can’t think of another card this determined to help you save money. In that sense, the $0 actually does provide a “reward” after all!
Image via iStock.