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 16.24% - 24.99% 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.
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.
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?
In that sense, the $0 actually does provide a “reward” after all.
Image via iStock.