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Chase Slate Review: One Great Get-Out-of-Debt Credit Card

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Chase Slate Review

Chase Slate®: Quick review

Anyone in the market for a cost-effective get-out-of-debt card should start by looking at the Chase Slate®. It has a $0 fee for balance transfers in the first 60 days after opening the account. It offers a lengthy 0% APR on both purchases and balance transfers. And the annual fee is $0. All those zeroes add up to more money available to pay down your debt.

Chase Slate® Editor's Rating: 4.2 / 5

Applying for another credit card might seem foolish if you’re dealing with a pile of debt. But if you’re thinking about getting the Chase Slate®, you’ve got the right idea.

This card is one of the Nerds’ favorites for balance transfers because of its rare combination of features that can help dedicated debtors get out of the red faster. Curious about how the Chase Slate® can help you? Let’s take a look.

The Chase Slate®: Basics and benefits

At first glance, the Chase Slate® seems a little ho-hum because it doesn’t offer a sign-up bonus, and you won’t earn rewards. But the Chase Slate® isn’t an everyday credit card. It specializes in one thing: helping users pay off their credit card debt. On that front, the Chase Slate® really delivers.

$0 introductory balance transfer fee

The Chase Slate® charges no fee for balances transferred to it within 60 days of opening your account. This feature gives it a huge edge over most other cards, which typically charge 3% to 5% of the amount transferred. However, after 60 days, the Chase Slate® does charge a fee: 5% of the amount transferred or $5, whichever is greater.

Although a 5% fee might not sound like much, it can really cut into the overall savings you’ll see from doing the balance transfer in the first place. For example, on a $10,000 balance, you’d have to pay $500 fee right off the bat. That’s a hefty chunk of change that would be better spent paying down your balance.

Long 0% APR period

Need a year to pay down your debt? You’ll get it (and then some) with the Chase Slate®. It offers an introductory APR of 0% on Purchases and Balance Transfers for 15 months, and then the ongoing APR of 16.24% - 24.99% Variable APR. In that amount of time, you should be able to seriously slim down your balance.

$0 annual fee

The Chase Slate® can save you big bucks on interest and balance transfer fees. To drive the deal home, it also charges an annual fee of $0. It’s tough to beat the Chase Slate® if you’re looking for a truly cost-effective way to pay down your debt.

Free FICO scores

Reducing your debt could really help you boost your credit score, since a large percentage of your score is tied to the amounts you owe. To help you track your progress, Chase gives you free access to your FICO score, as well as other tools to help you understand the reasons behind your credit score.

» MORE: Chase credit cards mobile app review

Nerd tip

Before you apply for the Chase Slate®, be aware of these restrictions on the debt you can transfer to it:

  • 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.

Chase Slate®: Pitfalls and other possibilities

Even great credit cards have drawbacks to consider. Here are a few of the Chase Slate®’s you should know about:


The Chase Slate® is a low-cost tool for paying down your debt. But if you’re looking for a card that earns rewards, you’ll have to look elsewhere. The Discover it® - 18 Month Balance Transfer Offer is a decent alternative. It gives you an introductory APR of 0% on Purchases for 6 months and 0% on Balance Transfers for 18 months, and then the ongoing APR of 12.24% - 24.24% Variable APR. As far as rewards go, you’ll earn 5% cash back in rotating quarterly bonus categories (up to $1,500 spent per quarter) and 1% cash back on all other purchases. You’ll also have access to Discover Deals, a robust shopping program that could help you score discounts or bonus cash back. All of these great perks come at an annual fee of $0. The major drawback: A 3% balance transfer fee.

Need good credit to qualify

To be approved for the Chase Slate®, you’ll generally need good credit. That can be an obstacle for people whose credit scores have suffered as they’ve fallen into debt. If you’re unsure, start with NerdWallet’s prequalification tool for Chase credit cards.

For more information on finding the right balance transfer credit card for you, visit NerdWallet’s roundup of the best credit cards to apply for.

Is the Chase Slate® the right card for you?

The Nerds have long considered the Chase Slate® to be one of the best cards for people with good credit who are trying to refinance credit card debt. It provides a triple whammy of savings on interest, balance transfer fees and annual fees. Use the Chase Slate® to get started on accomplishing your debt-free goal today.

Last updated June 29, 2017.

Lindsay Konsko is a staff writer covering credit cards and consumer credit for NerdWallet. Follow her on Twitter @lkonsko and on Google+.