Advertiser Disclosure

Compare Credit Cards: Chase Slate vs. Discover it®

Balance Transfer Credit Cards, Credit Cards, Low Interest and No Fee Credit Cards
You can trust that we maintain strict editorial integrity in our writing and assessments; however, we receive compensation when you click on links to products from our partners and get approved. Here's how we make money.
Compare Credit Cards: Chase Slate vs. Discover it

If your 2014 was a little too spendy and you’re ending the year in credit card debt, you may want to consider a balance transfer credit card. The Chase Slate® and Discover it® - 18 Month Balance Transfer Offer are two fantastic options to help you pay down your debt in the new year. Here’s what you need to know in order to decide with balance transfer offer is best for you.

At a glance
Chase Slate® Discover it® - 18 Month Balance Transfer Offer
Annual fees $0 $0
Balance transfer fee $0 for transfers made in the first 60 days 3%
0% APR period 0% on Purchases and Balance Transfers for 15 months, and then the ongoing APR of 15.49% - 24.24% Variable APR 0% on Purchases for 6 months and 0% on Balance Transfers for 18 months, and then the ongoing APR of 11.49% - 23.49% Variable APR
Rewards program None Cash back
Who would want each card?
Good for:
  • Someone who doesn’t want to pay a balance transfer fee
  • Someone who needs assistance creating a debt payoff plan
  • Someone who might miss a payment
  • Someone who wants to earn rewards
  • Someone who shops online frequently
Bad for:
  • Someone who wants to use the card for daily purchases after debt is paid off
  • Someone who wants to avoid balance transfer fees

 

Chase Slate® vs. Discover it® - 18 Month Balance Transfer Offer: The basics

The Chase Slate® has a generous 0% introductory APR offer: 0% on Purchases and Balance Transfers for 15 months, and then the ongoing APR of 15.49% - 24.24% Variable APR. The Discover it® - 18 Month Balance Transfer Offer offers something similar: 0% on Purchases for 6 months and 0% on Balance Transfers for 18 months, and then the ongoing APR of 11.49% - 23.49% Variable APR. The biggest difference between the two cards is that the Chase Slate® charges no balance transfer fees in the first 60 days after you open the card, and the Discover it® - 18 Month Balance Transfer Offer has a rewards program.

Even though the Discover it® - 18 Month Balance Transfer Offer has a longer 0% interest rate period on balance transfers, the Chase Slate® may be better for larger transfers, since there’s no upfront fee as long as move your balance within the first 60 days.

Chase Slate® vs. Discover it® - 18 Month Balance Transfer Offer: Rewards

The Chase Slate® doesn’t have a rewards program. The Discover it® - 18 Month Balance Transfer Offer has rotating 5% bonus rewards categories and 1% back on everything else. Keep in mind though, you’ll only receive the 5% cash back on the following categories on up to $1,500 in spending per quarter.

DISCOVER BONUS CATEGORIES FOR 2017
Q1 (Jan. 1 – March 31)Gas stations, ground transportation and wholesale clubs
Q2 (April 1 – June 30)Home improvement stores and wholesale clubs
Q3 (July 1 – Sept. 30)To be announced
Q4 (Oct. 1 – Dec. 31)To be announced

Rewards can be redeemed for statement credit or direct deposit to your bank account, in any amount, at any time. You can also pay for your Amazon purchases with points, or enjoy a higher points value when redeeming for gift cards.

Chase Slate® vs. Discover it® - 18 Month Balance Transfer Offer: Fees

The Chase Slate® has an annual fee of $0, but it’s real coup is the unheard of balance transfer fee of $0 for balance transfers made in the first 60 days of account opening. After that, future transfers will have a 5% or $5 fee, whichever is higher.

The Discover it® - 18 Month Balance Transfer Offer has an annual fee of $0 and a balance transfer fee of 3%. It boasts no foreign transaction fees, no late fee on the first late payment, no over-the-limit fee, and no penalty APR. If you’re going to miss a payment, this is a great card to miss it on.

Chase Slate® vs. Discover it® - 18 Month Balance Transfer Offer: Additional perks

The Chase Slate® comes with Blueprint, an online program that helps you prioritize and pay down debt. In addition, the card offers price protection and purchase protection. Price protection reimburses you the difference in price if an item you purchase goes on sale within 90 days, up to $500 per item and $2,400 per year. Purchase protection reimburses you if your item is stolen or damaged within 120 days, up to $500 per item and $50,000 per account. It also extends manufacturers’ warranties on qualified items by an extra year.

The Discover it® - 18 Month Balance Transfer Offer offers cardholders their free FICO score on monthly statements and online. But perhaps the best feature of the card is its access to the Discover Deals bonus mall. Depending on the retailer, you’ll receive discounts of 5-20% on your online shopping purchases. Even better, you can get these deals in store with the mobile app, which sets Discover Deals apart from the other issuers’ bonus malls.

The bottom line: Should I get the Chase Slate® or Discover it® - 18 Month Balance Transfer Offer?

The Chase Slate® is best for balance transfers due to its $0 transfer fee. The Discover it® - 18 Month Balance Transfer Offer is better for shopping, with its 5% bonus rewards categories and Discover Deals bonus mall. If you want a card to use for balance transfers, and also to use for daily use once the transferred balance is paid off, go with the Discover it® - 18 Month Balance Transfer Offer.

Arm wrestling image via Shutterstock