The bottom line: It offers a triple crown of balance transfer benefits, making it ideal for anyone looking to pay down debt — though there's little incentive to use it after you've paid off your balance.
16.49% - 25.24% Variable APR
0% on Purchases and Balance Transfers for 15 months
Recommended Credit Score
- 0% Intro APR for 15 months on purchases and balance transfers. After that, 16.49% - 25.24% variable APR.
- $0 Intro balance transfer fee for the first 60 days your account is open. After that, the fee for future transactions is 5% of the amount transferred with a minimum of $5.
- Free credit score, updated weekly with Credit Journey℠
Pros & Cons
No annual fee
$0 Intro fee on transfers made within 60 days of account opening
Long 0% Intro APR Period
Can't transfer debt from another Chase account
Alternate Pick: Earn ongoing rewards
Amex EveryDay® Credit Card
Get a welcome bonus and avoid a balance transfer fee
Earn 10,000 Membership Rewards® Points after you use your new Card to make $1,000 in purchases in your first 3 months. Terms Apply. Earn 2 points at U.S. supermarkets on up to $6,000 per year in purchases (then 1 point back). Use your card 20 or more times on purchases in a billing period and get 20% more points on those purchases. Terms apply. The annual fee is $0. You'll pay 0% Intro on Purchases and Balance Transfers for 15 months, and then the ongoing APR of 14.49% - 25.49% Variable APR.
The Chase Slate® solves a pesky issue common among balance transfer cards: the balance transfer fee. During the first 60 days, it doesn't charge one.
That makes it one of the rare "triple-zero" products for transfers, offering a promotional $0 balance transfer fee, a $0 annual fee and a lengthy 0% intro APR period. It's a worthy contender for this particular use.
Long term, however, the Chase Slate® is a basic, no-frills card: no rewards, no sign-up bonus and not much of a reason to keep using it once you've paid off your balance. If you're looking for such incentives, other balance transfer cards may be a better fit — even ones that charge balance transfer fees.
Chase Slate®: The basics
Card type: Balance transfer.
Annual fee: $0.
APR: 0% on Purchases and Balance Transfers for 15 months, and then the ongoing APR of 16.49% - 25.24% Variable APR.
Sign-up bonus: None.
Balance transfer fee: Introductory $0 during the first 60 days your account is open, then 5%, with a minimum of $5.
Foreign transaction fee: 3%.
No penalty APR.
Complimentary three-month DashPass membership, which waives the delivery fee on DoorDash orders over $12. (DashPass ordinarily costs $9.99 per month.) After that, you are automatically enrolled in DashPass at 50% off for the next nine months. Activate the offer by Dec. 31, 2021.
Why you might want the Chase Slate®
A way to avoid a balance transfer fee
Transfer a balance within 60 days of opening your credit card account and you'll pay a $0 fee. Compared with the 3% to 5% fee typical of balance transfer cards, this can offer real savings at a time when you're already trying to pay down debt. After that 60-day window, however, you'll pay a 5% fee on the transferred balance, with a minimum of $5, so act fast.
A long 0% intro APR period
The card offers an intro 0% on Purchases and Balance Transfers for 15 months, and then the ongoing APR of 16.49% - 25.24% Variable APR.
You can Qualify with average credit
Most balance transfer cards require good to excellent credit to qualify (typically a FICO score of 690 or higher). But applicants with average credit — aka "fair credit," meaning scores of at least 630 — may also be eligible for the Chase Slate®.
No penalty APR
With some cards, a late payment can increase your interest rate dramatically, and that rate stays sky-high until you've made on-time payments for several months. That's not the case with the Chase Slate®. Keep in mind, however, that you may still be charged a late fee of up to $39. And in general, paying late can also harm your credit scores.
Drawbacks and alternatives
If your plan is to transfer a balance and pay down debt while making no new charges on your card, earning rewards may not be a priority for you. But some balance transfer cards offer benefits that encourage you to hold onto them long after you get out of debt. The Amex EveryDay® Credit Card combines a $0 balance transfer fee (for transfers made within 60 days) with this welcome offer: Earn 10,000 Membership Rewards® Points after you use your new Card to make $1,000 in purchases in your first 3 months. Terms Apply. You can earn ongoing rewards, too: 2 points per $1 spent at U.S. supermarkets on up to $6,000 in spending per year (1 point per $1 after that), and 1 point per $1 everywhere else. Plus, get 20% more points by using your card 20 or more times within a billing period. Terms apply. The annual fee is $0.
Other cards offer longer 0% APR periods
If you need a longer interest-free window on a balance transfer, consider the Discover it® Balance Transfer (No longer in market). It does charge a 3% introductory balance transfer fee, and up to 5% fee on future balance transfers (see terms). But it offers an intro 0% on Purchases for 6 months and 0% on Balance Transfers for 18 months, and then the ongoing APR of 11.99% - 22.99% Variable APR. And you'll earn rewards, too: 5% cash back on rotating quarterly categories on up to $1,500 in purchases each quarter (activation required); 1% after that. Bonus categories in the past have included things like grocery stores, restaurants, gas stations and more. The annual fee is $0.
For a longer 0% intro on purchases, take a look at the U.S. Bank Visa® Platinum Card. Pay an intro 0% APR for 20 billing cycles on purchases and balance transfers, and then the ongoing APR of 13.99% - 23.99% Variable APR. You'll be subject to a 3% balance transfer fee, but the extra time may make the cost worth it. Plus, the card offers relatively rare cell phone insurance. The annual fee is $0.
Should you get the Chase Slate®?
The primary draw of the Chase Slate® is the opportunity for a $0 balance transfer fee, and it's especially attractive for anyone with average credit who may not qualify for other balance transfer cards.
But if you have at least good credit, you may want to opt for a card that offers rewards or some kind of incentive for continued use long after your balance is paid off.
Information about the Amex EveryDay® Credit Card has been collected independently by NerdWallet and has not been provided or reviewed by the issuer of this card.
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