Chase Slate Credit Card Review

September 22, 2009 No Comments »
Chase Slate Credit Card Review

The new “Chase Slate credit card” is popping up on the Internet, so I thought I’d take a look at what this credit card actually offers.

It’s branded as a type of credit management card, using Chase’s Blueprint technology, which allows card holders to manage financing terms on their own.

Card holders have the ability to pay certain items (like everyday bills) in full each month, while splitting off more expensive one-off purchases like appliances, TVs, computers, etc.

These high-ticket items can be separated on your statement so you know the associated balance; you can also set a time frame for paying them off by using a goal date or specified monthly payment.

For example, you can pay off groceries and gas in full each month, while putting $50 towards your new plasma TV each billing cycle.

The same can be done for you entire account balance; if you want it all paid off by a certain date, Chase will do the math for you to ensure you stay on track.

These features obviously don’t make much sense for the card holder who makes payments in full each month, and if anything, may promote carrying a balance.

The APR is the same for all purchases so it’s somewhat arbitrary, but I suppose a breakdown of what you owe could motivate card holders to tackle debt faster and/or make a better plan.

It also provides a daily snapshot of your purchases so you know where you’re spending the most.

Chase Slate Offers 0% APR for 15 Months on Purchases and Balance Transfers!

The Chase Slate credit card comes with 0% APR fixed for 15 months on purchases and balance transfers, assuming you qualify for elite and premium pricing.

After the initial promotional period, APR ranges from 13.24% to 22.24%, depending on your level of credit.

There is no annual fee associated with the Chase Slate credit card, and you can execute balance transfers for free!  The only notable charge is a $39 over-the-limit fee.

“Chase Blueprint” is available at no charge for all Chase Freedom, Chase Sapphire, Slate from Chase (formerly Chase Platinum), Ink from Chase, and other business cards.

To sum it up, paying credit card debt in full each month is optimal, but this credit card assumes you’ll carry a balance.

If you have trouble managing your debt and must carry a balance, it could be a good option, though you’ll have to compare the APR and associated finance charges with other credit cards as well.

This is probably an effort by Chase to both promote carrying a balance while also pushing the card holder to pay it down, a tricky endeavor to be sure, but a profitable one assuming it works.

Current Chase Slate Credit Card Offers

Chase Slate recently had a few special offers going on, but consolidated those into a single offer. Fortunately, it’s the best one, the Chase Slate No Fee Balance Transfer! Put simply, it’s only one of two no fee balance transfer cards available at the moment.  And the only other one is set to expire in a month.

In the past there was also the Chase Slate $75 statement credit, which allowed you to earn $75 if you made just $300 in qualifying transactions within the first three months of account opening.

It could also be used to offset the associated balance transfer fee with that offer, and essentially make your balance transfer no fee. But since the no-fee version is now available, this offer was best for someone who wanted the Slate credit card, but didn’t have a balance to transfer. Think of it more as a $75 opening bonus, assuming you made the minimum spend.

So there it is. If any other Chase Slate special offers pop up, I will be sure to add them here for all to see.

(photo: mikewilson)

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