Chase Slate Edge Review: Pros, Cons, and More


Top perks

The Chase Slate Edge℠ has several features, with the highlight being its 0% intro APR offer.

0% intro APR on purchases and balance transfers

This Chase card has a 0% intro APR on purchases and balance transfers for 12 months from account opening. There are two ways to take advantage of this offer:

  • Make one or more big purchases and pay them off within a year with no interest charges.
  • Transfer credit card debt so you can pay it down with zero interest during the intro period. Note there is a balance transfer fee of 3% with a $5 minimum for the first 60 days. After that, the fee goes up to 5% with the same $5 minimum.

Some of the best 0% intro APR credit cards offer longer introductory periods, so it is worth considering the length of the offer you need before applying for this card.

$100 sign-up bonus

You earn a $100 statement credit after you spend $500 on purchases within the first six months. Although it’s not one of the biggest sign-up bonus offers, it has a low spending hurdle to clear.

The sign-up bonus also pairs well with this card’s 0% intro APR on purchases. Let’s say you need to make a $1,000 purchase. With the Chase Slate Edge℠, you could save $100 thanks to the sign-up bonus and pay off the remaining balance of $900 interest free within 12 months. 

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No annual fee

The Chase Slate Edge℠ has no annual fee. No annual fee credit cards like this are a good choice when you’re keeping extra costs to a minimum.

Automatic credit limit review

If you spend at least $500 in the first six months and pay on time, Chase will automatically review your account for a credit limit increase. There’s no guarantee Chase will increase your credit limit, and this is something you could request on your own. It’s still helpful that Chase does it automatically.

APR reduction

One of the most unique Chase Slate Edge℠ benefits is the opportunity to get an APR reduction. If you make at least $1,000 on purchases in an account year and pay on time, Chase will review your account for a 2% APR reduction on purchases, balance transfers, and a My Chase Loan. Your card’s APR can be reduced until it reaches 9.74% plus the Prime Rate (which can vary).

As unique as it is, this is a minor benefit that shouldn’t weigh too heavily when you compare credit cards. It’s better to pay off your credit card balance in full every month to avoid interest charges entirely. Even with an APR reduction, carrying a balance isn’t recommended.

Purchase and travel protections

On eligible purchases, the Chase Slate Edge℠ offers these complimentary protections:

  • Purchase protection: Covers new purchases for 120 days against damage or theft up to $500 per claim and $50,000 per account.
  • Extended warranty protection: Extends the time period of the U.S. manufacturer’s warranty by one year on eligible warranties of three years or less.
  • Auto rental collision damage waiver: Covers most rental cars in the United States and abroad for theft and collision damage. You must decline the rental company’s collision coverage and charge the entire rental cost with your Chase card. In the United States, coverage is secondary to your personal insurance.
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View more information: https://www.fool.com/the-ascent/credit-cards/chase-slate-edge-review/

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