Chase has launched a new credit card called ‘Chase Slate Edge‘. Chase removed the ‘Chase Slate’ card from it’s card lineup in April 2020 and this is the replacement rebuilder/new to credit card from Chase. It offers the following:
- $100 statement credit after you spend $500 in purchases within the first six months
- 0% introductory APR for the first 12 months for purchases and balance transfers
- Balance transfer fee of 3%, with a minimum of $5. After 60 days, that fee becomes 5%, with a minimum of $5
- No annual fee
- Reduce APR by 2% every year that you spend $1,000 in a cardmember year
- Ability to increase your credit limit when you spend $500 0r more and pay on time for the first six months
I’m assuming that the Chase 5/24 rule applies to this card as well. It’s not clear what the balance transfer fee is currently as the pricing & terms page errors out. For most readers this card really isn’t that interesting as they have good credit and access to much better credit card sign up bonuses. How useful the 0% APR is will depend on what the balance transfer fee is. The card itself has some interesting features for people with no/bad credit (e.g ability to increase credit limit) but things like the 2% APR reduction really shouldn’t be that interesting as credit card APRs are so high that you want to avoid carrying a balance at all costs. I suspect we will start to see more and more 0% APR and $0 BT offers as we exit the pandemic and financial uncertainty.
