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Chase Slate® Review: New Members Transfer Balances With No Fee and 0% APR

By Nick Cole
By Nick Cole

If you're tired of treading water with a high-APR credit card balance, the Chase Slate® card could be a solution to eliminating your debt more efficiently.

A 15-month period for 0% APR on balance transfers coupled with a 60-day period of $0 balance transfer fees creates an opportunity to start fresh with your credit card balances.

This balance transfer credit card does not have the bells and whistles of the top reward cards on the market, but it delivers in the areas that could help you eliminate mounting credit card interest.

In this review, we’ll take a closer look at the key characteristics of the card, calculate just how much money you could save by transferring your balance and compare it with one of the other top balance transfer cards on the market.

Table of Contents

Team Clark has spent time evaluating the credit card market for categories like best options for balance transfers and 0% APR introductory periods.

The Chase Slate card qualifies as one of the top balance transfer cards to consider due to its introductory period for both balance transfer APR and for waiving balance transfer fees. The 15-month 0% APR period for new purchases is nice, too, but you may find options with better perks in that category.

As you're making your decision on whether the Chase Slate card is a fit for you, please use Team Clark's review of the card in conjunction with money expert Clark Howard's 7 Rules for Using Credit Cards.

What Is the Chase Slate Card?

Chase Slate is a balance transfer credit card that offers new cardmembers the chance to move existing credit card debt to a new card with minimal fees and introductory 0% APR interest.

The card offers a 60-day window for transferring existing balances without a fee (a 5% fee applies after that trial period) and includes a 15-month period for 0% APR on both balance transfers and new purchases. Chase Slate does not have an annual fee.

Chase Slate: Specs and Perks

Before we get too far into whether or not this credit card is the right choice for you, let’s take a look at some of the perks and drawbacks of the card from the fine print:

Bonuses and Perks

  • Introductory APR on Balance Transfers: The Chase Slate card offers a 15-month introductory period for 0% APR on balance transfers. Beginning in the 16th month, any balance transferred to the account would be subject to your assigned balance transfer APR (based on Chase's evaluation of your credit profile).
  • Waived Balance Transfer Fee: For the first 60 days of card membership, Chase waives the balance transfer fee for this card. This is what sets this card apart from many of its competitors, as that two-month window will allow you to bring an existing credit card balance over without having to pay the 5% transfer fee. For example, that would save you $500 on the transfer of a $10,000 credit card balance.
  • Introductory APR on New Purchases: Chase Slate comes with a 15-month period of 0% APR on new purchases. You will be charged your regularly assigned APR (varies based on credit assessment) on purchases and any remaining balance beginning in the 16th month.
  • DoorDash Subscription Deal: You receive a complimentary three months of food delivery from DoorDash's DashPass with the Slate card, then nine more months at a discounted rate. Per Chase, "DoorDash's subscription service that provides unlimited deliveries for a $0 delivery fee on DoorDash orders over $12 (other fees may apply). After that, you are automatically enrolled in DashPass at 50% off for the next 9 months."

Cardholder Benefits

  • No Penalty APR: While making a late payment on this card may cost you a late payment fee and additional interest on your balance, Chase will not raise your APR as punishment.
  • Free Credit Score: You can get weekly updates to your credit score and the elements that impact your score through Chase's Credit Journey program.
  • Purchase Protection: Chase offers protection on new purchases made with this card "for 120 days against damage or theft up to $500 per claim and $50,000 per account."
  • Fraud Monitoring: Chase includes its "Real-Time Fraud Monitoring" program with this card, meaning you'll get early updates if there is suspicious activity with your account.

Cardholder Fees

Here’s a quick look at some of the fees you may encounter with the Chase Slate card:

  • Annual Fee: None
  • Balance Transfer Fee: $0 for the first 60 days, then the greater amount of $5 or 5% of balance transferred
  • Cash Advance Fee: $10 or 5% of the amount, whichever is greater
  • Foreign Transaction Fee: 3% of the purchase amount when converted to U.S. dollars
  • Late Payment Fee: Chase charges up to $39 for both late payment fees and returned payment fees

How to Best Use the Chase Slate Card

The best use for the Chase Slate is as a means of credit card debt elimination. Though it does tempt new users with a 15-month 0% APR period on new purchases, this card has no rewards program, cash back program or any real perks that would make it attractive for long-term spending.

What it does have that many cards don’t is a healthy 0% APR period for balance transfers and a 60-day period for making balance transfers without a transfer fee. So, for best use of this balance transfer card, you’re going to want to have a substantial amount of existing credit card debt ready for transfer to this new account within the first two months of card approval.

Your willingness to move quickly after applying for the card will definitely save you money in the payoff process.

Note: Unfortunately, if you already have a credit account with any J.P. Morgan Chase entity, that balance is ineligible for a transfer to this card with the promotional 0% APR. That means any credit card balance that you move to this card for the introductory rate must come from another credit provider.

How Much Money Can You Save With a Chase Slate Balance Transfer?

Let’s take a look at how acting quickly with balance transfers to the Chase Slate could save you some money.

For the purposes of this exercise, we’re going to make some assumptions:

  • We'll use 16.14% as the theoretical APR for the card holding a balance. Per CreditCards.com, this was the national average for an APR as of April 2020.
  • We're going to assume that 15 months is the target payoff time frame for the debt. That's the maximum period you could carry the balance on the Chase Slate without paying interest.
  • We're going to assume that you are able to move your balance to the Chase Slate in time to get the $0 transfer fee and enjoy all 15 billing periods of 0% APR.
  • We will use Capital One's handy credit card calculator to crunch the numbers on our fictitious 16.14% APR credit card balance. We will not make adjustments for any card-specific minimum payment requirements.
  • Totals will be rounded to the nearest dollar.
Credit Card BalanceCost of Keeping Balance with Average APR CardMoney Saved by Moving to Chase Slate
$250$278$28
$500$555$55
$750$833$83
$1,000$1,111$111
$2,500$2,777$277
$5,000$5,555$555
$10,000$11,110$1,110

As you can see, an early move to take advantage of the $0 balance transfer fee with the Chase Slate could help you save more than $1,100 on a $10,000 balance transfer.

Final Thoughts

Are you considering adding the Chase Slate to your wallet? Let's review some of the pros and cons of the card before you make your final decision:

Chase Slate: Pros and Cons
Pros Cons
0% APR on new purchases and balance transfers for 15 months No rewards program
60-day period for balance transfers with no fee No cash back opportunities
No annual fee or penalty APR for late payment Unable to do a balance transfer from another Chase card

Bottom Line: If you are in the market for a balance transfer card, it's hard to argue against the Chase Slate card. With no annual fee, an introductory period that allows for balance transfers without fees and interest-free payments, it essentially serves as a 15-month path to eliminating your existing credit card debt for good.

This card has no rewards program and no perks that would justify having it in your wallet for the long-term, so there is little use for it beyond the initial 0% APR balance transfer period. Still, it could be a great short-term solution for credit card debt elimination.

Do you have experience with the Chase Slate card? Let us know how you like it in the comments below!

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