Edited by: Kellie Jez
Great Card If
- You need to begin building your credit
- You can make use of a 0% APR for purchases and balance transfers (if you’re in debt and need consolidation, starting a business, etc.)
- You need a card that offers you a free FICO score (and has no annual fee!)
Don’t Get If
- You are looking for a points-building card
- You want a card with lots of fringe benefits
Chase Slate Card Welcome Bonus
Right now, when you sign up for the Chase Slate card, you will get an intro APR on both purchases and balance transfers (see card summary table above)!
That’s a great deal for those who need to float some cash for one reason or another, whether you’re starting your own business or you’ve hit a temporary hard time.
This is great for getting out of debt!
Advantages of the Chase Slate Card
If you’re trying to build credit, you’ve got to start somewhere and we suggest that your first card should be one with $0 annual fee.
This is because you want to open the card and never close it again to keep your active account age as high as possible! This is a perfect card to do that with.
Your other big advantage with opening up this card is that it offers you a free FICO score! Currently, this is the only Chase card that offers this benefit, and it is a great tool to use to build credit.
Tracking your score monthly allows you to see when you can afford to open a new card, and the card offers you the ability to do this for free.
Using the Card for Debt Consolidation and Cash Flow
Whether you’re in debt or need cash, this card offers a longer intro APR period than most other cards. You typically have over a year to pay back your purchases and balance transfers.
If you are looking for a balance transfer, you can also typically get no fee transfers for your sign-up bonus.
While we don’t recommend holding balances, inevitably many of us have had to do it at some times in our lives. If you do, we always recommend doing this as smartly as possible.
Along those lines, if you do happen to miss a payment after your APR period ends, then you won’t be stuck with a high penalty APR…because there isn’t one!
That being said, don’t miss any payments during your intro APR period, because that typically ends your introductory offer period and leaves you with a bunch of interest to pay.
If you need help paying off your card, you can utilize the Chase BluePrint tool, which is a great tool to help you pay off balances and save on interest.
Lower Interest Rates Than Other Cards
Another advantage of the Chase Slate card is its lower interest rates. Although variable, they start pretty low compared to most cards. Other cards may start at 15% or more, and every percentage can really make a difference.
The more trustworthy you prove as a cardholder, the better your credit score will be, and ultimately the better your interest rates will end up.
Alternatives to the Chase Slate Card
Obviously, the major drawback from our standpoint at Upgraded Points is that there are no card rewards, points, or cash-back opportunities.
Essentially, any spending you put onto this card will give you no bonuses besides building credit.
Some alternative no-annual-fee cards you could use that would earn points (or at least cash-back) are the following:
- Citi® Double Cash Card
- Chase Freedom® Card
- Citi® Hilton Honors™ Visa Signature® Card
- Discover it Miles Card
There really aren’t any other drawbacks; the card is meant for a very specific purpose and it does that very well!
The information regarding the Capital One Quicksilver Cash Rewards Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Chase Slate® Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Chase Freedom® Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Citi® Hilton Honors™ Visa Signature® Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Discover It® Miles Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
Frequently Asked Questions
The card is a no annual fee credit card offered by Chase. While the card does not earn any points or have many benefits, it is a great starter card for those who need credit.
Currently, the card offers a 0% intro APR for 15 months, and it is the only Chase card to offer the free FICO score at this time. This is great for tracking your score and helping you open new cards.
The card is accepted anywhere that accepts Visa, and is also usable with the chip and pin technology processors.
The monthly minimum payment formula will be in your cardmember agreement. It is usually a $25 minimum and increases per the size of your balance. For instance, a $10,000 balance may have a $100 minimum payment.
Check your cardmember agreement for details.
You will pay 3% in fees for using this card overseas.
Improving your credit limit has to do with your credit score. If the bank trusts you, then you’ll be able to improve your credit limit. If your score is low, you likely haven’t shown much trustworthiness.
In order to improve your credit limit, you should call your customer service agent at Chase. Sometimes, they will automatically increase your credit limit over time, but not always.
This depends on what you are looking for. If you want a points card, then the Chase Sapphire Preferred® Card is the better choice. However, if you are just looking to build credit, the Chase Slate card is the better choice.
The Chase Sapphire Preferred® Card costs $95/year, while the Chase Slate card has no annual fee (but offers you a free FICO score!).
Both of these cards would be a great starter card, since both have no annual fees. However, the Chase Freedom® earns cash-back, which will help you earn travel rewards if combined with a Chase travel card.
The Chase Slate card offers you a free FICO score, which the Chase Freedom Card does not. On the other hand, you will get some low-level insurance benefits with the Chase Freedom Card which the other card does not have.
Both cards are offered at no annual fee, and therefore would be good basic credit building cards. The Capital One Quicksilver Cash Rewards Credit Card offers a flat 1.5% cash-back for all purchases, helping you reduce your bills!
The Citi® Double Cash Card is another no annual fee card that would work in place of the Chase Slate card as a credit builder. The Citi® Double Cash Card offers a 2% total cash-back (1% when you buy and 1% when you pay), which is even better than the Capital One Quicksilver Cash Rewards Credit Card.
Disclaimer: Any comments listed below are not from the bank advertiser, nor have they been reviewed or approved by them. No responsibility will be taken by the bank advertiser for these comments.