Chase has just launched a new credit card, though odds are you won’t be lining up to get it. Dubbed the Chase Slate Edge℠ Credit Card, this card is an update of the Chase Slate® Card and is targeted towards those looking to build or repair their credit. Let’s take a look.
Chase Slate Edge Card Details
As we stated before, the Chase Slate Edge card is geared towards those looking to improve their credit. As a result, it doesn’t earn any kinds of rewards for your spending. Instead, you have the opportunity to decrease your interest rate and raise your credit with on-time payments and minimum spending.
The card features:
- Receive a $100 statement credit after spending $500 in purchases in the first 6 months of card ownership
- Get an automatic 1-time review for a higher credit limit after making on-time payments and spending $500 in your first 6 months
- Automatic consideration for a 2% APR reduction each year after making on-time payments and spending at least $1,000 on your card each year
- $0 annual fee
Although the card doesn’t earn you any rewards, it does come with a few benefits:
- Purchase Protection: Covers new purchases for 120 days against theft or damage, up to $500 per claim and $50,000 per account
- Extended Warranty Protection: Extends your warranty by an additional year on covered items
- Roadside Dispatch: An operator will dispatch any help you require, whether you’ve locked your keys in your car or need a tow — though fees for services apply
- Rental Car Insurance: When charging the entire cost of the rental to your card, Chase will cover theft and collision damage in the U.S. and overseas; in the U.S., coverage is secondary to your personal insurance
Is It Worth It?
These are some pretty decent benefits for a credit card that doesn’t earn any rewards and costs nothing to hold, though they (obviously) pale in comparison to some of the other cards in Chase’s lineup, like the Chase Sapphire Reserve® Card or its little brother, the Chase Sapphire Preferred® Card, though you’ll have to pony up annual fees in order to receive these benefits.
If you’re looking to repair or build your credit, this card might be what you’re looking for. It’s not especially rewarding but can help you get into a better financial situation so that when the time comes, you can score some of those ultra-premium rewards cards we’re always talking about.
This latest credit card from Chase probably isn’t much to write home about for most of us in the travel community, especially since it doesn’t offer any ability to earn rewards. However, if you’re looking for a no-fee option with the ability to earn yourself a low APR, the Chase Slate Edge card may be a good option for you.
The information regarding the Chase Slate Edge℠ Credit Card and Chase Slate® Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.