Chase Slate Edge Review 2023

Our specialists reply readers’ bank card questions and write unbiased product evaluations (this is how we assess bank cards). In some instances, we obtain a fee from our companions; nonetheless, our opinions are our personal. Phrases apply to affords listed on this web page.

Chase Slate Edge Charges

This card has no annual price, so it is free to maintain for the long run and doubtlessly improve your common age of accounts (and due to this fact presumably assist increase your credit score rating). Nonetheless, it is not card to make use of for worldwide purchases, as a result of it provides international transaction charges (3% of the quantity of every transaction in US {dollars}).

Slate Edge Charges

• Annual price: $0
• APR: 19.99% – 28.74% Variable
• Intro APR: 0% intro APR on purchases and steadiness transfers for 18 months from account opening
• Stability switch charges
• Overseas transaction charges

Like most different playing cards, there are different costs, together with: for steadiness transfers, money advances, late funds, and returned funds.

Chase Slate Edge Evaluate: Is It a Good Card?

When the Chase Slate Edge℠ was rolled out in 2021 as a substitute for the discontinued Chase Slate®
, it did not actually make a lot of a splash. On the time, it got here with a small money welcome bonus, no ongoing rewards, and an average-at-best intro APR provide.

The welcome bonus provide is not out there. What’s improved, although, is the introductory 0% APR, which is now one of many longer affords available on the market. New cardholders obtain a 0% intro APR on purchases and steadiness transfers for 18 months from account opening, adopted by a 19.99% – 28.74% Variable APR.

However even then, there are many playing cards out there that do earn rewards and include an intro APR that approaches or matches the provide. For instance, the Chase Freedom Limitless® earns at the least 1.5% money again (1.5 factors per greenback) and comes with a 0% intro APR on purchases and steadiness transfers for the primary 15 months (then a 19.99% – 28.74% Variable APR). 

It may appear odd to open this card when there are seemingly higher options out there, however there are a few different causes you may contemplate the cardboard. Firstly, Chase will routinely evaluation you for a better credit score restrict should you make your funds on time and spend $500 in your first six months of account opening. 

Secondly, should you spend at the least $1,000 on purchases within the earlier anniversary 12 months, you may be thought-about for a 2% APR discount every account anniversary, however solely as much as sure limits (extra on that later). That is a novel characteristic you do not discover on different playing cards, and may very well be useful for many who have a tendency to hold a steadiness on their bank card.

Nonetheless, if you have already got established credit score, opening a 0% APR card that additionally earns rewards from our record of finest 0% APR bank cards might be a greater deal.

We’re targeted right here on the rewards and perks that include every card. These playing cards will not be price it should you’re paying curiosity or late charges. When utilizing a bank card, it is essential to pay your steadiness in full every month, make funds on time, and solely spend what you possibly can afford to pay.

Chase Slate Edge 0% Introductory Provide

Whereas the Chase Slate Edge℠ would not have the longest intro APR on purchases and steadiness transfers available on the market proper now, the 0% intro APR on purchases and steadiness transfers for 18 months from account opening (then a 19.99% – 28.74% Variable APR) is a good provide.

When you’ve got giant purchases arising that you simply need to pay for over an extended time period with out incurring curiosity, otherwise you need to consolidate balances from different high-interest bank cards, this deal might prevent cash. Simply be certain you’ve the power to repay your full steadiness earlier than the introductory APR interval is over, in any other case, you could possibly end up in much more debt.

Take into accout you possibly can’t use this steadiness switch provide to repay different bank cards or loans issued by Chase.

Slate Edge Rewards

One massive downside of this card is that you simply will not earn a welcome bonus provide.

Earn Factors

One other draw back is that you simply will not earn any rewards in your spending. So there aren’t any rewards to talk of. The one actual incentive to make use of the cardboard is its intro APR and the handful of different advantages and options it affords.

Chase Slate Edge Advantages and Options

Computerized Evaluate for a Larger Credit score Restrict

For those who’re engaged on constructing your credit score, this card might provide you with a little bit of a leg up. You may obtain an automated, one-time evaluation for a better credit score restrict should you’ve paid on time and spent at the least $500 in your first six months of opening the cardboard.

Having a better credit score restrict might doubtlessly enhance your credit score rating as a result of it is going to improve your complete quantity of accessible credit score. This could enhance your credit score utilization ratio (should you’re not carrying a excessive steadiness), and utilization is a significant component in figuring out your credit score rating.

It would sound unusual, however opening and utilizing a bank card responsibly is definitely a good way to construct credit score and increase your credit score rating over the long run. 

APR Discount of two% Every 12 months

Carrying a steadiness in your bank card is not a good suggestion since you’ll find yourself paying curiosity, however it’s typically unavoidable attributable to surprising monetary stress. The Chase Slate Edge℠ comes with an uncommon characteristic that may assist scale back the quantity of curiosity you may pay — however provided that you employ the cardboard and pay your payments on time.

On each account anniversary, you may be thought-about for a 2% APR discount, so long as you have paid your card on time and spent at the least $1,000 on purchases within the earlier anniversary 12 months. The discount is capped  — it is going to solely be diminished till your APR reaches the Prime Charge plus 9.74%. The present Prime Charge is 7.00% (as of 11/03/2022).

If you end up within the place of needing to hold a big steadiness month to month, this profit might prevent cash — however it solely begins after a 12 months of getting (and utilizing) the cardboard. 

Buy Safety

Once you use the cardboard to pay for an eligible merchandise, you may obtain safety in opposition to harm or theft inside 120 days of buy. Protection is as much as $500 per declare and $50,000 per account.

Prolonged Guarantee

Chase affords an prolonged guarantee profit on qualifying gadgets, extending the time interval of a US producer’s guarantee (of three years or much less) by an extra 12 months.

Automobile Rental Insurance coverage

For those who pay in your rental in full with the Chase Slate Edge℠ and decline the rental firm’s collision harm waiver, you are eligible for theft and collision harm protection for many automobiles within the US and overseas. Protection is secondary to your personal private insurance coverage within the US, and first insurance coverage in any other case.

Roadside Dispatch

Cardholders have entry to a 24/7 roadside dispatch hotline which may also help prepare companies like towing, winching, or jumpstarting. The dispatch service itself is free, however you may be charged for any companies rendered.

Complimentary DoorDash DashPass Membership

Once you activate by December 31, 2024, you possibly can obtain a complimentary three months of DashPass, which will get you $0 meals supply charges and diminished service charges on orders of $12 or extra with DoorDash and Caviar. After that, you may obtain a 50% low cost in your DashPass membership for the subsequent 9 months. 

Instacart Advantages

Till July 31, 2024, cardholders can activate a complimentary three-month Instacart+ membership, which comes with diminished service charges and free supply on orders of $35 or extra. Remember to set a calendar reminder to cancel should you do not plan to maintain the membership after three months, in any other case your card might be charged for a full 12 months ($99) as soon as the three-month trial interval expires.

How the Chase Slate Edge Compares

Slate Edge vs Chase Freedom Limitless

In contrast to the Slate Edge, the Chase Freedom Limitless® earns rewards, together with a welcome bonus of 1.5% money again along with common incomes on the whole lot you purchase as much as $20,000 spent within the first 12 months (price as much as $300 money again), 5% on journey bought via Chase Final Rewards, 3% on eating at eating places, together with takeout and eligible supply companies, 3% on drugstore purchases, and 1.5% on all different purchases. Neither card costs an annual price. The Freedom Limitless additionally affords an intro APR interval, however it’s barely shorter (then a 19.99% – 28.74% Variable APR).

Slate Edge vs Wells Fargo Mirror

Each playing cards include 0% introductory APR affords—within the case of the Wells Fargo Mirror® Card, it is 0% intro APR for 21 months from account opening on purchases and qualifying steadiness transfers (then 17.99% – 29.99% variable APR), which is longer than the Slate Edge’s intro interval. Neither card earns rewards or affords a lot in the way in which of additional bells and whistles.

Slate Edge vs Citi Double Money

Whereas each playing cards provide intro APR durations, the Citi® Double Money Card additionally earns rewards: 1% money again if you purchase, plus an extra 1% as you pay.

Chase Slate Edge Incessantly Requested Questions

Methodology: How We Reviewed the Chase Slate Edge

We reviewed this card in line with our bank card score methodology, which pays explicit consideration to the next components: annual price, advantages, rewards (if there are any), ease of use, and the way it compares to comparable bank cards.