When the 15-month introductory period is over, a variable APR between 16.49%–25.24% activates. After the 60-day intro offer period is over, the fee increases to 5% of the amount transferred over or a minimum of $5, whichever is greater. Within the first 60 days of account activation, you can transfer balances with no introductory fee. What makes the Chase Slate® credit card such an excellent choice for those trying to pay down significant debt are the low fees. That’s where Chase Slate® shines - it allows credit card users to focus on chipping away at debt during the introductory period. Those high costs are problematic for credit card users who are trying to get out of debt. Worse still, if you use a card to transfer your balance that charges a 5% balance transfer fee on a debt of $10,000, you will be on the hook for $500 in fees. You now have 15 months to work on paying off that debt without additional interest payments to worry about - plus, there’s no initial fee for transferring it over in the first place.Ĭompare that to a card that charges a 3% balance fee on that $10,000 debt, and you’re stuck paying an extra $300 on top of your original debt. Imagine this scenario: you have $10,000 sitting on a high-interest card and you transfer that balance to the Chase Slate®. While those numbers might seem small, it can add up if you’re trying to pay down thousands of dollars of debt. Why is this feature so special? Many other cards charge between 3% to 5% for transferring a balance over. The main benefit of the Chase Slate® credit card is the $0 introductory balance transfer fee when you open your account. Unfortunately, those with poor credit are unlikely to be approved.Ĭhase Slate® Credit Card balance transfer details What it also may mean is that you don’t have a great credit score because your credit utilization is high or your debt-to-income ratio isn’t ideal. Good credit required: If you’re using a balance transfer card, it’s likely you have some serious debt on your hands.Other cards have longer 0% periods: While 0% APR for purchases and balance transfers for 15 months is fairly long for market standards, there are other cards that offer up to 21 months without interest. For those who want a multi-purpose card, this might not be the right choice. The only reward you’ll get with this card is paying off your debt faster.
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