Chase Slate Edge Credit Card Review

With so many options out there, it can be hard to choose the best credit card for you. The card_name is a good option if you’re looking for a simple, no-frills credit card that rewards you for responsible use and making payments on time. However, if you want a rewards credit card that gives you cash back on everyday purchases, you might want to look elsewhere. Learn more about the card_name to see if it’s the right choice for you.

TIME's Take

The card_name has a lot to offer, including a relatively long introductory annual percentage rate (APR) period, diminishing APRs each year if you pay your bills on time, and the opportunity for a credit limit increase after six months. Nevertheless, it doesn’t offer rewards like many of its competitors do, which could be a deal-breaker for some customers. Ultimately, whether the Slate Edge is a good card will depend on what you’re looking for and whether you’re OK with no rewards program.

Who is the card for?

The card_name may be the right choice if you want to build good financial habits in order to boost your credit score. Although you’ll need a “good” or an “excellent” credit score to apply, Chase offers several benefits for those who qualify, such as a intro_apr_rate,intro_apr_duration and the opportunity to decrease your APR each year if you use the card responsibly. You’ll also be eligible for a one-time automatic review for a credit line increase after six months, as long as you’ve spent at least $500 within that time frame.

Rewards structure

The card_name doesn’t offer rewards like many of its competitors do, which could be a deal-breaker for some customers. Instead, its benefits come in the form of rewards for good financial habits, such as paying your bill on time and keeping your balance low. These rewards work as follows.

Diminishing APR

Every year, you’ll be automatically considered for an APR reduction as long as you meet the following criteria:

• Make consistent on-time monthly payments
• Spend at least $1,000 on your card before your next card anniversary

If you meet these requirements, you could have your APR decreased by 2% each year until it reaches the prime rate plus 9.74%. This can be extremely beneficial if you’re trying to pay down your balance and want to avoid paying interest as much as possible.

Automatic review for a credit line increase

If you spend at least $500 and pay on time for the first six months after opening your account, you’ll be automatically considered for a credit limit increase.

Additional hidden perks

Chase offers a couple of lesser-known perks that cardholders can take advantage of, including the Chase Credit Journey credit monitoring tool and the My Chase Plan payment plan.

Chase Credit Journey

Chase Slate Edge Card holders can sign up for Chase Credit Journey—a tool that monitors your credit score and alerts you to potential identity theft. Checking your credit score through Chase Credit Journey won’t affect your score; it just allows you to keep tabs on it, which is especially important if you’re trying to boost it.

Even better: You can use Credit Journey even if you don’t have a card_name or any other Chase account.

My Chase Plan

My Chase Plan allows you to break up your card purchases into smaller, interest-free payments. As part of the plan, you’ll pay a small monthly fee after the 0% introductory APR period is over, but at 1.72% of the amount of each eligible purchase, it’s relatively low.

What could be improved?

The biggest downside of the card_name is that it doesn’t offer any rewards or cash back. This may be off-putting to some, as most credit cards offer some form of rewards that allow them to save money.

Alternatives

A simple card without a lot of fuss

The card_name has several things going for it, including being a intro_apr_rate,intro_apr_duration and allowing cardholders to decrease their APR each year if they use their card responsibly. While it won’t work for those who want a rewards credit card, it’s still a solid option if you want a straightforward, no-fuss credit card.

Frequently asked questions (FAQs)

What's the starting credit limit for the card_name?

The exact credit limit will depend on your credit history. If approved, your limit will be at least $500, but if you have “excellent” credit, you’ll likely get a higher limit. You can also be automatically considered for a credit limit increase after six months if you spend at least $500 and make on-time payments each month.

What are the best card_name promotions?

Currently, Chase is offering an introductory intro_apr_rate,intro_apr_duration on the card_name. After that, you’ll pay the regular APR of reg_apr,reg_apr_type.

Is the card_name a good first time credit card?

The card_name requires applicants to have a credit score that falls within the “good” or “excellent” range. For this reason, first-timers likely won’t qualify for this card and may want to consider one of the best secured credit cards instead to help them build a good credit history.

Is card_name a cash back credit card?

No. The card_name doesn’t offer any rewards or cash-back benefits to cardholders.

Is the card_name metal?

No. The card_name is not metal. It’s made from plastic, like most traditional credit cards.

What is the card_name exchange rate?

The card_name foreign transaction fee is foreign_transaction_fee of the amount of each transaction in U.S. dollars.

Is the card_name hard to get?

That depends. If your credit score is “good” or “excellent,” you’ll likely qualify easily. However, if your credit score falls in the “fair” or “poor” range, you probably won’t be approved for this card.