Chase Revives Popular Balance Transfer Card

Chase has brought back one of its sought-after balance transfer credit cards, though with a few tweaks. The Chase Slate® credit card, which was taken off the market in spring 2020, is now available for new applications. This card features a low introductory APR lasting just under two years, which is among the longest available today.

For those grappling with credit card debt, balance transfer cards can be quite beneficial. They let you stabilize your finances by allowing you to pay off the principal before interest begins to accumulate again.

Here’s an overview of what you should consider about the Chase Slate, and suggestions for other 0% APR introductory credit cards to look into.

Chase Slate® Overview

Understanding the Chase Slate 0% Intro Offer

The Chase Slate promotes the longest 0% introductory APR period available—with 21 months of no interest on both purchases and balance transfers. After that, a variable APR ranging from 18.24% to 28.24% kicks in. Ideally, this allows you to settle most or all of your debt during this two-year window.

To put it in perspective, if you have $10,000 in credit card debt at an average interest rate of 22.30%, and commit to paying $500 each month, it would typically take around 26 months to pay it off, costing you about $2,619 in interest along the way.

However, if you shift that debt to the Chase Slate card—and pay a 5% balance transfer fee (which amounts to $500)—you could still make the same monthly payment, but clear your debt in just 21 months at no interest. Though the total paid each month may vary based on your balance and fees, using a card like Chase Slate often cuts down your interest costs significantly.

Who Should Consider Chase Slate?

Chase Slate is best suited for those with existing credit card debt who are intent on minimizing their interest payments as they pay it off. It’s a straightforward card—no annual fee, but without many additional perks. Still, the card does have some benefits worth mentioning. If activated by December 31, 2027, for instance, you can receive a complimentary six-month membership to DoorDash’s DashPass, which provides $0 shipping on eligible orders. Just remember, after the free period, you’ll automatically be billed at the current rate.

There’s also some basic protections included, like purchase protection and extended warranty options. If what you’re after is a credit card bursting with travel benefits and statement credits, though, the Chase Slate likely won’t meet your expectations.

Alternative 0% Intro APR Cards to Explore

If you’re in the market for a 0% APR card but prefer more time to pay off your debt, consider the US Bank Shield™ Visa® Card. It offers a 0% introductory APR for 24 billing cycles, providing a few additional months compared to the Chase Slate. Post-introductory, a variable APR will range from 16.99% to 27.99%.

This card, like Chase Slate, comes with no annual fee, plus a $20 annual statement credit for qualifying purchases made in 11 consecutive months. Additionally, it includes cell phone protection of up to $600 when you pay your monthly bill with the card.

Final Thoughts

For those wanting a straightforward 0% APR card that also offers rewards, consider the Citi Double Cash® Card. This card allows you to earn unlimited 2% cash back on purchases—1% when you buy, plus another 1% when you make payments. While the introductory APR period is only 18 months, afterward, a variable APR ranging from 17.49% to 27.49% applies. If your debt is manageable, this could be a solid option.

Essentially, balancing the desire for rewards with the need to pay off debt can be tricky, but there are various paths available.