Chase Slate Edge benefits guide
Key takeaways
- The Chase Slate Edge is a popular balance transfer credit card due to its intro APR offer, as well as the fact that it doesn't charge an annual fee.
- This card also gives you the chance to see your interest rate drop by 2 percent when you pay your bill on time and spend at least $1,000 on purchases between each account anniversary.
- Other benefits include purchase protection, extended warranties and DashPass and Instacart perks, to name a few.
- Before you choose the Chase Slate Edge for its 0 percent APR offer, make sure to compare it to other 0 percent credit cards and balance transfer credit cards.
When Chase introduced the Chase Slate Edge℠ in July of 2021, the card issuer changed course from its usual focus on rewards-earning cards, re-entering the competitive world of balance transfer cards. Ever since, consumers have turned to the Chase Slate Edge for the purpose of debt consolidation and saving on interest while paying down large purchases, and with no annual fee to boot.
The Chase Slate Edge doesn’t charge an annual fee, and cardholders get an introductory annual percentage rate (APR) offer for purchases and balance transfers and the chance to lower their ongoing interest rate (up to a certain point) thereafter. If you’re in the market for a balance transfer credit card from Chase, read on to learn about Chase Slate Edge benefits and how they work.
Chase Slate Edge interest and credit benefits
While the Chase Slate Edge doesn’t offer any rewards for spending, this card comes with a competitive introductory APR offer, as well as the chance to save money on interest for the long haul.
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0% intro APR for 18 months
Cardholders who choose the Chase Slate Edge get a 0 percent intro APR on purchases and balance transfers for 18 months, followed by a variable APR of 20.49 percent to 29.24 percent. This gives cardholders the chance to consolidate and pay down high interest debt from other cards, or to pay down large purchases over time interest-free.
Lower your interest rate by 2 percent per year
Cardholders can also be automatically considered for an interest rate drop of 2 percent when they pay all their monthly bills on time and spend at least $1,000 on their card for each year of card membership. This offer applies until the ongoing APR reaches the prime rate plus 9.74 percent.
Credit limit increase
Individuals who choose the Chase Slate Edge can qualify for an account review and a higher credit limit automatically when they pay all their bills on time and spend at least $500 on purchases through the first statement after the first six months of account opening.
Chase Slate Edge consumer protections
The Chase Slate Edge also comes with a handful of benefits that can help consumers protect their purchases or protect them when they travel.
Purchase protection
Chase Slate Edge cardholders who use their card for purchases get purchase protection for the first 120 days. This coverage can help them recoup costs in instances of damage or theft with a maximum benefit of $500 per claim and up to $50,000 per account.
Extended warranties
Items purchased with the card that come with an eligible U.S. manufacturer’s warranty of three years or less automatically qualify for an additional year of extended warranty protection.
Auto rental collision damage waiver
Cardholders also get an auto rental collision waiver when they pay for the entire cost of their rental car with their card and decline the rental company’s collision insurance. This coverage applies in instances of collision damage or theft for most cars in the U.S. and abroad, but it is secondary to any personal insurance policies that apply.
Roadside dispatch
This service comes in the form of a roadside hotline cardholders can call if they need help with fuel delivery, a flat tire, lockout service, a jumpstart and more. While the hotline itself is free, cardholders must pay for the services provided.
Chase Slate Edge partner benefits
The Chase Slate Edge also comes with a handful of partner benefits that apply for a limited time. These include the following:
- DashPass membership for three months: Cardholders get three months of complimentary DoorDash DashPass membership that affords them $0 delivery fees and reduced service fees on eligible deliveries with DashPass and Caviar. After the three months of complimentary membership, you can get nine additional months of membership at 50% off the regular monthly fee. Enrollment is required and you must activate this benefit by Dec. 31, 2027. You can cancel your DashPass membership at any time, but if you don’t cancel by the end of the three-month complimentary period, you’ll automatically be enrolled in DashPass and charged monthly until you cancel.
- Instacart+ membership for three months: Cardholders also get three months of Instacart+ membership with $0 delivery fees and reduced service fees. Enrollment is required and you must activate this benefit by July 31, 2024. You can cancel your membership at any time, but if you don’t cancel by the end of the three-month trial period, you’ll be automatically enrolled in an annual Instacart+ membership at the current annual rate.
How to maximize the Chase Slate Edge
Because the Chase Slate Edge doesn’t offer rewards for spending, it works best for people who need to consolidate debt or pay down large purchases over time. Consider these tips to get the most out of this card after sign-up:
- Consolidate high-interest debt from other cards. Because this card offers 0 percent APR for balance transfers for 18 months (followed by a variable APR of 20.49 percent to 29.24 percent), it’s great for debt consolidation. Just remember that a 3 percent balance transfer fee (minimum $5) applies on balances transferred in the first 60 days. After that, the balance transfer fee goes up to 5 percent (minimum $5).
- Use the Chase Slate Edge for large purchases. This card’s 0 percent intro rate also applies to purchases, so you can use the card for spending and save on interest for the first 18 months as well (20.49% to 29.24% variable APR thereafter).
- Pay down your balance to $0 before the 18-month promo period is up. Whether you use the card for purchases, balance transfers or both, make sure you pay your balance down to $0 before 18 months are up. If you don’t, any remaining balances will be charged the normal variable interest rate this card charges thereafter.
- Pay your bill on time every single month. Pay your credit card bill early or on time each month for the most benefits when it comes to your credit score. This move can also help you qualify for a higher credit limit in as little as six months if you spend at least $500 on your card within that timeline, and a lower regular APR in subsequent years if you spend at least $1,000 each year. However, even if you earn an interest rate deduction through on-time payments, you should still try to pay your bill in full each month after the introductory period to avoid interest at all.
The bottom line
If you want to avoid paying high interest rates on your credit card for 18 months, the Chase Slate Edge can be well worth it. Just remember that you won’t earn any rewards for spending on the card, and that some of the best balance transfer credit cards offer intro APRs for a longer timeline of up to 21 months.
There are also credit cards with 0 percent intro APRs that also offer rewards, so you’ll want to make card comparisons like the Chase Slate Edge vs. the Chase Freedom Flex℠* as well. Our Chase Slate Edge review can also help you learn more about this card before you apply.
*The information about the Chase Slate Edge℠ and the Chase Freedom Flex℠ has been collected independently by Bankrate. The card details have not been reviewed or approved by the card issuer.
