There are many options out there for a credit card out there and here we are going to talk about the Chase Slate Edge card. The card is a decent choice on the off chance that you’re searching for a basic, straightforward Mastercard that rewards you for dependable use and making installments on time.
Assuming you need a prize charge card that gives you cash back on ordinary buys, you should look somewhere else. Get more familiar with the card to check whether it’s the ideal decision for you and read this article.
Information About Chase Slate Edge Credit Card
Here is some information you should know about the Chase Slate Edge credit card. Get areas of strength for going 0% Introduction APR for a considerable length of time from account opening on buys and balance moves. A variable APR of 20.49% – 29.24% on balance moves and buys after the initial period closes.
Bring down your loan fee by 2% every year. Naturally, be considered for an APR decrease when you pay on time, and spend somewhere around $1000 on your card by your next account commemoration. Raise your credit limit and get a programmed, once survey for a higher credit limit when you pay on time, and burn through $500 in your initial half year.
For no yearly expense, you will not need to pay a yearly charge for every one of the extraordinary elements that accompany your Record Edge card. Watch your credit wellbeing and pursue Credit Excursion assists you with observing your credit with free admittance to your most recent score, constant alarms, and more Part FDIC.
Benefits Of Chase Slate Edge
Now we are going to talk about the benefits of this card like what are the advantages that you are getting while using this card, so the benefits are:
1) 0% A Long APR Period
The Chase Slate EdgeTM gave a 12-month promotional 0% APR term at introduction, which was a quite meek offer considering competing cards typically provided 15 to 18 months. Chase extended the entry period in January 2022.
For purchases and credit transfers, cardholders now enjoy an introductory APR of 0% for 18 months, after which they will pay a continuing variable APR of 20.49%–29.24%. A balance transfer charge exists, which first begins at 3% (the lower end of the usual range of transfer costs) and thereafter increases to 5% (with a $5 minimum).
2) Incentives For Good Habits Of Credit Card
Cardholders will be eligible for a 2% annual percentage rate reduction (up to 9.74%) upon successful completion of their card payments and expenditure of $1,000 or more by the account anniversary.
The interest-free period of the card can provide an opportunity to pay off credit card debt, however, upon expiration, the card’s ongoing interest rate will be applied to any outstanding balance from the introductory period, as well as any new purchases or balance transfers that are not paid off.
A 2% annual APR reduction can be beneficial in terms of saving money if a balance is left after the promotional period. Additionally, making timely payments may help to improve one’s credit score. For customers who spend $500 or more in the initial six months of using the card, they will be automatically eligible for a one-time credit line increase.
Drawbacks Of Chase Slate Edge
Now we are going to talk about the drawbacks of this card like what are the drawbacks that you have to face while using this card, so the drawbacks are:
1) No Rewards
The Chase Slate Edge Card offers a 0% introductory interest rate, however, it does not provide any long-term benefits beyond this promotional period. Furthermore, the $100 bonus previously earned on the card has been eliminated. If one is looking to pay off debt as cost-effectively as possible, the lack of rewards may not be a major issue.
However, some 0% APR cards offer additional benefits and rewards that may motivate cardholders to keep the card after the interest-free window has expired.
The Wells Fargo Active Cash, for instance, offers a 0% initial interest rate on purchases for 15 months, a 0% intro rate on balance transfers 15 months from the account opening on eligible balance transfers, and a 20.24% to 25.24% to 29.99% variable annual variable interest rate.
Furthermore, the card offers high ongoing rewards, with cardholders earning an unlimited 2% Cash Back on all purchases. A bonus offer of $200 cash rewards is also available for those who spend $500 in purchases during the first three months.
2) Need Good Credit Score
So here is an important drawback of this credit card you need to have a good and impressive credit score for many advantages that this credit card offers.
What Is The Chase Slate Edge Credit Limit?
This is a very common question but there is no definite answer to that question since the accurate credit limit of this card will depend on the person’s credit card history. The credit card limit of your card will be at least 500 dollars. But there are some exceptions like if you have an impressive credit score then you might get a higher credit card limit.
There is also another condition if you spend at least 500 dollars each month and make all the payments on time every month then automatically you would be considered for a much higher credit card limit after continuing this process for a straight six months. This is the Chase Slate Edge credit limit.
Chase Slate Edge vs Freedom Unlimited
Here we are providing a comparison between the Chase Slate Edge vs Freedom Unlimited, so continue reading.
| Chase Slate Edge | Freedom Unlimited | |
|---|---|---|
| The Annual Fee | $0 | $0 |
| Rewards | 5% money back on movement bought through Pursue Extreme Rewards, 3% money back on qualified feasting and pharmacies, and 1.5% on any remaining buys. | This item doesn’t procure rewards. |
| The Welcome Bonus | limitless matched cash back toward the finish of your most memorable year. | This card doesn’t offer a welcome reward. |
| Intro APR | 0% starting APR for quite a long time from account opening on buys and balance moves, then a variable APR of 20.49% – 29.24% applies. An introduction move expense of either $5 or 3% of how much each exchange, whichever is more prominent, applies in the initial 60 days of record opening. From that point onward, an expense of either $5 or 5% of how much each move applies. | 0% introduction APR for a long time from account opening on buys and balance moves, then a variable APR of 20.49% – 29.24% applies. An introduction move expense of either $5 or 3% of how much each exchange, whichever is more prominent, applies on moves made in the span of 60 days of record opening. From that point forward, a charge of either $5 or 5% of how much each exchange, whichever is more noteworthy applies. |
| The Foreign Transaction Fees | 3% of every exchange in U.S. dollars. | 3% of every exchange in U.S. dollars |
Chase Slate Edge Review
Here are some authentic public Chase Slate Edge reviews for you.
Review Source- https://tinyurl.com/yxypj77r
Conclusion
To wrap it up it can be said that the Chase Slate Edge card is a great deal if you want to pay off the previous credit card debt you might have then you can go for it but if you are someone who wants some rewards then this is not your option.
The main purpose of this article is to provide a complete review of this credit card and mention all the pros and cons of this credit card. This article has all the essential information about this credit card so we hope that you liked this article and find it worth reading.
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