4 Things To Know About the Slate Edge℠ Credit Card

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If you are a Chase credit card fan, you may be excited to learn that the bank has spiced up the Chase Slate brand with the card_name.

This card offers generous introductory APR offers on both new purchases and balance transfers, and it also promises to lower your interest rate by 2% each year if you complete the qualifying actions as a cardholder.

That interest rate perk works well for consumers who regularly carry a balance, but are the card’s other incentives attractive enough to make it an everyday spender you’ll want to add to your wallet?

Team Clark breaks down some of the important things to know about this card before you apply.

Slate EdgeSM Credit Card: 4 Details To Know

Chase Slate Edge credit card

The card_name is a no-annual-fee credit card with some rewards geared toward users who spend often and pay on time.

1. The More You Pay on Time, the Lower Your Interest Rate Will Be

The hook for this card is pretty simple: The more you spend and pay on time with the credit card, the more Chase will lower your interest rate.

If you make all your payments on time and spend at least $1,000 per year, you’ll automatically be considered for a 2% reduction in your card’s APR each year. This evaluation will happen on your account anniversary (the end of the first year of your card membership).

While your starting point for APR on new purchases and balance transfers will vary based on your individual credit history, Chase does put a limit on how low your interest rate can actually go.

Once your APR reaches the U.S. prime rate plus 9.74%, you’ll no longer be eligible for the reduction. Using a sample prime rate of  7.50% (which has been the case in recent times), the lowest your APR could get on this card is 17.49%.

Keep this in mind as you consider the rest of the perks for this card. Many customers with strong credit scores may find that their local credit union offers a fixed rate credit card with an APR lower than the best-case scenario with this one.


2. There Is an Introductory APR Offer on New Purchases and Balance Transfers

If you’re looking to finance a new purchase without interest for a period of time or are seeking relief from high interest rates on an existing credit card, the Chase Slate Edge could be of some value to you.

The Chase Slate Edge℠ credit card offers 0% Intro APR on Purchases for 18 months. Afterwards, the Variable APR will be 20.49% – 29.24%, based on creditworthiness. The Chase Slate Edge℠ credit card offers 0% Intro APR on Balance Transfers on balance transfers for 18 months. Afterwards, the Variable APR will be 20.49% – 29.24%, based on creditworthiness.

Balance transfers are subject to a 3% fee with a minimum fee of $5.

Before you make a move based on these rates, make sure you have a plan to pay off your balance before the end of the promotional period to ensure you don’t face interest charges when that 18-month period is up.

It’s worth noting that the 18-month period is competitive with some of Team Clark’s top recommendations for balance transfer cards and 0% Intro APR credit cards.

3. Chase Removed the Welcome Offer For This Card But Is Offering an Alternative Perk

Chase launched this card in 2021 with an underwhelming welcome offer ($100 bonus if you spent at least $500 within the card within your first six months of membership).

But as of 2022, a new offer is in place: Slate Edge cardholders get 18 months of fee-free access to My Chase Plans on select purchases of $100 or more made with the card.

The “My Chase Plan” is essentially a “buy now, pay later” plan that lets you make a set number of monthly payments to pay off a purchase without accruing interest charges. Typically the use of My Chase Plan requires a fixed monthly fee, but this card benefit gets rid of it for 18 months.

You can choose this payment method for approved transactions by selecting the “My Chase Plan” option next to the transaction on your online account statement or on the Chase app.

4. You May Get a Higher Credit Limit After 6 Months

If you make on-time payments and spend at least $500 in the first six months you have the card, you could see an increase in your credit limit. Completing both of these requirements will trigger your account for an automatic assessment.


While Team Clark strongly suggests that you avoid credit card debt by paying your balance in full each month, there are some potential benefits to having a higher spending limit.

It can reduce your credit utilization percentage, which is a factor that can help increase your credit score over time.

Slate EdgeSM credit card: Pros and Cons

Good length on the introductory APR periods for balance transfers and new purchases.No rewards program for purchases
Clearly defined path to lowering your standard APR and upping your credit limit with good spending habitsNo more cash welcome offer
Temporary reprieve from My Chase Plan fees

Final Thoughts

The card_name brings some interesting concepts to the table. There is a healthy introductory APR period if you need it, and there are some creative ways to improve this card’s value to your wallet by spending responsibly.

But if I’m being candid, there’s nothing about this offering that makes me want to jump in line to apply.

The “lower your APR as you pay on time” model is a good one that encourages smart financial behavior, but limiting the floor for your APR to Prime Rate + 9.74% is a bit of a buzzkill for people who have access to cards that already offer a lower standard APR rate.

Without the ability to move this rate lower, most customers should probably consider passing on this offer.

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