Will Chase’s New Credit Card Permanently Replace a Popular Card?


If you are a Chase credit card fan, you may be excited to learn that the company has a new offering on the menu.

Chase recently unveiled details on the new Chase Slate Edge card, which promises to lower your interest rate by 2% each year if you complete the qualifying actions as a cardholder.

But will the presence of this new card push out the original Chase Slate card? Let’s take a deeper look at what we know so far.

Chase Slate Edge: 4 Details To Know

Chase Slate Edge credit card

The Chase Slate Edge is a new 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 3.25% (which has been the case for much of 2021), the lowest your APR could get on this card is 12.99%.

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 Slate Edge offers a 12-month period of 0% APR on both new purchases and balance transfers. (Balance transfers are subject to a 3% fee with a minimum fee of $5.)

Before you make the 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 12-month period is up.

It’s worth noting that 12-month period is not the best on the market. You can find better offers from our recommendations on balance transfer cards and 0% Intro APR credit cards.

3. The Welcome Bonus Is Small but Really Easy To Claim

Chase isn’t exactly breaking the bank with its welcome bonus offer on this new card, but it is making it pretty easy to claim.

Slate Edge cardholders will be eligible for a $100 welcome bonus if they spend at least $500 with the card within the first six months of membership.

The reward, which comes as a statement credit, is achievable with less than $100 in spending on the card per month.

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

If you make on-time payments and spend at least $500 total 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 help you have a lower credit utilization percentage, which is a factor that can help increase your credit score over time.

Does This Mean the End is Near for the Original Chase Slate Card?

With this new branding and a fresh set of offers on the Chase Slate Edge card, you may be wondering what it all means for the future of the Chase Slate card.


We reached out to Chase to get some answers.

  • Chase confirms that it has removed the regular Slate card from its website and is not taking new applicants for the card there. This took place prior to the launch of the new Slate Edge card.
  • However, a Chase representative told me that the company still offers the Slate card to Chase customers in bank branches. So if you are interested in the Slate card, you’ll need to inquire about its availability at your local branch.
  • Existing Slate cardholders should not see any changes because of this new card, nor are they being asked to change credit cards at this time.

So at least for now, the Slate Edge is not replacing the Slate card. However, recent actions would lead you to believe that Chase prefers directing customers to the new Slate Edge.

For those unaware, the Slate card is considered an attractive balance transfer card because it offers 15 months of 0% APR on balance transfers and a chance to waive balance transfer fees on balances moved within the first 60 days.

Final Thoughts

Similar to the way Chase shook up the Freedom line of credit cards in recent months, it appears the Slate line is at least getting a refresh.

But if I’m being candid, there’s nothing about this new Chase Slate Edge 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 may 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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