Chase Slate is one of the first choices for people looking for a credit card that can help them get out of debt. This is not a rewards card; but it has an impressive feature set to make it an ideal complementary card for even those who have good credit.
The 0% introductory APR on purchases lasts for 15 months, it’s an opportunity to finance a major purchase; transfers too attract interest-free financing for the same period. Use payments to clear debts without having to worry about interests for more than a year. There aren’t many cards aimed at helping people get out of debt that match this offer by Chase Slate.
Regular interests on purchases and transfers are charged at 12.99%, 17.99%, or 22.99% APR, interest varies with your credit score. You can avoid the card’s balance transfer fee of 3% if you transfer your debt to this card within 60 days of acquiring the card. The amount can be used to lower your debt.
There’s no annual fee charged by Chase Slate; more money that you can direct toward clearing debt and raising your credit score. Chase Blueprint is a program that lets cardholders work toward improving their creditworthiness by planning how they repay the credit drawn. There are four options you can choose from. These include Full Pay, Split, Finish It, and Track It. These options let you pay for small and big purchases, and also chart a monthly payment plan so that you can pay off the existing balance as early as possible. Late payment does not lead to an increase in the APR, which is a good thing for those times when you might miss a payment due to unforeseen expenses. However, it will affect your credit score and may even bring the free APR period to an abrupt end. Therefore, to be on the safe side, do not carry debts into the next month.
Get a free monthly FICO score and information on steps to further boost credit ratings. The score takes into account your Experian credit history. Chase Slate attracts a foreign transaction fee of 3%, but given that foreign travel is not likely to be very high on the priority list of folks looking to improve their credit health, this is not really a downside to this card.
The Chase Slate credit card is a secure one, courtesy an embedded chip that helps to validate transactions made by a chip card reader. All transactions are monitored via Real-Time Fraud Monitoring to ensure bonafide transactions. If any unusual activity is detected, you are alerted via text messages, phone or email. Basically, you need not worry about any liability regarding unauthorized purchases. This said, adding a family member to the card is a breeze and can even help you with recovering lost credit reputation.