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Credit, Debt, Personal Finance · March 7, 2015

Is the Chase Slate credit card your best choice for making a Balance Transfer?

If you’re up to your eyeballs in credit card debt and wondering whether or not you should get a credit card that will let you transfer your debt and consolidate it, paying it off at a lower interest rate, there are few better than the Chase Slate card. Today’s blog looks at why and please keep in mind that we’re not being paid anything by Chase Bank and have no affiliation with them. We just believe that, when it comes to credit cards that allow you to balance transfer, it’s your best choice.

One of the very best reasons to choose the Chase Slate card is that, right now, they’re offering 0% APR for 15 months on balance transfers. Even better, unlike most cards that charge a balance transfer fee, the Chase Slate doesn’t, saving you approximately 3% which, in some cases, can add up to quite a bit of money. For example, if you’re transferring $2500, that would typically cost you about $75 in transfer fees with another card. With the Chase Slate card you won’t pay any transfer fees and also have 15 months to pay off your balance interest-free. One caveat is that you need to transfer any balances within the first 60 days of having the card because, after that, there is a fee.

Another excellent reason to choose the Chase Slate card is that it has no annual fee and, after the 0% APR introductory period ends, it also has a fairly low ongoing APR (check for details before you make any final decisions).

Still need convincing? You don’t need perfect credit in order to qualify for the Chase Slate card, but instead only a “good” credit rating of approximately 660. That’s really good considering that most credit cards of this type, that offer these kinds of perks, will only be available to people with excellent credit. Even if you’ve made a few mistakes or had one or two smallish “hits” on your credit report, the chance of qualifying for the Chase Slate card is still pretty good.

Now for the (relatively) bad news. First, the Chase Slate card doesn’t offer any rewards. Also, even though it is chip enabled, which makes it a good card to take on an international trip, you’ll be charged a 3% foreign transaction fee every time you make a purchase.

Even with those relatively small drawbacks however, the Chase Slate credit card is highly recommended and considered to be one of the best credit cards for consumers who wish to make a balance transfer, consolidate their debt and lower their monthly interest fees.

Filed Under: Credit, Debt, Personal Finance

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