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Chase Slate Card Review: No Interest for 15 Months and No Balance Transfer Fees

by on February 6, 2012 · 35 comments

in Chase, Credit Cards

Credit cards are an amazing way to rack up free miles and points very quickly, but you can also get burned if you don’t manage your finances appropriately. The APRs on most mileage earning credit and charge cards are usually very high and if you are carrying a balance, the interest you pay can easily negate the value of any points earned.

As much as I preach about not carrying balances, I also realize that it’s easier said than done. Out of college I carried a balance for several years as I struggled to get my finances under control (and adjust to paying insane NYC rent and cost of living). I remember always seeing credit cards that offered “No interest on balance transfers,” but in the fine print it almost always stated there was a fee for balance transfers – like 3% or more of the total amount of the balance.

Luckily I no longer carry balances, but if I did I would consider taking Chase up on an offer they just launched: no interest on purchases for 15 months, no balance transfer fees and no annual fee on the Slate Card.  You need to transfer any balances within 60 days of opening your account to get the promotion 0% and no-fee transfer deal.

So while this card isn’t for the experienced mileage collector who is looking to pad their account balances, it should be an option for anyone looking to make a smart financial decision to work on paying off existing balances since that’s a huge part of your credit score. Chase also has Blueprint, which is a program designed to help you understand your finances create an action plan to pay off your balance.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author.s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.

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  • Sss

    Lame obvious credit card shill. I thought this was a travel blog, yet now there are posts about credit cards with no connection to travel. The shaky rationale that you have accumulated this debt on your travel cards and this card is great to do a Balance Transfer doesn’t work, because rule #1 of card churning/points accruing is to never run a balance, since the interest will outweigh the points earned.

    The quality of this blog has deteriorated over the past month or two — one of the reasons are the obvious sponsored posts. Don’t take this personally, just constructive criticism.

  • Anonymous

    Right, but the reality is that many people run balances and before you get into the CC game you need to pay them off, which is hard to do when you are paying crazy interest rates.

    This is a good deal for those in that situation- of which many are readers of this blog due to the amount of emails I get around building good credit and paying off balances.

    If this deal doesn’t do anything for you personally, the great thing is you don’t have to participate. There are plenty of other deals that I’ve covered lately that can help you build your balances and be smarter about how you redeem. I do appreciate the feedback!

  • http://www.facebook.com/profile.php?id=583406016 Tracey Gibson

    Actually. . .I think this is a worth while post. I don’t carry balances on credit cards EXCEPT for my business expenses. Sometimes I am lazy and put off filing my expense reports and on top of that it takes my company a few weeks to pay me. So usually I just shell out the cash to avoid late fees or interest. (This isn’t good for the long run, I know.) I think this card might be good during high expense months for me where I’m traveling a bunch and don’t have time to do my expense reports until I get off the road. Just sayin. . .it’s rare that cards offer 0% interest and no balance transfer fees. So. . .much appreciated.

  • Nick

    I see some danger here. People who carry balances on their cards should obviously already steer clear from this website. If they get a “great deal” on carrying a balance I’m afraid it would lead people to get even higher balances without actually tackling their debt.

    If however, you are on top of this game, this might be an alternative to a car loan. Something like a Civic would end up being 1200 a month for 15 months at 0%. Not bad.

    But even car debt sucks.

  • Anonymous

    Or if you are going to make a big purchase and pay it off, you could put it on Slate and instead invest that money for 15 months. I don’t want to give financial advice, but smart people can probably find ways to take advantage of this offer to make some $$.

  • James

    obviously its your blog, and you can post what you want, but its the unrelated to points CC posts like this that turned me off to the frugal (credit card selling) guy. you are right, the card has benefits, but not points related. but you say “i don’t want to give financial advice”, so don’t write an ad piece for a card that only makes sense for financial reasons

    really feels like a shill post. i get that you need to get paid, but this constant CC onslaught by every blogger is getting really tiresome

    anyhow, i do like the blog. hope to see you at the FTU. is that still on for a friday registration?

  • oldmanpeabody

    Totally agree with Tracey and disagree with Sss. I’ve earned a huge number of points from credit card deals (and the Fidelity post) that TPG put up here. Perhaps it is just “constructive criticism” but I think that’s a tiny majority, I think most of us love getting info on these deals, whether they’re directly travel-related or indirectly so. Keep up the great work TPG.

  • Gac

    SSS, 0% of no balance fees, that is a hck of a deal. If you are too stupid to understand that, you ar too stupid to travel anyways.

  • Gac

    I love the deal TPG, don’t let these idiots stop you.

  • Gac

    People like SSS is big part of what is wrong with this socialist agenda in this country. They think somehow by passing on credit card info, TPG is getting kick back from credit card companies, this is no different than people upset at CEO making their salaries. TPG put in the time to find and post the deals, he rightfully desrves some compensation under a capitalistist system. I am sick of this welfare , redistribution system.

  • mattolo

    Yes, and even to earn miles if you have the Bankdirect AA account. Lets say you keep $15,000 at 0% on the card for 15 months. That means you have $15,000 more in your account earning miles over 15 months that is another 22,500 AA miles.

  • James

    wow, defensive much? guess constructive criticism isn’t wanted here…

  • Asdfasdf

    The return of stoozing! It’s been a long long time! i wonder what kind of credit limit they would give

  • Simon

    I don’t feel this is very good advice. Maxing out this card to $15000 will make many people’s utilization go up and their score go down.

  • BTG (Balance Transfer Guy)

    Thanks for posting this, TPG. Some people do desire points on some cards and carry balances that need to be transferred on others. And this is really a good deal for balance transfers. Pay no attention to the people trying to stifle you here. You’re allowed to pass on good non-points-related credit-card info even if your name is TPG.

  • Pearl

    If this entry, while helpful to some, allows you to receive monetary gain, shouldn’t you add a disclaimer that it’s a sponsored post or that it’s your referral link? If you aren’t gaining anything from this and have written it solely to be helpful towards eventual travel goals / miles collecting, then keep doing what you’re doing and thanks for your work!

  • Anonymous

    I have several disclaimers on the site (like on my Top Deals page and Credit Cards -> Disclaimer), but I don’t feel the need to put them in every post.

    As for being helpful, I only write about top deals that might benefit my readers- whether they make me money or not.

  • Anonymous

    There are many factors that go into a credit score. Technically applying will ding your score, but if your financial gain (in terms of points/miles) outweighs that minor ding, then going for it might make sense. Same with putting a balance on a 0% card- it could hurt, but if you have a strong credit score and can withstand the ding it might be worth it. Everyone’s situation is different. People used to leverage these free balance transfers and 0% interest back in the day for major monetary gain.

  • CodeAdam10

    This is a classic “damned if you do … damned if you don’t” example. Bloggers are criticized for not having fresh content / new ideas. And when someone takes a step to provide something fresh and useful, some still find reasons to complain. What is so wrong with TPG blogging about a NO INTEREST – NO BT FEE credit card? On another note, I have also criticized bloggers for not having fresh content over at FT, however these blatant attacks of “Oh he’s getting rich off of us with his affiliate links!” or “OMG where’s the disclaimer about your referral link?” is getting out of hand. Do you guys write to Google every time you see AdSense ads on your search results page? Of course you don’t, because hey it’s Google and YAY they have a right to make money off their users – but heck no, not a small business owner (blogger) …. right?

  • smedleyb

    Which is the constructive part? The part where you admonish him for mentioning a CC with great financing benefits? The part where you call him a shill for the card industry? Or is it the part where you refer to CC posts as tiresome?

    Hey, but at least you still like the blog, right?

  • Lin

    I agree TPG, please continue to do this. I love this deal!

  • Jtgray

    Good comment here. No one is forcing you to read this blog so why hate on it? It’s all good information and honestly he deserves every referral he gets. Would you rather do an open search on the internet for a link and NO ONE gets a referral bonus? Hey, I’m sure Chase would rather you do that…

  • Jtgray

    James – Why don’t you try generating 15+ blog posts a week with unique and relevant content. .

  • Anonymous

    Just an idea for some people on how to really utilize this type of a deal that will generate more points for travel. For example, apply for both the business and personal SPG cards and buy gift cards for the purchases you are most likely to make over the next year. Then transfer that amount over to the Slate card and pay it off throughout the year and voila, you have your bonuses right away!

  • PJ

    SIlly you are !! why is this one drawing you such harsh response: My credit score is above 800 if i am going higher this no fee no interest for 18 months would help me as much as those who need the installment loan in credit file..

  • Flacey8

    don’t be an A$$. this is a great deal – i was having some money trouble due to a failed business and owed tons of money. i was looking for a way to pay down the debt through a no fee credit card transfer, it was non-existent; i am sure this would help someone

  • Jae Shim

    this is very applicable to travel. i’m planning a honeymoon now and i plan on using a mileage card to get miles, and transfer to this card to maintain a low fee and pay off over time. so this is definately a huge impact to my travel plans.

  • KellMill

    Thanks for this post. I actually sent you an email a while ago asking about balance transfers so while some people are complaining, I find it valuable.

  • PJ

    double check with AMEX last time I was told buying gift cards ( amex gift cards) does not count ;

    oh yes you can use amex to buy up the gift cards from your favorite Grocery stores or you can even prepay cables fees or wireless fees

  • PJ

    do you happen to know for sure how they report ( if they do) the AA miles to IRS ?

  • MeganS

    Thank you for this post. I am currently trying to pay off cc debt so that I can start to play the points game. I just used the link to apply and was approved. This will bring me one step closer to where I want to be – DEBT FREE.
    Thank you, thank you, thank you.

  • Anonymous

    Right, that is what I was referring to – buying Amazon gift cards, grocery gift cards, wal-mart gift cards, dept. store gift cards, etc. Seems like a nice way to take advantage of this offer!

  • Nikolaos

    Credit cards are an essential tool for the frequent flyer for many reasons. Getting information regarding the special features of them is invaluable. And i have no problem if the one provides this information is getting a commission for the service he provides, as long as the service is valuable. And in this case it is.

    Of course, all credit cards, as all offers, do not apply to everyone. The important think here, that makes your criticism a little bit unfair, is that the specific credit card has a feature that can be very important to some people, depending on which stage of their life cycle they are. And this makes this post “valuable”..not for all, but for a lot of people.

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