Chase Slate Edge

Chase Slate Edge Review

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Benefits

  • $100 offer: earn $100 statement credit after spending $500 in the first 6 months.
  • Get an automatic, one-time review for a higher credit limit when you pay on time, and spend $500 in your first 6 months.
  • 0% intro APR for 12 months on purchases and balance transfers from account opening.
  • The balance transfer fee is 3% ($5 minimum) in the first 60 days. After that, the balance transfer fee is 5% ($5 minimum).
  • Lower your interest rate by 2% each year. Automatically be considered for an APR reduction when you pay on time, and spend at least $1000 on your card by your next account anniversary. Note that the lower bound of APR is prime rate + 9.74%.
  • No annual fee.

Disadvantages

  1. No rewards.
  2. It has foreign transaction fee, so it’s not a good choice outside the US.

Recommended Application Time

  1. [5/24 Rule] If you have 5 or more new accounts opened in the past 24 months, Chase will not approve your application on this card, no matter how high your credit score is. The number of new accounts includes all credit card accounts, not only Chase accounts. See this post for details about how to possibly bypass this rule.
  2. This product is available to you if you do not have this card and have not received a new cardmember bonus for this card in the past 24 months. Note that what matters here is the time you got the sign-up bonus, not the time you open the account or close the account.
  3. Don’t apply for more than 2 Chase credit cards within 30 days, it’s highly likely that you will get rejected.
  4. The time when you really need to borrow money from banks.

Summary

This card is a replacement for the recently discontinued old Chase Slate. It is good for people who really need to borrow money from banks, and is not suitable for people seeking rewards.

After Applying

  • Call 800-436-7927 to check Chase application status. This is an automated telephone line, and the information has the following meanings: Receive decision in 2 weeks means your application is probably approved; Receive decision in 7-10 days means your application is probably rejected; Receive decision in 30 days simply means your application requires further review and there’s nothing to tell you for now.
  • Chase reconsideration backdoor number: 888-270-2127 or 888-609-7805. Call it if you didn’t get approve immediately. Your personal information will be acquired and they will then review it. You seldom answer questions, instead, just enjoy the music and then you get approved or rejected, or further information is needed to be hand in to the branch or faxed.

Historical Offers Chart

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