Chase Just Dropped a 21-Month 0% APR Card: Meet the New Slate

Who Should Apply for the Chase Slate?

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This card is ideal if you:

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• Are carrying a balance on a non-Chase credit card (you cannot transfer balances between Chase cards)
• Have a large purchase coming up and want to pay it off over time without interest
• Want nearly two years to pay down debt without accruing interest charges
• Prefer a straightforward card without annual fees
• Have good to excellent credit (typically 670+ credit score)

Chase Slate vs. Other 0% APR Cards

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While the Chase Slate offers one of the longest 0% intro APR periods at 21 months, several other popular cards combine 0% APR offers with ongoing rewards, something the no-frills Slate doesn't provide. Here's how they compare:

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Chase Freedom Flex®

[[ SINGLE_CARD * {"id": "2883", "isExpanded": "true", "bestForCategoryId": "52", "bestForText": "Cash Back Seekers", "headerHint" : "Cash Back Rewards" } ]]

Best for: Those who want to combine a 0% APR period with strong rotating category rewards

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Chase Freedom Unlimited®

[[ SINGLE_CARD * {"id": "497", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Cash Back Seekers", "headerHint": "Fantastic Cash Back Card"} ]]

Best for: Those who prefer flat-rate rewards without tracking rotating categories

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Blue Cash Everyday® Card from American Express

[[ SINGLE_CARD * {"id": "260", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Reward Seekers", "headerHint": "Cash Back Rewards Program"} ]]

Best for: Grocery shoppers and online shopping enthusiasts who want rewards plus a 0% APR period

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Blue Cash Preferred® Card from American Express

[[ SINGLE_CARD * {"id": "261", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Cash Back Seekers", "headerHint": "Popular Cash Back Card"} ]]

Best for: Heavy grocery spenders who can easily offset the annual fee with rewards (spending ~$115/week at supermarkets breaks even)

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Capital One Quicksilver Cash Rewards Credit Card

[[ SINGLE_CARD * {"id": "428", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Cash Back Seekers", "headerHint": "Straightforward Rewards"} ]]

Best for: Those who want simple flat-rate rewards without category tracking

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Capital One Savor Cash Rewards Credit Card

[[ SINGLE_CARD * {"id": "3041", "isExpanded": "true", "bestForCategoryId": "52", "bestForText": "Frequent Travelers", "headerHint" : "Excellent Choice" } ]]

Best for: Foodies and entertainment lovers who frequently dine out and attend events

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^{Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more. Eligibility and Benefit level vary by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.}

Important Considerations

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Credit Limit Reallocation

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Some users have reported that reallocating credit limits with the Slate card can be more challenging than with other Chase products. If you receive a lower credit limit than expected, contact Chase to discuss your options.

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Credit Score Impact

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Carrying a large balance - even at 0% APR - can temporarily impact your credit utilization ratio and lower your credit score. Plan to pay down the balance well before the intro period ends.

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Balance Transfer Restrictions

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You cannot transfer balances from other Chase cards to the Chase Slate. The card is only useful for consolidating debt from non-Chase credit cards.

Tips for Maximizing Your Chase Slate Card

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1. Calculate your monthly payment: Divide your total balance (plus the 5% transfer fee) by 21 months to ensure you pay off everything before interest kicks in.
2. Set up autopay: Never miss a payment, which could void your 0% APR offer.
3. Avoid new purchases: Focus on paying down your transferred balance rather than adding new debt.
4. Track your intro period end date: Mark your calendar for month 20 to ensure you're on track to pay off the balance.
5. Have a backup plan: If you can't pay off the full balance in 21 months, research balance transfer options before your intro period ends.

Why 0% APR Cards Are Making a Comeback

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The reintroduction of the Chase Slate, along with competitive offers from other issuers, suggests that 0% APR products are regaining popularity. This trend typically emerges when credit card debt levels are high (currently at record levels), consumer demand for debt consolidation tools increases, and interest rate environments stabilize. 

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For consumers struggling with high-interest credit card debt, this is welcome news.

The Bottom Line

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With 21 months of 0% APR, the reintroduced Chase Slate gives you nearly two years to tackle credit card debt or finance a large purchase without paying a penny in interest. If you're carrying balances on high-interest cards, this could save you hundreds or even thousands of dollars. Just remember: the key to success with any 0% APR card is having a solid payoff plan and the discipline to stick to it.