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Slate(SM) from Chase Review

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Chase Slate(SM) Proprietary Sites Only (Private)Chase really made a splash a couple months ago with their Blueprint payment program and their headline card with that program was their Slate from Chase card, which replaced their Chase Platinum Card. I thought the Blueprint program was certainly an interesting take on the recent “responsible credit card use phenomenon” that’s taken hold lately, so I wanted to take a closer look at their flagship card.

The Chase Slate card’s main selling point is that it is a no annual fee credit card that gives you access to the Blueprint suite of payment planning tools. Beyond the tools, the card also offers Balance transfers at 0% intro APR for 12 or 6 months* and purchases is 0% for See Terms*.

For those with debt, the Blueprint program and it’s full pay component, makes one good reason to join. With full pay, you can select certain categories to pay off each month and those category don’t accrue interest. If you carry a balance, those categories normally would, along with everything else, accrue interest.

For credit card holders that pay their balance each month, there’s no compelling reason for this card. All the features are intended for those with a balance and with no cash back offer, any cash back credit card is better.

I’d ask for your thoughts on the card but it seems very straightforward as the card doesn’t have many bells and whistles beyond the Blueprint program. Am I missing anything?

{ 24 comments, please add your thoughts now! }

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24 Responses to “Slate(SM) from Chase Review”

  1. zapeta says:

    The Blueprint thing is a joke in my opinion. Who needs the full pay feature? Just pay your card off every month!

    As you mentioned, with no rewards any other card is probably a better choice if you’re going to pay in full in each month.

    • Jim says:

      If you pay it off each month, then this card isn’t for you (as I said earlier). But if you don’t, then full pay lets you get a grace period on some of your purchases.

      • jay says:

        If you pay it off each much it’s not for you…if you don’t pay it off it’s not for you.

        A regular card you buy $200 and pay off $100 you pay interest on $100. With this card you select what you pay off..but if you you pay that $100 purchase you still are paying interest on the $100. NO DIFERENCE.

        So Regular Card…pay interest on $100. Slate you pay interest on $100 but you feel better b/c you didn’t pay interest on the Ipod nano you bought…but you pay interest on the groceries.

  2. aua868s says:

    great for a student….since i am well past the student days, i am turning my head to look elsewhere.

  3. Thanks for your honest review of this card.

    John DeFlumeri Jr

  4. Kymberlee says:

    This is silly. Pay what you can each month, it doesn’t matter which ‘bill/category’ you pay toward, its all the same in the end. 0% APR is great, but the concept is only cool if you Don’t think about it.

  5. confused says:

    it could be great if you use credit card for cash advances and regular purchases. just use the blueprint to pay the cash advances. not sure how this works when February 2010 and the new credit card laws go in effect.

  6. Izalot says:

    Well the 12 month to consolidate your credit cards is a pretty good deal. But no rewards…bah!

  7. aa says:

    Anyone who pays 10%+ interest on a credit card is a fool in my dictionary.

  8. aua868s says:

    aa….by your dictionary, most of the credit card holders in the world are fools…thats rude dude!

    • jay says:

      aa is just telling it how it is. You pay 10+% you shouldn’t buy it. Save up and then buy what you need. The good months put money away for the rainy day. Easy peasy…lemon squeezy.

      It may be rude but it’s the truth.

      Deciding what things to pay an extremely high interest rate on doesn’t matter…if you think it does you’ll just buy something you don’t need/ can’t afford…pay that off….but pay interest on things you need like food.

  9. eric says:

    Yup as straight forward a card as can be. For a different audience though since I look for rewards.

  10. Safeway_Sage says:

    I wouldn’t use it, but I think its a good way of bringing people who have no control in from the ‘hinterlands of chaos’. Have you ever heard the expression that ‘you don’t know what you don’t know’? As much as i don’t care for Chase, I think that by putting the bug in people’s head that there are other ways to use the card other than to carry a balance goes a long way to teach people how to use a credit card. Too bad they don’t have certification courses on how to use credit cards before having one issued to the user…

    • Jim says:

      That’s a really good point, just introducing that idea in a tangible way, educates people about how their card works. I bet a few people didn’t know that they don’t get a grace period on new purchases when they carry a balances (otherwise Full Pay wouldn’t make any sense). While that’s probably an unintended consequence, since Chase benefits from people not knowing, it’s better to have responsible borrowers than irresponsible ones.

      A certification course would be interesting…

    • lostAnnfound says:

      Well said. Anyway to show people how to properly use CC is a good idea. Some people have no idea because the did not learn about PF and how to manage money & debt.

  11. SeventhRain says:

    This card looks like a great solution for me. Some of the comments above are pretty closed-minded to the realities that some face. I am a 34 year old with 764 credit scores that has carried a balance for a while now, mainly due to life events that have made using the card the only option at times to pay for large purchases (Flight for 2 to Canada for my wife’s Grampa’s funeral on short notice: $1500) etc. I am now paying off those balances and really only ever use the cards for emergencies. This program is right up my alley in that I can transfer my balances to this card and pay no interest until 2011, and have tools to help me plan how to go about paying off the balance. I have done balance transfers to the vaunted “rewards” cards, but have never generatd much in the way of rewards because I rarely use the card. So, believe it or not, this card can help some people. Anyway, I am going to give it a try and see.

    • jay says:

      good luck w/ the 3% transfer fees….just save up and pay your balance every month. It doesn’t matter what you pay off… if you have a $200 balance you are paying interst on it….doesn’t matter if it’s for a flight or the groceries….it’s still a balance your paying.

      but if it makes you feel better saying I’m paying on a flight than just a normal balance then do it…but don’t get mad that the truth is that it doesn’t matter.

  12. Hank says:

    You bet it’s bargaineering. A bargain this year and then the other shoe will fall next year as an annual fee. Bet on it. Did you see all the insurance crap that Chase is ‘providing for free’ that went into effect 6/15/2010. There’s a fiddler playing here.

  13. miseenplace says:

    I am a Wamu customer who got sucked into the Chase acquisition. Chase replaced my card with this piece of junk. Unlike other credit cards it seems to be made from some kind of recycled crap. It’s flimsy, about 1/2 the thickness of other cards so I don’t put it in your wallet on a regular basis as it bends, will break and need to be replaced more often then a card made from more durable plastic. I pay off my balances every month so I don’t care about the interest rates or any other gimmicks like their stupid Blueprint maze of payment options, but I have to write in general that Chase stinks. Terrible customer service, – they’re lying jerks, unresponsive, the absolute worst financial services company I have dealt with in a long time. As long as you never anticipate any problems or issues like unauthorized use, etc… Chase is great. I won’t close the account, but this isn’t my “go to” card. If you’re thinking about Chase, keep stepping.

  14. Anonymous says:

    I used my slate card at Bjs today and the clerk told me to wrap my slate card with tinfoil so it cannot be read when in your wallet. She said it could be read in your pocket and get all your info. from the card

    • Jenn says:

      The clerk was talking in reference to the RFID chips. I work in retail. Those chips need to be read from a closer distance than the clerk implied. If you’ve ever held it up for non-swiping payment (like at a shoprite) then you know how difficult it is to catch. If, however, you still bear concern, please switch over to a metal lined wallet like those nifty new cigarette style cases. Just about all of them are metal which would interfere with any unsolicited readings of your plastic. In addition, they tend to have more room for your cards. (Not that you should carry more than two; a bankcard: drivers or id and various medical cards!!!)

      Signed,
      Your Concerned Cashier

  15. Ben says:

    Now I think they are offering 18 months of 0% for balance transfers. I am hoping to use this card for the simple purpose of transferring a balance from a high rate Bank of America card and paying it off over those 18 months. This will let me get everything in order and save a couple hundred bucks over the course of a year and a half. I have another rewards card I use and payoff each month(high rate) for daily purchases to accumulate cash back, but this looks like a great option to clean up my dreaded outstanding balance with Bank of America…People should check out mint.com too when looking for offers. They different credit card offers from affiliates – I have seen Chase, Discover, Amex, Capital One. You plug in your current interest rate, spending habits, current balance on other cards, and monthly payments. It then lists in order of how much the card will save you over 3 years in rewards and interest savings. Great little tool especially for people looking to pay down and OFF their old credit card balances.

  16. Donald says:

    I have been using the Freedom Card from Chase for over 2 years now and with the %5 on revolving categories (usually groceries and dept stores around the holidays, gas and airlines in the summer) I earn a few bucks a month which added up to over $340 at this point that I could cash in if needed. At this point I’ve never accrued any interest. I also have Blueprint with the Freedom card and therefore the only reason I’d open a Slate is if they offered 12 months 0% APR in which case I’d make a major purchase that I could pay off in a year and do so with no interest.

    If you have Blueprint on a Freedom card and can’t open up a 0% intro card to make a major purchase with for some reason then using the full pay option would be ideal. You can continue to use your card to buy groceries gas etc and earn cashback while paying off those monthly necessities and not accruing interest on the purchase,, that cash back can combat the expense of interest on your major purchase.

  17. jay says:

    Bottom line…pay your monthly balance no matter what card you have. Get a CC with a bonus cash back and pay the balance.

    Who cares if you can select what you pay off now or later. If you buy $500 for a TV and $500 for groceries…you have $1k in debt. With the slate does it help if you can pay off the groceries …you still have $500 that your paying interest on…who cares if that interest is on groceries or the TV…it works out to be the same as a regular card.


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