Because this card is for those who fall into a lower credit score, the fact there are no rewards is a good thing, because there will be no enticement to make purchases simply to get accumulate rewards. Ultimately, the benefit of the card is that it is standard and allows you flexibility without any unnecessary extras for new card holders.
The card also offers 0% interest on Balance transfers, which is a optimal for paying off any other credit card on other higher interest cards. This is also the only nationally advertised deal with no transfer fee. The max late fee is $35, which is very fair, and just enough to cause new card holders to want to avoid the charge again without too much a punishment. Some cards can charge as high as $50 in late fees. The card has good customer service, and online transfers are easy to do as well. Payments can be made using the Chase app also. There are text messages and email alerts which remind you to make a payment.
An interesting point to note is the vertical card design, as opposed to the standard horizontal one. I think the look of the card affects how people perceive and use the card, and because it's not as typical-looking, and perhaps not as aesthetically interesting otherwise, it may deter people from using it as much, which may be a helpful thing if you're trying not to spend but still need a card. It's a psychological connection, but worth noting.
The Chase Slate also has "Blueprint," a budgeting tool which helps you save money on interest and stick to your goals of paying down balances quicker. Just by having the card, this is completely free. Chase claims that customers who set up their plan and and stick to their “Split It” or “Finish It” Blueprint plan usually pay their balance two times faster compared to their other cardholders. This obviously saves a lot of money over time, and is a unique tool.
The Chase Slate card is good for those who are looking to build up their credit, or simply don't need a card with any extra bonuses. It is helpful to have in case of emergencies, and with the 0% introductory rate, you're not paying interest for the first year, which means you don't have to pay off the bill right away, a nice perk for those who do pay in full and on time. Even though there are no rewards, the simplicity of the card and how it encourages you to work to get better credit is the real reward of the card.… show more