| by Mr Credit Card |
The Slate® from Chase is a great card to get (this is a Visa) if you looking for a low rate card or one with a great 0% Intro APR deal. That is because at the moment, they are offering a 0% Intro APR* for balance transfers for up to 12 months with no balance transfer fee if you transfer within 30 days of getting the card. Let’s find out more about this card.
The Slate(SM) from Chase on the surface appears to be a vanilla Visa credit card but with a different twist to it. Chase has a built in program called BluePrint that makes life easier to manage one’s credit card. Here is how it works.
What is BluePrint? – I’ve taken a screen shot of the Chase page with some of their so called “features”. Essentially, BluePrint is a set of tools that let’s a cardholder see how long they would take to pay off their balance, and let them set “what if” scenarios. With these tools, it gives card holders a better idea and more importantly a plan to pay off their balance and set a plan.
Pay off larger purchases at your own terms – According to someone I know at Chase, what they are doing is to comply and go above what is required from the latest CARD Act. The most interesting feature is that if you carry a balance, you can set which particular items you would like to pay in full. For those items which you have designated as “pay in full” items, you will not incur finance charges and you will still get your grace period for those items even though you are carrying a balance. This is much better the traditional credit cards where the grace period does not apply and you will incur finance charges on all balances when you do not pay in full.
Pay down your balance faster – Chase is offering a tool for you to pay down your balance faster. Which is a good thing (though here at Ask Mr Credit Card, we always recommend that you pay your balance in full every month). This allows you to set a payment plan if you carry a balance.
Verdict – I think the Slate® from Chase Card will appeal to folks who occasionally carry a balance on their credit card. By setting a pay in full schedule for regular items like groceries, they can avoid incurring finance charges on these items even though they may carry a balance due to other purchases. This is better than the traditional credit cards where every purchase incurs a finance charge and there is no grace period as long as you carry a balance. But with this card (or other Chase credit cards with the BluePrint feature), you do not incur those charges with items that you designate to pay in full.
This card has a 0% introductory APR* for balance transfers for up to 12 months with no balance transfer fee if you transfer within 30 days of getting your card and will appeal to folks looking to transfer a balance.
There is also no annual fee with this card, the design is very nice and some folks may actually find the Slate® from Chase with its’ blueprints’ features very helpful.
For those who pay in full or looking for rewards, Chase has a couple of other cards like the Chase Freedom® Visa – $150 Bonus Cash Back, which offers cash back rewards (and also has the blueprint feature) and would be a better choice for many folks.
If you are looking for a vanilla card with low rates, then you should shop around for other cards as they are probably cards with lower rates.
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October 2nd, 2009 at 01:04
I think you are missing the most important point of the BluePrint program: my understand is that it lets you to keep the grace period for the selected “pay in full” categories. In other words, the card acts like a charge card for those categories as long as you pay them in full, even if you are carrying an overall balance.
Of course, you can accomplish the same thing by using two cards: one for pay in full and another for carrying balance. But by using one card under BluePrint instead, you can consolidate reward points (which Slate doesn’t have, but it will be useful for Chase Freedom)
I don’t carry balance anyway, but I can see how this program benefit others who do.
April 8th, 2010 at 09:05
As far as minerals go, ‘Slate’ is a far cry from ‘Platnum’, ‘Silver’, or ‘Gold’. Seems like a slam to me and I think I will bury my ‘Slate’ card in the ground where it belongs.
What bozo’s come up with this stuff anyway?
May 14th, 2010 at 14:08
In theory it sounds nice – but in real world application I doubt it will have the intended effect – that is, it will help assist consumers in paying down their cards. Instead, given the attitude towards debt in this country (Just look at all the people walking away from their mortgages because they think it’s an unfair deal even though they can afford the payments — WHO RAISED THESE PEOPLE?) it sounds like the Slate plan will actually have the opposite effect, and instead it will increase the debt — which increases fees which increases Chase’s bottom line. I’ve grown increasingly disappointed with my Chase, and this new slate program is the last straw.
And for the record, I am a financially independent 23 year old who, besides standard student loans, is debt free with immaculate credit. And No, I don’t have a trust fund – I just spend within my means. Live it. Learn it.
May 14th, 2010 at 14:18
good for you that you have no credit card debt. keep up the good work and save!
May 22nd, 2010 at 19:02
We HAD a Platinum VISA! The reason we had Platinum is because we normally made BIG payments in order to keep a zero or low balance. I agree with John! I would rather have the Slate on my floors! I don’t trust a single thing that Chase does (because they are NOT trustworthy), and everytime they make another change to my accounts it drives me further towards another bank. I have already moved one account. Moving accounts with automatic deposits and withdrawals is a pain in the neck, but there does come a time!
May 25th, 2010 at 14:24
In today’s mail, I received notice from Chase that they have “upgraded” my VISA Platinum to Slate with BLUEPRINT. This is something they took the liberty of doing on their own without my foreknowledge. After reading the term and conditions for Slate then comparing it with the terms & conditions for my existing Platinum, it turns out that it’s actually a significant downgrade. Here is why.
Chase is reducing my grace period from 25-days on VISA Platinum to 21-days on Slate, which translates into at least 3 additional billing cycles per year. Also, Chase is jacking up the APR to 17.25% on Slate from the 8.9% I had on the VISA Platinum, despite me having a 786 FICO score. Further, I have never missed any payments in 12+ years; I routinely utilize less than 4% of my available credit limit; my bills are faithfully paid on time and in full each month; and other than my monthly credit card charges I am completely debt free. In the end, there are no justifications for Chase to make these changes, other than it being a blatant attempt to set the screws to consumers.
But that’s okay because for several months I have read and heard about numerous other consumers that Chase has treated this way. As a result, I have been laying in wait for them to do this to me. As a result, the end of the road between me and Chase arrived today. I went down the street and opened a checking, savings and VISA Platinum account with a credit union. I ended up getting a 7.25% fixed rate VISA with 25 to 30 days grace period. Then I came home and booted Chase to the curb. Chase can stick that in their pipe and smoke it!
May 26th, 2010 at 19:37
Based on the information Brian posted previously, it appears I have received the same notification from Chase. My Platinum Visa is also being changed to a Slate card. The terms & conditions are adversely changing also. The rates are markedly going up; the fee schedule has increased; and the grace period has been reduced. None of it makes sense because my lowest FICO score is 774. The other two scores are 778 and 781. (The Experian score was provided to me by a small locally owned bank that I have done business with for years.)
My debt consists of a bi-weekly mortgage, 4 of 6 credit cards are actively used, and 4 student loans. My debt-to-income (DTI) ratio is very favorable. After the mortgage payments, monthly living expenses, credit card bills and student loans are paid, I still have 79% of discretionary monthly net income remaining. I have no history of late or missed payments. I seldom use no more than 2.5% from the $28,900 total in credit card limits, and the balances are habitually paid in full and on time. In 2 years, $46,000 in student loans have been reduced to $9,800, which puts me 10+ years worth of payments ahead on the 15-year payback schedule. So the changes being imposed by Chase are completely unwarranted.
I agree with the other people who are sick of Chase and their predatory practices. I opened a Visa Platinum account today at a local credit union. I received a $18,000 credit limit, plus 6.25% variable rate APR, which is based on the prime rate + 3% margin. It isn’t one of those cards with an introductory teaser either. The 6.25% APR is good for purchases and cash advances. Balance transfers up to $15,000 are available at 1.9% for 12 months. The grace period is 26-days and there isn’t an annual fee for the card. Best of all I can pay it online or walk-in to one of their local offices and pay on the spot.
Good riddance and adios to Chase.
June 5th, 2010 at 12:53
After Chase took over Washington Mutual / Providian, they got rid of a really good feature on WaMu Visa Cards: free automatic updates to your TransUnion credit score online every month so you could track your progress.
Admittedly, WaMu’s business model was going after high-risk customers, which is part of the reason they got into trouble.
On the other hand, can someone explain to me why Chase, after they took over my WaMu / Providian Visa (originally PayPal Visa), cut my limit in half and jacked up my annual rate to over 27% (from 11%), citing bad risk? If I had a FICO score of, say, 600, OK, but I have a score with all the major credit bureaus of around 750. Go figure.
In my experience, big organizations like J.P Morgan / Chase / Bear Stearns / Washington Mutual / Providian / Chemical Bank / Manufacturers Hanover / BankOne / etc. tend to be inefficient and slow, especially after their most recent takeover, hostile or not. Their customer service is rude and often “outsourced” and treats you like they in turn have been treated by their powerful, aggressive (speak I don’t care for small accounts) employer: like crap.
My local credit union serves me much better. With them, it’s the little things that count, for example, they submit a positive entry to all three credit bureaus each and every month, even if my accounts with them have no activity.
So my motto is: for small things like rewards programs – the only reason I’m still with Chase Visa is to get THEM to pay ME through the rewards program – go to a big bank. For big things like mortgages and car loans, go to a local credit union where you will be treated like royalty, and they will think twice before reposessing you or calling in their loans, because to them you are not just a small account but maybe an average or even a big account.
Chase credit cards just plain suck. Avoid them unless, and only unless, you are absolutely sure it’s just a “fun” card you will pay off completely every month – at least 10 days in advance — and collect bonus points with. I actually overpay my account with them by $50 to $100, maintaining a debit balance with them. Otherwise you will get slammed by them right and left.
August 23rd, 2010 at 15:08
I have this Slate card How dod i know what my credit limit is?
August 30th, 2010 at 15:32
The Chase Slate credit card is absolutely useless. If you are planning to apply for it, please dont. They did give me a 0% rate for 12 months, but without my knowledge, they decreased my credit limit by 2100 dollars. This was just all of a sudden. I have excellent credit and I have never missed a payment. My FICO score should be 740+. This is the only card I had a balance on. They are using unfair practices to make money. Bottom Line – dont get a CHASE anything. They are total rip offs.
September 8th, 2010 at 13:26
Can you imagine trying to look up the number to call on the back of the card in a low light situation? It is almost impossible to read even with the light at my desk. The designer of this card should be shot. Everything written on the back of it is practically illegible. I appreciate the information on the Slate card provided here and will look for one to change to as soon as I can.
September 11th, 2010 at 12:54
The chase Slate is absolutely meaningless. For me , they gave me 0% rate for 12 months at first but they start to charge interest after 6 month. This card will totally ruin our credit. So, if you are planning to get it then do not get it.
September 22nd, 2010 at 11:42
Can you tell me if the credit card number/name/expiration date is printed or embossed on this card?
Thanks,
Scott
October 4th, 2010 at 13:06
It’s embossed, but barely, and it’s not punched through from the back. The back is smooth.
October 26th, 2010 at 10:56
The Slate Blueprint credit card plan is just deceptive lending practices that Chase Financial is promoting. Be very careful about what plan you choose becuase it may not work in the manner you intended.
The way the plan is promoted, you select large purchases you have charged to your credit card and you separate them out into a promotional program called Blueprint to be paid out over the period of time selected by the customer. You will be charged a promotional interest rate on this segregated balance similar to any installment note. You are led to believe that your other normal purchases will be kept separate from this Blueprint and if paid off monthly, no interest will be charged on these normal purchases.
In reality, interest is charged on all of your balances at the same rate. There is no promotion benefit whatever. You are charged interest on the entire balance as if you did not pay the entire prior month’s balance by the due date. Even if you pay the sum of the Blueprint payment plus the prior month’s purchases, you pay interest on the entire prior month’s balance.
When Chase was contacted about this, they said that the plan was never intended to allow other normal purchases to be paid off. They said this just gives purchasers a “Blueprint” to assist them in making their payments. What effect it has on credit ratings and future interest rates is unknown.
Obviously, if you do not pay off the prior month’s credit card balance, you will be charged interest on all credit cards. The deception is that Chase is acting like this Blueprint gimmick is in same way benefiting consumers. In reality, it does nothing but mislead consumers to increase their debt load in hard times. The moral of the story is pay off your credit cards and do not fall for sales gimmicks.
November 23rd, 2010 at 07:30
I have a regular Chase card which does not expire till late 2011. Although I did not apply for it, today I received a Slade card with the same account number on it.
So why in God’s name do they want you to call some phone number to activate this new card??
I knew this had to be a scam because all the supposed “benefits” of a Slate card have nothing to to do with the card itself – its the same account number – they are all just differences in Chase’s computer programming for their website. No need to get a new card for that.
This has happened before years ago a couple times. A bank has sent me a new “replacement” card long before the one I currently have expires. Nothing wrong with the current card, so why are they sending me a “replacement”?? Just call that phone number to activate it and destroy your old card?? NO WAY!! Don’t do it – they would not bother with the cost of the new cards unless there was some thing in it for them. Which means there is nothing in it for you – less than nothing actually since any benefit for them is a loss for you.
Shame on you Chase!!
December 6th, 2010 at 22:50
Same as David, my “washington mutual” card did not expire until late 2011, and out of the blue I was sent this Chase Slate Card. When I called the 1800# to ask why I was being sent this card, the foreign woman on the other end of the phone instantly tried to hurry me along the activation process. I asked her my questions and all she kept on saying was,” this is a new card with an array of benefits maam”.It was almost as if she was reading a script. I am very disappointed with Chase for the way my card was changed without any prior knowledge. I do miss the early days of the providian website. Risky or not, they gave me a chance to establish my credit, through thier website I was able to monitor my score at the three bureaus and track my progess.
December 23rd, 2010 at 00:25
I received the Slate cards in the mail for 2 of my existing accounts. The cover letter says “Same account number, Same APR, Same credit line”, so I’ll have to check to see if that’s true. I noticed that the new card has “blink” which allows you to wave your card in front of a reader instead of swiping it. A recent TV feature indicated that the RFID technology, while convenient, may require you to ensure the “blink” feature is not read by a criminal reader by carrying the cards in a protective metal sleeve.
http://www.idstronghold.com/card-security-risks.asp
January 13th, 2011 at 21:23
This card is a joke. And so is Chase’s new fee schedule. I could get better rates from a local loan shark. SLATE? WTF? Who dreams up this stuff? How does that relate to a Gold or Platinum Card? Sems pretty lowly to me. Around here it’s a roofing material. Egad. Guess I better not piss off Chase – I might get downgraded even further to a Granite card. Slate sounds like something Santa Claus would put in bad children’s stockings when he ran out of coal… Goodbye Chase. And good riddance.
January 14th, 2011 at 11:00
This card is $10 per month, zero interest for one month only. Not a good deal.
February 13th, 2011 at 16:00
My Chase Platinum card is about to expire and I was sent the Slate card. This is without a doubt the ugliest credit card I have ever seen. It is vertical and the numbers and letters look like a store credit card and are barely embossed. They also removed the Cardmember Since date. This is all after they raised my APR from 7.9% to 14.24% variable early last year. I want so badly to close the account but it is 10 years old, closing it will hurt my FICO, but I hate this design so much that it might be worth it.
March 14th, 2011 at 15:33
ive lost my card and need to report it. who can i call?
July 18th, 2011 at 23:00
I just received my new card. I’ve gone through several different companies owning my credit card account. I started out as a master card and got changed over to visa. Have no idea how the hell that happens. I’ve been using my card since 1998. I won’t be using this new card ever, under any circumstances. It looks cheap, and dangerous to use, and the blink aspect on it makes it easy for anyone to steal your ID and card number just by walking past your back with an electronic device that can be easily purchsed for this purpose.
September 24th, 2011 at 13:22
I had my Chase Freedom card on automatic payment of the full monthly balance from my checking account to avoid interest charges. Somehow I got switched to Blueprint to automaticly pay in full all “covered categories”. Last month I had a balance of $365 including a purchase of pet food made at a vet’s office of $15. Apparently vet office charges are not considered “covered charges” so the automatic payment of $350 left a balance of $15 on my account and I was charged a “minimum interest charge” of $1.50, 10% per month or 120% per year!
I called customer service and complained, and they agreed to waive the $1.50 interest, and was told if I go to a Chase branch I could arrange for automatic payment of the full balance.
Credit card companies consider cardholders like myself who pay off their cards in full to be freeloaders. They go to extremes to tempt cardholders with “free” checks and gimmicks like Blueprint hoping you will slip up and they can ding you with exorbitant interest.
September 27th, 2011 at 08:40
every issuers who ideally like to have folks carry “a little balance” rather than pay in full, especially for no annual fee credit cards cos they can only earn their money from interchange fees!
December 4th, 2011 at 22:49
I recently got an offer in the mail for a Chase Slate wit blueprint which comes with 0% intro. APR on both purchases and balance transfers until 2013. I have a $2K balance on another credit card and thinking about transferring the balance to this card. Would this be a wise move?
December 6th, 2011 at 22:56
I think so since you pay 0% interest for 12 months and you avoid paying any bt fees.
December 23rd, 2011 at 18:56
CHASE IS A JOKE