In many ways, the balance transfer fee is the bane of the balance transfer credit card world, often the one major flaw in an otherwise wonderful system. In addition to a competitive intro APR promotional period that allows you to enjoy a 0% APR for more than a year, and the lack of a pricey annual fee, the Chase Slate has a feature that few other cards on the market can match: no balance transfer fees. Why? Because it’s true super powers lie in being a no-fee balance transfer credit card. But, in the end, none of that truly matters when it comes to the Chase Slate. And you won’t receive a big ole signup bonus for your spending, either. For instance, you won’t find any fancy rewards no cash back, points, or air miles to pad your purchases. Admittedly, the Slate isn’t the most fetching at first glance. If ever there were a credit card not to judge by its cover, it is likely the Chase Slate. Popular Chase Slate balance transfer alternatives include the Discover it® Balance Transfer card and the BankAmericard® credit card. In this case, you’ll need to explore options from other banks. You can’t transfer a balance from one Chase credit card to another Chase credit card, even the Chase Slate card. So, even if you get an unheard-of $20,000 credit limit, you’ll only be allowed to transfer up to $15,000.Īdditionally, if you’re intending to transfer a balance from a Chase credit card, you’re out of luck. That’s because, regardless of your limit, the Chase Slate card caps balance transfers at $15,000, including fees and interest charges. This may (or may not) affect your balance transfer offer, so check with a representative to verify before requesting reallocation.Īt the same time, there’s only so much good you’ll do by increasing your Chase Slate credit limit. In other words, you may be able to transfer some or all of your credit line from another Chase credit card to your Chase Slate card, boosting your Slate limit. That said, Chase does allow cardholders who have multiple Chase cards to occasionally reallocate their credit lines. Only 3% of reviewers received initial limits above $10,000, and no one reported a limit over $20,000.Ĭredit Karma reviewers report an average initial credit limit of $3,000. Overall, it seems that if you’re looking for a balance transfer card for your five-digit credit card balance, reviews indicate you may need to look at other balance transfer card options. That said, you may fare better 16% of Credit Karma reviewers reported receiving a credit limit of $5,000 or above. Unfortunately, $3,000 can represent only the tip of the iceberg for some consumers. In particular, the average Credit Karma reviewer reported receiving an initial credit limit around $3,000.Ĭonsidering that you can’t transfer more than your credit limit can handle (in fact, most issuers, including Chase, tend to limit you to 90% your credit limit) the initial limit you’re given can make or break your balance transfer. The Achilles’ heel of the Chase Slate card is its credit limit, which many reviewers found a bit low for their balance transfer needs. Given all the pluses offered by the Chase Slate credit card, it can seem a little too good to be true to many consumers - and, to an extent, they may be right.
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