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Key takeaways
- The Chase Slate Edge℠* and Chase Freedom Limitless® are two standard Chase bank cards geared towards shoppers with good or glorious credit score.
- The Chase Freedom Limitless gives money again rewards and a shorter introductory APR supply.
- The Chase Slate Edge skips rewards in favor of an extended intro APR supply.
- The precise card for you will depend on your objectives and what you favor having essentially the most — extra time to pay down debt with zero curiosity or money again rewards.
The Chase Slate Edge℠ and Chase Freedom Limitless® have some overlapping options, but every card was designed to assist shoppers attain a special purpose. The place the Chase Slate Edge is geared towards individuals who must consolidate and pay down debt, the Chase Freedom Limitless works for individuals who wish to earn rewards whereas having fun with an introductory APR for a shorter time.
However which card is finest for you? Finally, that will depend on what you’re attempting to perform once you enroll. Beneath we examine these two Chase bank cards based mostly on their options and rewards that can assist you discover the fitting match.
Most important particulars
| Chase Slate Edge | Chase Freedom Limitless | |
| Annual charge | $0 | $0 |
| Signal-up bonus | While you pay on time and spend $500 in your first six months, you may be mechanically reviewed for a better credit score restrict. | Intro Provide: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening |
| Rewards fee | None |
|
| Introductory APR supply | 0 p.c intro APR for the primary 18 months from account opening on purchases and steadiness transfers (after that, a 18.99% – 28.99% variable APR applies) | 0 p.c intro APR for the primary 15 months from account opening on purchases and steadiness transfers (after that, a 18.99% – 28.49% Variable APR applies) |
| Stability switch charge | Intro steadiness switch charge of three p.c ($5 minimal) for the primary 60 days from account opening (then 5 p.c with a $5 minimal) | Intro steadiness switch charge of three p.c ($5 minimal) for the primary 60 days from account opening (then 5 p.c with a $5 minimal) |
Chase Slate Edge vs. Chase Freedom Limitless highlights
To choose the fitting card from the Chase Slate Edge or the Chase Freedom Limitless, it helps to understand how they stack up in an important classes. Right here’s a rundown of how these bank cards examine when it comes to their rewards charges, intro APR gives and costs.
Welcome bonus winner
Why it received
The Chase Freedom Limitless is the clear winner on this class. The cardboard’s bonus is pretty straightforward to earn: Spend $500 on purchases in your first three months of account opening ($50 per 30 days) and earn a $200 bonus. For these searching for an on a regular basis money again card, it is a very strong extra perk.
Then again, the Chase Slate Edge comes with a doable credit score line improve after making on-time funds and spending at the least $500 through the first six months. Chase promotes this as a “welcome supply,” however it doesn’t present as a lot worth as conventional welcome gives do.
Rewards fee winner
Why it received
The Chase Freedom Limitless comes with a extremely beneficiant rewards fee that may work nicely for shoppers who desire a bank card for on a regular basis spending and payments. This card gives:
- Take pleasure in 5% money again on journey bought by means of Chase Journey℠, our premier rewards program that permits you to redeem rewards for money again, journey, present playing cards and extra.
- 3% money again on drugstore purchases and eating at eating places, together with takeout and eligible supply service.
- 1.5% money again on all different purchases.
Against this, the Chase Slate Edge doesn’t supply any rewards in any respect.
Intro APR winner
Why it received
The intro APR supply class is the place the Chase Slate Edge actually shines, since this card provides you 18 months with 0 p.c intro APR on purchases and steadiness transfers, adopted by a variable APR of 18.99 p.c to twenty-eight.99 p.c. This supply is three months longer than the supply on the Chase Freedom Limitless, which solely provides you 0 p.c intro APR on purchases and steadiness transfers for 15 months, adopted by an 18.99% – 28.49% Variable APR.
Each playing cards even have the identical intro steadiness switch charge of three p.c with a $5 minimal for the primary 60 days from account opening, after which it rises to five p.c with a $5 minimal.
Why they received
Should you’re choosing a card based mostly on charges alone, you need to know that each of those playing cards have the identical charge construction. There are not any annual charges to fret about with both one, although each of those playing cards cost a 3 p.c international transaction charge when you use them for purchases overseas.
As said above, each playing cards even have the identical steadiness switch charge construction, which is 3 p.c with a $5 minimal for balances transferred within the first 60 days and 5 p.c with a $5 minimal after that time.
Which card earns essentially the most?
Because the Chase Slate Edge doesn’t supply money again for spending, the Chase Freedom Limitless would earn extra in rewards by default. Should you’re prepared to surrender the extra three months of the introductory APR interval that you’d get with the Chase Slate Edge, then you definately’d be capable of earn rewards with the Chase Freedom Limitless.
Understand that the Chase Slate Edge doesn’t earn rewards, so the query actually comes right down to: Is incomes money again extra vital to you than a further three months with an introductory APR?
Solely you may resolve, however it’s value noting that it’s significantly harder to pay down debt once you’re additionally utilizing a bank card for spending. If what you actually need to do is get out of debt, and also you wish to keep away from the temptation to spend extra to earn rewards, you could be higher off choosing the Chase Slate Edge.
Chase Slate Edge vs. Chase Freedom Limitless spending instance
How a lot of a distinction can this make? When you have appreciable debt at excessive rates of interest to consolidate, having a further 90 days with zero curiosity might simply prevent a whole lot of {dollars} in curiosity funds or extra.
Having 18 months with zero curiosity as a substitute of 15 might additionally provide help to get pleasure from extra inexpensive month-to-month funds as you’re employed towards changing into debt-free. If you might want to repay $5,000 in bank card debt, for instance, paying it off in 15 months with a 3 p.c steadiness switch charge would require a $344 month-to-month cost, whereas paying for 18 months with a 3 p.c steadiness switch charge would allow you to pay simply $287 per 30 days.
Why must you get the Chase Slate Edge?
Should you’re contemplating the Chase Slate Edge, you’ll wish to know in regards to the card’s extra advantages and the beneficial credit score rating you’ll have to be permitted.
Why must you get the Chase Freedom Limitless?
The Chase Freedom Limitless is commonly thought-about one of many prime money again playing cards in the marketplace, however the card’s intro APR supply makes it choice for paying down debt and huge purchases, too.
The underside line
Studying our Chase Freedom Limitless evaluation and Chase Slate Edge evaluation will help you uncover extra about each of those playing cards and the way they’ll profit you. Additionally, you will wish to assume lengthy and exhausting about whether or not you desire a longer timeline with zero curiosity on purchases and steadiness transfers or when you want to earn money again for every greenback you spend.
That mentioned, the actual fact bank card rates of interest are so excessive proper now — on common, over 20 p.c — might imply you’re higher off forgoing rewards and dealing on debt reimbursement as a substitute. You possibly can at all times choose up a brand new rewards bank card in a while once you turn into debt-free, and your debt will solely proceed to linger till you’re capable of do one thing about it.
*Details about the Chase Slate Edge℠ has been collected independently by Bankrate. The cardboard particulars haven’t been reviewed or permitted by the issuer.
