Key takeaways
- The Slate Edge® card from Chase can help you pay off credit card debt, with a no interest purchase and balance transfer option for 18 months. After the introductory period ends, a 20.49 percent to 29.24 percent APR applies.
- The Chase Freedom Flex® card also comes with a purchase and balance transfer option, this one features no interest for 15 months before the 20.49 percent to 29.24 percent APR kicks in. Its primary feature, however, is the ability to earn rewards, including 5 percent cash back on activated bonus category purchases each quarter up to $1,500, then 1 percent.
- Determining which card is right for you depends on whether you prioritize a long interest-free intro offer or a shorter intro offer but ongoing rewards.
The Slate Edge®* and Chase Freedom Flex®* are designed for cardholders with different goals. Taking a look at your priorities for the card will help you choose.
The Slate Edge card makes sense if you’re paying off debt and want to save on interest with a balance transfer and long 0 percent intro APR. On the other hand, the Freedom Flex card is a popular, no-annual-fee cash back rewards card that also offers a 0 percent intro APR, albeit for a shorter time frame.
Learn how the cards stack up and which might be right for you.
Card features
| Feature | Chase Slate Edge℠ | Chase Freedom Flex® |
|---|---|---|
| Annual fee | $0 | $0 |
| Welcome bonus | N/A | Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening |
| Rewards rate | None | 5 percent cash back on activated bonus category purchases each quarter (up to $1,500 in purchases, then 1 percent) and Chase Travel℠ purchases; 5 percent cash back on Lyft rides (through March 2025); 3 percent cash back on dining (including restaurants, takeout and eligible delivery services) and drugstore purchases; and 1 percent cash back on all other purchases. |
| Intro APR | 0% intro APR for the first 18 months on purchases and balance transfers. After the intro APR ends, a 20.49% to 29.24% variable APR applies. | 0% intro APR for the first 15 months on purchases and balance transfers. After the intro APR ends, a 20.49% to 29.24% variable APR applies. |
| Balance transfer fee | $5 or 3% of balance transfer, whichever is greater, on transfers made within 60 days of account opening. After, $5 or 5% of each balance transfer, whichever is greater. | $5 or 3% of balance transfer, whichever is greater, for the first 60 days. After, $5 or 5% of each balance transfer, whichever is greater. |
Chase Slate Edge vs. Freedom Flex highlights
While the Chase Slate Edge and Freedom Flex both have advantages, they’re geared toward different cardholder needs. Take a look at how these cards compare.
Welcome bonus winner
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As one of the top rotating category cash back cards on the market, the Freedom Flex is the easy welcome bonus winner. New cardholders can earn $200 cash back after spending just $500 in the first three months.
The Slate Edge doesn’t offer a welcome bonus. But cardholders will be automatically reviewed for a credit limit increase if you pay on time and spend $500 in the first six months.
Keep in mind that the Freedom Flex accrues that cash back in the form of Chase Ultimate Rewards points. So the welcome bonus can be viewed as either $200 cash back or 20,000 Ultimate Rewards points.
Rewards rate winner
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The Freedom Flex is the only option here if rewards are your main goal, as the Slate Edge doesn’t offer rewards.
And the Flex’s rewards aren’t too shabby.
You can earn 5 percent cash back on up to $1,500 spent in categories that rotate each quarter, then 1 percent. Activation is required for the rotating categories. Cardholders can also earn 5 percent back on Chase Travel purchases, 3 percent back on dining and at drugstores and 1 percent back on other purchases.
Freedom Flex’s cash back calendar typically includes popular categories like grocery stores and online shopping. Other categories like streaming services can make it tough to spend $1,500 and get the full rewards value. Even so, Freedom Flex can be a great all-purpose rewards card to have in your wallet.
Not only does the 5 percent cash back rate on Chase Travel℠ rival some of the best travel credit cards, but the Freedom Flex also pairs well with premium Chase cards like the Chase Sapphire Reserve®. That’s because your Ultimate Rewards are worth 50 percent more when you combine points with the travel card and book through Chase Travel or with transfer partners.
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These are both no-annual-fee credit cards, which makes this category a tie.
But if you want to wring more value out of your Freedom Flex’s rewards, you’ll want to combine your rewards under a Chase premium card such as the Chase Sapphire Preferred Card®, which does carry a $95 annual fee. Similarly, the Chase Sapphire Preferred® Card lets you get 25 percent more when redeeming points for travel, as well as the ability to transfer your rewards to hotel and airline loyalty programs.
Foreign transaction fee winner
Balance transfer offer winner
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If you need to hit pause on interest charges while paying off credit card debt, the Slate Edge is the best choice. It comes with a 0 percent intro APR for 18 months on both purchases and balance transfers — one of the longest balance transfer offers on the market. Then, the APR bumps to between 20.49 percent and 29.24 percent.
However, it also offers a unique APR reduction opportunity. If you pay your bill on time and spend at least $1,000 on your card by your first account anniversary, Chase will automatically reduce your ongoing APR by 2 percent. Ideally, you’ll be able to pay off your balance in full before the regular APR kicks in, but any option to reduce that ongoing APR could come in handy down the road.
Like many balance transfer cards, the Slate Edge charges a 3 percent or $5, whichever is greater, balance transfer fee within the first 60 days. After that, there’s a 5 percent or $5 fee on each transfer, whichever is greater.
You’ll want to have a plan to pay off the balance you transfer within the 18-month introductory period, because once the interest kicks in, it becomes like any other card balance. Bankrate’s balance transfer calculator can show you how long it will take to pay off your debt based on your monthly payment.
The Freedom Flex offers a 0 percent intro APR for only 15 months before a 20.49 percent to 29.24 percent variable APR applies. Still, if you want to continue using the card and earning rewards after the balance is paid off, you might opt for this cash back card.
Learn how one young millennial is using the Chase Slate Edge to pay off debt
Jared Wilder was in more than $30,000 of credit card debt. He’s using a balance transfer card and a personal loan to pay it off while saving money on interest. Read more.
Financing new purchases winner
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Both of these cards can help you chip away at a large expense, like a home repair, rather than spend a lot of cash upfront. Since both cards have a similar intro offer on new purchases, you should choose one based on your other priorities.
If you can make a shorter intro period work, the Freedom Flex not only allows you to finance your purchases for the first 15 months with no interest, but it also allows you to earn rewards on those purchases. You may even be able to time your purchases with one of the card’s rotating categories to earn 5 percent back on the first $1,500 you spend when you activate (and 1 percent on anything above that).
The card also comes with perks like purchase protection and extended warranty coverage, which can give you peace of mind.
But if you need more time to finance new purchases, the Chase Slate Edge gives you a few extra months. Just keep in mind that you won’t earn rewards.
Approval rate among Bankrate users winner
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When applying for either of the cards through Bankrate, 34.3 percent of Bankrate users were approved for the Freedom Flex, compared to 28 percent who were approved for the Slate Edge.
It’s worth noting that, because of the Slate Edge’s long intro offer, the card might receive more applications. It also might attract more debt-carrying applicants, whose credit scores may reduce their chances of being approved.
Which card earns the most?
Freedom Flex is the only option that will earn you rewards, but it can depend on how strategic you are with your spending. You’ll have to activate and use your card in the quarterly 5 percent categories to get maximum value.
That said, earning 3 percent at restaurants and drugstores can add up as well.
How to maximize earning with the Freedom Flex
Let’s say you max out your spending with the Freedom Flex in the 5 percent categories each quarter. That spending alone will earn you $300 in cash back a year (or 30,000 Ultimate Rewards points).
Now let’s say you also spend $1,000 a year on travel booked via the Chase Travel portal at the 5 percent rate — that’s another $50 in cash back.
Lastly, estimate that you spend $6,000 per year at restaurants for another $180 and $1,000 per year at drugstores for $30 at the 3 percent rate.
All that spending adds up to $560 a year in cash back.
Why should you get the Slate Edge card?
With credit card interest rates currently averaging above 20 percent, it’s best to tackle credit card debt as quickly as you can. The Slate Edge buys you time — 18 months — to pay off debt without accruing more of that high interest.
Slate Edge cardholders are also eligible for a credit line increase by paying on time and spending $500 in the first six months, which could help reduce your credit utilization and boost your credit score.
And Chase will automatically consider you for a 2 percent APR reduction if you spend $1,000 by your next account anniversary and make timely payments on your balance. The potential to decrease your APR is unique and can save you money if you carry a balance after the intro period.
Why should you get the Freedom Flex card?
The Freedom Flex is a good cash back rewards card for anyone willing to strategize their purchases. However, it truly shines as an addition to a comprehensive Ultimate Rewards strategy.
If you already have a premium Chase card such as the Sapphire Preferred or Sapphire Reserve, adding the Freedom Flex to the mix will allow you to earn more rewards in quarterly categories and boost your Ultimate Rewards stash.
The bottom line
When choosing between the Chase Slate Edge and Freedom Flex, it depends on your current relationship with credit card debt and reasons for getting a new card.
If you have debt and are looking to transfer it to a new card to save money on interest, the Slate Edge offers a longer 0 percent intro APR period. But if you want to earn rewards on your spending — and possibly still benefit from a shorter 0 percent intro APR period — the Freedom Flex can be a great pick.
The information about the Slate Edge® and Chase Freedom Flex® has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.
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