While the Chase Slate Edge℠* and Chase Freedom Unlimited® have some overlapping features, each card is designed to help consumers achieve different goals: The Chase Slate Edge is for people who need to consolidate and pay off their debt, while the Chase Freedom Unlimited is for people who want to earn rewards while enjoying a short-term introductory APR.
But which card is best for you? Ultimately, it depends on what you’re trying to accomplish when you sign up. Below, we compare these two Chase credit cards based on features and benefits to help you find the one that’s right for you.
Key details
| Chase Slate Edge | Chase Freedom Unlimited | |
|---|---|---|
| Annual Fee | $0 | $0 |
| Sign-up Bonus | none | You’ll earn 1.5% extra points on everything you buy (up to $20,000 spent in the first year), which equates to up to $300 in cash back. That means 6.5% on travel purchased through Chase Travel, 4.5% on restaurants and drugstores, and 3% on all other purchases. |
| Reward Rate | none |
|
| Introductory APR Offer | 0% introductory APR on purchases and balance transfers for the first 18 months after account opening (then a variable APR ranging from 20.49% to 29.24%) | 0% introductory APR on purchases and balance transfers for the first 15 months after account opening (then a variable APR ranging from 20.49% to 29.24%) |
| Balance transfer fee | There is a 3% initiation fee (minimum $5) for the first 60 days after account opening (5% with a minimum of $5 thereafter) | There is a 3% initiation fee (minimum $5) for the first 60 days after account opening (5% with a minimum of $5 thereafter) |
Highlights of Chase Slate Edge vs. Chase Freedom Unlimited
To choose the right card between the Chase Slate Edge and the Chase Freedom Unlimited, it helps to know how well these cards perform in the categories that matter most. Here, we compare the points rewards rates, introductory APR offers, and fees for these credit cards.
Welcome Bonus Winners
Why did we win?
The Chase Freedom Unlimited is the clear winner in this category because it’s the only card that offers rewards based on spending, and its welcome bonus is easy to earn because there’s no minimum spend threshold: You just earn 1.5% extra points on everything you spend up to $20,000 on in the first year (worth up to $300 cash back).
And remember that this card’s welcome bonus is on top of the cash back you earn on every purchase, which works out to 6.5 percent on travel purchased through Chase TravelSM, 4.5 percent at restaurants and drugstores, and 3 percent on all other purchases.
Meanwhile, the Chase Slate Edge can increase your credit limit if you make payments on time and spend at least $500 in the first six months. Chase advertises this as a “welcome offer,” but it’s not as valuable as a traditional welcome offer.
Payout Rate Winner
Why did we win?
The Chase Freedom Unlimited has a very generous rewards rate that makes it a great choice for consumers who need a credit card for everyday spending and paying bills. This card offers the following benefits:
- Earn 5% cash back on Lyft rides (through March 31, 2025) and trips booked through Chase TravelSM.
- 3% cashback on purchases at restaurants, drugstores, etc.
- 1.5% cashback on all other items
In contrast, Chase Slate Edge doesn’t offer any rewards at all.
Why did we win?
The introductory APR offer category is where the Chase Slate Edge really shines. The card offers a 0 percent introductory APR for 18 months on purchases and balance transfers, followed by a variable APR of 20.49 percent to 29.24 percent. This offer is three months longer than the offer on the Chase Freedom Unlimited, which offers a 0 percent introductory APR for 15 months on purchases and balance transfers, followed by the same 20.49 percent to 29.24 percent variable APR.
Both cards have a balance transfer fee of 3 percent with a $5 minimum for the first 60 days after the account is opened, rising to 5 percent with a $5 minimum thereafter.
How big a difference can this make? If you have a lot of high-interest debt to consolidate, an additional 90-day interest-free period could easily save you hundreds of dollars or more in interest payments.
By paying no interest for 18 months instead of 15, you can enjoy more affordable monthly payments as you work towards paying off your debt. For example, if you have $5,000 in credit card debt to pay off, paying it off over 15 months with a 3 percent balance transfer fee would require you to pay $344 per month, but paying it off over 18 months with a 3 percent balance transfer fee would require you to pay only $287 per month.
Why they won
If you’re choosing a card based solely on fees, you should know that both of these cards have the same fee structure: You won’t have to worry about annual fees with either card, but there’s a 3% foreign transaction fee if you use these cards to make purchases abroad.
As mentioned above, both cards have the same balance transfer fee structure: 3 percent with a $5 minimum on balances transferred in the first 60 days, and 5 percent with a $5 minimum thereafter.
Which card will earn you the most?
Because the Chase Slate Edge doesn’t offer cash back on spending, the Chase Freedom Unlimited earns more rewards by default, and you can earn rewards with the Chase Freedom Unlimited if you’re willing to give up the extra three-month introductory APR period you get with the Chase Slate Edge.
Chase Slate Edge and Chase Freedom Unlimited Spending Examples
Depending on your situation and how you use your card, these perks may or may not be worth it. Consider the following example:
Let’s say you currently have the following expenses:
- $1,000 per month for gas, groceries, and miscellaneous expenses
- Dining out (including takeout and delivery) $500 per month
In this scenario, you’d earn $30 in rewards each month: $15 in rewards at the card’s 1.5 percent rate on gas, groceries, and other spending, and $15 in rewards at the card’s 3 percent rate on dining out. That gives you $360 in rewards per year. Because the welcome bonus gives you an extra 1.5 percent on all purchases, you’d earn another $270 on $18,000 in annual spending, for a total of $630.
Keeping in mind that the Chase Slate Edge doesn’t earn points, is earning $630 in the first year enough to justify giving up three more months at the introductory APR? The decision is yours to make, but keep in mind that it’s going to be much harder to pay off your debt if you’re also using a credit card to make payments. If what you really want is to pay off your debt and you want to avoid the temptation to spend more money to earn points, the Chase Slate Edge is the better choice.
Why should you buy the Chase Slate Edge?
If you’re considering the Chase Slate Edge, you should know about the card’s additional perks and the recommended credit score needed for approval.
Additional Benefits
In addition to being a great balance transfer card, the Chase Slate Edge also offers a 2 percent interest rate reduction each year you pay your bills on time and make at least $1,000 in purchases by each card anniversary. This rate reduction will occur each year you qualify until your interest rate reaches the prime rate plus 9.74 percent.
Other perks include purchase protection against breakage and theft, extended warranties, secondary rental car coverage, roadside dispatch, etc. Partner perks include three months of DoorDash DashPass membership free (must sign up by December 31, 2024), but you must sign up and cancel your subscription before the three months are up to avoid being automatically charged for each service.
Exchange Options
Chase Slate Edge doesn’t offer rewards, so there are no redemption options to compare.
Recommended Credit Score
This card is targeted at individuals with good to excellent credit, such as a FICO score of 670 or above.
Why should you buy the Chase Freedom Unlimited?
The Chase Freedom Unlimited is often considered one of the best cash-back cards on the market, but the card’s introductory APR offer also makes it a good choice for paying down debt or making a large purchase.
Additional Benefits
Chase Freedom Unlimited incorporates several consumer protections, including purchase protection against damage and theft, extended warranties, trip cancellation and interruption insurance (up to $1,500 per person and up to $6,000 worth per covered trip), secondary rental car coverage, and travel and emergency assistance services.
You’ll also receive three months of DoorDash DashPass membership if you sign up by December 31, 2024. Like the Chase Slate Edge, you’ll need to cancel your subscription within three months to avoid being automatically charged after the promotional offer ends.
Exchange Options
The card offers cash back that can be redeemed for statement credits, gift cards, merchandise, experiences, travel, and more through the Chase Ultimate Rewards portal.
Even better, you can pair this card with other Chase cards to make your rewards even more valuable. For example, with the Chase Sapphire Reserve®, you can earn 10x points on hotel stays booked with Chase Travel, while earning 1.5 percent cash back on other purchases with your Freedom Unlimited card. You can then pool all your rewards into your Sapphire Reserve account, which is worth 1.5 cents per point (instead of the standard 1 cent per point).
Recommended Credit Score
This card is targeted at individuals with good to excellent credit, such as a FICO score of 670 or above.
Conclusion
Read our Chase Freedom Unlimited review and Chase Slate Edge review to learn more about these two cards and how they can benefit you, and to think long and hard about whether you’d prefer a longer interest-free term on purchases and balance transfers, or earn cash back on every dollar you spend.
That said, the fact that credit card interest rates are so high right now might mean that you’re better off giving up on points and working on paying off your debt instead. You can always get a new points credit card once you’re debt-free, and the debt will just stick around until you can do something about it.
*Information about the Chase Slate Edge℠ was collected independently by Bankrate. Card details have not been verified or endorsed by the issuer.
