Applying for new credit cards is the single best method of
accruing miles and points. Using and paying off your credit cards allows you to
collect points for your every day spend and qualify for big bonuses. But
sometimes life gets in the way, and you may not be able to pay off your
balances. Or some live beyond their means and accumulate revolving credit
balances with high interest rates.
If this is your situation, then signing up for credit cards
may not be the best idea. But there is one card that can help ease the pain of
high interest rates. The Chase Slate card is the best product available for
balance transfers.
The details are:
0% Transfer fee- This sets this card apart from all other
credit cards with transfer offers. The best transfer fee that I have seen
outside of this card is 2% of the balance transfer amount. For a $10K transfer,
this feature is saving you $200.
0% APR – yep, another big fat goose egg. No interest for 15
months on all of your balances transfers and purchases. Even at a 12% APR, a
$10,000 credit card balance is costing you $100 of interest per month. Over the
course of a year with this card, you could be saving yourself $1200 worth of
interest.
$0 annual fee – the zero trifecta. No transfer fee, no
interest, and no annual fee. If you have a high interest rate credit card
balance where you are only making minimum payments, then you may want to
consider this card.
Bottom line, if you are not in the position to sign up for
miles and points bonus credit cards because you are carrying revolving credit
card balances, then you may want to consider applying for the Chase Slate card.
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