One of the best ways that chase bank customers can reduce and consolidate their credit card debt and have more interest is the balance transfer card. In the course of this in-depth article, we would be learning what a balance transfer card is, and how it can help chase bank customer to meet their varied financial needs. Without further mouthing, let us delve into chase bank balance transfer offers and which card to use.
What is a chase balance transfer card, and what can it be used for?
- Interestingly, it can be used to pay off higher-rate credit cards. Here, you pick which cards you want to pay down and then transfer the amount of balance to your chase balance transfer card that has an eligible lower rate.
- A chase balance transfer card can also be used by a customer to consolidate balance. It can help chase a customer to manage their finances by putting together their multiple balances accrued from different credit cards into one.
- It can be used to make payments for unexpected expenses and also get cash. If you get a balance transfer check, it can be used to make payments for little expenses that you want to incur, knowingly or unknowingly.
A look at the Best Balance transfer cards that the Chase bank has to offer
What you should bear in mind when applying for a Chase balance transfer card
If you’re considering a credit card or balance transfer card, chances are you’re looking for a way to reduce and settle some balances on your credit cards. One of the biggest issues that you should be mindful of in this case is that the balance transfer card might not be the ideal option for all people who need to pay off their debts.
It might be the best option if you’re able to score the benefit of a 0 percent introductory APR or an intro balance transfer fee and are planning to pay off the amount within 0% intro APR time duration. However, if you fail to make the payment within the 0 percent intro APR time frame, you could end up paying a high rate of interest and fees which may annul the point of your balance transfer.
An overview of the Chase Slate Balance Transfer Card
One of the best options for a chase bank customer that wants to save money is the Chase slate balance transfer card. It is important to note that this card might not come with fancy rewards, but help a customer to consolidate and pay off their credit card debt.
The main benefit that can help the card to beat it’s rival Chase Freedom is the fact that it comes with an initial $0 balance transfer fee for balances. And this option is available when the customer makes transfers within the first 60 days of opening that account.
This means that you can transfer balances from your credit card to the card without having to pay an additional fee for the transfer.
However, you must keep track of the timeframe when you opt for the Chase Slate balance transfer card. The reason for this is that after the first 60 days, the account would be subject to a fee, which is 5% of the transfer amount.
An overview of the Chase Freedom Balance Transfer Card
This is an interesting balance transfer card that is available for customers that want to earn cash from purchases that they make. The chase freedom balance transfer card offers a quarterly rewards program for its customers.
It will earn you incredible 5% cash back on purchases of up to $1,500 total each quarter. However, these purchased together must be within bonus categories that rotate every quarter and must make sure you are able to activate them each quarter.
Conclusion: Which card is best suited for you?
The Chase balance transfer card that you wind up selecting is based on your needs and spending habits. If getting rid of the credit card balance is your main goal, The Chase Slate balance transfer card could aid you in achieving that goal but without the rewards that may encourage you to spend more.
Both cards are excellent options to transfer balances, but the one that is best for you will depend on the way you use it and where you’d like to save.