Huh, that’s weird, I could have sworn the Slate card was removed? If you go to the list of credit cards that Chase offers, you wont see the Slate card there either. So how are people getting mailers? Is this just another coronavirus related scam?
Actually, no, it isn’t a scam. Think about it like this. With Chase trying to alleviate all of the risk it can, wouldn’t it make sense to (potentially temporarily) remove the ability to get the Slate card? After all, the entire point of the Slate card is to transfer balance to it, and it’s targeted to people that would be the most vulnerable right now. So you have the riskiest card, going to the riskiest people.
But, so what about the mailers?? Well, that’s simple. Chase is trying to target people that aren’t that risky for the same offer! If you happen to have been targeted for a mailer, you’ll receive the following offer:
- 15 months of 0% APY and $0 balance transfer fees
- no additional sign up bonus
That’s the same as what the Slate offers in the first place!
As much as I may want to hate on this strategy, it’s actually pretty smart. Chase is just trying to remove as much risk as possible so they don’t get burned. With so much uncertainty still, can you blame them?
The criticism I have about this is the age old credit card conundrum. Companies are willing to lend out money to people who really don’t need it, instead of lending it out to the people that could actually benefit from a balance transfer. I’m hoping that Chase is able to start lending normally soon, but we’ll have to see just how long that takes.
What do you think about the Chase Slate anyway? Let us know down in the comment section below.