Chase launched Slate with Blueprint, a new credit card that provides carriers with some flexibility on how balances are repaid.
Blueprint consists of four distinct features:
- Full PaySM - Enables customers to decide which expenses they want to pay in full every month - items like groceries, gasoline, prescriptions - set those purchases aside and avoid paying interest by paying them in full each month.
- SplitSM - Provides customers a way to better manage larger purchases like home improvement projects or a new appliance. They can select the number of payments or monthly payment amount that works for them. Chase does the math and makes it clear on each statement so they can stay on track to meet their goals.
- Finish ItSM - Gives customers the flexibility to create a plan to pay down their current balance faster, allowing them to choose a goal date for pay-off. Chase does the math, calculating the monthly payments, sets up the plan and charts customers' progress toward achieving their goal on each monthly statement and online.
- Track ItSM - Provides customers a snapshot of all of their Chase card purchases. Customers can track their spending online by category whenever they want, not once a year like some card companies offer. Spending snapshots are available online daily allowing customers to track their progress toward achieving goals in real time.
Gordon Smith, the CEO of Chase Credit Cards had this to say: "Consumers want more control, simplicity and predictability when it comes to their finances. With Blueprint, customers can design their own plan to pay off balances sooner, save money by avoiding interest charges, and then easily track progress toward achieving their financial goals."
The card itself seems to work by integrating a credit card with balance and credit management tools. The biggest difference seems to be that consumers now have some flexiblity in choosing and managing their monthly payments. Chase figures that if someone decides on a longer repayment period, that just increases the interest they'll earn on the loan. If they choose a shorter period, that's fine with them also.
The card is launching with a 0%, 12-month APR intro fee. This intro rate is only available to consumers who have excellent credit. Most of the 20 million consumers who Chase feel are eligible to receive the card will most likely receive a higher intro rate.
If you use the card or have any insight on it, please share it below.
Comments
tntexans72
September 22, 2009
I will be getting this card in the mail in the next 4-7 business days, will keep everybody posted.
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michael374
October 06, 2009
Does anyone know if this will be accepted the same as the previous visa cardthat it replaces? The last thing I need is a credit card that no one accepts.
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Dixie Dawg
October 14, 2009
From what I have read on the Chase website, it has global acceptance and will be accepted everywhere that VISA is accepted.
For anyone who travels a lot or who places their gas, groceries and everyday expenses on a card to keep from carrying a lot of cash, this seems to be the way to go. At least you can formulate a plan to keep from paying interest on groceries or gasoline if your card is not paid off every month.
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me me ohio
October 18, 2009
My account was automatically changed to this Slate account from a Premiere account. It seems to me like a ploy to change my terms and up my intrest rate per their stated "response to market conditions, new federal laws and regulations and our increasing costs".
I'll be REJECTING this kind offer.
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Rob
October 20, 2009
HSBC did the same thing to me.Nice just one more way to keep the middle class down
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Larry
October 23, 2009
Chase is sending me one with supposedly 0% for first 12 billing cycles. My email today said that my card was on it's way.
Does anyone know if this is a VISA or MASTERCARD?
Will it be accepted everywhere?
I am getting it to do a balance transfer from CITIBANK that jacked my interest rate to 29.99% for NO reason.
Had the card for years, never late, always paid and this was the kind of treatment received.
Anyway, will give CHASE a chance.
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Dan
October 27, 2009
I just received my Chase statement and saw that I had also been switched to Slate. It doesn't really matter to me. I had already receiveda notice that they were going to up the rate on my card to 18.24%. The statement also says I have an effective annual percentage rate of 68.18%. No thanks. I paid off the balance but will leave $.50 on there so that they have to continue to send me statements. So I go from a profitable, on-time paying customer, to an unprofitable one.
They also sent me a balance transfer offer of .99% for the 1st check through July 1, 2010 and 1.99% APR on the second check through April 2011. These aren't bad teaser rates but I'll be skipping them.
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tomhawk
October 29, 2009
i really like this thread. already providing a large spectrum of info. anyone have any ideas on how to bring these credit card companies into small claims court for breach of contract, as well as all of the insulting, despicable, violations of persons sure to set a tone in any appropriately staffed courtroom? I've got the time to go after the money they stole, are stealing, except that which people willingly give them. if you maintain a balance on any credit card, you are paying to have these outrageous schemes devised, and used, against you. and that must stop. you are allowed to tell these people no. just say no.
and if life just aint possible to live, on the middle class salary you fantasize yourself as having, you, and most of your families, just saw your (sic) savings stolen right in front of your eyes, by the same bedfellows as these "promotional offer" 'circus is back in town' pit the haves against the have not's, thieves.
if you pay for all of your purchases with credit cards, and pay the balances off monthly, you are the special someone slate, blueprint, chase, citi, LOVE. and you don't forget it.
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Regis
October 31, 2009
@tomhawk - your comment was totally nonsensical. people choose to open and use a credit card. some of the more deceptive practices should be changed but people have only themselves to blame for credit card debt.
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chinky
November 05, 2009
My chase account changed to slate recently and my APR rate went down to 4.99 from 7.99 it basically went back to the original apr for the life of the loan promotion b/4 chase switch on us in the spring. What a surprise.
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