Chase Slate vs. Citi Double Cash
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Shopping for a credit card can be an overwhelming experience. There are close to 1,000 credit cards offered in the United States. When shopping for a new card, it is important to apply for one that meets your financial objectives. Perhaps that is obtaining the lowest interest rate possible because you know you’ll be carrying some debt from one month to the next. It could be you want a rewards card where using the card actually earns you money with every transaction. It all comes down to what you want a credit card to do for you.
Two of the very best credit cards on the market are the Chase Slate card and the Citi Double Cash card. They both have some tremendous features, but they are targeted to two different types of consumers.
Let’s first review the similarities between these two cards:
* They are each issued by one of the largest banks in the United States: JP Morgan Chase and Citibank.
* They currently have identical introductory offers: 0% APR for 15 months for both purchases and balance transfers.
* They each have the same on-going interest rates. After the introductory period, the APR is 12.99% to 22.99% depending on your credit worthiness.
* Neither one of these cards has an annual fee.
* EMV chip. Both cards have an embedded chip to help strengthen the card’s security. This is also very helpful if you use a credit card for overseas transactions.
* Foreign Transaction Fee. Some cards on the market have no foreign transaction fee, but each of these cards charge a 3% fee for any purchase made outside of the United States.
But there is one extremely attractive feature on each of these cards that distinguishes them from each other, as well as practically every other card on the market.
If you are looking for a cash back card, the Citi Double Cash card is one of the most lucrative cards in the industry. The average rewards payout on a credit card is 1%. But with the Citi Double Cash card, cardholders have a chance to earn cash back twice–1% when you make a purchase and another 1% when you pay. There are no limits to the cash back you can earn, and no bonus categories to worry about.
If you are looking to transfer a balance from one card to another, the Chase Slate card is the most attractive card in the industry. In fact, the Chase Slate card was named as the best balance transfer card by Money Magazine for two consecutive years. Most cards charge a 3% fee on the amount of money you transfer, but if you do so during the first 60 days of being a Chase Slate account holder, you will not incur any balance transfer fee. This can be a significant savings.
In addition, Chase Slate cardholders can see their credit scores for free each month on their account statement. This allows them to monitor their credit and detect any problems quickly. The Slate card is the only Chase credit card that provides its customers with free access to these FICO credit scores.
These two products are both outstanding credit cards. Which one is better for you will depend entirely on what you are looking for in a credit card.
If you have credit card debt and are looking to transfer your current balance onto a new card, the Chase Slate is the best balance transfer card. The ability to transfer the balance without a 3% fee is a very attractive feature. Keep in mind the Slate card does not have any kind of a rewards program. But people who are looking to pay down their credit card debt don’t need to worry about earning rewards on their purchases; they just need to pay off that balance as fast as they can.
If you pay your credit card bill in full and on time each month, then you should get a rewards credit card and earn money from making transactions on your card. The Citi Double Cash card is a tremendously lucrative card since you can earn 2%–double the industry average-on any purchase you make.