Compare it to the Discover it® Secured Credit Card
The Chase Slate Edge℠ is not designed for applicants who are new to credit or who have bad credit. If either of those applies to you, a better card is the Discover it® Secured Credit Card.
The Discover it® Secured Credit Card requires that you submit a security deposit in the amount of your desired credit limit to the issuer. The deposit protects the issuer if you default on what you owe. With the Discover it® Secured Credit Card, the deposit can range from $200 to $2,500.
You can get your deposit back if you pay off the card in full and close the account or if Discover decides you qualify to be transitioned to an unsecured card that doesn’t require a security deposit. After you have the card for 7 months, Discover will begin automatic monthly reviews of your account to see if you qualify for such a transition.
The Discover it® Secured Credit Card also has a rewards program where you can earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically. It’s rare for cards aimed at applicants with poor/limited credit to offer rewards, so this program makes the Discover it® Secured Credit Card stand out from the competition.
And there’s a unique sign-up bonus for new cardmembers: Discover will match all the cash back you’ve earned at the end of your first year.
The Discover it® Secured Credit Card‘s annual fee is $0.