I currently use a CHI flat iron and I love it! The thing is that after a lot of straightening my hair is getting pretty damaged. My hair color is lightening in a bad way and my ends are getting pretty fried, and I can't forget the split ends. I really love this tool, it's the only thing that actually makes my hair straight. Do their heat protectants or shampoos work too? I really need something to protect my hair before more damage is done. Also it doesn't have to be CHI, just something that works and does not leave hair greasy.
a different product you could try is called morrocanoil. its AMAZING and makes your hair silky and shiny after just using it once! its a bit on the expensive side but definitly worth it, and it lasts a long time. the word oil in it may throw you off, and I have very fine hair so I was nervous it would look greasy. it doesn't weigh my hair down at all or make it look greasy, plus it leaves a really warm tropical scent in your hair! I have tried the whole line of their products but the best is the original oil, the styling cream and shampoo and conditioner are great as well though. you say your colour is fading, try their shampoo and conditioner. the are sulfate-free, which is the stuff that makes shampoo bubble and lather, but also dries out your hair and strips the good stuff out of it like crazy. this shampoo doesn't lather but leaves it healthy and soft. good luck! :)
CHI is a great company and they put out an amazing line for heat styling. It doesn't matter what you use on your hair, if your ends are fried or dry, they need to be cut. The more often you get a trim (I'm talking tiny, like a centimetre) the healthier your hair will remain and grow. The CHI straightening guard is great, but also try to take a break from straightening it every day. Have you ever blow-dryed your hair before? It's still damaging, but the heat is no where near as hot as a direct iron. If you're not sure how to blow-dry, there are tons of videos on youtube to help with how to hold your brush and do it yourself. If you have curly hair, consider infusing it with a dryer. Just be careful! (Also, try to use a colour protective shampoo like Paul Mitchell's or AG)