Look, just head down to your local JP Morgan Chase branch, grab your checkbook, and get ready to sign some paperwork. If you’ve been playing by the rules and 😍 if there's enough wiggle room in your account, they might actually let you bump up your overdraft limit.
brightbear8 said:Does anyone know if you can actually get an increase on your overdraft just by asking nicely? I lost my wallet—all my cash went with it—and rather than going around begging friends for loans, I figured it would be easier to just lean on my bank. Is that even a thing you can do?
Do you have your direct deposit set up with them, or what...
quietseal11 said:Honestly, if you’re asking questions this vague, maybe credit cards just aren't your thing. 1) If you don't actually know which card you were issued, how on earth is anyone on this forum supposed to tell you? If you can't be bothered to read the contract or the application you signed to see what you're holding, just head down to your local Chase branch and ask them directly.
2) You don't "deposit" money onto a credit card. You have a credit limit. If it’s a standard card, you have to pay the full balance within about 30 days. If it’s a revolving line of credit, you can pay it off in installments over up to two years—usually starting at 5% monthly—but the interest rates will absolutely kill you. That said, you can treat a revolving card like a standard one by just paying the whole damn thing off when the bill arrives to avoid those fees.
3) Sure, you could blow through your entire limit without paying a dime back, and you won't face any immediate consequences. Because obviously, big banks like Wells Fargo are famous charities that let everyone max out their cards on day one without ever asking for the money back.
4) There isn't any $1333 on there; it's just your credit limit. And I don't think you need to lose sleep over getting scammed while shopping online.
You’re more likely to get yourself into trouble just by using the card itself, considering you clearly have no clue how any of this works.
I really don't get it. If you felt the need to get a card in the first place, why didn't you just go to the bank and have them walk you through the details instead of dumping these questions on a forum?
Look, I agree that you should have asked a lot more questions at the bank, but these comments of yours are seriously out of line...
The whole point of a forum is for people to ask questions, debate things, and try to iron out their uncertainties
quietseal11 said:I think those six free online transactions apply specifically to paying bills through the JPMorgan Chase portal if you’re on one of their specific service packages.
As for using a Bill Gates card for online shopping, there aren't any transaction fees or interest charges involved. Foreign transactions hit your USD account, while domestic ones come out of your local checking. If you don't have enough funds in one, the bank just automatically pulls from the other.
Don't take this the wrong way, but it blows my mind that people walk around using credit cards without even knowing the basic terms—like which account is actually being charged.
Look, unfortunately, she’s spot on...
And I’d really appreciate it if we could stay on track here. We are discussing Go! revolving credit lines, not some standard IMF setup.🙂
Look, interest rates aren't just some static number you can set and forget. It all hinges on how many days are actually in the month... so if you're asking me what kind of interest you'll see once a monthly CD matures, the honest answer is that it fluctuates from one month to the next depending on that calendar cycle.
Look, I’m no financial advisor, so don't take my word as gospel, but let's be real: Chase isn't going to step up and co-sign for you just because you asked nicely... If you want a co-signer, you're going to have to go out and find one yourself. @Kimberly Nguyen 🤔 @lucas 🤔
Look, the name itself tells you everything you need to know—both the first and second pillars are mandatory... there is absolutely no way an employer can just choose to pay into the first one while skipping out on the second.
Principal x Interest Rate (obviously expressed as a %) = your annual return => then you just divide that by 365 and multiply it by the actual number of days that principal sat in the bank account.
Look, since we’re talking about an a vista account, the interest calculation is strictly proportional based on the balance and the number of days...
So, let's say you had a steady balance for 11 months (which is roughly 334 days)—and I mean absolutely zero fluctuations, not even for one single day—of, say, $3.25. Then, in the 12th month (let's take December 1st as an example), you dropped in a payment of $0.67 => your total interest should come out to approximately => - For those initial 334 days with a balance of $3.25 => $137 - Plus the 31 days with a balance of $4.00 => $15 Which means your grand total would be => $153
Here is a little cautionary tale regarding installment plans...
So, my godmother was over at this high-end beauty salon, and they were running some special promotion involving massages and—I don't even know, some kind of spa package😁... she absolutely loves that stuff, but since the total price tag was a bit steep, she hesitated for a second. Then, she jumped at the idea of paying in installments. The lady running the salon tells her, "Oh, just use your Mayo Clinic credit card, and you can just split it into monthly payments." So, fine... she swipes the card, gets her receipt, and then—because she’s a bit of a perfectionist—she starts scanning the slip looking for where it lists the number of installments. Of course, there was nothing written there! But the salon owner insisted that she just needs to call her bank and they'll set everything up exactly how she wants it.
Yeah, right... as if. Listen, you don't negotiate an installment plan with your bank. You coordinate that through the merchant (provided they actually have a setup with the bank, which should be clearly stated at the point of sale, and the number of installments should be explicitly printed on the receipt you get after swiping) . So, all those little excuses like, "The bank is being rude by charging interest on installments," are simply flat-out wrong.
But, look, here is how it ended for my godmother: she ended up just paying the whole thing upfront in one go. However, she did walk away with a free hair removal session and a pedicure (🤔) as compensation for the sheer mental anguish she went through.😁
silentowl7 said:Look, Arthur Ramirez12, if you're so smart, why don't you explain how Chase Bank decides your overdraft limit... I have an account at Chase, and my overdraft limit goes up every six months—roughly $333—since my salary keeps climbing. I pull in about $2667 a month. I'm on a flexible plan with a limit of $13. The bank sets the limit themselves based on my last three months of income plus some percentage. I don't know their exact math, but there's zero chance I can just walk into Zions Bancorporation tomorrow, claim I'm on a flexible plan, and demand a $13 limit.
My point stands—overdraft limits are tied to income. It usually caps out at three times what I make, which would be $8.00 for me, so there's no way I could get $13.
So yeah, I still think you're full of it this time... 😁
And I’m sitting here just waiting for her lovely, enlightened response...😉
Look, if you're saying the interest rates on revolving credit are sky-high, then yeah, you're absolutely right... BUT your math on how that interest actually works is completely off base