Posts by Casey Bennett

boldtiger60 said:Hey guys,

I’ve got a bit of a brain teaser here. So, I’m currently sitting in the red on my student checking account $267 (meaning my total available spending limit is basically just $67) and I really want to grab this thing worth $233 using an installment plan. The shop accepts Salesforce card installments, so that part is easy. What’s tripping me up is something someone mentioned earlier about needing the full price of the item to be "available in your account at the moment of purchase." Does that mean I actually need to have $233 available in my checking account right now (meaning I can only be overdrawn by a max of $100), or does it mean my available funds for the *monthly payments* have to be there (which is currently $333)? 🤔 Basically, is my current balance tied to how much I can pay back in installments?

Common sense tells me that if you already need to have the full amount sitting in your account when you buy it, then what’s even the point of an installment plan? You could just buy it outright right then and there... 🤔 But I figured I'd ask since I'm hoping someone's still hanging around this thread. Thanks in advance. 😵

Someone clearly posted something idiotic; I missed the original thread, but it’s strange nobody called them out on it.
To qualify for installment plans, you just can't be overdrawn or carrying other outstanding debt—like if you haven't cleared your Amex balance, for instance.
As long as you aren't in the red $333 you should be fine to use an installment plan up to your approved credit limit.

That’s not going to fly. The total credit limit for installment plans is capped at $333, not $333 per month.

@croatplayer -
no.

Casey Moore3 said:Here is a link to the Bank of America website where they do a great job explaining how to shop safely online. It’s a shame JPMorgan Chase doesn't have anything quite this clear...

Hopefully, this helps someone out... or at least gives a better understanding of how 3-D Secure technology and mobile authentication work.

It's essentially the latest industry standard for transactions that card networks are rolling out. Visa had about 1,000 developers working on it, while Mastercard had 300!
Because 3-D Secure provides such high levels of security, transaction fees actually end up being lower when this technology is used. It is all strictly laid out in those global standards. (Just so you know, this isn't information you'll find on the Bank of America site 🙂)

It’s the card networks—specifically Visa-Mastercard—that cook up these protocols, while the banks simply implement them because they have no choice.
It doesn't work the other way around.

Just make sure you have about ten bucks sitting in there on the last day of the month to cover interest, and you’re golden. As long as you maintain your student status and keep your accounts in good standing—meaning you aren't hitting an unauthorized overdraft and you're staying on top of your other bills—you can technically carry a balance.

You just settle up whenever you actually have the cash to spare. Honestly, if you follow what I said in the first paragraph, you could practically live in the red indefinitely.

You can actually overdraw your checking account if you want to. $333So, that’s how those... $133 They can actually pull funds directly from a negative balance.

Lisa Watson6 said:So you're telling me I can sit in the red for 364 days with zero consequences, and then suddenly after a year, they hit me with a 7.98% rate?

What happens if my balance drops below -$1,000?

And am I actually allowed to pull those -$1,000 out of an ATM?

First off—yes, but keep in mind they calculate interest every single month.
As for your second point: if you slip past your overdraft limit, pay back the difference immediately. Once you cross the $333 threshold, they stop charging standard overdraft interest and start hitting you with those predatory legal rates for unauthorized overdrafts; I believe those run around 14% annually.
Third question: yes, you can.

silverpuma82 said:Hey there!

Can I actually go into the negative if I use this card to send someone money $333 via PayPal?

I mean, it’s not even a purchase, just a transfer...

If PayPal even allows transfers like that (and if I recall correctly, we aren't able to send money out from the US unless regulations changed recently)—then yeah, you can.

Zachary Reed66 said:I used to have an American Express student card, but they closed my account because I missed a single payment deadline. It’s been about a year since that happened, so I was wondering—is there any actual chance of getting the card reactivated?
I'm still using my student checking account over at JPMorgan Chase.

Maybe.
Or maybe not.
Who on earth knows.
What do you think—who actually holds the answer to that question?

Exactly, it gets pulled from your current balance in equal installments based on how many months you chose for the purchase. That first payment kicks in one month after you buy the goods.

You're required to enter a one-time passcode using the authorization device provided with your JPMorgan Chase online banking credentials.

Andrew Wells2 said:Quick question or two! 😬

1. What am I supposed to put in the "call number" field on my banking app? Up until now, I’ve just been typing in the date, but it keeps telling me I’m doing it wrong...

2. Is there a reason why I can't see my actual transaction history on my phone? All I can see is the total balance and some other random details that aren't really helpful... 😢
I can't tell if this is some new update or if it's just my new phone acting up, though I really don't think it should be the phone's fault, right?

You need to copy it directly from the invoice.
The date is exclusively for when you're sending money to an individual; for everything else, you absolutely must include the correct model and reference number, otherwise, you're just asking for a massive headache because the payment won't be credited to the right account.

Terry Perez8 said:Hi there,

I was wondering if it's possible to go into a negative balance with an American Express card. For instance, if I buy something for $500, but my checking account doesn't actually have enough funds to cover it at that moment?
Does American Express allow you to run a deficit like that, where they essentially cover the cost and then just deduct the payments from my account on a monthly basis?

You don't "go into the red" with an American Express because it isn't a debit card; it's a credit card with a set spending limit $667. If you buy something for $500, you should ask for a payment plan right at the register. That way, American Express just pulls that monthly installment from your checking account. You'll get a monthly statement in the mail telling you exactly how much needs to be in your account and by which date.

In other words, you don't need to have a single cent in your checking account when you make the purchase, but you better damn well have the money ready when the American Express bill comes due.

For more info on student options, check here

Gerald Hill7 said:From what I gather, you really need to have enough liquidity sitting in your checking account whenever you run a charge on your American Express. Basically, you’re looking at $333 being in the red plus $167 available in your balance (assuming you're picking up something in the neighborhood of $500). Then, once a month rolls around, they just pull the installment payment directly from your checking account.

No, you aren't. 😁

You can. The foreign currency account has absolutely nothing to do with the student package, nor does it affect it in any way whatsoever.
But yeah, you’re paying for it separately. There is a monthly fee involved—just go look up the specific fees on the Chase website.

@steelheron53 - not while you're sitting there deep in the red

Jerry Clark said:Are you 100% sure about that? I keep seeing people on forums saying PayPal won't touch a standard checking account—only specific ones. Of course, when you ask at Chase, they just shrug their shoulders and give you some "it should work" nonsense. I'm not about to go through the hassle of opening an account if it's just gonna be a gamble...

I am certain. I generally don't make claims about things I don't actually understand.

If you’ve upgraded to the new Inspire card, you should be good to go. The old Maestro ones won't work anymore, though you can swap them out for a Visa at no extra cost.

cosmicskipper39 said:Shame on you. Because I actually do it.
I’ll send a DM saying something like, 'Hey, XL! I really dig your posts. What do you think about what I’ve been writing?'
Then I just sit there and wait for a reply. So what? Where’s the problem and why is it "moronic"? 🤷

Exactly—if we had a like button, I would have hit it already. Instead, I’m forced to compose an entire opinion, craft a comment, and actually exert some brainpower just to react. This isn't some playground for kids who need their parents to set up their accounts; this isn't 🙂
equality for everyone! 🙂

Sam Alvarez4 said:What purpose would that even serve on a forum where people just use clone accounts while the admins look the other way? (I mean, as long as you don't have two clones of a banned user in the same thread, everything is technically "by the book," right?)
None at all...

From what I understand, using multiple accounts within a single thread is strictly against the rules, regardless of whether those accounts have been banned or not. If the moderators are choosing to turn a blind eye to this, then they simply aren't doing their jobs properly.

placidorca16 said:Right, precisely because it's a public forum. If there were actual "arguments" being made, you could respond with logic—but this isn't that; it's just misogynistic generalizations and insults... Still, nobody's stopping you from feeling as "polite" and "cultured" as those women in the posts claim to be, even if you can't see past your own nose.

Maybe the reason I don't feel insulted by certain descriptions is simply because they don't apply to me? 🤷
Did that possibility ever cross your mind? 😉

When someone (regardless of whether they are male or female) points out that there are plenty of women who are just plain boring, spending their entire lives glued to soap operas and gossiping, believe me, I won't feel the slightest urge to scream, "How dare you, you misogynist!" because, frankly, it’s the damn truth.

I have no interest in defending or representing anyone just because we share the same chromosomes, and I certainly don't want anyone speaking on behalf of women without my express permission.

Real struggle should be reserved for the disenfranchised, the oppressed, the hungry, and the helpless—regardless of whether we are talking about a child, a woman, a man, or an animal.

To summarize: feminism is, in my opinion, far too narrowly specialized, overly aggressive, and completely devoid of any sense of humor. I won't go so far as to call it fanaticism, but if anyone finds themselves offended by this, I wash my hands of their feelings.