Posts by Walter Davis13

coastalwalker74 said:Hey everyone, quick question for the group. I’m currently on one of those older, basic account setups with just a standard Visa Mastercard. My current plan doesn't specifically include an option for installment payments, but I was wondering—if I'm at a shop that explicitly advertises "buy now, pay later" or installment plans via Mastercard, can I actually use my card for that even without a special banking package? Like, if the store itself offers the option for Chase cards, does it work regardless of my specific bank tier? Has anyone actually pulled this off before? Or am I stuck having to call my bank and upgrade my whole service package just to get that feature? 🙂Thanks a bunch!

It doesn't matter what kind of Visa Mastercard you have; the only thing that matters is whether you have that installment option tied to a Maestro card...

gentlecanyon12 said:Hey there! I have a quick question... I'm finishing up my senior year of high school and I'm planning to attend the Wharton School. As most of you know, it's a private institution, and the tuition is about $4,600 a year. Unfortunately, my parents can't cover this right now because they just took out a $110,000 mortgage a few months ago with a 12-year repayment term. I've been looking into student loans that don't require repayment until after graduation, and I noticed that Chase Bank has some really great options. My main question is: is it possible for me to get this loan if the bank agrees to be the co-signer? My parents won't be able to act as co-signers since they're already heavily leveraged with their own debt. On a side note, I've been an honors student throughout high school and have taken first place in several county-wide academic competitions. Does that kind of track record influence a bank's decision? Personally, I feel like I'm a much safer bet for future repayment than a student who hasn't shown that level of consistent success.

Thanks in advance.

I’d suggest heading down to JPMorgan Chase to talk to someone in person; there might be an option for that...

Douglas Hall34 said:I have a quick question. I’m looking into getting that Go card, and I was browsing the JPMorgan Chase website. It says, "fill out the application and drop it off at a JPMorgan Chase branch," but it doesn't actually list what extra paperwork I need to bring along with the application—unlike their other products where they lay everything out clearly. Does anyone know what you guys had to hand over when you submitted yours? I’m just trying to guess what the requirements might be so I'm prepared.
P.S. I run my own small business.

Thanks!

Since you're running a business, the paperwork is always going to be a bit more of a headache... I'd suggest just shooting an email over to contact@jpmorganchase.com and they'll send you a precise list of everything needed... usually takes about 7 days to hear back...

is asking:
How can I set this up myself so it goes into 12 installments instead of 36?🤷

I asked at JP Morgan Chase about the monthly fees regarding the variable interest rates, and they told me it would be free forever, but then when my card arrived, the paperwork said the fee applies for the first year... now I'm just sitting here unsure...🤷

One more thing. If I, say, withdraw $333 from an ATM, can I pay it all back in one lump sum before the due date to dodge the interest? Or are they going to charge me interest as if it were spread over 36 months regardless?
Thanks for the help👍

For installment purchases—basically interest-free buys over 12 months—a separate sub-account is opened within the card system, and every month that sub-account just pulls the installment amount from your main card balance twelve times...
If you're shopping at a merchant that doesn't offer that specific payment plan, you can just manually pay a larger amount than the minimum each month, which effectively creates your own 12-month schedule...

2. You can pay off the expense before the billing cycle or the official due date. Interest is calculated from the moment the charge hits, though you'll still be on the hook for whatever cash advance fees apply. That interest only applies to the period you're actually using the revolving credit, not the full 36-month window...

hiddenharbor552 said:So what’s the deal with that? If my bill is due on the 18th, but I pay off everything I spent by the 8th, does that mean it won't get dragged into those 36 monthly payments and I'll dodge the interest entirely? Like, I wouldn't even be using the revolving part?

Help me out people... I am totally lost when it comes to credit cards🤷
Man, I have so many questions... please, if anyone could walk me through this, I'd really appreciate it.
They just approved me for a $0.00 limit on this GO card, with 36-month installments...

1.So this is a revolving credit card, right? Everything I buy gets split into 36 installments, and so every month I just see 1/36th of that hitting my account for payment (I told them I wanted the due date to be the 18th)... am I getting that right or wrong?
2.Does whatever amount I spend automatically get split into 36 months... even if it's just $33? Or is there some kind of minimum I have to spend?
3.The interest rate is 12%, and they charge it every three months. So, if I spent $33, the interest is 12%—which is actually $4.00 annually—so every three months I'll be charged $1.00? Is that how it works?
4.Is it the same whether I'm buying stuff at a store or if I'm just withdrawing cash from an ATM ? Except for the ATM, I'll also get hit with a withdrawal fee, right? How much is that usually? Does the fee depend on how much I take out, or is it a flat rate per transaction? And does that withdrawal amount also get split into 36 installments plus interest?
5.Can I choose to pay for something in fewer than 36 months? Like, say 12 months, even though my agreement says 36?🤷 Do I need to tell the cashier at the register when I'm paying? Or how does that work?
6.What does it actually mean when a store offers "12 months interest-free" with the GO card? My understanding is that the retailer is essentially financing it—meaning the whole amount doesn't hit my card all at once, but instead, 1/12th of the price hits my balance each month for 12 months, and then *that* specific monthly amount gets split into 36 installments?
So, if I buy something for $4000, my card gets charged $333 every month, but because it's being spread over 36 months, my total monthly payments just keep climbing as more thousand-dollar purchases hit the bill?
Does any of that make sense?
7.I have a dynamic rewards program so I don't pay a monthly membership fee. Does that mean the card costs me $0.00 if I don't even use it?

*One more thing unrelated to the GO card. Can I use my regular debit card from JPMorgan Chase to do a delayed payment, where the entire amount I spent just gets billed to my checking account next month? Is that something I have to activate, or do I just tell the cashier at the store when I'm checking out?

Spot on.
There isn't even a minimum...
In theory, sure, that’s how the math works... but if you actually factor in the principal paid down over the quarter or the year, you realize it's never really going to be three bucks; people just dream about those numbers based on whatever's left of the remaining balance...
It’s the same deal with installment plans, sure... just with a minimum fee of 3.5% tacked on top. $6.75 I mean, the fact that they want the full settlement amount upfront instead of letting you pay it off in installments... it just doesn't sit right with me...
You can just make that up yourself; there’s absolutely no need to say a single word while you're standing there in the store...
The full amount you spend hits your credit limit immediately, though the repayment part stays interest-free...
If you’re looking at a dynamic credit limit setup, you get one revolving card and one charge card completely free...

Austin Morgan58 said:California - absolutely.
My top pick would be the Zgrablić Agritourism farm near Hill...

If you don't have the time to make it out to "Kezele" just past Suburban City, though; it's a classic wooden farmhouse, little horses, their own vineyard, everything is just so incredibly homemade...
Or perhaps near Suburban City over at Ključić hill; they've got a huge playground for kids, tons of greenery with both domestic and wild animals, and those classic Midwest specialties...
The Sinful Gorica spot by the Large Market (right across from Trakošćan) has such a lovely atmosphere... the turkey with traditional noodles and homemade chicken soup are fantastic, and honestly, the best strudel I've ever had...
Then there's the Međimurje Courtyard near Des Moines; they serve these little cornmeal pastries, dried beef tongue, plenty of game dishes...

It's all just delicious... 👍 👍 👍
Just look them up online, they all have their own websites...

Sinful Gorica is actually in Small Town, USA... it's nowhere near the Large Market, let alone Trakošćan...
As for Ključić hill, it's a total skip... my recommendation is Canada—Deer-like Ridge and that whole area around Atomic Springs...