Posts by Susan Baker6

Is that deal still live where you get $17 if you invite a buddy and they start topping up their account?

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Does anyone have a clue what’s coming next? Are they gonna swap out all our cards and change up the account numbers? I'm wondering if this is gonna be a whole mess like when we had to deal with those old banking mergers back in the day.

Aha, I had no clue about that! Thanks for filling me in.

electricbadger89 said:Exactly. A loan is a loan, regardless. You just provide them with your updated account numbers—both your checking and your escrow accounts.
You should probably double-check the Federal Reserve's procedures regarding opening an escrow account at a different bank.

I won't be able to get this swap sorted before my next paycheck hits, but I'll definitely tackle it right after.
My situation is a bit of a weird one, though. The garnishment is set at exactly one-fourth of my pay, and nothing can touch my frozen checking account (so I just manually deposit whatever I can afford each month), so I'm not really seeing why I'd even need to deal with the FDIC?

Hey everyone, I've got a few questions for you all
So, right now I’ve got my checking and savings accounts over at JPMorgan Chase, plus a loan there that’s being paid off automatically via direct deposit.
Given how things are looking lately, I’m wondering if it makes sense to open up an account at a different bank?
And would I still be able to have my loan payments handled automatically through my employer? Like, is that even doable with payroll?
This is all pretty new territory for me, so bear with me here.
Best,

electricbadger89 said:As far as I know, they’re looking at Hrok—specifically the OSR—and Dor.

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Thanks for the heads up!

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I've been banking with the same place for about a year now, and I’m super diligent about staying on top of my loans—if I’m short, I just toss in some extra cash to make sure everything is squared away. For the last three months, I’ve been sitting at an $11,000 overdraft, plus I've got a Mastercard with a $333 charge limit. I actually had a personal loan lined up once too, but I pulled the plug on it before even touching the funds. My paycheck usually hits around $4,200 after travel expenses, though lately, it’s been bumping up by maybe $400 to $233 more thanks to some bonuses I picked up. Right now, I have this Diners Club debt that got handed off to a collection agency, but I’ve been paying them back religiously according to our agreement. So, here's the real question: if I go in asking for an increase on my overdraft or my card limit, are they going to dig through my Hrok or Dor records and stuff like that? Is there a chance they'll just shut me down and deny the request?
Thanks!

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Does anyone actually know what that deactivation date on the unknown statement is supposed to mean?

Edward Evans7 said:Yes, it’s possible, though you have to go to a Chase ATM and specifically select the installment option on your Mozart card. Just a heads-up: the system claims the first payment and the fee are deducted instantly, but in reality, they usually don't hit the account for about 24 hours. That gives you a little window to move some funds around if needed. If you don't have enough in there, you'll just end up sliding straight into an overdraft, which is a headache nobody needs.

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I had no clue about that, thanks for the heads up!

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Edward Evans7 said:It isn’t really a "request" situation; the bank just decides for you. When my first paycheck hit that account, they automatically approved an overdraft limit of three times my salary. Then, once my third paycheck cleared, they unlocked a Mozart installment option equal to one full salary. It’s all automated based on your history.

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I’ve actually got the Mozart installment plan too, but I honestly thought that was strictly for when you're swiping at a store! So you're telling me you can basically split up cash withdrawals into payments too?

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Edward Evans7 said:Since I ended up answering my own question: no, it isn't possible. The ATM just shuts you down with an "insufficient funds" message.

When you navigate to the "Maestro installments - check availability" option, it shows: approved: $0.00, available $0.00.

To make matters more confusing, I checked the balance on my dad's Citibank checking account at that very same ATM, and it displays: balance: $0.00, available: $1333. There isn't even an authorized overdraft on that account, so the math just doesn't add up for me.

So, were you guys actually trying to pull out cash on the installment plan or what?

Edward Evans7 said:Aton Services

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Thanks for the heads up!

Edward Evans7 said:Look, you aren't waiting forever, though it really just depends on which branch you deal with. If you're going through a broker, you're looking at roughly a week. You get a Mastercard Walmart card right away worth 5% of the loan amount—and just to be clear, the bank covers that 5%; they don't skim it off the top. Consider it a little "thank you" gesture for moving your business to them and taking the loan. Once your first paycheck hits, you get a limit of three times your pay. After the third paycheck, you get a Mastercard Standard with a three-times salary limit, and they'll bump up the limit on your Walmart card to match that three-times salary mark as well.

Do you have any specific brokers you'd recommend? And did you just walk into a branch yourself or did you use a broker to get things moving?

Edward Evans7 said:Look, you aren't waiting forever, though it really just depends on which branch you deal with. If you're going through a broker, you're looking at roughly a week. You get a Mastercard Walmart card right away worth 5% of the loan amount—and just to be clear, the bank covers that 5%; they don't skim it off the top. Consider it a little "thank you" gesture for moving your business to them and taking the loan. Once your first paycheck hits, you get a limit of three times your pay. After the third paycheck, you get a Mastercard Standard with a three-times salary limit, and they'll bump up the limit on your Walmart card to match that three-times salary mark as well.

I actually switched everything over to them after about a year, and I ended up canceling my Walmart card entirely to just stick with the Mastercard. My starting limit is $333, and even though I haven't touched it yet, they told me I could just head down to the branch and ask for an increase whenever I wanted.

Anyone got the scoop on how loan processing is moving lately? Is the wait time dragging on forever? A close friend of mine is thinking about switching over to JPMorgan Chase to grab a loan and consolidate her other debt, so I'm trying to see if it's actually worth the hassle.

Jeremy Hall43 said:There’s no more hiding behind those display settings now that they've got their hands back on the controls—they can see everything. I guess you'll just have to wait for them to verify whether you're actually solvent before they let you close anything out.

I took out a loan way back in December 2019, so I had to deal with all that paperwork then, but honestly, I haven't heard anything new since.

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Timothy Torres5 said:Registered User

Join Date: Oct 2019.
Posts: 4
Has anyone taken out a loan recently at JPMorgan Chase or Addiko Bank? What kind of paperwork are they asking for? Do they still require three months of bank statements if you aren't already an existing customer there? I’m looking to pull about $30,000 over a 10-year term, but I already have a larger personal loan open at my local community bank. Also, does having a negative balance or being overdrawn affect the approval process? My current payment is $700, and my average monthly income is $8,300, so this new payment would be roughly $300 and some change.

So, about 12 months ago, I went through the whole process—I took out a loan, wiped out my old one, and moved everything over to JPMorgan Chase. They wanted three months of pay stubs, three months of transaction history, and a letter from my employer confirming my job status. And since I was paying off that old debt, they definitely needed proof of the payoff amount for the existing loan.

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Jeremy Hall43 said:iPhone using Tapatalk You can, sure, up to $3000 given that salary.
It probably doesn't make sense to ditch the Premium vis to get an interest-free installment option; you won't get that kind of deal with the Walmart card.

I actually swung by the bank today to talk about an overdraft request, and the teller told me I could just grab one of their Mastercard options to bump my limit up to 3 grand, so I went ahead and pulled the trigger on that right then and there.

Jeremy Hall43 said:I guess you could probably ask your personal banker about bumping up the limit? If you don't mind me asking, what's your current approved limit and what does your salary look like?

I moved all my direct deposits over to them about a year ago, and I’m pulling in roughly $4,900 a month. They set my starting limit at $333. I’ve got this credit card—basically my version of an American Express—but I don't really use it much unless I'm dropping some serious cash and want to pay it off in installments. That's why I was wondering if I could just ditch that card entirely and get a higher limit on my main one instead.

electricbadger89 said:I didn't even receive it.

Instead, they approved some revolving credit line I never even asked for; all I wanted was the cash advance.

Thanks a ton