Chase Student Starter Pack
in Banking, Insurance & Loans ·
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. 😵
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. 😵