Posts by Samuel Rogers75

So, my wife just got off the phone with someone at JPMorgan Chase, and they confirmed that when you use their installment plan for grocery runs—you know, splitting those big shop totals into monthly payments—they don't hit you with any revolving interest.
It doesn't even matter if you set it up as a fixed percentage or just stick to the standard monthly installments.

electricbadger89 said:I think JPMorgan Chase is basically the only one still hitting 9.4% on overdrafts.
Every other bank has already dropped those rates.

Overdraft interest really ought to be pegged to the revolving credit rate.

With the GO! card, you can opt to pay via a percentage or spread it over up to 36 months with interest.

On top of that, you can shop at certain places and get 12 (or even 24, if I'm lucky) interest-free installments. You can also just pay it all off at once and avoid interest entirely.

No annual fees or enrollment fees either.

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JPMorgan Chase's website mentions that at specific points of sale, you can pay things off without any interest or extra fees. So, if I buy something for, say, $333 using 4 installments and I pay that first installment right when it's due, am I still getting hit with revolving interest on the remaining $250? My card is set up at a 5% rate.

With the Federal Reserve guidelines, it’s pretty clearly laid out—even though it technically counts as revolving credit, if you pay those installments in full, they don't charge you interest on those amounts.