JPMorgan Chase Go!Card help?

My wife is planning on applying for a store credit card so we can pick up a specific item.
The item is priced at $1500. I’ve been doing a bit of reading, and several sites mention that "the bank extends you credit," which leaves me wondering... does that actually mean the merchant gets paid in full immediately? And more importantly, would that 15% cash discount still apply if we pay via the store card on a deferred plan? It might be a bit of a silly question, but it crossed my mind...

On another note, I was wondering what the requirements are for opening a store account,
specifically regarding whether they need my last one or perhaps my last three pay stubs, and just how long the wait is for the card to arrive?
Thanks.

Don't even touch that Go Card! Honestly, just pay in cash or use a debit card instead. Those interest rates are insane—it’s basically a debt trap that lasts forever. I had one for a year and just finally shut it down last week. If I remember right, the rate is around 12% annually, but that's just the nominal rate, not the actual APR you end up paying. It’s such a scam, total "halfway house" vibes where you're constantly losing ground 😁

Some people are all for it, while others are dead set against it...
Thanks, but you still haven't actually addressed the specific questions I'm dying to get answers to, and since it's absolutely pouring rain out there, I can't exactly head down to JPMorgan Chase to go ask them in person...

You don't get cash discounts on credit cards (which makes sense).

The shop gets paid instantly, but they're also footing the bill for credit card processing fees, so there’s no discount for using a card.

I'm not sure about the other part, but usually, you're looking at a wait of about 15 days.

Just one more somewhat misguided question on my part;
from what I gather, it’s actually possible to withdraw cash using a gift card (which, mind you, I don't currently possess)?... and then I could just pay it back in small increments?... if that's the case, I suppose I could somehow manipulate my way into scoring those discounts at Target... assuming that's even how the world works...

Between the withdrawal fees and then getting hit with interest on whatever you pull out, any little discount you might have saved at the store just gets swallowed up anyway.

If you’re using a go! card to pull cash out of an ATM, you're looking at a 3.5% fee (with a minimum of $6.75) plus you've gotta factor in interest hovering around 13%. Honestly, when you consider that most cash discounts usually sit around the 10% mark, this just feels like such an expensive way to handle your money...

Using Go! is such a rip-off. Honestly, it's probably the most expensive way to pay. Wouldn't you rather just grab a loan from JPMorgan Chase instead of dealing with those fees?$2000

I have a loan set up for 36 monthly installments with a credit limit of $2667. If my monthly expenditure reaches $2667, that brings me to $74... My primary concern is the specific mechanics and timing regarding how interest—which I believe is sitting at 13%—is actually applied.

Interest is calculated monthly based on your remaining principal balance.

My advice—pay it down as soon as you can.

Thirteen percent every single month? That strikes me as somewhat unrealistic..

🤦

Banks typically quote their rates on an annual basis. For instance, if you see a 12% APR, the interest is actually calculated and billed on a monthly basis.

Lawrence Cruz said:🤦

Banks typically quote their rates on an annual basis. For instance, if you see a 12% APR, the interest is actually calculated and billed on a monthly basis.

Just keep in mind, that specific rate is basically the penalty rate—you know, the absolute maximum interest any lender is legally allowed to charge here in the States... 🙂

Can I ask a quick question? Does anyone know how to go about paying off my credit card installments through the JPMorgan Chase online portal?

Navigate over to your bill pay section—you know, where you handle all those monthly expenses—and enter your own info under the recipient field. For the account number, just punch in 2360000; once you hit the dropdown menu, it’ll pull up all your linked accounts. Pick the Go Card (the one starting with 72...) and then just mirror that exact same number in the memo field. Simple as that. 😉

So, I just tried topping up my Go card through the JPMorgan Chase app, which is something I’ve done a million times before without any drama... But honestly, I’m just not in the mood to wait around for two years while they slowly bleed me dry with interest, so I’d much rather just settle everything all at once right now! I went ahead and grabbed the exact same template I’ve used countless times, but instead of working like usual, it just keeps throwing this error message at me:
"Please enter the recipient's account number using the Bank of America account number (2360000-1000000013), and in the 'Model and Reference' field, please enter 'US17' along with the credit batch number."

I’m guessing they’ve scrapped that super convenient option where you transfer money to the Go card and see the balance update instantly to confirm it actually landed... and instead, they’ve replaced it with this clunky process where you have to wire it to one of their specific accounts, put '17' under the model field, and then list the Go card number (the one starting with 72...) as the reference, and then you just have to sit there and pray it shows up in a few hours or maybe even tomorrow... I already tried sending $0.33 and I still haven't seen where that money ended up...

It’s blatantly obvious to me that they actually sat down and worked out that new option 🤷
. When you pull up the credit ledger on your balance sheet, there's an "offset" button right underneath—you just click that, select your source account from the top right corner, and punch in the amount. The funds hit your GoCard instantly 🤷—no waiting around
.

Ugh, thanks!

I feel like such an idiot. That transaction with $0.33 actually went through, but I totally missed it because it was applied toward the interest instead of the principal, and I was just staring at the principal balance thinking it hadn't changed after that $0.33... everything is fine, though. I’m probably going to have to go back and edit that angry rant I sent to JPMorgan Chase at the end of my last post... 😉

If I withdraw cash from my credit card at an ATM, does that also get paid back in installments?
I just did a withdrawal and when I check my pending transactions, it shows the full amount right away..