JPMorgan Chase Go!Card help?

To me, stretching those payments out over 36 months just feels like a guaranteed way to sink under a mountain of debt...😬

It’s essentially the same deal as facing a 12% interest rate on the whole thing 😁

Wait, when does the billing cycle actually run? I honestly thought it was just from the 1st to the 31st. But now it's telling me that stuff I bought on November 1st is already hitting my statement on the 15th...

The billing cycle wraps up ten days before the actual payment hits—so, in your case, we’re looking at the 5th of the month

Just a quick question here. I’m planning to withdraw some cash using my credit card, and I’ve set up a repayment plan over 24 monthly installments. Does JPMorgan Chase automatically deduct the monthly portion on the 15th of every month, or am I responsible for making those payments manually?
Thanks

It all depends on whether you have set up automatic debits (what we used to call standing orders).
If you have, then yes; if not, then no. I'm assuming you already have an active checking account at JPMorgan Chase so you can actually set that up.

I wouldn't touch this card with a ten-foot pole...

Interest rates sit at 12% 🕺

Unfortunately, I’ve had two bad runs with these cards..
I paid one off and tossed it 🎉
The second is next on my list to kill... just saw the statement... six months left...

If I pay the full balance right now to close it, it's one amount—but if I stick to the minimum payments for the next six months, the total jumps significantly. The gap between those two numbers is $167... 😲

It’s mathematically smarter to just settle the debt today and be done with it, rather than dragging it out and letting them bleed me for $167 😵

Avoid this at all costs.. seriously...
Oh, and when I went in to cancel the first one... the teller at JP Morgan Chase gave me this look, as if I were returning a family heirloom instead of some junk card. She actually tried to patronize me, asking why I’d want to close it and suggesting I might need it later... I just stared at her. 👎
I suspect bank employees get their bonuses based on new accounts, while closing one counts against them..
They are incredibly charming when they're aggressively pitching you on credit lines and various services, but the moment you want to walk away, the hospitality vanishes.
Pfft.
No thanks.. no more predatory cards or loans from them ever. 🙂

I’ve had mine for years now without a single issue. I don't know what that lady at JP Morgan Chase was trying to tell me about it being some specific "two-card combo"—honestly, you just have to know what you want. When I charge something, I get the statement for that period and I can either pay the whole thing off right then or split it into installments (with interest, obviously). You pick the number of payments, you choose the due date, and so on.

Bottom line: you can defer payment if you want, or just settle up all at once. Nobody is forcing anyone into high-interest installments.

Look, no one is saying credit is a good thing. It should really only be used when things get desperate, but at the end of the day, managing it comes down to personal discipline. 🙂

Matthew Morgan61 said:I’ve had mine for years now without a single issue. I don't know what that lady at JP Morgan Chase was trying to tell me about it being some specific "two-card combo"—honestly, you just have to know what you want. When I charge something, I get the statement for that period and I can either pay the whole thing off right then or split it into installments (with interest, obviously). You pick the number of payments, you choose the due date, and so on.

Bottom line: you can defer payment if you want, or just settle up all at once. Nobody is forcing anyone into high-interest installments.

Look, no one is saying credit is a good thing. It should really only be used when things get desperate, but at the end of the day, managing it comes down to personal discipline. 🙂

True, but you can technically use a standard debit card to buy things on credit too...
though with this specific card, the 12% interest rate is frankly predatory.
🕺

To be honest, some things are better bought with cash. If you save up for a few months, you can just walk in and grab a cash discount.🕺

About two months ago, a representative from JPMorgan Chase gave me a call. Apparently, as part of their hand fan promotion, I’m eligible for two more cards—one revolving and one charge card. She was being all sweet, calling me "smart" for getting my paperwork sorted to snag a Mastercard revolving card. So, I went for the 5% installment plan with a due date on the 15th of every month.
Can someone who actually uses this card help me out? Is it true that the minimum monthly payment has to be $32? Does that mean I have to withdraw $667 or spend $667 just to cover it??? 😲 Am I really expected to shell out that much cash every single month just to keep the installment at $32... 🙂 Did I fall for some kind of trick 🙂??? Also, if the payment is due on the 15th, when does the billing cycle actually run? What are the start and end dates for the calculation period???
I’d love some answers before Monday rolls around and she gets to confirm just how clueless I am 🙏🙏🙏

Monday is a holiday 😉 by the way. You don't really have a choice here—it’s pretty much a baseline requirement. You either pay one amount or the other, either 5% or $32 if that 5% ends up being less than $32. To put it simply, if you spend $33, you won't be stuck with the 5%; instead, you'll pay $1.75 rather than $32. If you spend $167, you're back to paying $32 because that 5% falls short of the 95.

Charles Ramos7 said:Monday is a holiday 😉 by the way. You don't really have a choice here—it’s pretty much a baseline requirement. You either pay one amount or the other, either 5% or $32 if that 5% ends up being less than $32. To put it simply, if you spend $33, you won't be stuck with the 5%; instead, you'll pay $1.75 rather than $32. If you spend $167, you're back to paying $32 because that 5% falls short of the 95.

Thanks, thanks, thanks... 🙏 🙂I've been biting my nails and stressing out since last night. I actually forgot it was even a holiday 🤔... If everything works exactly like you're saying—and I'm sure it does—then I think I'll hang onto this Mastercard for a little while longer. Better safe than sorry, right? 😉

I’ve fully paid off my mother's prepaid card, and the balance is back to zero.

Now, should we head down to JPMorgan Chase together... just to be absolutely certain the account is officially closed?

Is there a mandatory waiting period before she can request a new one?
Or could she potentially ask for a replacement after just two days?

Keep in mind, her overdraft on her checking account was supposed to be cleared—they ended up setting up a payment plan for it instead. That part is settled. Her checking account is currently at zero, and let's just say she's being quite diligent about it—both accounts are sitting at a clean zero.

don't sweat it—she could walk out with five different cards on that same day if she wanted to 🙂

Timothy Kim9 said:don't sweat it—she could walk out with five different cards on that same day if she wanted to 🙂

I suppose I'll have to have a word with her then...
Alright, thanks.

Hy,
I recently got a Visa card that I haven't even used yet.
My monthly limit is 10 $0.00 and I have a 36-month repayment plan set up.
I'm wondering if this card can be used to pay bills and if so, where exactly?
I tried at the local post office, but the clerk told me it only works as a debit card—meaning I'd need the cash in my account first. This involves $2000. If I actually had that kind of money, I wouldn't be using a credit card in the first place...
Or, say I just withdrew $667 from an ATM every single day until I reached the amount I needed, how would that interest be calculated?
Thanks!

rowdypilot33 said:Hy,
I recently got a Visa card that I haven't even used yet.
My monthly limit is 10 $0.00 and I have a 36-month repayment plan set up.
I'm wondering if this card can be used to pay bills and if so, where exactly?
I tried at the local post office, but the clerk told me it only works as a debit card—meaning I'd need the cash in my account first. This involves $2000. If I actually had that kind of money, I wouldn't be using a credit card in the first place...
Or, say I just withdrew $667 from an ATM every single day until I reached the amount I needed, how would that interest be calculated?
Thanks!

I haven't personally tested that specific card, but the post office has an online portal where you can pay bills using a Mastercard.

Quick question. If my payment due date is the 24th, when exactly does the billing cycle end? Also, if I pull $333 from an ATM, it splits into 12 installments. If I just drop the full $333 in all at once, do those monthly payments actually go down, or do they stay the same?

Hy everyone 🙂 I’ve got a few questions about the Visa card. I’ve been banking with JPMorgan Chase for ages—they’re solid, pay on time, good company... all that. They have this dynamic offer where they suggest two cards; I already have a standard Mastercard, so now I’m looking at getting the Visa. Here’s my situation: my average monthly pay is around $4,100, but I’m also paying $860 a month toward a personal loan. My questions are
1) do you think they'll actually approve me for the card?
2) I was thinking about withdrawing cash and then just paying the whole thing off with my next paycheck. After that, I'd want to change the terms (the installments) to maybe pull some more cash and split it into 4 payments instead. Is that even doable or nah?

Are you running a negative balance, and what’s your credit limit on your Mastercard compared to your salary? It all plays a role

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