Chase Student Starter Pack

The interest rate on overdrafts for the student account package is 8.98% annually. So, if you were maxed out at $333 for an entire year, you'd end up paying $30 in total interest.

darkmaker94 said:The interest rate on overdrafts for the student account package is 8.98% annually. So, if you were maxed out at $333 for an entire year, you'd end up paying $30 in total interest.

Yeah, that's precisely what I was looking for. Thanks 😁

Can I close my account if I have a negative balance? I assume that’s a no. I don't think they're even charging me those $2.25 monthly maintenance fees—there might be some specific arrangement in place—but I wasn't looking to literally shut it down. Is there an option to just put it into dormancy or something similar?

@lukinjo - There isn't a monthly fee for checking when you're on the student plan. I believe the entire package is just $1.75. Plus, if you just have a standalone student checking account without any extra bundle, you aren't paying a dime

They're taking my $2.25. I suppose I'll have to give them a call and find out what's actually going on. Thanks.

@ duba - you're wrong.
Every standard checking account carries a $2.25 monthly maintenance fee. Retirees get it for $1.25, and students pay $1.75 as long as they have the full bundle (checking, credit card, online banking). If any of those pieces are missing, the system automatically bumps the fee to $2.25.

So $2.25? Because I was browsing online and it says there aren't any fees for student accounts (not even the package itself)...

I’ve got a student account and they hit me with $2.25 every single month. When I actually asked why, they basically told me it's because I don't have all the premium perks, like an Amex card.

@boky - Tell them you aren't interested in the bundle, just the checking account. Bring in some official verification from your registrar to prove you're a student so they can apply that student status. And honestly, don't go telling people to lie before you actually jump in and look at the actual paperwork—especially regarding the fees

Look, I'm not saying you're lying, just sharing my own experience here. I actually walked into my local Chase branch to ask about this myself, and I got the exact answer I wrote down. I have a student checking account with a $333 overdraft limit, and they've been steadily pulling $2.25 from me every single month (even after the innovation discount).

Let me clear this up once and for all because there’s a massive difference between a student account and a student banking package. A student package carries a monthly fee of $1.75 and bundles together a checking account, an overdraft facility, a student Amex, online banking, Bank of America mobile app access, and so on...
A basic student account is a completely different beast. It isn't some bundled deal; it’s just a straightforward checking account that comes with zero monthly maintenance fees, though you won't find any of those extra premium services that usually carry a recurring charge.

Boki, if that year in your username is accurate, you aren't even eligible for the student package since that's strictly reserved for students up to age 27, whereas I'm pretty sure the basic student account doesn't have an age cap.

If that’s the case, then why am I still getting hit with a fee from $2.25?

I can't find anything online about being allowed to overdraft on a student account if you aren't on a specific package. Does that mean you don't actually have a student account?

rapidskipper12 said:If that’s the case, then why am I still getting hit with a fee from $2.25?

Because it’s pretty clear you don't have either one, so were you ever even a student cardholder with American Express?

Greetings,
I have a question, and if anyone might be able to lend me some guidance, please just type 😁.
I’ve been reading through the threads here and seeing that some of you—those who have actually finished your degrees—are still riding that same student banking package without anyone ever questioning it.
Well, that brings me to my own situation—I’m currently using the same package and I rely heavily on my Amex and all the other perks bundled in there. Here is the dilemma: I’ve decided to step away from my full-time university program to transition into a part-time program starting this fall. Now, I’m feeling a bit anxious... I’m worried that if I approach JPMorgan Chase to request they simply move my checking account and Amex over to a part-time status, they might decide to shut the whole thing down since the package is technically intended for full-time students.

Does anyone have any advice? Or perhaps even some insight into whether they would actually pull the rug out from under me?
By the way, my account dashboard shows that both my package and my Amex are valid until 2015.
Thank you!

I can't even begin to process what you just said. Is this some kind of joke? kaže:
Clearly you don't have either one. Did you ever even bother using an American Express student card?

Nah, I applied for that American Express card ages ago, but they shot me down because I'm on some kind of blacklist. On the bright side, my overdraft was approved by Chase without any issues. $333 What kind of day am I having? Everyone knows that if you aren't bringing in any income, you don't have a basis for an overdraft, which means the limit gets cut. If I’m sitting here with zero income and zero limit, then why on earth am I staring at a negative balance? $333? 🤷

@ velvetangler - just stay quiet while nobody's asking you anything 🙂
The package remains valid until you turn 28 or finish your degree, but if they don't demand proof of full-time enrollment, don't go making a scene by announcing you're part-time. Your American Express is good through the end of 2015, and they'll automatically mail a new card before the current one expires.

@rapidskipper12 - look, just call the toll-free number and file a formal complaint so we can actually get some clarity. All we're doing here is guessing.

Duba 😉 Alright! Thanks so much for the help.
For instance—my sister is actually finishing up her final year of teaching school right now—she went through this entire process during her freshman year, and honestly, since then, nobody has ever asked her for another single verification! So, I’m really crossing my fingers that things play out just as smoothly for me!

With American Express, the maximum allowed amount is up to $667 (meaning the item can't exceed that price).
I'm trying to figure out if it can be EXACTLY $667, or does it need to be at least a dollar cheaper? It feels a bit trivial, but that’s just how the math is landing right now.

Also—how many days after signing does that first installment actually hit the billing cycle (assuming we're looking at 12 installments total)?