Chase Student Starter Pack

Jose Lopez7 said:Hey everyone, quick question for you all. I’ve got a few months left before I graduate, and right now I’ve already got my checking, savings, and online banking set up through my student account, plus I'm working. Is it possible to head down to Chase and just add mBanking to what I’ve already got with Chase Mobile (where I currently pay $2.75) so that I can bundle both services together for $1.75? I don't really care about the checking side since there aren't any maintenance fees anyway, and I don't need an American Express card unless they throw it in for free. Basically, I just want to take advantage of the lower rates for mBanking and Chase Mobile while I still have my student status, and then once I graduate, let everything just sit there so I'm only paying $1.75.

Anyone know? 🙂

Also, does anyone know the actual difference between the student American card and the Inspire card? Like, can you use the Inspire one to buy stuff in 12 interest-free installments too?

I was wondering about the Chase Education loan
if I actually get approved, does the money go directly "into my hands"—meaning, is it just dropped onto my card, or how does it work?

Jose Lopez7 said:Anyone know? 🙂

Also, does anyone know the actual difference between the student American card and the Inspire card? Like, can you use the Inspire one to buy stuff in 12 interest-free installments too?

The big difference is that on the Inspire, you've got a $1,000 limit, whereas on the American $667... basically, they're both pretty much useless to you right now... 🙄

Andrew Wells2 said:The big difference is that on the Inspire, you've got a $1,000 limit, whereas on the American $667... basically, they're both pretty much useless to you right now... 🙄

Honestly, 🙄 I went down to the branch today to see if I could just toggle the service on, but apparently it’s all or nothing. So now my checking account is officially being switched over to a student account 😢... just great.

I guess I was wondering if anyone here has some actual experience with the Chase Education loan, maybe if you could share a little bit about how it worked for you?

So I had that student package and they went and hit me with a negative balance and an overdraft fee... can I even get that package back now or am I just screwed?

If I have $133 available for installment purchases, but I'm currently sitting in an unauthorized overdraft, would I still be able to go through with a purchase for those 400 bucks?

@steelheron53 - not while you're sitting there deep in the red

Is it possible to add a foreign currency account to my student package after the fact? I’m already using the student plan, but I find myself needing a foreign currency account now. I’m just worried that if I open one, they might claim it doesn't fit the student bundle and start charging me full price for everything. I guess I'm just unsure if adding it will mess up my current rate. Thanks.

You can. The foreign currency account has absolutely nothing to do with the student package, nor does it affect it in any way whatsoever.
But yeah, you’re paying for it separately. There is a monthly fee involved—just go look up the specific fees on the Chase website.

I have a question. Here’s the situation: I have a Chase student package, and a few days ago I withdrew $267 and ended up overdrawn. Right now, I'm down by $267. My question is this: if I deposit something like $300 next month to clear the negative balance and get back to $33, will I be able to dip back into the overdraft just a few days later if I need the cash? Or am I stuck waiting out a certain period first? Thanks.

You can dip into the red whenever you feel like it. 🙂 That negative balance is basically just the bank giving you extra cash to play with.

What happens if I go over my limit, say by -$467? What’s the fallout, assuming I pay it back in full next month?

Then you lose your overdraft protection and have to pay back the whole thing at once. I don't even get how you're planning on overdrawing. The only way that happens is if you're using a debit card for installment plans...

rapidskipper12 said:Then you lose your overdraft protection and have to pay back the whole thing at once. I don't even get how you're planning on overdrawing. The only way that happens is if you're using a debit card for installment plans...

Wait, I'm currently overdrawn $267. It isn't on my debit card, but on that other account where I have a $333 overdraft limit. Does that mean I can't exceed that thousand-dollar limit? Or can I, but if I do, I lose the right to an overdraft until the entire thing is paid off before I'm eligible again??

And how exactly do you plan on overdrawing it??

You’ve got your overdraft limit of $333, your Maestro or Visa Inspire debit card limits $333, plus an American Express student card with a $667 limit.

None of those can be exceeded. The only way you'd hit a negative balance is if an installment payment hits and pushes you over the edge, but then you lose your privileges and your account (or card) gets frozen until you pay back every cent you owe.

Clearer now?

Thanks. I have a follow-up. I've been overdrawn $333 for two weeks now. I plan to clear the balance on November 28th. How much interest am I looking at, and can I rely on having that overdraft available again the very next day once it's settled?

If you use that overdraft of $333 for a month, they’re gonna hit you with 9-$3.25 depending on which 'innovation' package you have. That means by the end of the month, you're looking at a $1.75 charge. That negative balance is just the cushion the bank lets you tap into whenever you feel like it.

Has anyone checked out the new promotion from Amex? They’re offering 24 interest-free installments through PayPal... from what I can tell, there isn't even a minimum purchase requirement. I’m thinking about picking up a few things near $250—do you think they'd actually approve me for the 24-month plan? It would be roughly $10 per month. Just a heads-up, I'm currently using a student Amex card

I have a question. I have a student package at Chase and I received an Amex ( $667). Since I have no idea how this works, I’m wondering: if I want to buy something at a store worth $200 and split it into three installments, when is the first payment due? When is the second? When is the third? To pay an installment, do I need to have funds in my checking account, or will they just pull from my overdraft? Also, are there any interest charges? Finally, what exactly should I ask the cashier when paying with an Amex? Do they have a card reader or something? Thanks.