Chase Student Starter Pack

@croatplayer -
no.

In the States? No way. But apparently, this Visa Inspire card is supposed to let you split payments into up to 12 interest-free installments.
Ask them, maybe you'll get lucky.

That’s not going to fly. The total credit limit for installment plans is capped at $333, not $333 per month.

Man, I had no idea there was actually a cap on that account for installment purchases.

Hey guys,

I’ve got a bit of a brain teaser here. So, I’m currently sitting in the red on my student checking account $267 (meaning my total available spending limit is basically just $67) and I really want to grab this thing worth $233 using an installment plan. The shop accepts Salesforce card installments, so that part is easy. What’s tripping me up is something someone mentioned earlier about needing the full price of the item to be "available in your account at the moment of purchase." Does that mean I actually need to have $233 available in my checking account right now (meaning I can only be overdrawn by a max of $100), or does it mean my available funds for the *monthly payments* have to be there (which is currently $333)? 🤔 Basically, is my current balance tied to how much I can pay back in installments?

Common sense tells me that if you already need to have the full amount sitting in your account when you buy it, then what’s even the point of an installment plan? You could just buy it outright right then and there... 🤔 But I figured I'd ask since I'm hoping someone's still hanging around this thread. Thanks in advance. 😵

boldtiger60 said:Hey guys,

I’ve got a bit of a brain teaser here. So, I’m currently sitting in the red on my student checking account $267 (meaning my total available spending limit is basically just $67) and I really want to grab this thing worth $233 using an installment plan. The shop accepts Salesforce card installments, so that part is easy. What’s tripping me up is something someone mentioned earlier about needing the full price of the item to be "available in your account at the moment of purchase." Does that mean I actually need to have $233 available in my checking account right now (meaning I can only be overdrawn by a max of $100), or does it mean my available funds for the *monthly payments* have to be there (which is currently $333)? 🤔 Basically, is my current balance tied to how much I can pay back in installments?

Common sense tells me that if you already need to have the full amount sitting in your account when you buy it, then what’s even the point of an installment plan? You could just buy it outright right then and there... 🤔 But I figured I'd ask since I'm hoping someone's still hanging around this thread. Thanks in advance. 😵

Someone clearly posted something idiotic; I missed the original thread, but it’s strange nobody called them out on it.
To qualify for installment plans, you just can't be overdrawn or carrying other outstanding debt—like if you haven't cleared your Amex balance, for instance.
As long as you aren't in the red $333 you should be fine to use an installment plan up to your approved credit limit.

It’s entirely possible I might have tripped up on something like this once before—my wife actually mentioned it to me after her shift at JPMorgan Chase. However, looking back, she was likely referring to the specific amount required for an installment plan rather than the total cash on hand. I think I just misread the situation; when she said you need to have that certain amount available at the time of purchase, I mistakenly assumed she meant the entire balance sitting in my checking account. But honestly, if that were the case, the whole thing wouldn't make any sense in the first place 😁

She might have mistakenly assumed you need the full purchase price sitting in your account upfront to use an installment plan. Students actually have $333 in credit limits and another $333 available for installments.

If you buy something from $233 on a payment plan, you still have $100 left in your installment limit. As you pay off those monthly installments, your available purchasing power actually grows back. For instance, if you bought something over three installments, next month you'll see $78 deducted for the first payment, which means your free installment limit will be $178 (the remaining 300 plus $78 from that first repayment). This cycle continues until everything is paid off, provided you aren't constantly buying more.

A lot of people wrongly believe that those $333 represent the maximum amount allowed for a single installment, just as they incorrectly assume you need the total sum available in your checking account right away.
Honestly, the tellers at the local Chase branch are always in such a rush to handle cash that they give these rushed, half-baked explanations, which is exactly how these misunderstandings happen 😉

Roughly how long does it take for a debit card to actually show up at the bank?
It’s driving me absolutely insane dealing with this automatic transfer from my savings to my checking account; I'm constantly having to manually move money back just so I can withdraw cash or use my card without getting declined...

I've been using the JPMorgan Chase index package for quite some time now. I turn 27 this June, and I just received an email stating that my access to the index package benefits expires on June 30th, after which I'll be transitioned to standard client status. Given that I'm still technically a full-time student, I wonder if there might be any way to extend the student package benefits for a bit longer.

Just head down to the registrar's office with your student ID showing you're enrolled for this semester and see what they say at the window. There might be a way to extend it.

It’s just not possible to extend it. According to the fine print, once you hit 27, the account automatically switches from student to regular regardless of whether you're still in school or not.

The redesigned American Express student card is finally here. It features contactless payments and now works everywhere abroad, whether you're shopping in person or buying stuff online. 👍

Do the older cards even work abroad? I haven't actually tested mine yet.
Honestly, I’d much rather just keep my current one—even if it lacks contactless—as long as I can still use it overseas without any issues.
Also, quick question: once the holder hits 27 and their status expires, does the card just stop working entirely?
Is it even possible to request a standard American Express instead? I mean, sure, it’s an option, but they’ll probably just shut me down. 😁

I just really hope they don't go around forcing contactless tech onto every single credit card they issue. 🙂

I'm 26 right now and this one doesn't expire until April 2019, so I seriously doubt they're gonna cancel it on my 27th birthday—especially since I use it constantly and always stay on top of my bills.
I linked this one to my PayPal and it works perfectly; no clue how the old one stands up. Give it a shot and see.

Btw, the chip actually works on this new one too.

I wonder if those of us holding an old American Express can just request the redesigned version for free. They sent me a new one back in February because my previous one expired, but this one feels identical to the old design... I turn 27 in June, and I was told I could keep using the American Express until the expiration date on the card hits.

My old one was still good for another three years, I just cut it up (noting that it was damaged 😬), sent it off to Chase, and requested a replacement. It showed up in a few days, and they didn't even charge me a fee for the new card.

That sounds like a solid plan to me...👍

Wait, does the expiration date on the new card match the old one, or is it set to a different timeframe? 🤔

They actually pushed my new one back by like six months.