Chase Student Starter Pack

I’ve got a quick question regarding the student American Express card. I’m currently using one, but lately, I’ve noticed something weird at checkout: multiple merchants aren't approving installment plans anymore. It’s like they’re forcing everything onto a single monthly payment instead. The strange part? This seems to be happening exclusively with my Chase American Express student card—my other cards are clearing installment requests just fine. 🤔 Now that I’ve officially landed a job, I’m planning to ditch the student package and upgrade to a standard American Express with an annual fee. My big concern is whether I'll run into this same headache. Will I still be blocked from making purchases on installments with a regular card? Is this issue tied to American Express itself, the specific merchant, or am I just getting unlucky everywhere?

Just got an email notification saying they’re killing my Chase Index Plus package on December 31st and moving me over to standard client status. 😢 It was a sweet deal while it lasted... 😢

I'm wondering if this means my student American Express card gets scrapped on the same date too, since it's tied to that specific package? The card itself doesn't expire until 04/2019.

If they pull the plug on the card, I've got zero reason to stick around, so I'll just close out my account. 😢

From what I’ve gathered, Amex is still valid.

I have a question regarding the overdraft limit on my checking account under the student S&P 500 package.

Basically, when I was setting up this checking account as part of that specific student package, the bank representative told me the deal lasts until I turn 27—and that I’d be eligible for an overdraft limit of $333 during that timeframe.

However, at the bottom of my November account statement, it says this overdraft facility is valid until April 30, 2016. This has left me completely confused—I can't figure out when I actually have the right to access that $333 overdraft limit.

That credit limit gets reviewed every six months. If you play by the rules—meaning you don't blow past that $333 limit and stay on top of your Amex payments—they’ll keep extending it until you hit 27.

Casey Bennett said:That credit limit gets reviewed every six months. If you play by the rules—meaning you don't blow past that $333 limit and stay on top of your Amex payments—they’ll keep extending it until you hit 27.

Thanks a ton. I actually spoke with some folks over at JPMorgan Chase in the meantime, and they explained the exact same thing—it all makes sense now.

As for the credit card, I haven't even opened it, nor do I plan to; it's just sitting in an envelope, which is probably for the best. All I really need is this checking account feature. 🙂

Thanks again!

I’d personally lean toward the American Express—it just makes more sense when you factor in how you can avoid those pesky interest charges if you play your cards right.

Can anyone give me a ballpark idea of how long I'll be waiting for an American Express card to show up (either at my place or at the bank) once this student package is opened?

Charles Anderson3 said:Can anyone give me a ballpark idea of how long I'll be waiting for an American Express card to show up (either at my place or at the bank) once this student package is opened?

It took about two weeks for mine. Plus, it sat in my mailbox for another week before they actually called me to ask why I hadn't activated it yet.😁

Hello, everyone.
To clarify, I am currently on a student banking package, but I turned 27 this past December.
I received an email stating my student benefits would expire at the end of the year—which was actually yesterday.
Looking at my JPMorgan Chase account right now, it shows the following:
-$337
Available balance: -$10.79
Overdraft limit $333
Valid until 02/29/2016
However, the newly approved overdraft amount and the applicable interest rate are both listed as blank.
The installment plan section is also empty, whereas previously it showed $333
Could someone please explain what this actually implies regarding my current standing?
Primarily, when exactly will I be required to repay this $333 deficit to the bank?

urbanscout53 said:Hello, everyone.
To clarify, I am currently on a student banking package, but I turned 27 this past December.
I received an email stating my student benefits would expire at the end of the year—which was actually yesterday.
Looking at my JPMorgan Chase account right now, it shows the following:
-$337
Available balance: -$10.79
Overdraft limit $333
Valid until 02/29/2016
However, the newly approved overdraft amount and the applicable interest rate are both listed as blank.
The installment plan section is also empty, whereas previously it showed $333
Could someone please explain what this actually implies regarding my current standing?
Primarily, when exactly will I be required to repay this $333 deficit to the bank?

Basically, that approved overdraft stays valid until February 29th, and you have to clear it by then. If you don't, you're going to be stuck with an unauthorized overdraft.

What are the consequences if I remain in this unauthorized area for too long, and is there any way to extend my stay?

urbanscout53 said:What are the consequences if I remain in this unauthorized area for too long, and is there any way to extend my stay?

You can open a new line of credit as long as you've been working for the same employer for six consecutive months.

I’m not entirely sure how much of an overdraft they'll tolerate before things get ugly, but honestly? My advice is to get that sorted out ASAP!

Chill out...
First, wait for that letter from JPMorgan Chase telling you they're pulling your overdraft protection. Once you have that in hand, take it down to a branch and ask them about setting up a payment plan.

What actually happens if I don't clear an authorized overdraft—say, $300—by the agreed deadline, like April 30th, 2016? To put it plainly: let’s say I pay back $233 but still have $67 hanging out there unpaid. Am I looking at some kind of lawsuit or legal headache, or does the bank just refuse to extend any further credit until the balance is wiped clean? Just to be crystal clear—I have absolutely no intention of being $333.

The overdraft stays active automatically as long as you keep your accounts in good standing and meet the eligibility requirements for the student package. This means starting March 1st, your new limit will be $333. You aren't required to pay back the overdraft itself, though you really ought to be careful not to exceed that $1,000 threshold once interest or other fees start piling up.

Casey Bennett said:The overdraft stays active automatically as long as you keep your accounts in good standing and meet the eligibility requirements for the student package. This means starting March 1st, your new limit will be $333. You aren't required to pay back the overdraft itself, though you really ought to be careful not to exceed that $1,000 threshold once interest or other fees start piling up.

So, what you're saying is I don't need to scramble to pay back every cent by that date? As long as I absolutely do not exceed $333, I'm fine?

Exactly right.

Look, I hope it’s crystal clear by now—whether you're sitting at your authorized limit or you've gone over it, interest is racking up. Sure, the rate on the authorized part is lower than the penalty rate on the overdraft, but an interest charge is still an interest charge. Bottom line? It’s in your best interest to pay that balance off as fast as you can. 🙂

Does Amex just go by signature? It's been a while now and I still haven't gotten my PIN in the mail.