Chase Student Starter Pack

The student American Express card has a limit of $667, so your total balance—whether you're paying it all at once or using installments—can't top $667.
If you try to split a payment online, it won't work. If you're trying to book with Delta Air Lines, though, your best bet is to hit up a branch and see if they can make it happen.

Hey everyone, I’ve got a question for the group. I’m on one of those student banking packages, but honestly, I don't touch credit cards or online banking at all. I just use my debit card for whatever my parents transfer to me, and every month, they hit me with that $1.75 service fee. On top of that, I have an overdraft limit of about $150, which—let’s be real—I’m constantly sitting in. My parents send money every month just to clear the negative balance, so it’s a constant cycle. Can anyone explain how the interest on an authorized overdraft actually works? It's listed at around 8-9% annually. Does that mean they’ll just calculate the interest and one morning I’ll wake up to find the money gone from my account? I’m asking nicely here—can someone break this down for me in the simplest terms possible? Interest for dummies, please. Thanks 🙂

The interest rate on your overdraft is sitting at 8.98% annually. They’ll hit you with that plus the monthly fee for the student package, which is about $1.75. 😉

Hey, has anyone picked up an American Airlines student card lately? Is the $667 limit monthly or just the total credit limit on the card?

Total..

That limit is absolutely insane 🙂)

Once I pay off $667 in one go or through installments, does my credit limit actually reset

🤷????

Hell yeah, absolutely.

Folks, I have a question for the group, and if anyone feels inclined to weigh in, I would certainly appreciate the insight... I recently picked up a little something on my American credit card—no installment plan, mind you—so the full amount is due next month. It appears I wasn't properly informed that the payment is automatically drafted on the 10th of the month, and as luck would have it, my checking account is currently sitting empty right when the deadline hits... what happens now?? How am I supposed to settle this bill, and should I expect them to start tacking on interest charges?

So, I have a question—actually, make that several questions—because honestly, I am completely lost here. I’ve had this account package for about a year now, but because I am incredibly forgetful, I managed to slip into a negative balance $338. What does that actually mean for me? Like, how much am I getting hit with in monthly interest? If I manage to cover some of it with, say, $67, does that mean my interest charges will drop if the deficit stays under $1,000? I finally landed a job, which is great, but my first paycheck won't hit until two months from now, and I don't have $333 on hand to settle this right away... I am just totally overwhelmed by all of this.

Just toss in at least $6.75 so you don't hit that overdraft limit. Your monthly interest is sitting around $3.25, plus there's that $1.75 service fee for the account package. If you put in $67, the interest should clear in about $0.67... You don't actually have to pay it off right now since it's within your authorized limit. You can keep using it just fine, you just can't go over the line—if you do, you lose the overdraft privilege and have to bring the balance back to zero immediately. 😉

rapidskipper12 said:Just toss in at least $6.75 so you don't hit that overdraft limit. Your monthly interest is sitting around $3.25, plus there's that $1.75 service fee for the account package. If you put in $67, the interest should clear in about $0.67... You don't actually have to pay it off right now since it's within your authorized limit. You can keep using it just fine, you just can't go over the line—if you do, you lose the overdraft privilege and have to bring the balance back to zero immediately. 😉

So, how much is this actually draining from my account every month? Like, if I went to the bank today to deposit $67, I'd still be sitting at negative 800. Would that mean I'm losing roughly $5.00 every single month? And once I finally manage to get back to zero—or even get into the black—will they still be hitting me with those same fees? Sorry, I’m completely lost in all this banking jargon.

Nah, that monthly fee of $1.75 gets pulled regardless of what your balance looks like, but your interest rate depends on how much you're overdrawn.
If you're $333 constantly in the red, they’ll hit you with $3.25 in interest plus $1.75 for account maintenance. If you're down by $267, expect $2.75 plus $1.75 for fees. If you're $167 deep in the hole, interest jumps to $1.75... If you're sitting at zero, they won't charge interest, just the standard $1.75 service fee. Clear enough now?

rapidskipper12 said:Nah, that monthly fee of $1.75 gets pulled regardless of what your balance looks like, but your interest rate depends on how much you're overdrawn.
If you're $333 constantly in the red, they’ll hit you with $3.25 in interest plus $1.75 for account maintenance. If you're down by $267, expect $2.75 plus $1.75 for fees. If you're $167 deep in the hole, interest jumps to $1.75... If you're sitting at zero, they won't charge interest, just the standard $1.75 service fee. Clear enough now?

Ohhh, wow... thank you so much! :P I went into my local Chase branch today feeling like a total klutz and deposited $100, asking them every single question under the sun... but you explained it way more clearly than they did 😁 ugh, thanks 😁

Just one quick question. I received my bill about ten days ago, but I accidentally didn't have the full amount ready in my account by the due date. It was actually short by just a few bucks, but I've already gone ahead and transferred the funds to cover it. Does anyone know when the payment will actually clear, and what kind of interest am I looking at for being slightly late? I'm hoping someone can help so I don't have to make a trip down to JPMorgan Chase... 😁

I just opened an account with that specific package yesterday... when can I actually start withdrawing cash? Do I need to wait for the debit card to arrive in the mail, or is there another way?

Help needed 😬
I have a student checking account and an Amex student card—except I’m technically not a full-time student anymore (switched to part-time status). Yesterday, I tried to make a purchase and got declined, which was bizarre since my balance was fine. While waiting on hold with their customer service line, I realized my card actually expired last month. When the representative finally picked up, I asked how to fix this, and he hit me with the question: "Are you still enrolled full-time?" I blurted out "no" immediately 😵. His response? Return the card to JPMorgan Chase because I no longer qualify for the student perks. Is there any way to keep the card? I didn't go to the branch right away—classic move—and now I'm regretting calling them because I really love this card; the credit limit is perfect for me. I recently started a job, but it's just a temporary gig at minimum wage, so I don't meet the income requirements for a standard Amex. What should I do? Is it possible a replacement card arrived at the bank and I could just pick it up? I haven't received any notifications. Or did that guy already flag my account as ineligible? I'm such an idiot 😢

My new card showed up in my mailbox about two weeks before the old one even expired.

It means absolutely nothing to me 😢 if I can just say goodbye to my card 😢
Could age be a factor here? Being 28?
Honestly, it’s pretty disappointing...