Has anyone used the program Chase Pay Over Time℠ (formerly My Chase Plan®) to do a payment plan on a large purchase?
There is a note below it when I try to start a plan that says
“If you receive interest rate and fee benefits under the Servicemembers Civil Relief Act or similar state laws, they'll apply to this plan once it's active and throughout your benefit period.
We've refreshed to improve your experience.”
Does that mean the fees are waived for this program? Has anyone got the monthly fee waived. The program itself is interest free.
Payment plan- Chase Pay Over Time
byu/cheweegummybear inMilitaryFinance
Posted by cheweegummybear
2 Comments
I can’t help you with your question, but I caution you against using a CC and not paying the balance in full each month. To me, it seems bonkers to swipe your CC and then make a second agreement to pay the charges you can’t pay each month over a period of time y’all agree on. Seems like a snowball that can get out of control real quick.
My advice to anyone that is younger than me ~40. Please don’t spend your best years scraping by paying debts you acquire in real time. Pay yourself 15% to your retirement, keep your monthly expenses under 60% (housing/food/car/phone/etc). 10% for future/current family events, HYSA (future home/trips/emergency fund). 15% for F-U Friday night money. Just my .02
I’ve used it multiple times. Seems like as long as you only have one it is interest and fee free. I think it’s a good option as long AD you only use it when there isn’t any interest or fees attached, basically a 0% loan.