I typically automatically pay off my card balance in full every month.
I made a $2500 purchase on my Freedom Unlimited card.
Chase states it is "pay over time eligible", offering me the option of paying it off over 24 months at 0% interest ($104.17).
On the surface that sounds great...maybe too good to be true.
But when I click on that option, I get this cryptic message:
"Update automatic payment settings
You currently pay your full statement balance automatically each month, which would pay off the total amount of your plan early.
To update your automatic payment to an option that combines your monthly plan payment with the full amount of new purchases into a single payment, read and accept the terms of the agreement here. You'll see this option on your statement as "Interest saving balance".
This change is recommended but not required, and won't affect your current pay-from account or due date.
Chase Automatic Payments Service Agreement (Interest saving balance)
(check box) I want to update my automatic payment option to interest saving balance. I've read, and I agree to the Chase Automatic Payments Service Agreement (Interest saving balance), which governs my use of automatic payments."
QUESTION:
If I accept this payment option, will I still automatically pay my full balance every month, EXCEPT for the $2500 purchase, and just be charged $104.17 per month for that purchase for 24 months, also automatically paid, thus incurring no additional fees?
Am I missing something? Would I have to pay the $104.17 manually every month, so they would count on me forgetting? The option is also available for another >$1000 purchase.....seems too good to be true.
Have any of you done this?
I made a $2500 purchase on my Freedom Unlimited card.
Chase states it is "pay over time eligible", offering me the option of paying it off over 24 months at 0% interest ($104.17).
On the surface that sounds great...maybe too good to be true.
But when I click on that option, I get this cryptic message:
"Update automatic payment settings
You currently pay your full statement balance automatically each month, which would pay off the total amount of your plan early.
To update your automatic payment to an option that combines your monthly plan payment with the full amount of new purchases into a single payment, read and accept the terms of the agreement here. You'll see this option on your statement as "Interest saving balance".
This change is recommended but not required, and won't affect your current pay-from account or due date.
Chase Automatic Payments Service Agreement (Interest saving balance)
(check box) I want to update my automatic payment option to interest saving balance. I've read, and I agree to the Chase Automatic Payments Service Agreement (Interest saving balance), which governs my use of automatic payments."
QUESTION:
If I accept this payment option, will I still automatically pay my full balance every month, EXCEPT for the $2500 purchase, and just be charged $104.17 per month for that purchase for 24 months, also automatically paid, thus incurring no additional fees?
Am I missing something? Would I have to pay the $104.17 manually every month, so they would count on me forgetting? The option is also available for another >$1000 purchase.....seems too good to be true.
Have any of you done this?
Statistics: Posted by protagonist — Sun Sep 29, 2024 5:40 pm — Replies 7 — Views 303