topic Re: Chase Blueprint in Credit Cards

Chase Blueprint

cdtotten — Tue, 15 Sep 2009 20:00:43 GMT

For those who have not seen yet, Chase released a program called Blueprint that allows you to setup payment plans besed off many different areas. I.e. you can setup a payment plan to automatically pay off certain categories of transactions (food, gas) in full at the statement to ensure no interest is charged.

Anyways, as I signed up for a couple things, I noticed one of the programs offered allows me to setup a payment plan to payoff my "cash advances" taken. Although they are only 600, I carry a large balance so I am paying 19.24% int on this money every month instead of the normal 11.24%. The program allowed me to say I wanted to pay off this balance in 2 months (that was the minimum). Are they really going to apply my extra payment to the cash advance instead of the lower % purchases balance? Anyone know?

Thanks for your help guys.

Re: Chase Blueprint

Anonymous — Tue, 15 Sep 2009 22:01:38 GMT

sounds like a gimik I it last little value,traditioalwidom says do not consumables on credit, so they track these transaction so you can pay them, but if you don't off other stuff you charged interest and those consumable purchases contribute to the balance you pay on , I was looking forward to playing around with budgeting tracking but my amazon account does not have it

Re: Chase Blueprint

cdtotten — Wed, 16 Sep 2009 12:55:38 GMT

Thanks for the reply. Anyone know if they will apply the payment to the highest APR if you set it up as mentioned in the OP?

Re: Chase Blueprint

Anonymous — Wed, 16 Sep 2009 13:15:04 GMT

This sounds pretty awesome.. i have this issue with navy fed right now where they pay like 80/20 purchases / cash advances (+2% apr) and I don't care for it.. they would not let me forcefully pay the higher apr..

Re: Chase Blueprint

Anonymous — Wed, 16 Sep 2009 14:18:02 GMT

cdtotten, I'm not sure if any one can answer your question definitively except Chase. However, I'm leaning towards the opposite that they will apply payment to your lowest APR first per your contractual agreement. I saw the Blueprint email yesterday and I haven't really read it in its entirety. Give them a call and see what they say. Good luck!

Re: Chase Blueprint

itsjustmeibe — Wed, 16 Sep 2009 14:52:05 GMT

@cdtotten wrote:
For those who have not seen yet, Chase released a program called Blueprint that allows you to setup payment plans besed off many different areas. I.e. you can setup a payment plan to automatically pay off certain categories of transactions (food, gas) in full at the statement to ensure no interest is charged.

Anyways, as I signed up for a couple things, I noticed one of the programs offered allows me to setup a payment plan to payoff my "cash advances" taken. Although they are only 600, I carry a large balance so I am paying 19.24% int on this money every month instead of the normal 11.24%. The program allowed me to say I wanted to pay off this balance in 2 months (that was the minimum). Are they really going to apply my extra payment to the cash advance instead of the lower % purchases balance? Anyone know?

Thanks for your help guys.

@I signed up for blueprint yesterday too for the same reason. The terms of the program allow you to pay off a higher interest rate balance and I absolutely believe that will happen. When you get a statement, there is a "blueprint" balance and a reg minimum payment. I have a $2,000 balance at 14.24% and balance transfers @2.99%. So I am going to pay the $2k in 2 month installments as well as a payment towards the reg bill. I even noticed that the option to make a blueprint payment is available online separate.

Keep in mind with new legislation, credit cards have to apply your payments to higher interest rate balances as well as lower interest balances starting in February so it seems like Chase is being proactive.

Account Summary Outstanding balance† $13,311.88 See activity Payment due date 09/20/2009 See statement Minimum payment due $0.00 Pay credit card BLUEPRINT Payment Due $272.00 Go to BLUEPRINT Pay this amount to stay on track with your BLUEPRINT plan. This amount includes your minimum payment due. Balance last statement $13,609.68 Available credit† $30,688.00 Transfer balances Total credit limit† $44,000.00

Message Edited by itsjustmeibe on 09-16-2009 07:51 AM

Message Edited by itsjustmeibe on 09-16-2009 07:52 AM

Re: Chase Blueprint

Anonymous — Wed, 16 Sep 2009 14:27:42 GMT

Well if that is the case then I agree with itsjustmeibe.

Re: Chase Blueprint

Anonymous — Wed, 16 Sep 2009 14:55:20 GMT

I liked the chase split concept, you split one big purchase into number of payments of your choosing and then you pay interest only on that purchase and not on other purchases.

As of now the APR charged on the split purchase is same as the purchase APR, I hope that in the future Chase will offer low APR on split so that it gives an incentive to the Chase Freedom customer to charge a big purchase on the card and split it.

Re: Chase Blueprint

Anonymous — Wed, 16 Sep 2009 20:53:52 GMT

I actually signed up for this as well for the Chase Card that I presently have. I like the Finish It! Feature that they've added. You're not held to anything (it's not like there is a penalty for not making the Finish It! payment), but I like that at least now Chase is fully aware of how aggressive I am being in paying off my balance - perhaps that can prevent some Adverse Action, because my Blueprint goals will appear on my statement. Although, it would've been nice if they offered some sort of APR incentive for staying on track - say...make 3 payments equal to your Finish It! amount, and they lower your APR 3%. Beggars can't be choosers though, right?

But I can't wait to see my new statement and to see the balance go down on their Blueprint Site.

I think it's a great concept to allow people who are currently in CC debt, paying off CC debt, or trying to figure out how long it will take them to get out of CC debt to see their progress. I'm a big believer in celebrating tiny milestones, and this Blueprint feature will be just that for me.

Re: Chase Blueprint

Takunda1 — Wed, 16 Sep 2009 22:22:34 GMT

@cdtotten wrote:
For those who have not seen yet, Chase released a program called Blueprint that allows you to setup payment plans besed off many different areas. I.e. you can setup a payment plan to automatically pay off certain categories of transactions (food, gas) in full at the statement to ensure no interest is charged.

Anyways, as I signed up for a couple things, I noticed one of the programs offered allows me to setup a payment plan to payoff my "cash advances" taken. Although they are only 600, I carry a large balance so I am paying 19.24% int on this money every month instead of the normal 11.24%. The program allowed me to say I wanted to pay off this balance in 2 months (that was the minimum). Are they really going to apply my extra payment to the cash advance instead of the lower % purchases balance? Anyone know?

Thanks for your help guys.

They are simply doing what the new cc laws that go into effect next yr state, Yes they will apply pymnts to higher balances first, becasue the law clearly states that this is what they are required to do. I guess they started early to woo some customers from other cc companies that haave not implemented the practice yet.

Re: Chase Blueprint

Anonymous — Thu, 17 Sep 2009 00:16:41 GMT

@Takunda1 wrote:
They are simply doing what the new cc laws that go into effect next yr state, Yes they will apply pymnts to higher balances first, becasue the law clearly states that this is what they are required to do. I guess they started early to woo some customers from other cc companies that haave not implemented the practice yet.

True, not sure about CCC, chase is taking the initiative and came up with a product to comply with the law.

Re: Chase Blueprint

Anonymous — Thu, 17 Sep 2009 12:25:20 GMT

It is my understanding that the new CC regulations coming down the pike next year will include a provision that allows customers to pay off higher APR balances.

If my understanding is correct, I would assume that CCC's will start to implement prior to effective date so that they are compliant by the time they are required to do so.

Several CCC's now allow this. For example, GEMB accounts such as CareCredit, Rooms to Go, etc. all allow you to pay toward higher APR balances without paying off promotional or lower APR balances.

Re: Chase Blueprint

Anonymous — Thu, 17 Sep 2009 15:13:57 GMT

@Anonymous wrote:
It is my understanding that the new CC regulations coming down the pike next year will include a provision that allows customers to pay off higher APR balances.

If my understanding is correct, I would assume that CCC's will start to implement prior to effective date so that they are compliant by the time they are required to do so.

Several CCC's now allow this. For example, GEMB accounts such as CareCredit, Rooms to Go, etc. all allow you to pay toward higher APR balances without paying off promotional or lower APR balances.

So far only Chase freedom has that product linked. The other Wamu->chase card does not have this product to choose.