Let’s accept it. Most of us really hate having to pay extra interest on our credit card, just because we are unable to pay on time! The mandatory requirement for the US credit card vendors is not to charge any interest before 21 days in any given month. However, sometimes it becomes difficult to meet this deadline. Perhaps it’s time you knew more about Chase Blueprint
Introducing Chase Blueprint
Chase Blueprint is an online tool, filled with several interactive features that helps you plan your personal finance and expense which is available on the web-portal of Chase. This feature is available to subscribers of 4 specific credit cards which include Chase Slate, Freedom, Ink and Sapphire. With an extremely user-friendly interface, as well as, detailed graphic displays you can easily manage a lot of your personal finance issues without much complexity. Combining your credit card expenses with schemes from Chase Blueprint helps you to prevent paying unnecessary interest in a lot of handy ways.
The Choice Is In Your Hand
Using the Blueprint, you can choose which bill do you want to pay beyond the deadline. However, if you were able to pay that certain account on or before the due date, no interest will be charged. This means that if you decide to pay $500 on your gas and electric bill on blueprint, but you spent a total of $550 on other items, then you need to pay interest only on the excess $50! This can save you a lot of interest expense.
Using the Full Payment Option
With the Chase Blueprint, you can choose what account will be paid in full. So when it’s time to pay the credit card bills, no interest rate will be charged no interest on your chosen account. Hence, you can save a big sum of money by prioritizing your expenditure titles.
Helping You Split Large Expenses
If you owe a big amount on a certain account in your card and you would like to divide your payment into several months, you can take advantage of Chase Blueprint’s tool called “split it.” It helps you divide your monthly payment for the expenses based on your interest rates and purchase total. This feature helps you track your progress about how your payment is working out.
Finishing Your Accumulated Balances
With a tool called Finish It, Blueprint calculates a definite monthly or periodic payment scheme to get rid of those accumulated balances on your credit card.
Tracking Your Purchases
Through a budgeting tool called Track It, Blueprint allows you to budget several items that are part of your daily expenditure. With interactive graphs to explain your spending, this is a handy tool for your daily budgeting.
Benefits of Using Blueprint
Chase Blueprint could benefit users in many ways. Some benefits are as follows:
- Reduction of overall interest payments, thus saving money for customers
- Allows users to keep track of their individual expenses through interactive tools like Track It and Split It.
- Provision of monthly reports and statements on credit card, compared to the yearly reports that other cards provide.
Although it seems on the outside that Blueprint could only have advantages, there are some hidden snags in the card. The drawbacks are as follows
- Blueprint seems to be based on the assumption that all your expenditures will only be from credit card. Hence when cash needs to be used for some expenses, it will simply be not visible from Blueprint, which thus tells only the partial story.
- Only reduction of interest seems to be the priority with the use of Chase Blueprint. However card holders still have to keep balance, which will ultimately increase the interest expenses for many customers.
- Some difficulty might be encountered by customers in keeping track of all the features and designations, especially in the early stages.
Chase Blueprint is a powerful tool to maintain your expenses. It also saves you from making some interest payments. However it is still important that you to acquire some detailed knowledge to use it in a beneficial manner.