Saturday, August 2, 2008

Chasing Tails...

If you don't have a credit card with Chase, don't bother. Let me tell you why.

If you make your payment two days before the due date, they will hold the payment for "processing" for seven days, and it will therefore be late, even though you made it on time through the Chase web site. They will charge you a $40 late fee for your late payment.

If you make the next payment two weeks before the due date because of that previous experience, they will put the payment through immediately and apply it to the previous bill you already paid. Then, because you think you have paid the current bill, you will receive another late charge because it is still due.

Sound shifty? I thought so too.

I tired of this bullshit from Chase, so we closed Mrs. Smiths Chase account. When I paid the bill on the Chase credit card web site, I clicked the "Pay entire balance"option to pay it to a zero balance and have it go away. Today, we got statement for $8.89 finance charges.

Hey, hold the hell on a second. I thought I paid the balance to zero. A call to Chase clarified things. It was the same Chase bullshit I have experienced since the get go. Because I made the payment two days after the start of a new billing cycle, the finance charge hadn't had time to show up on the statement before I paid it. It wasn't a late payment fee because the payment wasn't late. It was finance charge because a new billing cycle had started in the two days since I paid the bill off.

Any of my other card companies would waive this fee if I asked, and have done so in the past, but not Chase. "I'm sorry sir. We can't waive the fee on a closed account."

Chase, you have lost my business forever. I will not risk my credit by getting a home mortgage with your company, and I will certainly never have another of your credit cards. I am perfectly happy with my Capital One and Barclay's cards, thank you.

So go chase your friggin' tails you money grubbing bastards.


USAincognito said...


RoaVaPD said...

Banks never cease to amaze me with their nickel and diming customers to death. I can't tell you how many bank accounts I've closed because of stupid fees or rules. I tried buying furniture once on my debit card and was turned down because I hit some arbitrary maximum daily limit on the card. Never mind I had ten times the amount of needed money in my account, I wasn't allowed to use it. If I didn't want the convenience of paying with plastic I stuff all my money in my mattress.

Anonymous said...

Banks kill me with their bull.I had a check bounced for improper signature. I did not dot the I in my name.But yet they processed my girl friends check on same account.Without it being signed. I went in a rasied the roof.Got the fees back and a letter sent to explain the bounced check. Closed the account.

Officer "Smith" said...

I have my checking account at the same bank I have used since I was a kid. I wouldn't give them up for anything.

Even my other credit card banks are fine, as long as payments are made on time and I monitor the balance, all is well.

I've never experienced anything like this crap from Chase though.

Anonymous said...

Yep, and Discover is far, far worse.

*Goddess* said...

I have about $200 more to go on my Chase card and we're closing it, too. We have good credit and were dumb enough to believe those "just call and ask them to reduce your interest payment and they will" stories we heard. Even though we only pay about 4.99 on Citi, Chase was willing to drop their rate a generous 1/2 percent to 18%. I hate 'em too. Citi card *knock wood* has been pretty good to deal with.

justusforall said...

I hope Congress passes some laws to stop the incessant fees/charges that banks keep piling on customers in order to pad their bottom line. It's getting to the point where, unless you follow their procedures to the letter, you're going to get hit with all sorts of NSF fees/finance charges/late fees/overdrawn fees. It's ridiculous, and we all know banks do it on purpose. This should be an antitrust action, I bet you anything that bank's have internal memos showing: if we adopt this policy, we can expect to see this much of an increase in late charges, etc etc.