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 Shady Business Practices at Chase Bank
Posted Fri November 6, 2009 12:00 pm, by janese c. written to Chase Bank of Texas NA
Write a Letter to this Company
After doing business with Chase for over 6 years and paying all my bills thru their bill pay web site, I started to get notices from my Chase card that my payment had not yet been recieved. Well, since the monies were coming from my Chase checking acct and I had been managing the payments of all of my accounts this way for over 6 years and had never gotten a notice of payment not recived, I was puzzeled.
Then I realized, if my payment is late, Chase can charge me a late fee and go up on my interest rates. This was my first problem with Chase...in over 6 years.
Then, I got notice that all of my credit cards balances had all been lowered, by several thousand dollars. So, now I look as though I am someone who uses up all their credit to the max. I had some cards with $20,000 that had only $1200 charged and the limit is now $1400.
Now, I made a transfer of funds into my checking account. I waited until I saw the balance of my checking acct go up then saw debits against that balacne being paid, so I started to pay some bills. Well, the Chase Card then turned around and declined the transfer, after sending me a letter they would honor my original credit limit, they took it back down, paid all of the bills, charged me $20 fee for the back and forth transaction of the transfer and $100 for overdraft on my checking account.
It's all about fees and being able to raise interest rates. Now, I am late on one of my Chase cards, because they would not honor the payment, cause they took the transfer out...now I have a late fee and they will go up on my interest....
I have gotten notices from some of my card companies saying they would be going up on interest, anywhere from 15 to 25%!!!!!!!!!!! I had no intetion of getting money from the mob or loan sharks!!!!!!!!
1. I want them to honor the original transfer, 2. reverse the $20 fees and the $100 overdraft fee...
3. honor the payment to the account that is past due...
4. do not show a late payment..
5. do not charge me a late fee and
6. do not go up on any of my interest on any of my accounts
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Why not just auto draft from your checking account? Sounds alot easier
to me.
Good Day
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by Donno Posted Fri November 6, 2009 @ 4:18 PM
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In light of the fact there will inevitably be a "this is what happens
with credit cards" comment showing up, the question is what caused it
to happen, now that it has happened. Was this the bank's fault, or
the OP's? We know the bank has polices to do what they did; the
question is was it the OP's at fault.
I read this twice, and I could not figure out the root cause of the
initial non or late payment. Why was it not received? Insufficient
funds? It wasn't scheduled on time? Wasn't scheduled?
The rest of this shows what happens when credit cards are paid late,
and that is to be expected. I use a credit card, and I know these
"shady practices" are what I agreed to when I got the cards. Banks
CAN seem like loan sharks if you don't follow the rules. But I
couldn't tell which one you evidently broke.
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by Venice Posted Fri November 6, 2009 @ 3:23 PM
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I'm going to beat Rowdy to the punch here. I understand both sides of
the credit/cash debate, but this makes using credit sound awfully
complicated. All these cards, accounts, balances, transfers, etc.
The banks must love customers who give them so many opportunities to
charge fees. I envy you for being able to keep track of all that.
And you're probably right about the bank, but I doubt they'll see it
that way.
Good luck!
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