Did you know this about CHASE Credit cards?

I caught this by chance, moving across country I had been pretty much just opening bills and paying them without close examination. One month I noticed on the CHASE statement I had a credit from over payment yet I also reflected some 30.00 in interest charges??? I called and asked if my payment came late? No it was actually two days early. Then why the interest charges if it%26#039;s over paid? Because it is their policy to charge you interest right up till payments received, no 25 day grace period as with other creditors. I asked then can you apply the overage to my other card? No it is our policy we have to refund you upon request by check...hmmm that way they aren%26#039;t halting interest charges on the second account. I then asked what is the pay off on my second account because of your %26quot;policies%26quot; I am going to close both accounts. I was then informed their policy forbids them to provide you with the pay off amount of your own account. They can give you the principle balance but not the pay off

Did you know this about CHASE Credit cards?

Its good to know that I am not the only person who hates getting screwed over by big business....I am so on your side with this one! If everyone was smart enough to stand up for their rights as consumers, maybe we wouldn%26#039;t have such common practices like this. GOOD FOR YOU!!!!!!!!!

Did you know this about CHASE Credit cards?

MY HEAD EXPLODE!!!!!!!!!!!!!

Did you know this about CHASE Credit cards?

no i didnt know that

Did you know this about CHASE Credit cards?

I would call the consumer protection agency immediately!! Just because they have a %26quot;policy%26quot; doesn%26#039;t mean it%26#039;s fair or legal. Good luck.

Did you know this about CHASE Credit cards?

If you were carrying a balance (ie had money owing at your previous statement) then there is no grace period on new purchases. And you will find that is with EVERY credit card and credit card company.

Sorry if I find it humorous that you JUST found this out, what this tells me (as I find SO OFTEN when people bytch about things but especially credit cards) is that you never read the agreement you signed when you got the card and probably have never read any of the updated agreements they have sent in your statement. Yet its THEIR fault for doing EXACTLY what they TOLD you they were going to do in the terms %26amp; conditions of your credit card agreement.

So whose fault is it really? And in your misguided anger, you closed both accounts, lowering your credit utilization factor and cutting short what was surely a positive trade line.

As far as %26quot;sticking%26quot; it to Chase by carrying a negative 2 cent balance, sorry not only is that not even a microscopic pimple on their butt, its pretty juvenile behavior. Kind of like getting mad over something that you would have and should have known with just a minute bit of effort

Did you know this about CHASE Credit cards?

It%26#039;s too long. I didn%26#039;t read the whole thing. However, there is no policy indicates that they can%26#039;t give you the pay off amount. That%26#039;s bull. What idiot did you talk to?.

Here is how to calculate the pay off amount.

Take the APR, divide it by 365 days, time .01, time 30days. time the amount you currently owe. That will give you the interest for the month. Add the amount you owe with the interest you just calculate, voila, that%26#039;s the total amount that you owe.

Ex: Your currently APR is 9.99 and you owe 5325.99

9.99/365x.01x30x5329.99 = 43.76 (interest)

43.76+ 5329.99= 5373.75 (your payoff amount in 30days)

Close the account if that%26#039;s too much trouble for them to give you a payoff amount. Tell them that they are a bunch of morons who came up with a stupid excuse thinking that you have to leave the account open. There are plenty of other credit card companies you can deal with. THERE IS NO SUCH THING AS THIS IS A POLICY. it%26#039;s an easy way out for that moron who can%26#039;t calculate the pay off amount.

Did you know this about CHASE Credit cards?

I am sorry for your dilemma. But terminating the account can lower your credit rating by reducing the ammount of open account and available credit.. witch are big factors in your score. I hope people read this before applying for the card. OR you end up in a big mess that only hurts you, not them.

Did you know this about CHASE Credit cards?

Phoenix is correct. You must be a moron to believe that is a policy.