Complaint Review: Chase Credit Cards

In January 2009, Chase Credit Card sent me balance transfer checks so I could use my credit limit of up to $12,500 at a fixed rate of 7.99% until balance paid off. I have a spotless credit history and have been a good customer of chase for at least 10 years. At the time the account had a $0 balance. and I had not used the account since January 2006. On the checks, a note was indicated that as long as the check cleared by 2/28/2009, I would get the 7.99% fixed rate. This attractive offer made me write two checks to pay off higher interest rate cards in early February 2009. (1) $9,000 to Discover (2) $1,100 to Banana Republic.

On February 17th, I received an odd folded post card (that appeared like junk mail) from Chase Cardmember Services with a note that the first check "was declined because of a closed account. In accordance with you Cardmember Agreement, your account may be charged a fee for the declined check." Sure enough, when I called Chase, a $39 fee had been assessed on my closed account. Imagine that. A fee added to a closed account. I first spoke with 2 customer service representatives who refused to offer help and hung up on me. On the 3rd attempt, the representative kept telling me that he couldn't refund the fee. I started demanding action. Finally, he connected me to a supervisor who said he will refund the fee over the next few days on my account. Still 3 problems : 2nd check has not yet declined which will likely post a fee, Discover card will probably assess a fee, and Banana Republic will assess a fee.

Obviously, the problem will likely become demanding refunds for 4 fees assessed because of Chase's fraudulent practices. This is thievery. Given that banks have been bailed out with tax payer funds, this has got to stop!! We need serious law changes on how credit card companies operate and more regulation to protect the consumer.

I have ready other scary complaints on here about Chase trying to change interest rates on low interest rates that were supposed to be "fixed until paid off" which I have quite a bit of balance at these rates and have maintained perfect payment histories religiously.

If you experience problems, please report them as well so we can leverage the ploy of average Americans and take charge of these nasty banking practices, particularly in the current economic situation.

Steve
Arlington, Virginia
U.S.A.