- Report: #484122
Complaint Review: Chase - JP Morgan Chase JP Morgan Chase Bankcard Services - Wilmington Delaware
Reported By:
insightray -
Quakertown, Pennsylvania, USA
Submitted:
Updated:
-
Author Not Confirmed
Why?
Chase - JP Morgan Chase JP Morgan Chase Bankcard Services
Box 15153 Wilmington, 19886 Delaware, United States of America
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Chase - JP Morgan Chase, JP Morgan, Chase Bankcard Services J.P. Morgan Chase Deceptive balance transfer offer Quakertown, Pennsylvania
Chase has apparently made a practice out of deception from the reviews I have read here. I have had a Chase card for over 15 years and the payment date has changed a few times which did not concern me as I have always checked my statements every month to be on guard for this practice.
Six months ago i was offered a 4.9% balance transfer offer and after calling them to verify all of the details I accepted this offer in order to pay off another outstanding loan to lower my monthly payment to free up some cash since like so many others in our current environment my hours have been cut at my employment. Imagine my surprise last month when my minimum payment went from $192.00 to $474.00.
I suspect Chase is hoping that many folks will not be able to meet this new payment amount so many new fees can be imposed, such as late fees, higher interest rate for not meeting minimum payment and probably some others that they will find. I will be able to meet this new amount but I feel this has all of the characteristics of bait and switch.
If I was aware of their plans , I would not have accepted this offer. My plan is to pay this account off and close it once that is done. Incredible that a bank can raise a minimum payment amount by 250% without violating any statues. At the very least this is an egregious violation of ethical behavior!!
