- Report: #143297
Complaint Review: Chase Manhattan Bank - Wilmington Delaware
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Author Confirmed
Why?
Chase Manhattan Bank
P.O. Box 15299 Wilmington, 19850 Delaware, U.S.A.
Phone:
877-717-7669
Web:
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Chase Manhattan Bank Chase Consumer Protest ripoff Wilmington Delaware
It is time to pull together and protest as consumers. How do credit card companies make money? Charging interest. If the balance is paid in full each month, they will not make money from us.
For those of you who were able to pay off your high interest rate balances, Do Not Close Your Account! Take action and protest!
Each month, we should purchase a small snack. For example, a pack of gum, a candybar, a small bag of chips. Try to make the total purchase price under $1.00. Please be sure to use your Chase card! (and make sure to pay your bill on time!)
Don't forget, Chase must use paper and ink to send out statements, they must pay for postage, they must pay an employee to post payments (no matter how small they are). If we all pull together, we can literally charge Chase for having us as customers!
So, instead of closing your accounts in protest, lets fight fire with fire, and enjoy a little snack while we do it!
Jenifer
escondido, California
U.S.A.
For those of you who were able to pay off your high interest rate balances, Do Not Close Your Account! Take action and protest!
Each month, we should purchase a small snack. For example, a pack of gum, a candybar, a small bag of chips. Try to make the total purchase price under $1.00. Please be sure to use your Chase card! (and make sure to pay your bill on time!)
Don't forget, Chase must use paper and ink to send out statements, they must pay for postage, they must pay an employee to post payments (no matter how small they are). If we all pull together, we can literally charge Chase for having us as customers!
So, instead of closing your accounts in protest, lets fight fire with fire, and enjoy a little snack while we do it!
Jenifer
escondido, California
U.S.A.
3 Updates & Rebuttals
Jenifer
escondido,California,
U.S.A.
Protest could work/You have wrong information
#2Author of original report
Thu, May 19, 2005
It is a sad day when consumers don't realize they have power to force change. Don't be so willing to accept defeat. Visa and Mastercard regulations prohibits minimum charge amounts. Not only that, listed below are the states in which credit card surcharges are illegal: California, Colorado, Conneticut, Florida, Kansas, Maine, Massachussetts, New York, Oklahoma, Texas. So, go to Ralph's, Albertson's, whatever grocer, and purchase a candybar, it is illegal to deny this purchase with a credit card. For crying out loud, let's stand up and fight.
Dave
Jacksonville,Florida,
U.S.A.
Nice Try Jennifer I commend your efforts
#3Consumer Comment
Thu, May 19, 2005
Even though I commend your efforts, and kinda understand what you are trying to do, it won't work... Most places have a $5 - $10 minimum on credit card purchases. So, a pack of gum won't do it.
Mike
Radford,Virginia,
U.S.A.
So far, I like Chase.
#4Consumer Suggestion
Thu, May 19, 2005
Really they're no different than any of the others. If you run up a credit card debt that you can't repay quickly, they will "jack" the APR and make sure you'll never repay it. The only way to win is not to play. Only very rarely should one consider running a balance on a credit card, and then only for a month or two. Credit cards are not "extra money" they are strictly convenience items. If you must borrow money for a longer term, use a conventional loan, where the APR and other terms are fixed. If you always pay in full, you are still spending borrowed money, but not paying any interest on it. Credit card companies call that "freeloading." Several of the Chase cards (and other companies as well of course) have a cash back feature. This brings freeloading to a new level, now they're paying you. I charged a $3000 used car, paid it off right away out of savings and got $30 credit on next month's statement. I should have let the money sit in savings and earn interest up until just before the Chase bill was due, that would have made me another $5.00 or so in interest. Bottom line is the car cost me less than it would have by writing the dealer a check. Actually the dealer, not Chase, was paying for my savings(*). It doesn't matter to me. If you do the snack deal, be careful where you buy it. Should you charge a $0.69 snack at a mom-and-pop store, the store will be lucky to net $0.40 after bank fees. At the least Mom or Pop is going to glare at you. Some banks, I don't know if Chase is one of them, won't send a statement at all if the balance is less than $1.00. They will just zero it out since it would cost more to mail a statement and collect the payment. (*) When you do this, don't tell the dealer you're going to be using a credit card. Negotiate a "cash" price. At the last minute hand them your card. Watch the finance manager's smile fade as he thinks of the bank fees. They have to take it though.
