Chase Credit Card Company = Fraud

Here’s the letter I just sent off to the Oregon Dept of Justice. We’ll see if they can help me out.

December 11, 2009

To Whom it May Concern,

Earlier this year, I received notification from Chase (credit card company). This notice told me that by my July statement, “some” accounts would have increased interest rates on their existing balances. Since I had a low interest rate of 6.99%, and had been a constant customer in good standing since 2001, I assumed that my account was not in danger. After all, I enjoy an excellent credit rating and have for a long time.

In July, my interest rate went from 6.99% to 14.24%. I approached my husband to transfer my Chase balance to one of his credit cards. He contacted his credit card company (MBNA). They attempted the transfer. I was not until August’s bill that I saw no funds were transferred.

I talked again to my husband on the very day I received the September bill. I stayed with him on the phone to MBNA until confirmation of transfer. Apparently, Chase was very difficult for them to work with, but all companies knew my intent to close the account. I even got a letter from Chase almost two weeks later that my account was closed.

The November bill arrived as usual. However, instead of a $0 balance, I saw there was an interest charge of approximately $79! This was after a “paid in full” transaction between the two companies. I called the number on the back of the bill, and asked for a supervisor. (I had previously had a conversation with a regular bill handler, and her supervisor. That supervisor was very rude.) This person was also not very helpful, though she was not as rude. She explained to me that Chase charges interest but does not show it on the statement; it’s accrued in a delayed monthly manner. I told her I’d had credit cards for almost 30 years and had never seen that practice before.

In further conversation, I asked her how I could finalize my closed account: She assured me that if I gave her an electronic check at that time, the account would be “Paid in Full” with no accrued interest in addition, and that I would be done with Chase, as I desired. I asked why it hadn’t been paid up when I originally did the first Paid in Full. She directed my attention to the “your account is closed” letter. In it, there is wording that says, and I paraphrase, that my account, though closed, may still have interest or fees added.

I asked her again “If I pay you today, I will NOT get any more bills; is that correct?” She said “yes”. I got my checkbook out and gave her my information. I also told her that this payment was considered paid under duress, that I did NOT think I owed the funds, since this was my THIRD attempt to close and pay this account.

She told me she’d send me a letter saying the account was paid in full.

Sure enough, about two weeks later, I received that same form letter as before. NO “paid in full”, only that my account was closed and could incur more fees, etc.

Now, it’s December, and yes, I have another bill; this time for $1.50. However, my percentage APR is now 194.59%. Yes, that is the correct number. And it came the Wednesday before Thanksgiving, giving them a nice long weekend in which I could not respond and they could accrue even more money.

Last week, I tried to call the customer phone number 1-800-945-2000 that is listed on the bill statement. This is the same number I called last month when I talked to the second supervisor. There is now a $9.95 charge to call this number. I also tried the Customer pay by phone number, 1-800-436-7958. Again, there is now a $9.95 fee to use this service. (I have not received any notification of this fee by mail. I was quite surprised. No credit card company that I know of charges for these services.) Also, there was no notice of this new charge in the fine print on the back of the bill.

With the new percentage of 194.59%, accrued daily, from only Chase knows what date, my $1.50 leftover balance amounts to $1.9459 for the first day, $2.91885 for the second, $5.8377 for the third day, ad infinitum.

At this point, I think Chase has seen me as quite the source of income. I don’t know how to stop them.

Last night, I got on the Internet, and found many others experiencing the same thing I am. One lady has ~exactly the same problems I’m having. It has not stopped for her. She even contacted her State Attorney General. Chase is still bothering her for payment.

What will it take for me (all of us consumers) to close our accounts? I’ve never had this kind of problems with a credit card company!

Please advise me. Thank you.

NB. This is a condensed version of the events.

for information on how others are being treated, go to:

http://www.consumeraffairs.com/credit_cards/chase_credit_cards.html

and yes, this is all very recent!!

Tags: Chase fraud credit card charges problems