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Chase Bank / scam charges

1 United States Review updated:
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Chase took over Wamu and my credit card balance. With WAMU I signed up for a payment reminder so I would not forget to make my payment. This worked very well for me until Chase took over, switched the system and I did not receive a reminder. When it dawned on me I hadn't made the payment I logged on and discovered not only had I been assessed a $39 late fee, they had DOUBLED my interest to 29.99%. The late fee I would have been willing to live with, even though I don't feel this is solely my fault, and I believe that when any system is in transition, a good institution will realize that these sorts of things will happen and as a measure of goodwill, be willing to eliminate fees such as this. But seeing as how I don't make late payments on a regular basis I thought doubling the interest rate was just ridiculous. I didn't bother to argue, because I know two other people that were hit with late fees with Chase and Chase refused to reconsider, even at the expense of losing a good customer. What I did was go to my credit union and transfer my sizeable balance (which I should have done long ago) to my credit card there for 2.99%. But I will pursue the FDIC avenue I read about, because if I didn't have good credit and wasn't able to do the transfer elsewhere, I would be stuck and I know that happens to people and it's terrible. I wrote a complaint to Chase just to let them know they had lost my business (transfer was already underway) and they wrote back that they were sorry but they just couldn't reverse that fee. That's fine. My local community credit union, which manages its assets responsibly and didn't need federal bailout money, will now be earning the reasonable interest fee from me. I did find the comment amusing about how if we owe the money we should pay it and quit complaining: no one has had to bail me out. I pay my debt. I was 2 days late on a payment during a bank transition period and I got no slack.These thieving banks KNOWINGLY engaged in bad business practices, were on the verge of going bankrupt, and MY tax dollars bailed them out. Amazing.

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Comments

  • Ar
      14th of Apr, 2009
    0 Votes

    Many people have reported the fraud perpetrated by Chase Bank- charges for an unauthorized 'payment protector plan.' I persisted mightily and Chase finally refunded 5 years worth of fees.

    At the same time, I filed a complaint with the Federal Reserve - online- and the matter was turned over to the Controller of the Currency. Someone from the Executive Office of Chase called me yesterday to tell me they had been contacted by that office. Chase apologized, but did not acknowledge the fraud.

    The Controller of the Currency does not handle general consumer advocacy, so each person ripped off by Chase would have to file a complaint. This can be done at www.helpwithmybank.gov, or by calling 800-613-6743.

    If the bank's executive receives many calls about our complaints. they may get the message and cease this fraudulent practice. Do all you can. You can get results.

  • Sm
      28th of Apr, 2009
    0 Votes

    Attorney Advertising - Class Action

    My name is Sean McGrew, and I’m a Legal Assistant to attorney Dan Bryden, with the law offices of Sprenger + Lang. We are investigating a class action lawsuit of Chase Bank’s Payment Protector Plan. In the past, persons have posted on this blog regarding their issues with Chase. If you would be interested in communicating with a law firm regarding this matter, please contact me at smcgrew@sprengerlang.com. Thank you.

  • Ms
      5th of May, 2009
    0 Votes

    The exact same thing happen to me, with the exception that they dropped the last number on my account. making the payment late so that they could charge me the 29.9% interest. I am doing the same, paying off my card and going to a local bank- credit and loan. This is criminal. I think a class action suit is needed. I have never been late on this card. and would not had been if they did not drop the last number on my account, which I have with them.

    I am moving my money to a bank I can trust.

  • Wi
      30th of Jun, 2009
    0 Votes

    Virtually the same thing happened to me. It amazes me that these thieves got $25 billion of our taxpayer dollars from those clowns in Congress and now are using it to screw us. I don't know who I hate more.

  • 5i
      16th of Aug, 2009
    0 Votes

    My CD is up today and I happen to be on vacation out of the country... I have many CD's and never a problem closing them even while on vacation. Well today after 2 hours of calls and lots of people (not toll-free) I am told they could close my account and send me MY money only if I answer questions from a list of questions from the public record. Well during the call I was cut of and had to call yet again. This time I was told I was blocked from closing my account because I failed to answer the questions...even though they cut the call. I could send (not fax, like all other banks I have had in the past)a letter explaining what I wanted to do with my CD...but I had to get it notarized. I told them I was in the Netherlands on vacation and could not get it notarized. This was after going up three levels of people. Once your blocked for ANY reason you could not try again until after 7 days...and low and behold you only have a 7 day grace period after your CD matured. (most banks are 10 days) So that was not an option. In any country that is called STEALING. Isn't it strange that for the 5 year period of my CD at 4.5% the rollover is now 1%. Who in the hell are watching these crocked bankers????? I got to have it rolled over for a month and the questions they say will be unblocked by then and I can try it all again. I even want the money transferred to the bank they have sent a monthly interest check for 5 years. This was just done today, but I have a feeling this will not be done (they truly are idiots on the phone) and I will have a 5 year CD paying 1% interest. Its like your not talking to a live person...I have never seen a bank so deceitful...When this is all over I will never step foot in a WaMu/chase bank...EVER!

  • Pi
      30th of Oct, 2009
    0 Votes

    Those thieving ### have screwed me several times. I had moved to a new address just prior to them taking over Wamu. Mail forwarding brought my next statement to me later than usual, but I paid more than the minimum and did a change of address on the back of the statement.

    Then, I didn't get ANY statements for 2 months, but I DID get a letter informing me that my interest rate had been doubled! The new address that they had on file (they claimed that the last 2 statements had been returned) wasn't even close to mine, which leads me to believe that they purposely use this as a practice to scam us out of late fees and also as a method of taking good customers and screwing them by raising their rates.

    Yesterday, they started calling me at 8 a.m. and have called a total of 7 times in 24 hours. I took the 2nd call and got it straightened out (I thought). I immediately did an online payment of $100 which posted at midnight. The ### called again this morning harrassing me about my overdue payment (already made). I spoke with a supervisor who actually yelled at me saying that it's my resposibility to know when a payment is due and how much is due. I simply said, "out of sight, out of mind. how am I supposed to know what my balance is, and how am I to determine the necessary payment amount?" She blamed the Post Office and said "It's your problem."

    As soon as I can, I'll pay off the balance, wipe my ### with their card, and send it back to them. ###s.

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