Chase Credit Card / inflated transaction fee
I have some revolving debt that I will occasionally transfer to another card it the terms are good. I look for a low interest rate (0%-1%) and a promotional period of at least 6 months. And, most importantly, a low cap on the transaction fee.
This offer comes in on my wife's Chase (Amazon) card for 0.99% for 7 months with a maximum transaction fee of $75. Not bad, so we went ahead and transferred $10, 000. I call Chase a week later to check on the transfer and the balance amount was $10, 300 and not the $10, 075 like I was expecting. $225 more!!! What the hell?
So I call chase and talk to a rep and tell her what is up. She tells me the maximum transaction fee on that offer is $900. I told her, "No it isn't. It says right here it is $75 dollars". Well strangely, she immediately connects me with her supervisor, and I tell this new lady the situation. She says, "No problem, I can take care of that for you". This leads me to believe that this happens all the time, and that they are happy to "fix" the problem for anyone who catches it.
So I started thinking, if no one complains about stuff like this, then they can just get away with anything. So I googled "Chase fee scam" and Boom, got tons of results, one that led me to this site. It seems they have been doing a bunch of fraudulent things.
I hope sites like this will eventually deter big corporations from exploiting good folks and taking their money away. How many millions does anyone need anyway?
- Paul G.
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