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Chase Credit Card / what does it take to pay off my card

United States Review updated:
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On July 11, 2008 I called Chase and asked how much I needed to pay my card off, and close my account since I was getting charged almost 29%. After paying over $8, 600.00, the amount I was told by the customer service rep. to pay, I received another bill for $28.00 a month later for interest! I was told if I did not pay it would accumulate late fees and eventually go against my credit. What do I do! I feel I cannot combat this, and have no alternative but to pay the fee. This is not right?
Va
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Br
  5th of Sep, 2008
Agree Disagree 0 Votes
This is completely correct and valid interest. You need to be a informed consumer about your card and read the thing you received called a "Card Member Agreement" that was sent with your card.

A credit card that is accruing interest will NEVER be able to give you an exact payoff amount, because the amount of the balance is going to accrue interest on the load daily up until the act is at zero. You made the final payment probably in the middle of the current cycle and carried the balance for a few days. You have to understand that credit cards are loans and do accrue interest on that loan at a daily rate.

My advice...the $28 dollars is interest on the loan from the date of the previous cycle date ending to the date the payment is posted to the act for the full balance. You still have the $28 owed for that time...pay it...it is valid...the agreement that I an referring to explains completely why is valid and owed. Accept it, pay it, move on...it is not worth what can happen to your credit score if you decided to just not pay it.

Be an informed consumer about how the account works...and quit blaming credit card companies like Chase for billing you for something that is owed...just because you don't understand or want to understand the explanation that is given for why the fee for $28 is billed
Cr
  9th of Sep, 2008
Agree Disagree 0 Votes
Same thing happend to me. I paid my accout off in full and the next month I got a bill for $14.57 and to make it worse I did not get the bill in the mail until the day that it was due. After spending over an hour on the phone with the service dept and managers I was told there is nothing they can do about it. I ended up paying the 14.57 plus the extra fee for it to go through that day so I would not be charged a late fee pluse more interest fees.
Kr
  24th of Sep, 2008
Agree Disagree 0 Votes
I AGREE WITH BRIAN, DONT SIGN AN AGREEMENT IF YOU DONT KNOW THE FACTS, GET EDUCATED, STOP BLAMING OTHERS. YOU GET FEES CAUSE U DONT PAY, YES YOU PAY A FEE FOR MAKING A OVER THE PHONE PAYMENT, PAY IT ONLINE ITS FREE. SIMPLE TO FIX, DONT GET A CARD IF YOU DONT KNOW WHAT UR SIGNING UP FOR!
Ge
  25th of Sep, 2008
Agree Disagree 0 Votes
Brian and Kristina
I asked what the "payy off" was from Chase's customer service person. She should have said something. It's crap and should be illegal.
Wa
  19th of Oct, 2008
Agree Disagree 0 Votes
Gene,

Ok so someone at the company made a mistake in telling you that it was a payoff. Now that you understand why you are being billed the residual interest. Why are you blaming Chase for making a mistake. Do you think just because Chase made a mistake that you do not owe it? Come on...again I have to say be an informed consumer and take responsibility.
Ju
  5th of Mar, 2009
Agree Disagree 0 Votes
I guess Chase employees are making so much money that they have time to comment on their loan shark tactics. Credit card companies have very powerfull computers (yes they need the right software too) so they should be able to state what your balance is to "pay off in full". That is what most reasonable people think when they see a balance. I bet Chase does not credit any interst charged if a customer sends in their payment early. For you Chase apologist please note they paid off $8, 600 to state that they did not want to pay what they owe ($24) simply does not add up. The way to vote is with your feet, go and close your acconts, stop using your Chase credit cards and I bet Chase would stop using "shark" tactics (or they can go crying to the US governement for more money) It seems Chase cannot or does not want to pay what they OWE!
Ch
  14th of Oct, 2009
Agree Disagree 0 Votes
Same thing happened to me! Chase is just a horrible company to deal with. I am cutting up all of my Chase cards and will never use them again. Now they are charging me a $39 late fee for an electronic payment that they chose to accept the day after the due date. This company truly deserves to go belly-up!
Zi
  28th of Mar, 2010
Agree Disagree 0 Votes
after how many months of no emails and paper letter, I receive a phone call stating I have not paid the rolling interest for months with late fees? I closed this account last Oct for sakes! Oh so we argue over the phone and I get the late fees taken off and I understand the interest so I paid the full amount of that interest off and guess what? They charged $1.98 on the same card this month! WTF

Ok. After all that conversation back n forth, we agreed this is the final payoff of rolling interest, and they have the nerve to charge $1.98. Some sort of sarcasm???

I plan on suing this company if this keeps continuing. So annoying!

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Chase Bank / JPMorgan Chase Bank Logo Chase Bank / JPMorgan Chase Bank
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270 Park Ave
New York
NY
United States - 10017
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