Chase Health Advanceunfair interest added to beginning of contract

Review updated:

Used Chase Health Advance to finance $20, 000 dental work on a promotional no interest plan for 18 months. Set up automatic payments using bill pay through my bank account. One payment did not get made by the bank on time so I received a notice that the payment was late and a $39.00 late fee had been added to the loan. I had been making more than the required minimum payment each month so immediately made a double (larger than minimum) payment on the account.See Top 10 Worst Companies in Salt Lake City, UTAs soon as the payment was posted I received a letter termining the no interest promotional plan because I had paid one payment late. The new interest rate would be 24.75% figured back to the date of the original loan. I immediately paid off the account but it cost me $1, 900 for one late payment. The company conveniently has NO OPTION for automatic withdrawals from your bank account or online payments of any kind. The entire financing program is designed to trick people into payment interest rates in excess of 24%. Do not use Chase Health Advance for any medical financing and tell anyone you know considering them as a financing source that they are a very expensive SCAM.

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  • St
      Jul 27, 2009

    ### just got me for $800 for 3 day late payment.
    is this legal what happens if i don't pay

    +1 Votes
  • Dm
      Aug 11, 2009

    I received a call conveniently after the payment due date to ask me why I have not made a payment? When I stated that I had, the rep went on to inform me that the payment was return Insufficient funds. When I explained that could not be I received a confirmation, she then explained that there has been a lot of people that have keyed in the incorrect routining or account numbers and this might be the case. When I asked why I wasn't contacted sooner, she had no answer. Now they want to stick me with a $39 late fee, and a $29 return fee. I then asked well which is it? Is it a Insufficient funds or error in the system? The Rep stated she did not know! So you want me pay a fees but can't prove to me that it was my error. Did we bail this company out? I have not had one good experience with this company.

    +1 Votes
  • Fr
      Aug 30, 2009

    Every "zero intrest fo X months" works in that manner. You have to be sure that you pay them on time and 5 days early. Its never a bad idea to be just one payment ahead. If you are in the position to make double payments then you need to mail them in seperate envelopes. This way you are definately not going to be one or two days late, you will instead be thirty days early. Problem solved. If you are not in the position to make more then the minimum payment stay away from these plans. They are structured to have a remaining balance at the end of the cycle. How do you think they make their money when they loan it out for free. Bill pay is the smartest way to mail out bill with these companies. Leaves a paper trail that cant be argued with. Just send them out sooner. Chris N

    0 Votes
  • An
      Sep 23, 2009

    In reference to Anna88 (09/23/09) please file complaints against Chase Health Advance with:

    Office of the Comptroller of the Currency
    Customer Assistance Group
    1301 McKinney Street, Suite 3450
    Houston, TX [protected]
    [protected] (Fax)

    0 Votes
  • Fo
      Jul 22, 2010

    I am also having bad experiences with this company. I was late on payments due to unforeseen circumstances. I made a check by phone where they charged me an NSF fee but never attempted to take the money from the account as I would have seen the attempt on my bank statement. They charged me a $45 late fee that I had to talk until I was blue in the face for them to understand the situation and take it off. I still don't have written confirmation that they took the charge off. They claimed that they added an extra zero when transcribing my account number but based on the previous testimony, I'm wondering if they had the right information all along.

    Part 2 of this testimonial is that I had organized a work-out plan where I made the payment and paid the amount that I needed to be current...according to the last rep. What they didn't tell me is that this "work-out" plan had to be approved. They claim that it took over a month to do so and therefore didn't deem my agreed payment as being a full payment. Thus, they charged me a late fee even though I paid on time as agreed.

    It seems that this company is all about the fees. I also believe that this company employs tactics that are unethical in order to obtain as many fees as they can. Their reps are not interested in listening. They talk over you when you try to explain the situation and don't acknowledge that you've said anything when it doesn't favor their position.

    +1 Votes
  • 1s
      Nov 22, 2010

    I also got snookered here with faulty language. They state on their documentation that the 'promotional period' ends on (in my case) 11.4.10 and on the same document state a 'due date'(my regular monthly payment date). Now I'm a reasonable person and when I see 'due date' and 'promotional period end date' guess when I think the payment is due? Long story short I paid the entire load off by the 'due date' and a full 11 days after my loan was paid in full I receive a statement saying I owe the back interest. This is compete BS and calling is a joke, they are rude and offensive. I have just complained to the BBB but I bet nothing comes of it because they are accredited with the BBB and that just means they paid the BBBs extortion fee's for the A+ rating.

    0 Votes
  • Lr
      Jul 06, 2011

    I am having similiar problems. This company inconvienently does not have automatic payments - you have to use your bank payment option or go in every month and schedule the payment. I had one similiar problem where I was on vacation and my payment didn't go through. I called and payed immediately and also paid the late fee, thinking I wouldn't have to deal with it later. Well the late fee didn't post until the next month and my payment did not count towards it. Since the date on my paper statement was one date later than the phonecall I made, I assumed (incorrectly) that the system hadn't caught up yet. Long story short, this misunderstanding snowballed and I was charged more fees. I called several times to try to sort the situation out and received no help. They refused to refund any fees and I just ended up paying the balance so I didn't have to deal with them anymore. Poor costumer service! I won't use them again, that's for sure.

    0 Votes

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