Consumer complaint received 2023-11-10
Company: JPMORGAN CHASE & CO.
State: TX
Product: Credit card
Sub-product: General-purpose credit card or charge card
Issue: Advertising and marketing, including promotional offers
Sub-issue: Didn't receive advertised or promotional terms

Complaint:
I have an Amazon Chase credit card which I use regularly to make purchases and always make payments towards the interest saving balance. I received a promotional balance transfer offer for up to {$15000.00} that said 1.99 % APR till XX/XX/2024 ( and then the normal card interest rate of 24 % ) on a balance transfer ( credited to my Chase checking account ). I called Chase and asked them specifically how this balance transfer would affect my other purchases that I was making using the card. I asked specifically if I could keep using the remaining money on my credit card to make purchases ( after availing the balance transfer amount ) and if the balance transfer would in any way affect purchases. I was told clearly that the balance transfer and purchases with the credit card would be treated separately and the balance transfer would not affect the purchases. That is why I went ahead and availed the balance transfer. I also kept using the remaining available money on my credit card to make purchases as usual. 

Then when I got my next statement, I saw that the interest saving balance included the full balance transfer amount. I was shocked that they were expecting me to pay off the entire XXXX in a month 's time when they had actually given me until XX/XX/2024 to pay it off. at the promotional rate. I called Chase again and explained what had happened earlier and asked what was the amount that I actually needed to pay to make sure I wasn't paying the 24 % interest rate on the card. The customer care exec said if I made the minimum payment on the card then I should not have to pay interest. I wasn't really convinced with this answer and sent a secure message to Chase to confirm. I again explained everything from the start and asked them to clarify the amount I needed to pay to avoid interest ( apart from the 1.99 % on the balance transfer amount ). Now the Chase rep told me that all purchases I make after the balance transfer will accrue the 24 % interest rate. I explained to her that I had specifically asked about this before I took the balance transfer offer and that I was told my purchases will not be affected by the balance transfer. I said I am ready to pay off the new purchases that will accrue interest but I am not ready to keep paying interest. I asked them for a resolution to this since this was a clear case of financial misguidance. They gave me incorrect information, not once but twice, and now they are expecting me to keep paying all this interest because their reps are not adequately trained and don't know what they are talking about! I said if this is not resoled asap I will take this up with the CFPB. After that they stopped communicating with me. I wrote to them several times for a resolution and absolutely no response after that. 

They have repeatedly given me wrong/insufficient information about their financial product and now they are charging me unfairly. I would request the CFPB to please take this up with J P Morgan Chase and get me a resolution so I am not unfairly charged.

Company response to consumer: Closed with monetary relief