Consumer complaint received 2019-09-17
Company: JPMORGAN CHASE & CO.
State: PA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Problem when making payments
Sub-issue: Problem during payment process

Complaint:
Regarding XXXX Chase VISA, I have concerns that they are not complying with Credit Card Act 2009 for payment allocation and readability of balances. 
1. They do not clearly show the amount left for promotional balances on monthly statements. Rather they show the daily balance rate. Which is not the same. In order to get your current balance on promo offers, a consumer must call in to an automated system to hear the current promo balance. Then when I question on payment allocation they ask me where Im getting the promo balance info from, I tell them from the automated system because my statements arent clear. They say, well we show you your daily balance rate on your statement. Yes, well that tells me nothing of value when I'm trying to determine what is subject to standard APR vs. 0 % promo for making payments. 
2. Payment allocations : I have called in numerous times since XX/XX/XXXX statement complaining about how my payments are allocated. 
3. I continue to receive inconsistent answers/responses to my payment allocation concerns/complaints. 

Per Credit Card Act XXXX, payments above the minimum are to be allocated to highest balance first, except when the promo is ending within next 2 billing cycles. 

XXXX Chase Visa has been allocating my payments and merchandise credit which were above my minimum payment incorrectly since at least the statement dated XX/XX/XXXX. 

The most current promo balances ( 0 % APR ) werent due to expire until XX/XX/XXXX and XX/XX/XXXX of next year ( XXXX ). My standard purchase APR is 17.99 %, subject to a daily balance interest rate. 

Examples of responses CSR and supervisors have given me when calling : The one correct response Ive received ( but I dont have CSR name written down- might have been XXXX ) on XXXX around XXXX : anything made over minimum is applied to standard purchases as long as the transaction is posted to the account I was calling Chase in regards to a refund I received from a surgeon for over {$2000.00}. At that time I had standard purchases over $ XXXX. I asked how the credit would be allocated and the CSR said the above statement and that she couldnt see how it would be allocated since the statement wasnt closing until XX/XX/XXXX but that I could call back if it hadnt been allocated appropriately. 

It wasnt allocated appropriately so I called numerous times. 

Other varied responses : Merchandise credits go towards previous statements, not current activity-regardless if they have posted to your account called in XXXX @ XXXX spoke with XXXX about my concerns over how XXXX XXXX XXXX XXXX erroneously charged my Chase XXXX XXXX {$4100.00} on XX/XX/XXXX ( posted XX/XX/XXXX ) and then it was refunded ( the exact amount of {$4100.00} ) on XX/XX/XXXX ( posted XXXX ). Chase allocated the credit mainly to my promo balances, cancelling the XX/XX/XXXX promo and all but {$400.00} of the XX/XX/XXXX promo. She said she understood my concerns and agree, so they are going to apply the refund from the XXXX XXXX directly to the XXXX XXXX charge. But it would take 7-10 days and response of resolution would come in the postal mail. She quoted the following info from XX/XX/XXXX statement : {$4500.00} was total statement balance {$2400.00} balance of promo rate at 0 % {$2000.00} balance of purchases subject to standard APR ( Promotional balances breakdown : {$1700.00} expiring XX/XX/XXXX {$700.00} expiring XX/XX/XXXX ) I didnt receive anything in mail over the weekend so on XX/XX/XXXX called, spoke w XXXX about above matters, was told Still pending a decision. I told them I needed information so that I could appropriately make a payment by the due date XX/XX/XXXX. I was escalated to a supervisor named XXXX who told me, any credit to the account above the minimum payment will go to highest APR on your prior billing statement. She said the credit helped me because it cancelled out the standard purchase balance on prior statement. 
I said but then instead of applying it to charges that posted to the account ( subject to higher APR ) it got applied to the promo balance. She said payments in acccess of minimum don't get applied to current activity and essentially I have to wait for my new statement to come out before I make any payments to balances subject to standard APR. 

Didnt receive a letter in the mail today ( XX/XX/XXXX ) so I called again, spoke with XXXX and he escalated to supervisor, XXXX who stated the XXXX XXXX refund was allocated appropriately. I asked him how it was allocated appropriately if I now have {$5500.00} subject to standard purchase APR and only {$400.00} balance to 0 % promo when according to XX/XX/XXXX STATEMENT : {$4500.00} was total statement balance {$2400.00} promo rate at 0 % {$2000.00} purchases subject to standard APR ( Promotional balances breakdown : {$1700.00} expiring XX/XX/XXXX {$700.00} expiring XX/XX/XXXX ) AND between XX/XX/XXXX and XXXX there were {$5200.00} in standard APR purchases ( including the {$4100.00} error charge ). 

XXXX stated, credit/payments above the minimum go to the oldest balance on your statement first ... so they were allocated appropriately since the promo balances were oldest. I quoted to him the terms outlined on Chase monthly statement ... we apply payments in excess of your minimum payment first to higher rate balances '' along w the responses from other CSR and the Credit Card Act 2009. He laughed at me. I ignored it and said my highest rate balances are on standard purchases ( 17.99 % APR ) so why wasnt the credit applied soley to standard purchases? He said because they apply payments to prior billing cycle first so because of that the promo got reduced to {$400.00}. I said but the promo wasnt expiring until XXXX XXXX and I had balances subject to XXXX XXXX  APR which already posted to the account ( which I accrue interest on a daily basis ). ALSO, the charge wasnt on the XX/XX/XXXX statement, it occured after and I was charged erroneously by XXXX XXXX to begin with so why am I being penalized for their error. I said the credit should post to the original transaction. He said, " no, credits and payments that are made before statement closing are applied to prior billing statement balance- per the Credit Card Act ''. I told him I knew the Credit Card Act well and that they should NOT be applying the credits/payments above the minimum to my promo balances unless they were expiring within 2 billing cycles which they are not expiring until XXXX XXXX. Since we were talking in circles I asked to speak to his superior- he first said I was already talking to a supervisor. I repeated, I wanted to talk to someone above him. He put me on hold and said he could get me a manager but the answer wouldnt change. I said I still wanted to talk to  HIS supervisor. He put me on hold, came back and said they were busy. I told him thats fine, I would be filing a complaint with CFPB and I ended the call.

Company response to consumer: Closed with explanation