Consumer complaint received 2018-03-03
Company: JPMORGAN CHASE & CO.
State: IL
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Fees or interest
Sub-issue: Charged too much interest

Complaint:
On XXXX, I requested a cash advance on my XXXX account which was processed and approved ( identified in provided statement copies as # 4 ) On XXXX, I received electronic notice my XXXX bill was due.There was a {$50.00} fee for the cash advance, no interest accrued for the cash advance ( # 5 ), and the total amount due for the month was {$1900.00}. Additionally, there was two ( 2 ) disputed charges from the XXXX statement that were under investigation. I was advised to subtract that amount from the total due ( # 2 {$75.00} ). On the payment due date, I made a payment of {$1900.00} ( # 8 on copies ). My previous statement balance was paid in full and on time {$330.00} ( # 1 and # 3 ). Additionally, I mad two additional payments after paying the statement balance for {$270.00} on 1/29 and {$400.00} on 1/30. For the January statement, I made a total of {$2500.00}.

On 2/17, I received notification of payment required for the XXXX statement. I did not look as the statement, I just made arrangements to pay the full statement balance on the due date. I paid {$340.00} on XX/XX/XXXX. which reflected an on-time payment for the entire statement balance. However, after reviewing the XXXX statement, there was an interest charge of {$12.00} for a cash advance amount of {$580.00} ( # 9 ). 
, On XX/XX/XXXX, I was reviewing my XXXX credit card statement and realized there was an interest charge for {$12.00} for a cash advance, I called the Chase customer service. The representative advised me I was charged the interest amount for two ( 2 ) reasons. First, I did not make the full payment for the XXXX statement and because cash advance interest begins accruing on the day you are issued the cash. I asked to speak with a supervisor, who echoed the same narrative. I became irate and requested my account be closed and proceeded to a branch to close my checking account as well. After being advised my annual fee for the card would not be prorated for the months I would not used after cancelling the card, I am going to keep the account until XXXX when it is up for renewal again. Here are my issues with Chase and their deceptive practices : 1. Contrary to wait the three Chase representatives suggested, I paid the XXXX balance in full. I made a payment of {$1900.00} on XX/XX/XXXX and I was advised NOT to pay the amount from XXXX under dispute ( # 7 on copies {$75.00} ). The two amounts combined are {$1900.00}.

2. When I asked why the cash advance amount subjected to interest was only {$580.00} vs the {$1000.00} advance I requested, it was stated the interest begins accruing on the day you receive the advance. If this is the case, why was I not charge ANY interest in the statement month associated with the advance? All of my charges for the month of XXXX were payable in XXXX and I not only paid them in full, two additional payments also posted that month prior to the statement closing date. 

Chase 's business practices are unethical and their explanation makes no sense. I have have this account since XX/XX/XXXX and every month since the balance is paid in full. If I carried a balance, I would understand the need to pay interest on that amount. Quite frankly, I would understand this scenario better if the amount I was charged interest on was {$1000.00} and not {$580.00}.

Company response to consumer: Closed with explanation