Consumer complaint received 2021-12-10
Company: JPMORGAN CHASE & CO.
State: WA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Fees or interest
Sub-issue: Problem with fees

Complaint:
Hello, My Name is XXXX XXXX. Im writing to share my recent experience with Chase Bank, where Ive been a member for XXXX years. I am appalled by how Chase has treated and, I feel, misled me. And I want to at least make sure this behavior is known. 

My usage of Chase services has always been basic and straight-forward. I have a checking account and credit card. I auto-pay the credit card balances each month from my checking account. I had a standard auto loan, also auto-paid monthly. 

In XXXX XXXX I received a promotional mailing from Chase, offering the opportunity of a Balance Transfer with a 0 % APR rate through XX/XX/XXXX, along with XXXX live checks. Chase advertised this offer as an opportunity to pay off other debts, get cash in advance, or make a large purchase. I was unaware of what is a Balance Transfer until I received the mailing though Ive researched since then and it seems Chase was offering use cases for the loan beyond a traditional balance transfer ( aka paying off one credit card with another, to my understanding ). 

Being unaware of what is a Balance Transfer or how to use, I called Chase Customer Service, and was informed that in order to use, I will need to submit a Balance Transfer request from my credit card to transfer to my checking account. Then, once that money is in my checking account, I should use XXXX of the checks from the promotional mailing to make my intended large purchase. 

A few days later after following these steps, I discovered that XXXX Balance Transfers were executed, note XXXX as I intended and expected. XXXX Balance Transfer ( and associated 3 % transfer fee ) occurred when moving funds from my credit card to my checking account. The second Balance Transfer ( and associated 3 % transfer fee ) occurred when the merchant for my large purchase cashed the check. This is not what I wanted, intended, nor expected and this happened because of incorrect direction provided to me by Chase. 

I immediately called Chase customer service and expressed my desire to return the funds but also have the duplicate fee ( {$240.00} ) refunded to me, given this occurred due to misinformation provided by Chase. I was simply told balance transfer fees are nonrefundable. I tried calling multiple times, speaking with supervisors, etc. and it became clear that not one representative had any intent to acknowledge or correct their mistake. At one point, after much fighting, I had a supervisor tell me hes escalated my dispute and as all customer service calls are recorded, a team will review the call log of what was communicated to me and share their findings within 14 days. 

This was over a month ago. Ive tried contacting Chase ( via phone and site messenger ) multiple times to inquire and get a straight-forward response to this inquiry. I continue to receive canned responses that circumvent my question. 

Furthermore I separately contacted Chase to inquire about what payments will need to be made on my card to avoid interest payments. Ahead of my XXXX statement balance, I was told if I make the minimum payment due and on top of that, make another payment that covers purchases for the existing statement, I will not get charged interest. Or said another way, the only recognized balance remaining on the card will be the 0 % APR promotional Balance Transfer. I triple-confirmed with this representative, and they told me I can call back once my XXXX statement is available if interest and non-interest balances do not reflect what she communicated. 

Of course, a few days later I see an interest charge on my account. And once my XXXX statement is published I see there is still a balance that Chase is recognizing as eligible for interest charges. I am perplexed because at that time my full card balance is > {$2000.00} lower than the Balance Transfer amount. Said another way, Im under the impression Ive paid off all purchases and in addition, some of the Balance Transfer amount. 

I once again call Chase and am told because there was a balance on the card at the time of the Balance Transfer activity, that existing balance was not paid off and will continue to exist ( and accrue interest! ) until the entirety of the credit card balance ( both non-interest eligible aka balance transfer AND interest eligible ) is paid off. Furthermore, they can not or will not explain to me how my payments are applied to each balance. This looks to me as an incredibly deceptive way to indirectly lock-in interest charges. A promotional 0 % APR was communicated to me. However, that balance was mixed in with an existing balance from other purchases effectively creating a pool of funds that generate interest charges. 

I dont see how anyone can read this and come away thinking Chase had behaved in good faith or been honest and transparent about their business practices. They have taken {$240.00} from me due to the duplicate balance transfer, and now I am being charged interest on balance ( ~ $ XXXX ) that I can not fully pay off today ( that is the entire point of utilizing a 0 % APR offer! ) Of course, Im in the process of closing all of my Chase accounts. Beyond that, however, Im concerned there are many customers having similar experiences that are best case misleading, worst case intentionally deceptive, and do not have the time or energy or knowledge to challenge. 

I am hopeful this letter makes its way to someone who is inspired to take action. And I can make myself available to provide additional detail or documentation as needed. 

Sincerely, XXXX XXXX XXXX XXXX

Company response to consumer: Closed with monetary relief