Consumer complaint received 2025-11-11 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Fees or interest — Charged too much interest
Company: JPMORGAN CHASE & CO.
State: PA

Complaint narrative:
Earlier this year, I lost my job and sought to enter into financial hardship plans with my credit card companies. I easily entered into payment plans with XXXX and XXXX XXXX where I had a reduced monthly payment based on my current ability to pay and expected duration of hardship, along with a reduced interest rate of 9.99 %. I called Chase to do the same after entering into the program with XXXX. The customer service representative asked me all the same questions : what is the nature of your hardship, how long do you expect the situation to last, and what amount do you believe you can pay right now as a monthly minimum. The customer service representative established a payment plan where {$200.00} would be withdrawn, monthly, from my account. The customer service representative assured me that once I finished the past due amount of $ XXXX dollars, I would have all fees and interest charged to the card reversed. I would continue on with that payment plan and my account would remain frozen. This plan was, purportedly, to allow me to catch up on my past due payment and not drown in interest or fees. However, I have received a statement from Chase, despite being enrolled in a program where I automatically have {$200.00} withdrawn from my account monthly, that I have a current due amount of {$1700.00} and my account is 73 days past due. That my interest was not frozen or reduced, like XXXX or XXXX, and that I had not enrolled in a payment plan based on hardship but rather a " unique program '' where I would make payments based on the past due amount but would still be charged interest and late fees in full. This does not make sense whatsoever. A consumer is calling to enter into a financial hardship arrangement, is induced into agreeing to automatic payments with promises that there would not be fees assessed, that the program is to help them get through that hardship, only to find out that XXXX months into the automatic payments they reportedly owe {$1800.00} based on interest and fees they could not afford before, at the rate as before. 

This is an act of misrepresentation by Chase to induce customers into believing they have, similar to other large financial institutions, entered into a financial hardship payment when in reality, the bank plans on keeping the interest rate the same, assessing late fees the same, and spiraling the customer into further debt. 

I have called chase twice now to resolve this issue with managers identifying with ID numbers XXXX and XXXX. I have requested the transcript of my call with the customer service representative in XXXX and was denied that information absent a subpoena. And, during my latest call on XX/XX/XXXX, the representative revealed to me that Chase does not have a verbatim transcript as would be used in court. Rather, they have a summary of the call that " reports '' what was discussed between parties, and -- despite this incomplete record -- admitted that the representative did promise a reversal of all fees.

Company response to consumer: Closed with explanation