Consumer complaint received 2024-07-22 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Problem with balance transfer
Company: JPMORGAN CHASE & CO.
State: IL

Complaint narrative:
On the morning of XX/XX/2024, I was searching the internet for a balance transfer credit card from a Visa Card, I had with a high balance, but a promotional interest rate from my Visa Card ( 15 % ) however, that promotion was ending soon. I had looked around for XXXX interest rates, with the lowest balance transfer fees, and longest time. I did see one online for Chase, so having one type of chase card already, I logged into my current account ending in XXXX to look at the offers for balance transfers on other cards they had at XXXX. I chose the Chase Freedom XXXX  Card. It asked for the credit card account number ( my Visa ) I wanted to do a balance transfer from, at which time, I entered that my Visa account number and a XXXX balance transfer request. I submitted the request and got an instant reply back approving me card, but no balance transfer information was noted. I then called Chase and spoke to a representative who told me she did not see any balance transfers connected to this card that was just issued to me by Chase. The new Credit Card Number they issued ended in XXXX. I then called the Supervisor. She first stated to me that I had requested the card in my former married name of XXXX and she could not change it, but I would have to fill out a name change request to change to my currant name ( after a year of being divorced ) to apply. I thought about this then told " no, I did not put it in my former name of XXXX '' and I had already changed my currant Chase Card over to my XXXX a long time ago, as reflected on my card I have from them. ( additionally I dont think it even asked me to put in my name as I was into my account applying ) She then stated the card I applied for " didnt have a balance tranfer associated with it! " ... where I immediately told her " Yes, it did ", as I had to fill in my Visa Card number and amount I was applying for. She tried to get me into another credit card, I said no, I said to casncel this card for which she replied that the cancellation would be noted on my credit report. I angrily comment back that I would not use Chase again. It's like a bate and switch scheme. 

I went back to the chase card offer and did see they had it in my former name of XXXX, which I had updated, as reflected on my " current Chase Card '', but they hadnt changed in their system. 


Additional Info : This was me consulting XXXX XXXX XXXX, Prior to Applying for the card. 



This is an offer from chase. I need a balance transfer of XXXX. Would i benefit from this if currently paying a visa card around XXXX a month in interest rate fees. 

Youre applying for the Chase Freedom XXXXcredit card. 
$ XXXXbonus Earn a XXXX XXXXXXXX after you spend XXXX XXXXXXXX purchases in the first3months from account opening. * This product is available to you if you do not have this card and have not received a new cardmember bonus for this card in the past 24 months. 
Cash back rewards and more Earn XXXX  % cash back on up to {$1500.00} in combined purchases in bonus categories each quarter you activate. * See theXXXX  % quarterly cash back calendar. 
Earn XXXX  % cash back on travel purchased through Chase Travel. * Earn XXXX  % cash back on dining at restaurants including take-out and eligible delivery services. * Earn XXXX  % cash back on drugstore purchases. * Earn XXXX % cash back on all other purchases. * Cash Back rewards do not expire as long as your account is open. * And there is no minimum to redeem for cash back. Plus enjoy built-in protection benefits like Cell Phone Protection , * Purchase Protection, * Trip Cancellation/Trip Interruption Insurance, XXXX XXXX Liability Protection* and more. 
Low intro APR 0 % intro APR for15months from account opening on purchases and balance transfers.After the intro period, a variable APR of20.49 % - 29.24 % .3 % intro balance transfer fee when you transfer a balance during the first60days your account is open, with a minimum of XXXX XXXXXXXXAfter that, the fee for future balance transfers is5 % of the amount transferred, with a minimum of {$5.00}. 
No annual fee *See details See Pricing and Terms below Your total gross annual income is what you earn or reasonably expect to earn. If youre XXXX or older and regularly use income from others to pay your bills, you can include that too. 

Alimony, child support or separate maintenance income need not be revealed if you do not wish to have it considered as a basis for repaying this obligation. If you include non-taxable income ( income that you or your tax advisor has determined isn't subject to income tax ), increase that amount by 25 %. 

More info Authorized user You may add up to 5 authorized users to your account. Well send an individual card for each one. 

Add authorized user Balance transfer If we approve your application, you can transfer up to 3 balances to your new account from a XXXX, XXXX, XXXX, XXXX XXXX or any store card. If you'd like to request any balance transfers, add the account info and amount ( XXXX ) below. 

Add balance transfer Paperless statements We'll automatically send your billing statements digitally. If you'd prefer to receive printed statements, change your preferences below. 
You can change these settings anytime at chase.com or in the Chase Mobileapp. 
Paperless On Pricing & terms Download Certifications I certify that I have read and agree to all pricing, terms, conditions, authorizations and disclosures provided with this request for credit and that all information provided is true and correct. 
I understand that balance transfers, if any, will be applied to my account and sent to my designated payee ( s ) 10 days after my new credit card is mailed. If I want to cancel or modify my balance transfer within this ten-day period and have received my credit card, I can call the number on the back of my card. Otherwise, I can call XXXX. I will continue to make payments to my other account ( s ) until I know the balance has been paid. 
I will be responsible for repaying all balances on this account. Authorized users will have the same account number and charging privileges as the primary cardmember but will not be financially responsible. All correspondence, including additional card, statements and notifications, will be sent to the name and address on file for the primary cardmember. We provide account information to the credit reporting agencies for all account users. This information could impact an authorized user 's credit score. When you tell us to add a user to your account, you're confirming that you have a relationship with the person or people whose name ( s ), address ( es ) and date of birth ( s ) you've told us, that all their information is correct, and that you have their consent to add them. If we determine you've given us fraudulent name, address, or date of birth information or did not have such consent, we can close this account.

This product is not available to either current cardmembers of this credit card, or previous cardmembers of this credit card who received a new cardmember bonus for this credit card within the last 24 months.

I understand that the terms of my account, including the APRs, are subject to change. Any such changes will be made in accordance with the Cardmember Agreement.

Yes, you could potentially benefit from this Chase Freedom XXXX credit card offer for your balance transfer of {$17000.00}, but there are some things to consider : Benefits : * Lower interest rate : You're currently paying around {$150.00} per month in interest on your Visa card. This offer has a 0 % intro APR for 15 months on balance transfers. This means you wouldn't pay any interest on the transferred balance for 15 months. This could save you a significant amount of money in interest charges compared to your current rate. 
* Potential for cash back : After the introductory period, you can earn cash back on purchases with the card. This can help you offset some of the costs associated with the card, such as the balance transfer fee. 
Drawbacks : * Balance transfer fee : There is a 3 % intro balance transfer fee for transfers made within the first 60 days, with a minimum of {$5.00}. In your case, the fee would be {$510.00} ( 3 % x {$17000.00} ). After that introductory period, the fee increases to 5 % of the transferred amount. 
* High APR after intro period : After the 15-month intro period, the APR on the transferred balance will jump to a variable rate of 20.49 % - 29.24 %. This is a high interest rate, so it's important to have a plan to pay off the balance before the introductory period ends. 
Here 's the math : * Savings on interest in the first 15 months : You'd save {$150.00} XXXX XXXX XXXX {$2200.00} in interest charges compared to your current Visa card.

* Balance transfer fee : You'd pay a {$510.00} fee to transfer the balance.

Overall : Based on the information you provided, transferring your balance to this Chase card could save you money on interest in the short term, especially if you can pay off a significant portion of the balance within the 15-month intro period. However, you'll need to factor in the balance transfer fee and make sure you can pay off the balance before the interest rate jumps to a much higher rate. 
Here are some additional things to consider : * Can you pay off the balance before the intro period ends? If you don't think you can pay off a significant portion of the balance before the intro period ends, it might not be worth it to transfer the balance. You could end up paying more in interest with the Chase card 's higher APR compared to your current XXXX card. 
* Are there other offers with a lower transfer fee? You might be able to find other balance transfer offers with a lower transfer fee. This could help you save more money overall.

Recommendation : Use a balance transfer calculator online to estimate your total savings with this Chase offer compared to your current Visa card. This will help you make an informed decision. You can also search for other balance transfer offers with potentially lower fees.

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Company response to consumer: Closed with explanation