Godlike Productions - Conspiracy Forum
Users Online Now: 2,483 (Who's On?)Visitors Today: 737,141
Pageviews Today: 1,038,395Threads Today: 307Posts Today: 5,898
09:36 AM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

Beware if you pay your Chase credit card off each month using their website's "last statement balance" payment option

 
Done with Chase
User ID: 739129
United States
02/13/2010 12:38 PM
Report Abusive Post
Report Copyright Violation
Beware if you pay your Chase credit card off each month using their website's "last statement balance" payment option
Word of caution to those that have a Chase credit card and pay it off every month using the "last statement balance" payment option on the payment screen of their website:


There is a known (but not declared or documented in any warning on the site) delay on their website update process with the current statement balance payment option that seems to have started for me a couple of months ago. I am certain now that this bug caused me to make the same payment amount twice and ended up in a finance charge, which I avoid with religious fervor.

I almost made the same mistake yesterday and paid the same amount two months in a row until I noticed that the problem is with the site and the last statement balance it displays on both the account summary AND, more critically, the "Statement Balance" payment option on the payment screen that defaults in the payment amount you should make to avoid finance charges. I learned yesterday that for "24-48 hours" (according to the client service rep) both of these show the prior month's last statement balance - although there is nothing close to an indicator of that on the site to flag someone to take a closer look. So, yesterday I was seeing January 11's last statement balance instead of February 11's last statement balance - despite having just received an electronic statement that showed the correct Feb 11 balance. If it was just a balance display issue, that wouldn't irritate me so much, but that "pay last statement balance" button also has the bad data, which invites you to make the wrong payment amount and potentially get hit with finance charges (for example, had my Feb. 11 last statement balance been higher than my Jan. 11 statement balance, I wouldn't have made a high enough payment and would get finance charges on the difference). It happens this month that both my current balance and my Feb 11 last statement balance was significantly lower than Jan 11's last statement balance, so had I used the last statement balance feature I would have paid Jan 11 balance twice and overpaid by several hundred dollars.

I called in yesterday and reported this to a customer service agent and was told that, to avoid this, I shouldn't pay my bill the day after I get the statement and that I should wait until closer to the 15th to make my payment. I was also told that, should I choose to keep my habit of paying when I get my statement, that I shouldn't use that statement balance button and instead, enter in the manually key in the amount of my actual last statement balance into a different "pay specific amount" type field. What I did not hear was any type of acknowledgment or response that said he would report this as a website issue and get it fixed - or at least have some type of warning on the site to clients to tell them to double check that amount before you pay it because it could be out of date during that time period. I even emailed a separate complaint and was told essentially the same thing in their response - and, again, missing from that response was any indication that this would be fixed or be more clear on the site.

What's really interesting to me is how this website delay happens to greatly benefit Chase through unsuspecting people like me using the "Statement Balance" payment option thinking that we're paying the full amount and suddenly get hit with a finance charge because we paid the wrong amount (the wrong last statement balance). I really wonder just how lucrative this has turned out to be for Chase.

Yes, I know, I have a responsibility to scrutinize the statement reporting I receive from Chase and take responsibility to pay the right amount - but they have a responsibility to keep their website data correct, or if it's not current - put up some type of warning or indication that tells us that the data might not be correct and could result in a short payment amount.

As I was seething yesterday I was browsing around to see if others had the same problem and discovered a ton of other totally screwed up things about Chase credit cards that have thankfully never happened to me, but helped me figure out that I'm done with that bank, which happened to be one of the bigger benefactors of the bank bailouts - and yet continue to rip off Americans through these stupid tactics.





rant
Anonymous Coward
User ID: 1258710
United States
02/07/2011 07:50 PM
Report Abusive Post
Report Copyright Violation
Re: Beware if you pay your Chase credit card off each month using their website's "last statement balance" payment option
I just had the exact same thing happen to me...and your story pretty much parallels mine word for word. There's gotta be someone who we can report them to....
Frugal Check
User ID: 1456727
United States
07/06/2011 04:04 AM
Report Abusive Post
Report Copyright Violation
Re: Beware if you pay your Chase credit card off each month using their website's "last statement balance" payment option
Almost the same thing happened to me, and I pay my balance in full every month (banks call people like us 'deadbeats').

On the Chase Perfect Rewards Master Card (they subtract your reward amount from your balance every month), I selected the 'pay statement balance' button, let's say the balance was $150.00. Chase then subtracted the reward amount from my payment (let's say the reward was $1.50), posted my payment as $148.50, posted the reward on the day the next statement cut, and charged me interest for not paying my statement balance in full.

I e-mailed customer service and they reversed the interest because they 'value me as a customer', but could not explain why they are doing this now (it started two months ago) when I handled my account this way for the three years it has been open and was never charged a fee before.

My workaround is to put in the dollar amount of the statement balance instead of using the 'pay statement balance amount', but their system seems sneaky and underhanded to me...to have a button that says 'pay statement balance' and there is the dollar amount of the statement balance and then to apply a different payment amount and say the customer did not pay the statement balance in full seems like 'trap for the unwary' to me.
Anonymous Coward
User ID: 1371185
United States
07/06/2011 04:47 AM
Report Abusive Post
Report Copyright Violation
Re: Beware if you pay your Chase credit card off each month using their website's "last statement balance" payment option
Anybody using those big name banks(chase, bank of America, etc.) deserve what they get..
bitch what u use
User ID: 32891338
United States
02/07/2013 02:01 PM
Report Abusive Post
Report Copyright Violation
Re: Beware if you pay your Chase credit card off each month using their website's "last statement balance" payment option
Anybody using those big name banks(chase, bank of America, etc.) deserve what they get..
 Quoting: Anonymous Coward 1371185


what do u use fool