Senior Contributor
Posts: 4,220
Registered: ‎02-23-2011

Re: Chase "Interest Charge Reversal"?

john398 wrote:

Yes its kind of complcated so they get as much intreast as they can, I have sometimes paid my card off and than used it again and had intrest before I understood how it worked

Yes, basically, if you had paid in full the prior statement, then the "due" date is your grace period, otherwise it's 23 - 25 days.

Valued Contributor
Posts: 1,145
Registered: ‎04-13-2013

Re: Chase "Interest Charge Reversal"?

LawStudentCivilis wrote:

Thanks everyone for clearing this up for me! I myself thought if you paid the balance before the due date, then no interest would be charged.  I PIF before the due date.  Which is why I called to talk to the CSR and she said it was from my previous balance.  Seriously, it's always something with the credit card side of Chase.  I'm always told something different, and they never can answer a simple question such as this.  I'm glad the "computer" must have caught the error and reversed my interest. I am literally smh, I got such a run around when I tried to close the card and transfer the CL, I had to contact EO.

This is not unique to Chase so I would get used to this type of thing if you don't plan on PIF every month. I've had the same happen with Citi and BoA. Citi was nice enough to waive the interest since I wasn't aware that's how it worked. BoA - it was only for $4 so I didn't bother. 

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