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laz98
Posts: 4,334
Registered: ‎09-06-2008
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Re: God I hate Chase...

wow, OP, that is one horror story!

 

i don't have a credit card with chase, but i do bank with them.  haven't had any issues.  maybe it's only once you get into their other products?

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Bigned
Posts: 19
Registered: ‎12-21-2007
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Re: God I hate Chase...

The only thing I can think of it is an old WAMU card, but even so, haven't they been just sending out Chase cards once the WAMU expires?  It just bothers me because I have been adding more with them - the auto loan is from 11/2010 and I just opened the checking accounts for the travel teams in February.    Is there credit department completely apart from the rest of their banking?  Can't they see my whole portfolio of Chase products?  Or do they just not care?

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clocktick
Posts: 1,604
Registered: ‎12-07-2008
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Re: God I hate Chase...


Bigned wrote:

 as well as a personal loan to payoff the Chase CC.  Just had to vent - thanks for listening.


 

Ouch, sorry that happened to you.  What was your utilization like when they closed it?  How large of a balance and how long did you have it on their card?

 


HopeLives wrote:

 

CHASE stood by - my choices at the time were to keep paying for a vehicle that sat stored at the dealership (which was sinking into bankruptcy, the owner of the chain now in prison) OR to pay for my house which was sinking into foreclosure.


 

Whether the vehicle was a lemon or not, it seems as if you had to make this choice anyway? 

 

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vish1
Posts: 1,129
Registered: ‎01-20-2011
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Re: God I hate Chase...

 


HopeLives wrote:

It is really very simple.  Chase had two options;

 

Option A

Choose to be paid IN FULL by General Motors per GM attorney letter, notarized, signed by CFO, with funding shown by GM, and relinquish vehicle to me, to be picked up by GM

 

OR

 

Option B

Decline to be PAID IN FULL by General Motors per GM attorney letter, notarized, signed by CFO and sue ME for difference between what they sold it for at auction and what was owed.

 

In doing so, they DID NOT GET PAID IN FULL AS I FILED BK TO PROTECT MYSELF FROM THESE DOLTS.

 

Purely, stupid logic on their part.  Very stupid.


vish1 wrote:

I am sorry if I sound crazy, but I am unable to understand what's chase's fault in this? Am I missing something


 

Though its a personal opinion, but chase was in no contract with GM (they had a contract with you though) and what looks like a simple decision (take money from GM) would probably need a whole lot of legal stuff.

 

IMO, no matter how stupid their decision looked, Chase took the right business decision. Why would they get into the process of working with you and fulfill all the documentation that GM would want to fulfill before they would pay chase if et al (the fine print thingie).

 

At the end of the day, the fault was all GMs (neither you nor chase), why won't they trust Chase and pay up first and then get the car?

 

If you look at the end result, you also took a hit there (primarily because of the fault of GM)

 

Please don't take any of this personally, its just my opinion.

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Bigned
Posts: 19
Registered: ‎12-21-2007
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Re: God I hate Chase...

Well I have perpetually carried a balance on this - anywhere from $1500-$2800-where it is currently as I work to pay down other cards.  I pay more than the minimum every month (usually $100 on a $73 minimum) though I do use it if the need arises as I am really trying to get my other cards paid off.  I figured if I was safe with any of my cards during this time, it was Chase with all of the other business I give them.  Guess I was wrong...

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HopeLives
Posts: 94
Registered: ‎08-31-2010
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Re: God I hate Chase...

I don't bother to read your posts, Vish.

 

So, if you personally had a choice of being paid in full... by a nationally known name, assured by attorneys with signed legal documents that you would be paid in full...

 

OR

 

you could choose to chase some peon with no money to try and obtain funding for the vehicle.

 

You'd choose the latter?

 

I hope you don't work in finance or therein, lies the problem with rationale.

 

Even a bank I talked to in hopes of securing a short term loan,scratched their head at chase.... as did my bf who is a gazillionaire (met him after the fact)...

 

As for the comment, I'd have had to make the choice anyway:

 

no.  Had the original deal gone through as expected, I'd have had the truck off my loan, money to purchse a Geo Metro, and funds left over to pay for the house.

 

As is, I lost everything.

 

Sometimes, ya'll thinking just makes me scratch my head.


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LilMirth
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Re: God I hate Chase...

I'd like to take a moment to remind everyone to be friendly & respectful in their discussions. There's nothing wrong with a healthy debate, but if we feel ourselves getting a little hot under the collar, it's time to step away and find a new thread to contribute to. Just a reminder... :smileyhappy:

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jeffery581
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Registered: ‎03-26-2010
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Re: God I hate Chase...

And people wonder why our banks are in the shape they are....

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vish1
Posts: 1,129
Registered: ‎01-20-2011
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Re: God I hate Chase...

 


HopeLives wrote:

I don't bother to read your posts, Vish.

 

So, if you personally had a choice of being paid in full... by a nationally known name, assured by attorneys with signed legal documents that you would be paid in full...

 

OR

 

you could choose to chase some peon with no money to try and obtain funding for the vehicle.

 

You'd choose the latter?

 

I hope you don't work in finance or therein, lies the problem with rationale.

 

Even a bank I talked to in hopes of securing a short term loan,scratched their head at chase.... as did my bf who is a gazillionaire (met him after the fact)...

 

As for the comment, I'd have had to make the choice anyway:

 

no.  Had the original deal gone through as expected, I'd have had the truck off my loan, money to purchse a Geo Metro, and funds left over to pay for the house.

 

As is, I lost everything.

 

Sometimes, ya'll thinking just makes me scratch my head.


 

I take business decisions about 30 hours a week out of my 40 hours a week job.

 

If it was my personal money, I would go with you to the GM dealership (or watever), work with you for documentation and get the full money.

 

I totally understand your thinking and you are absolutely right in your statement that it was stupid decision by chase (and they lost money). The only thing I am trying to differ is that you are thinking as an individual, not as a business.

 

Now, if I was taking that decision as a business, I would do exactly what chase did.

 

Think of it this way, GM won't do something like hand me the keys and take your check. Its like hand us the keys, fill up all these documentation then we will review the car and then make a check (if everything goes well). All this time, chase will have to risk the whole money (not just the difference) and work with you and GM to get their money. One of the steps here for Chase would be to terminate all their legal rights on the vehicle as a collateral, which you (chase officers) can never get an approval for.

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ChaseBankSucks
Posts: 1
Registered: ‎04-30-2013
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Re: God I hate Chase

Finally some action taken against Chase, check out this press release.

http://www.prweb.com/releases/2013/4/prweb10665204.htm 


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