Chase Returned Payments, Score dropped 150 points and $550 in fees/interest

[Anonymous]

So I created a Chase Amazon card back in April and apparently had a typo in the bank account number.  It went unnoticed until December when all of the payments were returned at one time.  Its my fault, although an innocent mistake.  I somehow never noticed that the money wasn't leaving my account this entire period.  I always pay my balance in full, and after each payment, I'd get a "thank you for scheduling your payment" email, and then a couple of days later a "thank you, payment received" email.  And I'd login to Chase and see my balance at zero.

Apparently Wells Fargo, where my payments were coming from, didn't notify chase that these payments were unauthorized until December.  End result, $25x8 payments = $150, and they charged me interest on the money, so I racked in about $400 in interest as well. Thats after them refunding me for 2 of the fees ($50) and about $6 in interest (what a joke).  The worst part is, I just got my credit report and I dropped about 150 points.  Its showing a 30 in September, a 60 in October, and a 90 in November, which I'm assuming is number of days late.

I called Chase and ask for a courtesy removal with no luck.  Does anyone have any suggestions or experience with this?  I'm new here, did a little searching around, but didn't see anything similar to this.

Thanks!

[Shokk]

I wouldn't give up on calling.  Might also type up a nice email to their excutive offices explaining exactly what happened. If you haven't already, pay the past due balance before it gets charged off.

You have a paper trail from their emails showing each payment was made.  I don't think its a complete lost cause.

[gdale6]

I would file a CFPB complaint on everyone involved. Yes its your mistake but its bank incompetence at fault for months on end. Welcome to My Fico and good luck

[RobertEG]

I would not recommend involving the CFPB.

There is no violation of either the FCRA or FDCPA for which the CFPB would have basis for administrative action.

Having to address a CFPB complaint asserting wrongdoing is not apt to promote good-will by the creditor, which is where I would place my emphasis.

I agree with contacting upper management, who has authority to grant exceptions to any non-deletion polcy imposed on subordinates.

[SunriseEarth]

---

@RobertEG wrote:

I would not recommend involving the CFPB.

There is no violation of either the FCRA or FDCPA for which the CFPB would have basis for administrative action.

Having to address a CFPB complaint asserting wrongdoing is not apt to promote good-will by the creditor, which is where I would place my emphasis.

I agree with contacting upper management, who has authority to grant exceptions to any non-deletion polcy imposed on subordinates.

---

I'm inclined to agree with this approach.   Contact the Chase EO.   You can find their number in the "Backdoor Numbers" sticky thread over in Credit Card Applications.

[gdale6]

---

@RobertEG wrote:

I would not recommend involving the CFPB.

There is no violation of either the FCRA or FDCPA for which the CFPB would have basis for administrative action.

Having to address a CFPB complaint asserting wrongdoing is not apt to promote good-will by the creditor, which is where I would place my emphasis.

I agree with contacting upper management, who has authority to grant exceptions to any non-deletion polcy imposed on subordinates.

---

As far as Chase is concerned yes there is no violation here, the violation of banking laws IMO rests with Wells Fargo. The OP could attempt to get GW from the EO of Chase without filing a complaint on them and would be free to file a complaint on Wells Fargo. This is something that should have been caught within 30 days by WF, I would not let them get away with an eggregious bank error like this,

[redbeard]

Why is its Wells Fargo's fault?

Given the description, I'm sure the money was coming out of an account, just the wrong one.  One day, that account owner realized it, had Wells investigate it, found out it was a mistake and reversed it.  Wells did nothing wrong in this case.

Chase took the money they were given and applied it, till they had to give it back.

Honest mistake?  Sure, but mistakes have consequences.  Hopefully, the consequences will be limited to paying some fees for stupidity (don't know what else to call it?) and then spending some time writing and calling to get the error off the credit report.

Dan

[Anonymous]

Thanks guys for all the advice here.  I think I'll try contacting the Chase executive officer.  Are there any guides here on what to say or ask for?

[Anonymous]

Update:  Spoke to someone at the Chase executive office.  The woman on the phone (Maurine) was understanding, sounded confident that I could get my $500 in fees/interest back, and said she'd look into to the credit report.  Says I'd hear back from someone in 24-48 hours. A week later, no call, I call back twice in that week and leave two messages.  Just got a call today from someone else.  They won't refund my fees or interest.   They also won't do the courtesy removal.  Some BS about being a "regulated bank" or something and that they're obligated to keep it reported, and that everything was already handled appropriately.

So all in all, very disappointing.  Where would you guys go from here?  I could talk to Wells Fargo but I'm not sure they can really do anything other than tell me what I already know.  Only Chase can get they late payments removed.

[TRC_WA]

I'm amazed you went 6+ months and didn't notice it.

I know people don't write checks anymore but I still balance my debit card book each month.