cancel
Showing results for 
Search instead for 
Did you mean: 

Chase Credit Card

tag
chasevictim
New Member

Chase Credit Card

 

I need advice regarding how to deal with Chase. Any advice will be appreciated. 

 

I opened an account with Chase back in 2004. I signed a form so that Chase deduct minimum payment automatically out of my account. Last year I looked at credit report and saw that the balance ($1500) remained same for about 7 years. On further investigation, I found out that Chase deducted minimum payment automatically from my checking account each month but at same time charged late fee of $39 each month. This happened while I was not even using the card at all for 7 years.

 

Now I understand that I did not catch the late fee for many years. So I refused to make any more payments to Chase and asked them to reimburse all the additional fee they charged in addition to principal. Chase refused saying that: 1. It was my responsibilitty to check my statements.  2. I missed a single payment in April 2007 and that I paid on time every month after that but I never made up that missed payment for that month and so it continued to charge late fee (ridicolous)

 

Not only it left bad mark on my credit report but they deprived me of over $8000. 

Message 1 of 4
3 REPLIES 3
FinStar
Moderator Emeritus

Re: Chase Credit Card


@chasevictim wrote:

 

I need advice regarding how to deal with Chase. Any advice will be appreciated. 

 

I opened an account with Chase back in 2004. I signed a form so that Chase deduct minimum payment automatically out of my account. Last year I looked at credit report and saw that the balance ($1500) remained same for about 7 years. On further investigation, I found out that Chase deducted minimum payment automatically from my checking account each month but at same time charged late fee of $39 each month. This happened while I was not even using the card at all for 7 years.

 

Now I understand that I did not catch the late fee for many years. So I refused to make any more payments to Chase and asked them to reimburse all the additional fee they charged in addition to principal. Chase refused saying that: 1. It was my responsibilitty to check my statements.  2. I missed a single payment in April 2007 and that I paid on time every month after that but I never made up that missed payment for that month and so it continued to charge late fee (ridicolous)

 

Not only it left bad mark on my credit report but they deprived me of over $8000. 


Unfortunately, not sure what positive advice can be provided given that Chase provided paper statements/notifications in accordance to your balance and transactions that would have included any and all payments, fees, etc.

 

I'm trying to wrap my head how you let it go for so long (7 years!!!) without checking or questioning whether there was an error in the method of how your payments were being applied or when that payment was missed.  Essentially, any billing rights protections you would have had were/are lost with disputing the balance or any part thereof.  The 2nd piece which did not work in your favor was refusing to make payments on it.

Message 2 of 4
takeshi74
Senior Contributor

Re: Chase Credit Card


@chasevictim wrote:

 

I need advice regarding how to deal with Chase. Any advice will be appreciated. 


Not much you can do other than chalk it up as a very expensive learning experience.  Chase did what they were supposed to do.  You did not.  If you set up automatic payments to only cover the minimum and never checked your statements then this sort of thing can happen.  If, on the other hand, you set up automatic payments to pay in full and they did not pay in full then you would have some recourse.

Message 3 of 4
Anonymous
Not applicable

Re: Chase Credit Card

How can you miss a payment with Chase auto-pay? It is a stretch but talking with the EO with a nice letter and looking at paying off your balance quickly or in total may be a positive. You only have yourself to look at on a most unfortunate situation. Remember, "...the man who has the gold rules..." You do not have the gold.
Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.