Saturday, February 7, 2009

Chase, The Zombie Credit Card Company That Won't Die

I am extremely frustrated because I am trying to wash Chase out of my hair completely and yet it won't go away like a stubborn blood sucking nit. (For those who are unfamiliar with my recent spat with Chase, my prior posts can be read here and here.)

Anyhow, here's a brief summary of what transpired:
  1. Chase purportedly advised me back in November of the following change in terms of the credit card.

  2. I discover the $10 service charge and the 250% increase in my minimum payment in January 2009. I make the decision to transfer my balance to Bank of America's 0% offer.

  3. Because I know Chase is a bloodsucking bank, I sent an additional $30 to cover any interest charges accrued until the balance transfer takes place.

  4. I discover on February 5 that Chase will continue to charge me $10/month regardless of whether I carry a balance. Chase tries to blackmail me to do a balance transfer to 7.99% APR to avoid the $10/month service charge. I tell them to go pound sand and close my account.

  5. Chase closes my account and sends me a $20 refund (which I have not yet received).

  6. Chase is now billing me $13.76, when it could have just issued me a $6.24 refund instead of $20.

Frustrated, I ranted at a poor customer service rep at Chase. He assured me that the $13.76 won't accrue any interest since it arose out of finance charges and only the principal balance accrues interest.

How much do you want to bet he's full of cow patty and I'll get a bill for 5 cents interest next month? Chase is becoming a zombie company I can't get rid of!

And to think Chase is one of our better financial institutions? I think I see why we're in the midst of the economic crisis we're in now.

Please, Chase, just go away. I hate you.


Ms. MoneyChat said...

oh no! my beloved wamu has been taken over by chase. supposedly the wamu banks in my region won't "see" the full transformation until 2010. if this is the type of customer no-service that they offer then i'm gonna be one unhappy chic.

Miss M said...

Ack, did you get a payoff balance or just paid the current balance? When you payoff a car or student loan early they'll quote you a payoff balance for several successive days since interest accrues daily. For credit cards you can do your own calc and payoff a little more than the balance to help kill the zombie. Sorry, pay a dollar over this time and the monster should die. It's not just chase, all CC do this.

Jennifer said...

My WaMu card for which I have much loathing is becoming a Chase card... Reading your saga really worries me since this card is *already* the devil I just can't get out of my life!

Christine W said...

Be very careful of Chase if you had a Wamu credit card.

They jacked my interest rate to 22%
and I've never been late and have an excellent fico.

And of course, you can't see your interest rate online. I only learned of it when I finally asked for a paper statement.

I hope Chase goes under.

Sharon Rose said...

Hi there-totally incredible!! The sooner this account is out of your hair the better! Ican't believe they were charging you even with a zero balance, plus now you are having to phone them to clear this mess, unbelievable comapny :-(

Money Funk said...

go away, go away and DON'T COME BACK ANOTHER DAY!.

Ah, sorry you have Chase drama. Log the calls, their rep #'s. And they will probably treat your refund and the finance charge as two seperate things. So, I would pay the $13 and con't to wait for the refund. Good luck!

Shanasta said...

I had a Chase card YEARS ago. I closed the account and those bastards are STILL on my credit report. It has been past the usual 7 years, so I don't know how they are on there.

I used to have several credit cards (Bank of America, Chase, MBNA, and several store accounts) that I racked up when I was a student. I transferred all of the balances to one credit card and finally paid it off last year ... 15 years after I opened my first credit card account! I hopefully will never do that again ....

My current credit card is through a credit union. I highly recommend credit unions ... lower than average permanent interest rates (mine is 10%), minimal fees (I have never had a fee on my account other than interest) and great customer service.

I know silver bullets kill werewolves, stakes kill vampires ... what kills zombies? Aren't they already dead?

Debtfree2009 said...

I haven't seen any monthly fee on my chase card. I need to go check now.

Saver Queen said...

Omg, how annoying. You'll just have to pay very close attention and follow just like you've already been doing. I hate credit card companies! Evil!