Like these other reports I too had this experiance. After paying them off in November they offered me 2.9% interest 'for the life of the loan'. I called and clarified that this was true and that if I made a late payment I was subject to loosing this rate.
In February I rec'd a bill due the end of February with a late fee and a balance. I called again and was told this was some 'residual' interest that had not been paid off when I paid them off in November. I questioned them for several minutes as to why I had not received any bills in December or January if this was true. I should have run then. I didn't, the lure of 2.9% was too great and I used the convenience check for a large sum.
My first two statements were normal and I was pleased. When we receive our statement yesterday we saw they had jumped the interest to 11.74% on part of the check and not the other part. Also, they had a late fee on there. I called and was told that I had made a payment late on 4/4/05. I explained that it was not possible.
I had made the payment while out of town, had gone to the public library to take care of some business because we had not taken our laptop along on the trip. The customer 'service' person I spoke with told me this was not possible because if I had it would have shown up within 12 hours.
Here is what I think happens. They lure you, hold a transaction and then post it late so they can 'up' your rate. The customer 'service' reps may not be privy to this but I know for a fact that in my case they are lying. I plan to file complaints with evey authority I can find.
My card was not with Chase to begin with it was with First USA and I had had it for about 15 years or longer. It changed to Bank One then Chase within a couple of months back to back. This is corporate fraud at its best. They are just as bad as the Enron and Health South executives and certainly more crooked than Martha Stewart!
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