I was ripped off and defrauded by Chase. I opened a credit card with them in Jan. 06 with only a 300.00 limit in an attempt to build my credit. I paid my bills on time each and every month, and was very careful to make sure this card stayed in good standing. My due dates were on the 3rd or the 4th of every month and did not change until Nov. 06.
I made 2 payments on my card in Oct. 06 in the same month so that I could charge something on the card. I never thought about it, or had any reason to be concerned until I called in on Dec. 3rd to make my payment as I normally would, when I was shocked to hear that my account was past due since Nov. 29th.
I had been charged a 39.00 late payment fee, and was now over the limit, so I was charged a 39.00 over the limit fee as well. Plus, my interest rate had been raised from 19.99% to 23.99%.
I spoke to a man at Chase who told me that all he could figure out was that my due date was changed because some months have 30 days, and some 31 days, and it's a 30 day billing cycle. That made no sense because my due date had never changed.
I did not have the money at that time to pay the 107.01 minimum payment (after fees were added). My minimum payment before it went late was only 10.00. I had to wait until I got enough money to pay Chase before I could do anything about the account. I told Chase this when I spoke to them also.
I could make a payment until Jan. When I got a cash birthday gift from a relative. I purchased a money order and mailed it to Chase on 01.22.07. Before that in Jan., I got a letter from Chase saying if I made a 150.00 minimum payment, that would avoid any further damage to my credit rating. Also, the letter said they could work with me to credit late fees if needed, or set up a payment plan to meet my needs. The money order I mailed to them was for 175.00.
According to Chase, they never got my payment. I never got the payment back either, and have no way to trace it because I do not have the money order reciept to get the serial # to trace it.
I called Chase on 02.13.07. This is when I learned that my payment was not posted. I spoke to a rep and explained that I sent in a payment. She said they had no way of knowing what happened to my payment. She also said a 60 day late payment had not yet been reported to the credit bureau. I had explained to her my concern for this happening as a result of the payment not being posted.
I was transferred to settlements to discuss the account with them and try and agree on a settlement so that no further damage be reflected on my credit history. I spoke to a man there and explained my situation to him regarding my payment being sent in but not credited. He was very persistant about trying to get me to do something right then about the account. He said I could settle it for 66% of my balance. I asked him about my credit history and how it would be affected. I told him I was trying to protect it so that it would be damaged further or else I would not have sent my birthday gift to them.
He said my account showed 60 days late in their system, but that it had not yet been reported to the credit bureaus. He told me if I agreed to settle the account right then, he would make sure that information did not get to the credit bureaus. He said my credit report should only show the 30 day late that was already there. I agreed to settle under those terms and authorized payment immediately.
I talked to a regular rep after the settlement was made so that I could verify that what the settlement rep told me was done. She told me my account did not show in their computer as 60 days late. She said it was showing 31 days late, and that if I had an issue about something that shows in my credit report that I should dispute it with the credit bureaus. Why would they tell me this if they think it SHOULD have been 60 days late, I still wonder.
I then decided to pull own credit report from all 3 bureaus to see if it showed correctly on there. Of course it showed I still owed the full balance and it was 60 days late. During this short time, my credit score went from about a 690 down to a 485. That is a huge drop. That is why this is such a big deal, and why I will not stop until I get the results I deserve.
I again called Chase and was told there is nothing they could do. They got famous for saying " I don't know who told you that", and " there is nothing we can do mam". At one point a man even said to me that they should have reported a 90 day late but they didn't cause they're cool like that. Very unprofessional! I think they recruited their employees from the local high school or something.
Still searching for answers and ways to resolve this, I decided to file a complaint with the Better Business Bureau, which I did. I got a phone message from a Melissa Hagler from Chase Executive offices saying that my BBB report was recieved and they would investigate my concerns and contact me directly by mail in 7-10 days.
Today is day 9 and I got a letter from this Melissa Hagler at Chase.
She states that my account was already reported to the credit bureau as 60 days past due when I called in on 02.13.07. That is not true because my credit report was pulled on 02.09.07 by a credit expert I was dealing with who told me it showed a 30 day past due. I also reviewed it myself before calling Chase on 02.13.07, and it did not show a 60 day past due.
She also said they confirmed that the phone conversation did not reflect any duscussions about credit history, or how it would be reported. That is a lie! Also, if they did a thorough investigation, they would have pulled up all the phone records from all my calls before and after the settlement. I know what the guy told me, I know I mailed in my payment, which she did not speak about that in the letter at all, and I know I've been cheated by Chase and given the runaround now yet again. I would not go to this extreme if I was wrong.
I also would not have gone to the trouble of filing a report with BBB. I was recently informed by the credit expert I've been dealing with that Chase actually reported the account as a collection, then went and reported a settlement to the collection. I know for a fact that that it was not ever turned over to collections.
I was never notified that there was even any risk of that happening because it didn't get that far. They are such liars! Liars! Liars! Chase Credit Card company and it's affiliates are nothing but liars. They prey on honest, hard working individuals with the intent to con them out of as much money as they possible can. They charge outrageous fees and raise interest rates to sky high levels without warning.
It is my opinion that there should be a class action law suite formed against them to try and recover some of their customers' losses. I also think they should be put out of business. If anyone any helpful information, any ways they got the results they were trying to get, or even has Chase higher ups, or especially the contact information of the CEO of JP Morgan Chase, please, please, contact me. To anyone out there looking to improve your credit, DO NOT open up a credit card with Chase. Word to the wise. Go to your local credit union and open a share secured loan, which is a loan you get on your own money. It will boost the credit score alot. I've learned my lesson with dealing with credit card companies. Chase is a crooked company, and will hopefully get what they deserve.
Steer clear of them at ALL cost!
Jennifer
Albuquerque, New Mexico
U.S.A.
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