Chase Bank
Charged $976.39 deferred interest after one missed payment despite paying ahead

I have always paid my account on time over the past year and a half. Minimum payments averaged $80-$100 a month. Average payments made were in excess of $200. Started out with a balance of $4,000, over the past year and a half, balance was paid down to $1,200. Now, in November a payment was not made, my newborn baby was born and the bill got overlooked... However the minimum payment requirement on the account was paid well in advance.

Well, Chase Bank decides that this is a good opportunity to charge me all deferred interest because my account is "delinquent"... No disclosures are given to consumers as to how the bank decides to handle the payments made above the minimum. They charged me $976.39 for the deferred interest charge on a balance of around $1,200 owed. This type of activity is unethical, improper disclosures to consumers, and their accounting practices would seem to subvert the usury laws. They apparently looked at my account, and have an opportunity to charge a consumer that actually pays his bills ahead of time, and uses unethical immoral business practices to charge me a fee that is outrageous.

It is kind of ironic that we as consumers bail out these banks, money we will be paying in taxes from our hard earned money, and they have shown no accountability to the taxpayers. I have written my representative on this matter, and several govt agencies that "supposedly" have oversight (hahahahahahha) on banks.

My recommendation to anyone wanting to do business with Chase Bank is this... Do not go within a hundred miles of Chase Bank - the unethical immoral dealing bank.

Company: Chase Bank
Country: USA
State: New York
City: New York
Address: 270 Park Avenue
Phone: 8004776761

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