Below is a letter i sent to Chase highlighting the issue in concern. As well as there reply completely missing the point.
I am very upset over an offer I recently took advantage of (although it seems I was the one taken advantage of). I was offered a balance transfer of my available balance which was at the time $3000. I took the 0% offer as it made sense to transfer from my Citibank card due to their high interest rates. I travel for my work and so was dealing with this from Europe over the internet.
Upon my return today I checked the status of the transfer only to find that although the funds have already been charged to my Chase card (3 days now) they have not been credited to my Citibank Card. So I am still paying interest on the Citibank balance.in addition I was charged an overdraft fee as although it stated my available balance transfer was $3,000 it wasn't it was actually $2910.00 to allow the $90 for the transfer fee cost...
This was not in anyway clear in the process of transferring the funds online. And had it been so that is what I would have transferred, as why would I want to incur an overdraft fee when the whole point of the transfer was to lower fees and not to incur additional charges.
I believe that I was completely misled through the online transfer procedures, and following a conversation with your customer service it is evident that they have strict protocols to retain these funds wherever possible as they would not even listen to me, and they made me rather annoyed as they did not seem to understand my concerns. All they told me was to send a letter in with my complaint.
Now I have 3 accounts with Chase currently and am really upset that this is the way that a loyal customer would be treated as this has obviously occurred through miscommunication of the promotion.
I would appreciate your review of the Charge of $39.00
The reply!!!
Dear michael *:
Thank you for your interest in our balance transfer
program. Please be advised that the amount of the fee
associated with a balance transfer varies based on the
specific balance transfer offer that is used. If you have
any further questions, please feel free to contact us at
the number listed below.
Our records indicate the offer applied to your account
does have a balance transfer fee that does not qualify for
removal.
If you feel this was not the offer you responded to,
please provide us with supporting documentation reflecting
any alternate terms to be applied to your account.
An overlimit fee is assessed whenever the account exceeds
the assigned credit limit at any time during the billing
month.
Our records indicate your account balance exceeded the
credit limit. Therefore, the fee is valid and we will not
be providing the adjustment as requested.
We would like to provide the following tips to avoid
future overlimit fees.
- Monitor your balance. You can obtain your available
credit information by calling our toll-free Customer
Service number or by visiting our website.
- Remember that, even if you have made no new purchases,
finance charges could be billed to your account and cause
you to exceed your assigned credit line.
- Call us to request a credit line increase. We may be
able to raise your limit. We realize that emergencies do
occur, so we evaluate each request for credit individually
as it's presented to us.
If you have additional questions or if you would like to
request that your account not be permitted to exceed the
credit limit in the future, please email us or contact
Customer Service at the number listed below. For your
convenience, we are available 24 hours a day.
Thank you,
Carissa Horn
E-mail Customer Service Representative
1-800-436-7927
Account is owned by Chase Bank USA, N.A. And may be
serviced by its affiliates.
Mikes
miami, Florida
U.S.A.
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