I also had a Chase Mastercard account that went mysteriously from about a 12% interest rate to a 29.99% interest. The customer service people were not customer service friendly. I closed the account, and was told "that means you can't charge any more." That was a brilliant statement. Like I wanted to use it any more. Then I received my final statement. I sent in the total amount due on the bill. They cashed the check 4 days later.
The next month I received another bill for almost $300. I called and yes I yelled. According to mastercard, they "back bill" for the interest. So when you look at your statement that isn't what you really owe. Every other credit card I still have and have had in the past has a total amount due. If I pay that full amount before or by the due date I owe nothing else. Nope with Chase the back bill means they keep billing you.
So if you pay $300 on Sept. 4. Your next statement will have interest charges on the $300 from the date of your previous bill to the date of the next bill. So in all reality with Chase you can never pay off the card because they will charge you finance charges on your finance charges. The rep I spoke to said you have to have a zero balance for 3 months before Chase won't charge any more finance charges.
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