JPMorgan Chase & Co CHASE Credit Card, Charge Interest with Zero Balance Owed Wilmington, Delaware

when he eats KFC chicken.

*You can stay at this site and type in 659863 and read 'Consumer Comment #4' where he states that he gets "dysentery", okay?

Dang blast it!  I spilled my coffee when I read Karl's rebuttal!  LMAO!!!!

Could it be that even Karl has had enough of the Great and Powerful Roz polluting ROR?

ROTFL

Could you post the EXACT terms you are looking at.  Because I think you may have mis-read it.

Every credit card company I am aware of has a Minimum Interest charge, depending on the company that can be anywhere from $0.50 to about $2.00.  But that only gets applied if you have a balance from the previous month and the amount of interest you would be assessed is lower than the mimimum.  For example, if the previous month you had a balance and would have been assessed $0.79 in interest, they will instead charge you the minimum of $1.50.  

Now as for the late payment.  They do tell you when your payment is due.  When you get your on-line statement(or a paper statement) there is a DUE DATE listed.  No company is going to constantly remind you.  Some have "payment reminders" that you set up, but that is something YOU must take the inititive to do.  Depending on the bank you may be able to set up notification to your e-mail, text messages, or even having them call a phone number.

I work for Chase and this is one of the most common calls / complaints we receive.

If you carry a balance from month to month, you're accruing interest daily. What does that mean? That means every day until you pay that balance off in full, you are being charged interest. So people think when they get a bill of $45.43 (a balance carried from the previous month) and they pay the $45.43 by the due date...there won't be any interest charges.

That is not the case.

You are STILL accruing interest on that $45.43 every day from when you're statement opened for that month, until the day you made the payment.

A lot of times this amount of interest is so small that instead you are charged a "minimum interest charge" which is $1.50 for Chase cards.

People misunderstand this minimum charge as a interest charge every month, which you will get no matter what, even if you pay in full.

That is not the case.

If you pay for what you buy by the due date, you are not charged interest. When you start carrying a balance, you're charged interest. Simple.