• Report: #578764

Complaint Review: Chase Credit Card

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  • Submitted: Fri, March 05, 2010
  • Updated: Wed, February 20, 2013

  • Reported By: ScottO — Ringgold Georgia United States of America
Chase Credit Card
Internet United States of America

Chase Credit Card secret interest fees after paying off balance! Internet

*Consumer Comment: It's called Accrued Interest

*Consumer Comment: same thing here

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I paid off my Chase credit card balance. It was over $4000.  The next month I receive a bill for interest charges.  Hey, I pay off the exact balance amount that they gave me and I pay it off ON TIME!  But they still charge me intersest?  What the heck kind of racket is this?  I've called them twice but it's a waste of time.  I'm determined not to give them another dime, but a little worried about the mounting late fees and interest charges.  What to do.....

This report was posted on Ripoff Report on 03/05/2010 02:53 PM and is a permanent record located here: http://www.ripoffreport.com/r/Chase-Credit-Card/internet/Chase-Credit-Card-secret-interest-fees-after-paying-off-balance-Internet-578764. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

It's called Accrued Interest

AUTHOR: Elance - (USA)

I've worked for many Credit Card companies.  You are not being ripped off, you are just bad at math.

Interest accrues daily.  So, for example, if you owe $100 on April 1 and send in $100 dollars, the interest keeps building until your check is received.  So even though you sent in the $100, you may owe 1 or 2 dollars in interest. 

If this debt goes unpaid, it accrues additional fees and interest.  It is in your favor to pay off the residual interest. 
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#2 Consumer Comment

same thing here

AUTHOR: axamari - (United States of America)

Same thing happened to me. I paid off appx $860 and they actually held the payment until the day finance charges posted to my account. I have bank statements that show it but they didn't care. Hopefully you just closed the account and went elsewhere. I did.
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