Chase Mastercard Interest and Credit Pay Off Scam Wilmington Delaware

If we just band together, stop paying and crush all of these banks and creditors, WE ARE ALL SCREWED!! The banks and credit card companies (all banks by the way) are all fairly well protected. What we should do; pay our bills, stop overextending ourselves, be patient and wait to make a purchase until we have at least some of the money to purchase something we want, and we should be a little more responsible about how we do business or we should take it back to the old days and either we should pay cash or we should trade items or services for items or services that we want.

The key words here are "our" and "we". The contracts were signed, whether or not we read and understood them is moot (that is OUR responsibility, not the bank's), WE spent the money, we are enjoying the items or services. I love living in the US, and I am proud to be a citizen. However, WE let OURSELVES get into these predicaments, and we blame everyone else when we are called on the carpet to pay them back.

I do not support excessive charges or harrassment, and I believe that the banks are responsible for getting refunds or errors taken care of expediently. However, we, "The Barrowers" need to fulfill our responsibilities more often to be listened to by the banks. Just look at 90% of the complaints here refer to at least late if not missed payments. Heck, I've done it.

In reply to Jason#7 we have become "lazy ignorant and stupid", which is why the companies who are energetic and creative (who also issue credit cards!) are making millions if not billions off of us who don't read the agreements that we sign. But we were too busy, probably changing channels, with the remote. By the way, I dare you to stop paying, the new banks that crop up after the old ones "crumble", I bet they read credit reports and scores too.

Fish, WI

Banks need to step back and look at the big picture. They don't exist without the PAYING customer. Notice the operative word here.

If the bank can change the terms anytime they like, so can the customer! After all, fair is fair, right?

Don't let these greedy, arrogant PREDATORS get away with it. WALK AWAY!! FORCE them to re-negotiate or force them to choose to not get paid at all. The power is really with the customer, NOT with the bank. The customer has very little to lose, the bank has everything to lose!

Can you imagine the reform to the industry if every customer who is getting robbed by one of these predators JUST WALKED AWAY? You would see big banks crumble to the ground overnight!

This is what I want to see, big card isuers like AMEX [the worst],Chase, etc.. filing for BK, firing overpaid executives or lowering thier wages down to what we work for.

I'm waiting for the time customers band together and make it happen. It CAN happen.

Jason,you say Americans are stupid,lazy and ignorant.Well,why do you still live here? America is the greatest country to ever exist.And Americans are equal to anyone in the world.

In fact most people in every country are smart,honest,hardworking and productive.And they want to make a positive contribution to the world.

Your opinion stinks and it is the opinion of too many people in businesses that prey on people.

There are too many businesses today that rely on getting people to make bad decisions.

Credit cards at high interest are no different than cigarette makers doing every deceitful thing they can to get people to buy into their harmful products.

The true reason for any honest business to exist is,first and foremost,to create value and to share that value with the world.

The primary reason people give to be communist is because they believe that people can't be trusted and that all they want is to make a profit,no matter what.

The truth is that most people can be trusted and want to do the right thing.But there are always people who try to only take from society and contribute nothing.

The real problem is that banks have become predatory. They do everything they can to deceive and trick people. They know every trick in the book to entice people into bad decisions.

They don't want people to understand.

This is not necessarily by anyone's design,it has evolved through the inherent environment.

The solution is the same as dealing with other bad businesses.Get the word out so that everyone knows what's really going on.Reveal the truth and the good people will make it right.

Thomas,
While I agree with paying off your balance in full each month, that doesn't work with Chase. Unlike every other credit card I have ever seen, the balance you see at the top of a Chase statement is not true. If you pay that entire balance before the due date, Chase still charges you finance fees from the date of the statement to the date of the next statement. They have no "grace" period like other credit cards do.

is to pay your charges off *in full* every month. Then, and only then, you will have no interest charges. If you FAIL to pay your charges off *in full* for a particular month, then you will get dinged for interest the next two months even as you DO pay your charges off *in full* in those months. Fun, huh?

The 'two-cycle billing game' is very complicated but basically you pay for what you had owed last month because you had a carryover. My problen, when I read the comments about two-cycle billing in the CC agreement, was working back to the APR. It is like trying to understand certain IRS forms like income averaging or taxibility of SS payments: If you stop to *actually think* about what the form has you doing, you will scream.

So I still think that the only way to avoid a CC migraine is to pay your charges off *in full* every month.

is to pay your charges off *in full* every month. Then, and only then, you will have no interest charges. If you FAIL to pay your charges off *in full* for a particular month, then you will get dinged for interest the next two months even as you DO pay your charges off *in full* in those months. Fun, huh?

The 'two-cycle billing game' is very complicated but basically you pay for what you had owed last month because you had a carryover. My problen, when I read the comments about two-cycle billing in the CC agreement, was working back to the APR. It is like trying to understand certain IRS forms like income averaging or taxibility of SS payments: If you stop to *actually think* about what the form has you doing, you will scream.

So I still think that the only way to avoid a CC migraine is to pay your charges off *in full* every month.

is to pay your charges off *in full* every month. Then, and only then, you will have no interest charges. If you FAIL to pay your charges off *in full* for a particular month, then you will get dinged for interest the next two months even as you DO pay your charges off *in full* in those months. Fun, huh?

The 'two-cycle billing game' is very complicated but basically you pay for what you had owed last month because you had a carryover. My problen, when I read the comments about two-cycle billing in the CC agreement, was working back to the APR. It is like trying to understand certain IRS forms like income averaging or taxibility of SS payments: If you stop to *actually think* about what the form has you doing, you will scream.

So I still think that the only way to avoid a CC migraine is to pay your charges off *in full* every month.

is to pay your charges off *in full* every month. Then, and only then, you will have no interest charges. If you FAIL to pay your charges off *in full* for a particular month, then you will get dinged for interest the next two months even as you DO pay your charges off *in full* in those months. Fun, huh?

The 'two-cycle billing game' is very complicated but basically you pay for what you had owed last month because you had a carryover. My problen, when I read the comments about two-cycle billing in the CC agreement, was working back to the APR. It is like trying to understand certain IRS forms like income averaging or taxibility of SS payments: If you stop to *actually think* about what the form has you doing, you will scream.

So I still think that the only way to avoid a CC migraine is to pay your charges off *in full* every month.

Chase is the ONLY credit card company that I have ever spoken too that won't or just plain can't give you a pay off amount. If you call them and tell them you want to pay your entire balance immediately so there will no longer be any kind of balance on the account, they can't give you a total. I have never seen a company that is either unwilling or unable to figure out a pay off amount. Seems fishy to me. That's why I know longer deal with companies like Chase.

Thank you Pablo. Maybe you should hook up with Kelly from Detroit and teach her the differences between mortgages and credit card loans. Thanks Kelly for reading all of my rebuttle before attempting to make a statement.

People don't realize that interest on credit cards is accrued based on your AVERAGE MONTHLY BALANCE so that if you paid it off on the 1st, the AVERAGE balance for the month would still be nearly the full amount even though you've paid it off. Thats how its calculated. You may only have 80.00 left but the ave balance for the month may come out to 3,000. You then pay interest this month on 3,000 untill next month. Next month your ave balance will show 80.00. What I do when paying off credit cards is overpay. This assures me that now I have fully paid off the card and now I'll have a credit balance on the card that'll be refunded on closure.

Jason maybe you should learn to read. If you get a mortgage, the bank or your lender CAN and WILL quote you a pay off amount. Once you've paid that amount they don't turn around and bill you more interest on a zero balance. Neither do any of the 10 credit cards I have. If I pay the balance by the due date, that's it I don't owe any more. You might due well by noticing the other complaints against Chase.

The writer accepted responsibility for his charges and even paid them off. Credit card agencies must love you. You are apparently more than willing to pay interest on a zero balance. Or even pay $282 finance charges on $88. Do you loan shark much?

Next time Jason I suggest you read and understand what you are reading before you make a lame response.

Mark,

Here's what I don't get. You get a credit card, you get your agreement with your credit card. The agreement states that the bank can raise or lower the interest rate at anytime for any reason, however they like. If you had read your agreement then you would know this.

The bank is not your friend. I've never known a bank to be anyones friend. I think people already should know this by now, don't you. They are not in business to make you feel like your special. They loan you unsecured credit. They don't have the lean to your home or the keys to your car. They can't come out and take your house from you if you don't pay. When you are late even once, banks see you as a risk. That's how unsecured credit works. What I don't understand is why people don't know this already.

I understand that 29.99%V is a high rate, but you give them the right to do this when you take out a credit card account. I hate the excuse that "the disclosure is in fine print, you expect me to read this." YEAH! DUH! You don't buy a house or car without reading your contract do you? I would hope not!!!

If you don't want to live with the consequences of having a credit card, then guess what....DON'T GET ONE!!

Banks are in business to make money, not to be your friend or make you feel like your a special kind of person with special needs. GIVE ME A BREAK!

If you don't have the money to buy something with...THEN DONT BUY IT!

Americans are in more debt now then ever...Want to know why...BECAUSE THEY'RE STUPID!

We are. I hate to say it but we are.....

There's the first part.

Second...

Banks run business one month at a time and the information you see on your statement each month is information from the previous month..You buy something in May and you get billed for it in June. Jesus! When you pay your electric bill it's not for the month that you are in that you get billed for. It's the previous month. So when you first pay your entire "Statement Balance" you are charged the interest for the days you have a balance with the bank...again "Read your Agreement"....

Example: Your closing date is 7/05...You have a balance of $1000.00, 10 days later your payment is recieved by the bank. You had 10 days that you had a balance with the bank. The bank charges you interest on those 10 days that you have that balance. They have no idea how many days it is going to be from your closing date until they recieve your payment so they don't know when to stop charging you interest. When your payment get's there, interest is halted and your balance is $0.00, for the moment. Now the bank only bills you once a month, so on 8/05, which is your next closing date, they add all the days from the previous month that you had a balance (10 days) and they bill you for it. Now, this is your payoff balance, and if you continue to payoff your balance each month then you are no longer paying interest. It's called 2-cycle billing, agian.."read your cardmember agreement"...These are legitimate charges and fully legal.. There's no ripoff, everything is disclosed to you in advance of you using the card. The problem is people are lazy and ignorant and do not want to read the "fine print". I have credit cards, and I read the agreements and it takes me a full 10 min., maybe!

If you don't understand something on the agreement, because you have no idea what your doing. Then call the customer service and ask.