Chase Chase Card Services THE PAPER CLIP RACKET Wilmington, Delaware

To BBB, Congress,
There is a fine law that limits late fee penalty to $35.00. I have one credit card company and another that break that law. They get around that law by charging increased interest to late customers for SIX MONTHS, from Xteen% to raised up to 29.99%. So it can cost hundreds of dollars for sending a bill in a day late, because you had to visit your sick mother in the hospital.

Here is the exact language from the Chase card's fine print (Zoomed in fine print on next page):

" Your payments by mail must comply with the instructions on this statement. ...Write your account number on your check... the envelope cannot contain more than one payment or coupon; and there can be no staples, paper clips, tape or ...."

".... you do not follow our payment instructions, crediting of your payments ... delayed for up to 5 days."

The cards are Chase, and Citi. There probably are more companies that do this. They are robbing unfortunate late payment people of maybe millions of dollars a year. Late for various reasons: ran out of money near end of month, had to wait for salery check, had to wait for social security check, had to wait for the check to go through at the bank, got possessed and put the credit card bill under some books, went on vacation, had mail delayed by post office because they moved, the credit card company took 5 days extra because the number was not written on the check (TRUE, it is done by Chase!), - and up to 5 days extra if a staple or paper clip is used! , ... these are not criminal offenses, not people deliberatly plotting evil against the credit card company to do them harm by sending a check in late... HARM? So what if 1% is late? They ought to have 2 months or more past the payment due date to pay. The multimillion dollar credit card company hardly notices. They make up a deadline, and then they make up a penalty claiming you did bad. But it is bad of the bank to make up late fees.

Please pass a law against this, or arrest them for robbery.