Dan writes: “I was scammed big by JP Morgan Chase Credit Cards. They apparently have “floating due dates” that we had not encountered in our 10+ years as customers but somehow February of 2007 was the magic month. They moved our due date up by 3 days, our payment was two days late. They raised our interest rate from 3.99% to 29.99%…Amazingly enough, on our March bill the due date is exactly the same as January. They claim they sent us a notification letter, but I never received one. I spoke to the worst customer service person ever, Dennis Broyles, who claimed that no one in the company had the power to change my interest rate back and that he had no supervisor I could speak with. It was outrageous.”
Wow, one day late and it automatically shoots up to the default rate? That’s malarkey! Maybe Dan could call back and say, “I never received a letter about the due date change, therefore there was not sufficient notification, and I deserve to have my APR rate lowered back to what it was before and the interest overage refunded from my bill. We told another reader something similar a few days ago and he was able to get his due date moved back and late fees refunded.
Dan sent this letter in March. When we recontacted him, he said that after trying to navigate the maze of Chase customer service, he just paid the card off in full and shredded it. He also said that after researching similar complaints online, it seems to happen to a lot of people who have low interest rates and pay their credit card automatically i.e. people Chase makes the least profit from. “Ironically,” writes Dan, “they keep sending me new offers.”
RELATED: Chase Changes Due Date Without Warning, Charges Late Fees
(Photo: epicharmus)
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Has this topic come up before? I’d bet if people researched it closer they’d find that more credit card company’s play with their dates.
Back when I still sent out checks I noticed that my bills with RBS, and Capital One began to arrive only 5 days before the due date. Later, when I did everything online the same paper bills began arriving some 20 days before the due date. After only a year of paying online the due date for my Capital One mysteriously moved up two days.
All of these things scream that they were trying to trip me up and create late fees for me.
@kalmakazee:
that’s realy funny, since most americans think the brits don’t know squat about CS
(it’s only really true in out catering industry since the pay sucks and most managers don’t let the staff directly keep tips)
After watching all 56 minutes 8 seconds of the Frontline special and witnessing changing due dates on my bills, due dates on a Sunday, etc., it’s fairly obvious that the CC companies are trying to trip you up into late payments. Maybe there’s even a little conspiracy there between the card issuers to put you into “universal default” status, as they all seem to benefit when you are.
The first thing every credit cardholder needs to realize: If you’re relying on USPS to deliver your bills from and payments to creditors in a timely manner, you will wind up in universal default at some point in your life. While their incompetence is not intentional or motivated by greed like the CC companies, USPS is your worst ally in the credit card war. Make sure you are not only paying, but receiving your bills electronically as well. That is the only way shrinking grace periods can now be managed effectively.
The bottom line is that the agreement that nobody reads pretty much gives the card issuer the legal right to do whatever they please. If you call and gripe about an unfair late charge or interest rate that was improperly reset, they may refund you or make an adjustment. But 99% of the time it’s not because they’ve acted outside the scope of what you’ve agreed to (but haven’t read), but simply because they don’t want to lose you as a customer.
In 25 years as a CC holder, I’ve been extra-vigilant to ensure I’ve never been late on a payment. And I never have. When I’m expecting a bill on the 10th of the month and the 11th comes and the bill hasn’t arrived, I am on the card’s website to pull down a copy.
Anybody who’s serious about using credit cards needs to be extra attentive to every detail, especially one as basic as the due date. I agree that Chase and other issuers are doing everything in their power to trip me up within the scope of the unilateral agreement I haven’t read. My best revenge is to beat them at their game, and by doing so, enjoy the benefits they offer–nice rebates and a free loan of money every month. That these benefits come at the expense of those paying $39 late fees and 30% interest rates, so be it. Do whatever it takes to pay by the due date, and kwitcherbeefin.
@ Fugly
Maybe my big mouth did a good job getting me outta the mess that i didn’t even start? Or maybe Santa was watching over me a little early this year, lol. Who knows what the reason is but I ain’t complain’.