Credit card or prepaid card -- Fees or interest -- Complaint #5290703
Complaint Overview
Complaint ID: 5290703
Company: Jpmorgan Chase & Co.
Product: Credit card or prepaid card
Sub-Product: General-purpose credit card or charge card
Issue: Fees or interest
Sub-Issue: Charged too much interest
State: Florida
ZIP Code: 32707
Date Received: 2022-03-06T12:00:00-05:00
Date Sent to Company: 2022-03-06T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
XX/XX/2022 Complaint to Consumer Financial Protection Bureau I took out a loan with XXXX and they were supposed to pay my Chase Freedom credit card in full : {$3200.00}. Unbeknownst to me, apparently their system will only accept " round figures '' and I was not told to round the amount up to the nearest dollar. Therefore, they only paid {$3200.00}. When I got a bill for {$.00} from Chase, I paid it, thereby giving the account a {$0.00} balance. However, when I got the next statement, I learned they are charging me {$37.00} for that {$.00} error. The CSR I spoke with refused to remove the excessive interest, stating it is based on the ADB. I do not feel I should be required to pay interest on an account that was ( technically ) paid in fully on XX/XX/2022, before the due date of XX/XX/2022, with the exception of the {$.00}, which was paid by me on XX/XX/2022, long before the due date of XX/XX/2022. If a loan is generated to pay off a certain amount, that exact amount should be paid, not " rounded up or down ''. Apparently banks and credit cards will do anything to get that interest. When I spoke to a CSR at XXXX XXXX, she told me several times about the " rounding up '' policy and when I asked to speak with a supervisor, she put me on hold, eventually disconnecting the call. Chase is doing the same thing on a second credit card account I have with them, Chase Slate, which has also been paid in full but the payment is not showing in my payment records. I paid {$1700.00} on XX/XX/2022, again before the due date. The account does not show my payment as of today, XX/XX/2022, but is showing a payment due on XX/XX/2022 of {$44.00}. My bank statement indicates that payment in full was posted to my checking account on XX/XX/2022. There should be NO interest charged. The resolution I request is that ALL interest charges be refunded and my accounts showing a {$0.00} balance. If and when I pay an account in full before the due date, there should be NO interest charges applied. If I close those accounts, which I would like to do, then my credit bureau score takes a nose-dive. Its a Catch 22. I also find the interest rates these companies are being allowed to charge are more like loan shark and/or usery rates. No wonder people have to file bankruptcy just to make ends meet! Thank you.
Frequently Asked Questions
What is Complaint #5290703 about?
Complaint #5290703 was filed against Jpmorgan Chase & Co. regarding Credit card or prepaid card specifically about Fees or interest. It was received by the CFPB on 2022-03-06T12:00:00-05:00.
How did Jpmorgan Chase & Co. respond to this complaint?
The company responded with: "Closed with monetary relief". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Credit card or prepaid card) and describe your issue in detail.
Can I see other complaints against Jpmorgan Chase & Co.?
Yes, visit the Jpmorgan Chase & Co. company profile at readthecomplaint.com/company/jpmorgan-chase-co to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.