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JP Morgan Chase: Cold Heartless Company Deserves Bankruptcy
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NEW YORK -- I am a young struggling twenty-something who just flew off the handle with a larger complaint about JP Morgan Chase but since I had two bad experiences with the company this week, I'm going to share my other complaint. Their customer service ABSOLUTELY, politely put, leaves much to be desired. I called the company in early January and then again this week: each time to see if there was anyway they might be able to lower my APR by even a ridiculous 2 or 3% percent because even a small amount goes a long way in the end.

Each time I have spoken with the company, I have encountered rude employees and I have been told that I need to make vigorous large payments for @ least 6 mos before an APR can be lowered even by 1%. Meanwhile, every other bank card that I own has generously lowered the APR by an estimated 5% based on my good standing without making demands. Although I have good standing with JP Morgan Chase, that doesn't matter to them.

In fact, when I spoke to management on the phone this week, they didn't even believe me when I mentioned other bank cards have lowered APR percentage rates. In early January & this week, I explained to Chase that I have made early & on time payments for the previous 6 months, paying more than double the minimum on my cards. That didn't matter! After first being given this news (in January), I struggled to pay double what I was already paying (nearly 5x the min) in the last two bill cycles, still I'm told it's just not good enough.

I'll have to wait another 6 months for them to review the account. This company deserves bankruptcy. I say that with my freedom of speech, one freedom America can't take. Again, I will continue to urge people to complain. A 5 minute phone call to the Attorney General or the Better Business Bureau is all it would take. If you don't have a Chase credit card, don't get one. If you don't have a Chase account, don't get one. Spread the word. Chase is bad news... they don't know how to treat their customers. I'd be embarrassed to work for them.

Aggravated & Irate! - Disgusted by JP Morgan Chase Bank
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NEW YORK -- JP Morgan Chase Bank has so disgustingly decided that they are charging every single customer a $10.00 fee ON TOP OF the finance charges for anyone that has a balance! This is actually LEGAL UNDER THE LAW and they will charge the $10.00 fee on every individuals' card every month until each person has a balance of $0-.

This is the most absurd and unfair thing I have heard this week. I had heard the rumor early in the week & just read the article now. I am a struggling twenty-something graduate student with a full college work load and a full-time job (trying to find a second job) and a full plate of bills that I struggle to pay. How is this fair?!

I plan to call Chase & though I know my screaming and yelling won't do anything over the phone, I plan to scream anyway. I will complain to every level of justice that would listen- the Attorney General, the Better Business Bureau, radio stations and TV channels. This is absolutely heart-wrenching and sickening.

Isn't it bad enough that all of us are struggling in today's world? I am a responsible young individual who does have cards maxed out or close to the limits. I pay all of my bills early & on time, paying triple the min balance every month but still there remains a balance. College students do use credit cards, it is inevitable.

I only use them in emergency situations. I have tried so hard and struggled so much to pay off my balances, like so many other Americans (I can only assume). How can we allow this to happen? JP Morgan Chase is a company that is robbing the American people and anyone that represents that company should be absolutely ashamed! America used to be a country I was so proud of & New York used to be a state I loved but this country and this state is very quickly turning into a melting pot of everything I am against.

JP Morgan Chase deserves to go bankrupt. If enough people complain, maybe we can achieve that! I plan to pay off all of my cards as quickly as I can, as does everyone I have spoken with. I will cut every Chase card I have. My voice will be heard. I am enraged with this news. They have some nerve.

What happen to companies that cared about the American people? Oh, that's right- maybe I forgot what country I live in. That's the old America, the America my grandparents & parents grew up in. I urge everyone to complain along with me. If we allow this to happen, Chase will only lead other companies to do the same thing to us.

20+ Years Of History Means Nothing To This Company
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ROCHESTER, NEW YORK -- Today I received a statement in the mail detailing what I owed, what was due, etc. I was very surprised and annoyed to learn that a $39.00 late fee and almost $17.00 in finance charges were included. I was surprised because I paid the last bill I received (as I do all of my bills - always on time and in full, without exception).

I immediately phoned the customer service department and was told they were not going to do anything about it. I escalated the call to a supervisor who echoed that position. I was told the following: "The statements we send are a courtesy; it is your responsibility to know how much you owe and when" and "We are not the post office; we can't control whether you receive your statement or not."

I asked if the position they were taking is really more important to them than over 20 years of having me as a customer. Her response? "We understand that occasionally a customer will feel the need to end a relationship upon hearing news of this sort" (or something like that). I was stunned.

I plan to visit my local branch tomorrow and see if sense prevails in person. If not, I plan to cancel my credit cards, close my three accounts, encourage my family to do the same, and at every opportunity, share my horrendous experience with anybody I can. JPMC may get $55.00 from me, but if I can help it, they will lose much, much more than that in future business.

I might even understand this stubborn position if they had actually lost something tangible, like a piece of merchandise or something, but to not budge on an arbitrarily determined 'late fee' and some finance charge seems ludicrous. I have fantastic bill-paying history with not only Chase, but everybody; you would think that such things would be considered before taking the stand they did. Too bad, Chase; it was a nice run while it lasted. Now I will find a new credit card provider and a new bank. And I will encourage everybody I know to do the same.

Chase Card Unit's Weak Q4 Could Extend Into 2008
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Chase Card Unit's Weak Q4 Could Extend into 2008. While the writedowns did not come close to Citigroup's staggering total a day before, JPMorgan Chase's weakness seemed focused on the card unit, with the CFO of the company conceding further weakness in cards going into 2008.

Banking giant JPMorgan Chase & Co. Wednesday reported a drop in earnings for the fourth quarter of 2007 largely due to a 23 percent slide in earnings in its Card Services unit which saw provisions for credit loss increase 40 percent. Charge-offs and delinquencies in the credit card unit also climbed higher with the company's chief financial officer saying card performance will continue to weaken in 2008.

For the quarter, New York-based Chase (NYSE: JPM) reported revenue of $3.97 billion in its Card Services division, up 5.9 percent from the same period in 2006. But provisions for credit card losses soared 40 percent to $1.8 billion, sending earnings for the unit to $609 million, down 15 percent compared to the final quarter of 2006. Earnings for the card unit were down even more sharply – nearly 23 percent – when compared to the third quarter of 2007. The card group's managed net charge-off rate jumped nearly 13 percent in the quarter to 3.89 percent. The 30-day managed delinquency rate increased 11.1 percent to 3.48 percent.

On a conference call early Wednesday, CFO Mike Cavanagh told reporters that the card unit will face more trouble in 2008. He said that credit card spending had slowed for the company in December, portending lower revenue going into the first quarter of this year. He also anticipated that the charge-off rate for cards will climb to 4.5 percent in the first half of this year. Total charge volume for the fourth quarter increased 2 percent to stand at $95.5 billion. Total managed card loans stood at $157.1 billion at the end of the quarter.

The credit card unit of the bank, which brands its card products under the Chase name, accounted for nearly 22 percent of corporate-wide revenues for the quarter and 20.5 percent of the firm's earnings. Overall, JPMorgan reported earnings of $2.97 billion for the fourth quarter, down 34.4 percent from the fourth quarter 2006. Corporate-wide revenues were up 7 percent to $18.3 billion in the quarter, primarily on the growth of the Retail Financial Services and Corporate Services divisions.

Deferring Your Payments for 2 Yrs. Due to Unemployment
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CHICAGO, ILLINOIS -- I am writing to find out if anyone else in the U.S. has come across the gross negligence of J.P. Morgan Chase in handling customers that went on their program to defer your payments due to unemployment or disability. After the 2yrs. were up, Chase contacted me and said they were sending me a contract to fill out to have my payments start back up again. After 2 weeks of not receiving the contract I called to find out what happened. They said I received the contract and to sign and return it, that I was to start paying a specific amount by a certain date.

I called several times and each customer service representative gave me a different answer - one could not pull up my contract, one said my balance was paid and I owed nothing, another call a representative said I owed $530.00 and that was the remaining balance. After 3 months of calling, not receiving the contract or credit card statements and not knowing where to send the money, I received a summons to court for the balance. They froze my checking account until the court date.

I had a lawyer appear for me and he spoke to Chase's Lawyer who said not to worry, we would work it out. After Court my Lawyer left Chase's Lawyer numerous phone calls for up to 2 months with no response. In the meantime Chase keeps charging me Interest at 30% since January of 2007. I also found out they sold my balance to another agency by running a credit report. I never received any correspondence from Chase or this agency other than a summons to court this January.

I don't think they should get away with charging people high interest rates and racking up the charges by ignoring a customer who is trying to pay back a debt and can't. Did they forge my name on a contract I never received or signed? Anyone else getting the runaround by J.P. Morgan Chase?

I Sued Chase and Won over $7K
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CA, CALIFORNIA -- My mortgage with Chase (formerly Washington Mutual) included PMI because the LTV was over 80%. The problem arose when I attempted to have the PMI removed three years after the loan origination. Chase not only delayed but also made one specific statement that is illegal. I sued in San Mateo County Small Claims Court. I was awarded a judgment of over $6K (the total cost of ALL PMI payments) and less than a year later actually collected over $7K (because of additional fees and interest). The above information is public record.

I have no doubt that Chase (and probably many other banks) have duplicated this illegal behavior thousands of times. The letter they sent to me with the illegal statements was a generic form letter that they send to anyone inquiring about PMI removal. I received at least two copies of the same information from them at different times in this process. I am happy to share this information and a strategy to pursue reimbursement from Chase or any mortgage lender. Send requests for information to "**. I am unable to reply via the "" site.

Checking accounts
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RACINE, WISCONSIN -- I went online yesterday to check my account and it said that there was a hold on the account. So I called the bank and they said "yes we are closing it because we choose not to continue with you as a customer anymore," but I could not get my money out for 10 days. I had never overdrawn on my account, always had money in there, and they said "I know."

I don't know why they are closing it. Now I can not have my money and they will not let anything go in or out of the account. They also said they will not pay for any fees I get from other companies I sent money to. So now I have to pay all the fees and I have no damn money to do that until I get mine in 10 days. Never bank with them. They do not run a biz very well and their customer service sucks and are very rude. Even the managers. If this ever happened to you let me know what you did.

Chase Bank Late Fees
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NORTHEAST, OHIO -- On May 21, 2008 I contacted JP Morgan Chase Bank concerning my VISA account. Late payment and finance charges were added in the amount of $42.84. I was told they would not be reversed because my credit card payment was received past the due date. I countered and said it was more likely a processing problem on Chase's part than a postal problem or mailing my payment late.

If it had been my fault, I would have paid the late charge. I closed the account and Chase Bank kept adding late charges and finance charges every month thereafter on the preceding late statement charges. It does not take 7 days to process a payment when ACH and Electronic Debit are available. Most transactions are closed in 3 days of mailing time.

I also brought up my good payment history, but this was ignored. I have proof that in recent and prior months Chase has posted my payments in as little as 4-5 days and not 8 as in May. I have contacted all credit reporting agencies because of the adverse reporting by this bank. In fact now I have had letters sent to me by other creditors regarding my future with them.

Because of past and current actions, I have filed a complaint with the Comptroller of Currency that investigates grievances against banks with “N. A.” after their name. I am now looking to file a lawsuit or join an Ohio class action lawsuit against JP Morgan Chase Bank, N. A.

Counterfeit Check
StarEmpty StarEmpty StarEmpty StarEmpty StarBy -
Rating: 1/51

MIAMI, FLORIDA -- Some thief orders temporary checks of my account and did two checks. One for $1,738.00 and the other for $1,789.00, (thief) went to the bank and cashed these checks. When I went to the bank after my accounting notified me, the bank denied my claim because it was over a month old.

Why didn't the teller verify my signature? And after my real check came to the bank with the same Ck No. the bank did not return the check or notify me. This is supposed to be a red flag TWO checks with the same number and different amount. Now the bank doesn't want to take responsibility of their negligence.

Chase Mortgage Is a Complete "Bait and Switch" Operation
StarEmpty StarEmpty StarEmpty StarEmpty StarBy -
Rating: 1/51

COLUMBIA, MARYLAND -- Chase reached out to me via multiple phone calls and federal express packages telling me that I was approved for a no cost modification of my first mortgages on two investment properties. Then, after I called to inquire, I was sent two, full document packages and my loans were "put into processing".

Note, these modifications were for on time paid, first mortgages, non-distressed properties. I did not reach out to Chase for a refi or modification. After I submitted the documents, there were many unanswered emails and phone calls from me to Chase inquiring as to the status of my deal. Now, Chase is telling me that my rate lock has expired and that they will continue to process my loans only if I agree to pay $3850. I believe that this process is their scheme. Do not fall for it.

Additionally, I selected a title company other than the one that Chase uses--Maryland law requires that borrowers have the right to select their title company. My selected title company was never contacted by Chase to commence title work. However, I was told by the Chase representative that my files were waiting for the title work. This could not have been true. Warning--do not bother with Chase and their promise of a no cost refi. They simply want to charge you fees.

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JP Morgan Chase Rating:
Star Empty star Empty star Empty star Empty star
1.2 out of 5, based on 9 ratings and
62 reviews & complaints.
Contact Information:
JP Morgan Chase
270 Park Avenue
New York, NY 10017-2014
1-212-270-6000 (ph)
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