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JP Morgan Chase Consumer Reviews - Page 3

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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?

Chase-Inefficient Online and Telephone Customer Service
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FLINT, MICHIGAN -- Let me try to make it clear since it is a long story. I downloaded some sort of software unconsciously (my fault) last year in August when I first started using Chase, and I later cancelled this service in April this year at their local branch. At that time the banker told me they would definitely stop charging me starting from May, and they charged me again in May. I therefore sent them message online to get the refund. They then refunded me without any apology. Later I got charged again even though my account balance was still above the balance requirement.

I was confused and Chase said even though I keep the balance, they would still automatically charge me online if I don't put more money into savings account. I was kind of surprised because I was not told about this when I opened the savings account in the bank. So I closed my savings account by calling their representative (as they recommended) for 3 times and finally, that Chase lady told me everything was set. However, this turned to be another problem. Chase kept charging me from the account I closed somehow. They told me "Please call." since they couldn't do anything online.

Then I called and they told me they knew my account was already closed but it was their computer problem and I could go to local bank in person to get the refund. But I planned not to go as long as they stopped charging me from then on because after all that was not a big amount of money. However I found I was charged more this week again, and this time Chase told me a different reason which was that they didn't even see my account was closed online, which was totally different from what their telephone representative said. Chase online just asked me to call again, without any explanation or apology. I mean I don't think it's my fault.

After all I was the one who got the notice from Chase saying my account was already closed so I trusted them. I'm just wondering why Chase wants to use online system if it doesn't make any sense to them. I therefore emailed them saying "I already called as you suggested 3 times and your representative told me it was all set a couple of weeks ago. Now it's not a problem about closing my account. It's about why my closed account is still open." Today they emailed me back with nonsense response again saying "Please call to close the account." I'll have to go to local Chase in person in case they may keep charging...

Chase Warning! Unwarranted Checking Acct Service Fees!
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KENTUCKY -- Has something like this happened to you? Here's my story: December 2006 - Opened Premier Chase Savings account $44,000; Opened Premier Checking account $4,000. March 2007 - Savings balance: $40,000+. Checking balance: $3,001; Service Fee: $15.

April 2007: Savings balance: $40,000+, Checking balance: $ 864, Service Fee: $15. March's statement included a notation below the service fee amount which stated the following: "Did you know you can waive your Chase Premier Checking monthly service by keeping an average combined balance of $15,000 in qualifying checking, savings, credit, securities and mortgage loan accounts? During the statement period your average combined balance was $3,143."

April's statement did not include any of the above notations. Without question, as has been the case since opening both, the $40,000 PREMIER SAVINGS account qualified as the "waiver" for any service fees charged against the checking account. Therefore, the $30 service fees were erroneously charged. Due to illness, I did not catch this "mistake" until the beginning of May. I went to Chase to ask them about it. "Oh, that should never have happened Mrs. **! Let me take care of this immediately!" BLAH! BLAH! BLAH!

So, the $30.00 was "reversed" with a less-than-comforting explanation about the computer not recognizing my Chase Premier Savings account as the waiver for the Chase Premier checking account. Please note that, as far as I know, only my account was corrected... Not the system glitch! As for me, I cannot imagine a Large Financial Institution with a computer system that does not recognize/cross reference its own accounts! Hmmm... Wonder what Homeland Security would think about that?

Although a PALTRY amount, no offer was made, nor credit received for the interest lost during those 2 months (perhaps $.10) but as many have experienced, overdraw an account by $.01 and watch how quick the NSF notifications hit the mailbox!

But folks, the real issue here is that Chase had access to and used my funds (and how many others?) as revenue during that time. Perhaps $30 doesn't seem like much to complain about and doesn't seem to make much difference. However, if this has happened in countless other accounts, I suspect the revenues misrepresented would total a SIGNIFICANT amount.

So, is this just a small computer mistake that happened only to me or is it far-reaching in its significance? Is Chase falsely (and perhaps intentionally) charging service fees to others as well, in order to gain undue revenue? Chase is, at the least GROSSLY INCOMPETENT in this case! At the worst, if a legion of others is being charged unwarranted service fees under the guise of a computer glitch, or anything else, then Chase is guilty of and should be held accountable for FRAUDULENT practices.

Here is your chance to report recent CHASE/JP MORGAN CHASE/BANKONE UNWARRANTED CHECKING ACCT SERVICE FEES! Please tell your stories here and watch for any trends to appear. Many thanks go to those who commented on my previously-submitted review. Hopefully, this edited version addresses any misinterpretations that may have occurred.

Unfair Trade Practices
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ATTN: ALL NEW ORLEANS RESIDENTS. JP Morgan Chase has been unrelenting in their pursuit of money from me since the federal levee breaches and resulting flood of the City of New Orleans. My home is 1 1/2 blocks from the breach at the 17th Street Canal. I have spent every dime I have, as well as all the blood, sweat and tears that goes into trying to put a life back together after this horrible disaster caused by circumstances my control. My boyfriend and I have done a lot of the physical work ourselves. I was denied an SBA loan in 2005 solely because Chase lied to me.

They told me in Jan. 2005 that I had an extension and that they certainly would not give a bad report to the credit bureaus. In pulling my credit bureaus, I found that Chase had given me a bad report in December! In February 2005, they told me if I paid $850, they would be able to work with me to extend the payments so I could try to make heads or tails of this unbelievable mess. In March 2006, I received a bill for over $6800 past due. When I called to find out where the miscommunication was, I was told by 7 different agencies that I was a liar, that no one at Chase ever said that and that I had to pay the past due amount.

I went up the ladder as far as I could, and go absolutely nowhere. I have a second mortgage with them, unfortunately, and have had a time trying to keep up with the payments. I have begged them to help me on some many occasions I can no longer count them. I just caught up with them last week, and now they are calling me to find out when I will make my next payment. The due date was April 25. I just received the bill due to the never ending delays in the US Postal system to get us our mail on time. This company has me stressed out beyond belief, and continue to call, which is starting to amount to harassment.

Please, anyone in South Louisiana who has had similar experiences, please forward e-mails to **. I would be interested to see how many of my fellow New Orleanians have experienced this same treatment from Chase. Depending on how many e-mails we receive, it may prompt action from the Attorney General, or perhaps they should be sued in a class action for all of our benefits, especially those who are already carrying the world on their shoulders, as am I. WE HAVE TO MAKE A STAND AGAINST THESE UNFAIR, UNSCRUPULOUS, OUTRAGEOUS PRACTICES.

The Scam of Time Accrued Vacation Time
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NEWARK, DELAWARE -- I am an ex-employee of JPMorgan Chase Bank One and Company. I left recently to assume a new role at a better company. I have had problems with my health while employed with this company. I have had problems with unfair treatment while employed with this company and also been witnessed to blatant counts of sexual harassment.

I left September and not even a month after I left was I presented with a request to pay 597 in fees for taking vacation time that I had not accrued. Mind you I have been there for 6 years and was awarded an award to time served. I never abused any privilege afforded to me however now I am being painted like I am violator. I am getting calls at home, my cell and even at my mother residency. I have not lived at her address since 1997 she has advised them to stop call however the calls have not ended and the reps are extremely rude.

This company gives its employees 1 system that they have access to check available time and management has access to another system that has a different calculation of time. I have been given the runaround about this matter and was advise by hr that they feel that their calculation is correct and that I should refer my attorney to their attorney.

I had no idea that I was leaving the company in September. I went to a major competitor... I was advised in July and even in September to start using my time or I would lose it... We were forced to take and schedule available time. I had no idea I was leaving... But I am glad I did because I am better off emotionally. I have also found that the information they use for lending is not as accurate as the company I currently work for now... Can anyone give advice on how to fight this?

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.

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JP Morgan Chase Rating:
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1.0 out of 5, based on 6 ratings and
59 reviews & complaints.
Contact Information:
JP Morgan Chase
270 Park Avenue
New York, NY 10017-2014
1-212-270-6000 (ph)
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