Chase Manhattan Bank Complaint - Bad Business Relations
Recently I took advantage of a balance transfer offer with my Chase Mastercard. I had a current balance on that particular card and chose to pay it off before I had the new amount transfered to the Mastercard. One thing I have learned over the years with bank cards, is that in a balance transfer situation, your payments go towards the promotional amount with the low interest rate first. Once the transfer amount is finally zeroed, then your payments will start to pay down the purchase amount, which is usually at a higher interest rate. This is why I took caution at trying to find out the actual payoff amount on that card before I did the transfer.
Problem with Chase is, unlike most other bankcard companies, they for some unknown reason cannot give you a payoff amount. If you push a little they will usually give you an estimated amount. Often they will advise you to pay a little more than the estimated amount and get a credit back, as opposed to not enough and still have a balance. The evening I had spoke to the customer service rep, it was 1:00AM. I found out that Chase must outsource because a barely audible gentleman who could barely speak English came to my assistance. I was very clear and concise that I wanted to get at a zero balance, and when he gave me the estimated amount, I specifically asked him, "would that estimated amount for payoff include any phone transaction fees". He assured me it would. A week later,I had transferred another amount to the supper 4.99% offer on that Mastercard. Problem is, is that even after all my caution to make sure the balance was zeroed, I somehow have a small balance left on it, and now, as I mentioned earlier, I am paying 8.99% interest on a mere $2.32 that was apparently, according to customer service, from the phone transaction fee.
For all general purposes, the amount in question will probably never amount to much. It is the principle of how they conduct business by refusing to give an actual payoff amount like most other institutions gladly will do. As well, after speaking to an account manager about having the amount adjusted considering what I was originally assured (in that I was paying enough of an amount as to avoid this kind of thing), she could only continually cut me off and read to me a protocol reason of what that charge was. Duh! I was telling her what it was. What she was refusing to address was that the whole thing was wrong and it should not have happened in the first place. And of course when I asked to be moved up the ladder to speak to her supervisor, I was forwarded to a voice mail which informed me that I would be called back within 24 business hours. We will see if that happens! I have been a customer of Chase for over 15 years and it never raises to amaze me how they, unlike other institutions I have dealt with, seem to always be so elusive, and devious of there handling of my...the customers'...business.
I am thoroughly distraught at this new escapade and will find out soon enough if Chase wants to keep me as a customer. I have no problem transferring that new amount to another card. Funny, usually just as you pay a card off, they are always eager to give you the prime offer! There are plenty out there. It just irks me that I paid a high transfer fee to do this, only to be shot down in frustration. Reader aware: draw your own conclusions as what to 'not' do if you ever find yourself in a similar situation. But be wary of the practices that Chase seems to continuously employ.
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