JP Morgan Chase
Not so much a web site review, even though they do have a site. I never had any problems with the site actually. My issue is with how the company is run.
I had a credit card issued by Washington Mutual. It was a good card. 7.99% interest for life, unless I messed up on the payment schedule. Well Chase bought them out. You can probably guess the rest. It started with a bump in interest after the buyout. Then it went up again, and again, and again. Call and cancel the card and inform the phone rep that as to why. I told her when Washington Mutual owned the card, it was a good card and I had no issues. But when I found out Chase bought them out, I knew that they, Chase, were going to mess up the card, and they didn't disappoint me there.
Well the problem was I had a balance from the card when it belonged to Washington Mutual. It carried over. Well for those of you that think slavery is dead in the US, it isn't. The majority of the population, and I am guessing it is over 95%, are economic slaves, and the financial institutions want to keep it this way. The biggest difference between slavery when the civil war was fought, and slavery now is that back then you had to house and feed the slaves if you owned any. It cost you money to do this. Now you are forced to house and feed yourself. The financial institutions of this country are making us all slaves to them. Payments you can't get away from, late fees, overdraft charges, the water is wet and the sky is blue. You get the idea.
Back to Chase and to why avoid them. I pulled out some money from savings and paid off the card. The check cleared almost 2 weeks before the payment was due. I checked the account after the check cleared
And saw that my statement read a balance of zero. Fast forward 3 weeks. There is an interest charge on my card, AFTER the balance was paid off. Well calling and talking to a rep, who for the most part have to be polite, I couldn't get it through her head that the balance was paid off and there should be no interest charge. I got the, "If you paid it off the month before then there would be no interest charge." Nothing I could say could get it through her head that this charge shouldn't be here. I told her that, and keep in mind this phone call was recorded, supposedly, that if I am late I not only get hit with a $40 fee, but my interest rate jumps to 30%. Loan sharking is illegal, but it is okay for banks to screw people over like this everyday. The biggest problem is we have a government that allows this to happen.
I told her I never want anything to do with Chase again, the only other thing I want is a statement that shows my balance paid off. Don't contact me, don't email me. The owners of that bank could screw up a one man
Parade. She apologized, which shouldn't be her job to do that for other people. What I believe happened is when Chase found out that they weren't going to get the amount of interest from me that they were counting on, they decided to hit me with a fee and say it was interest. I told a friend of mine about this and she told me that Chase did the same thing to her daughter. Her daughter actually went to a Chase branch and paid them. Was even told by the bank rep that the balance was paid off, and had the receipt to prove it. 3 weeks later she got an interest charge.
To sum this up, I am boycotting Chase and advertising this on the back of my car. If you have any money in this bank, pull it out. If you owe them any money, get a loan from another bank, not Citi or Bank of America as
They are just as bad, and pay them off. Don't let them invest your money because I bet that you are getting charged a fee for allowing them to invest your money, even if it is an IRA.
As consumers, we have no recourse when banks do this to us.