Read this if you have a Chase credit card!!!!
 

This is a new low for a credit card company.

I got a tiny piece of paper in the mail today. It was a change in terms notice from Chase, however "Chase" didn't appear anywhere outside the envelope...it looked like junk mail.

I open it up, and in tiny legalese print, which I had to read 3 times to fully understand, it says that basically there is no more grace period for purchases.

When you make a purchase you are charged interest from the day you make the charge until the day you pay it off.
No more paying it off at the end of the month to avoid finance charges.

These sneaky mofos just lost a customer and if you have a Chase card I strongly suggest you consider another bank for your credit card needs.

thanks, i will cut mine right now

I haven't received that yet but I will keep an eye out for it thanls.

Always with small letters...

thanks for the heads up

Wow thats fucked up

Something is missing here.

Damn, I talked to them an entire half hour tonight and hadn't heard anything about it.

Bullshit... dont listen to this bozo! You still have the 25 day grace period as before however (when you DONT pay the balance in full) they charge you interest from the TRANSACTION date not the POST date anymore. Meaning you will pay an extra day or two in interest on your purchase.
Call them yourself and you will see.

i'm pretty sure they haven't removed the grace period, i think they made a change to a few of the sentences but you need to read them in the context of the entire terms(old terms with new sentence)

if that makes sense. basically, pay off your card at the end of the month and you are good :)

that can't be right. I have one chase card.

Ok Mr Two Posts.

QUOTE
"GRACE PERIOD. The Grace Period or Grace Period and Accrual of Finance Charges section of your agreement is amended.....We accrue periodic finance charges on a transaction, fee, or finance charge from the date it is added to your daily balance until payment in full is received on your account"

i think that is the amended terms you received, which is meant to be read in the context of the existing terms where it was changed. i think that is where it would explain your grace period when you pay off your card at the end of the month. i think they just changed how they calculate finance charges, so that would change nothing if you pay your bill off. even if you don't i think it only changes it by a few days.

i think i said "i think" like 20 times in that post. i'm tired :)

post count does not make a poster... remember that.
i think the key words in that sentence is (until payment in full is received on your account)
makes sence now?

Thanks. Is that legal?

re-read it, and then get out a business dictionary.

I used to work for a company that Chase purchased. Credit card companies do some evil, awful shit to people.

One guy had $40,000 balance. He always paid Chase on time. Never missed paying it on time. He had some kind of issue with a total different card company, so Chase decided to take his interest rate from 10% to 27%. On $40,000. That was just a big :321GFY from Chase to the customer.

that's pretty fucked up.
thanks for the heads up!

I'm waiting for some cash money from refinancing my house and the first thing I'm doing is paying off all my crap credit cards, Chase first.

First time I ever heard of something like that, you must have read something wrong....

A bank with sneaky fees?

NO!!

I'm with them too. Just started sending emails to find out what's going on.

damn if thats true, that is fucking bs.
Good thing I'm not with them

I can see how people can get confused

reminds me to cut that piece of shiet right now