JPMorgan Chase & Co. Credit Card Complaint

JPMorgan Chase & Co. Credit card department,

Other fee Ohio

I mistakenly paid $70.00 less than the statement balance on my Chase Freedom credit card - ~ $2200.00 rather than $2200.00. So, their tactic is that the ENTIRE balance is subject to the borrowing interest rate ( that is, the usual grace period is null and void for the credit card ) - not only for the previous statement period but for the following statement period until the payment is received. So, I had interest charges of approximately $10.00 apiece for two consecutive months ( by which time the balance was completely paid ). Essentially, $70.00 borrowed for 2 or 3 weeks resulted in $20.00 interest charge which would amount to an effective annual interest rate of almost 400 %. I hope there could be some reform in the laws so that only the UNPAID portion of the credit debt could be subject to interest assessment.