JPMorgan Chase Credit Card Complaint

JPMorgan Chase Credit card department,

APR or interest rate California

Chase bank is assessing interest to credit cards based on a different formula than what is written on their disclosure. Even though I paid off my full balance on my credit card, Chase still assessed $50.00 in interest to my account. Chase bank credit card disclosure from their statement says the following- To figure your periodic interest charges for each billing cycle when a monthly periodic rate ( s ) applies, we use the average daily balance method ( including new transactions ) ''. The statement then says- Subject to any interest-free period for new purchases, we will begin charging interest from the date a transaction ( including any balance transfer, cash advance or overdraft advance ), fee or interest charge is added to your daily balance until YOUR ACCOUNT IS PAID IN FULL. My objection is the following : Chase says they use average daily balance in order to determine balance subject to interest. They then say interest is added until you account is paid in full. By using an average, once an account is paid in full, that means interest is no longer assessed. The average of any number with - is -.