JPMorgan Chase Credit Card Complaint

JPMorgan Chase Credit card department,

Payoff process Georgia

For online automatic payments, Chase only offers the option to pay the minimum monthly payment or the full balance. There is no option available to automatically pay more towards the principle ( minimum + additional toward principle ). Chase, on a monthly basis, sends balance transfer / promotion checks to customers enticing them to borrow money against their available card balance. To me, this is a classic " repayment trap '' designed to get customers to transfer balances to their Chase card, then by not providing an option to pay more than the minimum monthly payment in order to expedite the repayment of the principle, Chase is able to collect more interest on higher credit balances. The customer must manually adjust the " automatic '' payment in order to pay additional principle on a month by month basis, which hardly seems convenient or automatic.