JPMorgan Chase & Co. Credit Card Complaint

JPMorgan Chase & Co. Credit card department,

Payoff process Ohio

Received a Balance Transfer offer from Chase Bank which explained the terms of 0 % interest for several months and a - % transaction fee. See uploaded documents. I used the on-line transfer mechanism to complete the transfer of an account balance from a - 's credit card of $15000.00. The Offer documents contained no reference to any special repayment terms ( method of calculating ) that would be implemented if I took advantage of the offer. I have been a long term customer of Chase with an 18 year experience base with payments regarding my credit card account. At no time during those 18 years did I ever encounter any minimum repayment terms that were more than - % to - % of the account balance. When I checked my account several days after completing the transfer I saw that a payment was due of some amount ( was not in excess of $150.00 ) which I promptly made a payment of $150.00. several days or maybe 10 days later I looked at the account on-line to make sure that my payment had been recorded wherein I discovered that the upcoming minimum payment due was $750.00 ( by memory


out the obvious error. But the Minimum Payment has not changed. The situation prompted 2 or three phone inquiries to Chase where in I was first told that the minimum payment calculations had recently been changed to be - % of the unpaid balance. I asked that to please tell me when and how such notification occurred. To which I was told that a letter would be mailed to my home address. I was not told that these new terms were made known to me or that they were included as part of my account or that these re-payment terms were a part of the Balance Transfer offer. On my last call ( today -/-/2016 ) the man who looked at my account began by telling me that minimum payments are calculated at 1 % of the unpaid balance plus interest and any late fees or penalties. He then stopped after looking at my minimum payment and said that the rate was - %. This is a clear case of unfair and deceptive consumer practices. An offer was made, of which I accepted and then new terms are applied to the transaction which will put my account in default and result in additional fees, penalties and charges. I want the repayment terms to be established at no more than - % of the unpaid balance and any extra fees, penalties or interest charges to be refunded.