JPMorgan Chase & Co. Credit Card Complaint

JPMorgan Chase & Co. Credit card department,

Payoff process Pennsylvania

I have a Chase Credit card. I took advantage of a promotional offer to have 0 % interest for a year. That worked fine. My minimum payment went toward paying down my balance. When my promotional period ended, I took another amount w/0 % interest for a year. Now, a portion of my balance is charging interest, and a portion of my balance has 0 % interest. They add the interest based on the higher balance to that higher balance every month since my promotional period has ended. That makes sense. But, now when I am making my minimum payment, they are not crediting any of my payment toward the balance bearing the higher interest. Therefore, no part of my payment is being applied to the interest that I was charged. They are crediting the entire minimum payment to the balance w/no interest. This is causing my other balance to increase by the amount of interest charged each month, plus I am now getting charged interest on the interest that has been added each month. I have not been allowed to have any part of my payment applied toward the monthly interest charge! I thought new rules existed that prevented


If all I had was the - balance that is in the promotion, my minimum payment would be less then what it is for the entire ~ $4000.00 balance on the account at this time. I know this, because I only had - minimum payment when I had ~ $3000.00 promotional balance. I do n't understand why they would be allowed now to apply ~ $75.00 minimum payment entirely to a promotional balance of - $1000.00. You would think that they could only apply the minimum payment proportionately to the balances. For example, Minimum payment = $75.00, where $19.00 is applied to the - balance and $56.00 is applied to the -. Then, any extra amount paid over the minimum would go to the higher balance. Is it really true that they ONLY have to apply the amount OVER the minimum payment to the balance with higher interest? If this is allowed, it should n't be. Cunsumer beware of taking a subsequent promotional offer before your first one is paid for!!