JPMorgan Chase & Co. Credit Card Complaint

Balance transfer

JPMorgan Chase & Co. Credit card department,

Balance transfer Arizona

I initiated a balance transfer from Chase bank -/-/2016. No where did the offer define how much my minimum payment would be. The transfer amount was $13000.00. Unfortunately I have been using balance transfers for years and usually minimum payment is very minimal. I was shocked when I received my bill after the balance transfer took place telling me the minimum payment due was $660.00 First I called the credit card department and was told that was just the way it was. Then I went into my local bank and spoke with a banker and then the bank manager. Both of them looked everywhere, on the bill, the balance transfer offers they send and nowhere could we find how the minimum payment is calculated. The bank manager and banker did call and speak with the credit card department on my behalf as they agreed with me about how could they charge that type of a minimum payment without letting me know. Finally after the fact they sent me a brochure which in very tiny print said something about minimum payment is either - percent or - percent of the balance. The bank manager tried to speak with the credit card department to no avail. I remember them speaking about how is the - percent vs - percent of minimum payment decided to no avail. I also called the executive offices and was told they would try to help and their goal would be to adjust the balance transfer fee and would get back to me but never did. I would just like others to be aware. I have excellent credit and thank God I had the means to go elsewhere, however did cost me the transfer fee and a lot of grief.

JPMorgan Chase & Co. customer in Arizona
May 11, 2016

* Source: CFPB Complaint Database

JPMorgan Chase & Co. response to complaint:
Closed with monetary relief

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