JPMorgan Chase & Co. Credit Card Complaint

JPMorgan Chase & Co. Credit card department,

Transaction issue Virginia

This complaint pertains to a Chase Visa card. On Friday, - - 2016 I called Chase to discuss making a large purchase in a foreign currency - -. The discussion was to understand what exchange rate was used and when it would be effective. Chase told me that it was based on the exchange rate published in the - - - for the day on which the transaction settled, which would be one to two days after the purchase. I made the purchase on Saturday - -, in the amount of - -. When I saw the transaction show up in my Chase credit card account, the amount in USD was $25000.00. The exchange rate was quite different ( worse ) than what was published in the -. I called Chase today ( -/-/16 ) to discuss the matter. The representative indicated that - sets the exchange rate and there was nothing Chase could do. I called the dispute department and they refused to disallow the charge because " an exchange rate is not a valid reason for a dispute ''. The dispute supervisor, a - - - in Chase 's - - dispute call center, apologized for the fact that the Chase representative gave me materially incorrect information regarding both the exchange rate at which the transaction would take place as well as when the exchange rate would be effective. Had I been given the correct information, I would not have made the purchase. The entire reason for the purchase was to take advantage of a lower exchange rate ( i.e. the one published in the - ).