Complaint #1651232 submitted on 11/12/2015 relating to JPMorgan Chase & Co.. Complaint relates to Credit card - Payoff process .
Complaint was submitted via Web and sent to the company on Monday 16th November 2015.
We paid off our monthly balance on our Southwest miles card from Chase and were still charged interest on the next month 's bill. I was informed this is because of a residual interest. Where if you carry a balance one month, you have to pay off at least two months in a row to not have interest. The part that bother 's me is that the statement says How to Avoid Interest " If you pay your account in full each billing period by the date and time due, no interest is charged on new purchases month to month. '' I found this very misleading. The Chase person said, yes, of course, it says " each '' which means " all '' or at a minimum two months in a row. This seemed crazy to me. So I think Chase should be required to say. How to avoid interest? Never carry a balance. If you do carry a balance for even one month, it will take you at least two months of fully paying off your bill before Chase will stop charging you interest.
| Company | JPMorgan Chase & Co. |
| Complaint ID | 1651232 |
| Date Received | 11/12/2015 |
| Product | Credit card |
| Issue | Payoff process |
| State/ZIP Code | MN 554XX |
| Consumer Consent | Consent provided |
| Company Public Response | |
| Company Response To Customer | Closed with explanation |
| Submitted | Web 11/16/2015 |
| Result | Timely Response: Yes, Consumer Disputed: No |
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