Category: Uncategorized

Not WaMu’s money but they won’t give it back!

Charles sent his credit card payment to the address listed on his credit card companies website. That company also handled some cards for WaMu. Somehow the payment ended up in WaMu’s hands and they cashed the check even though it wasn’t made out to them. Now they won’t give the money back. (story)

“New” credit card

Chase is launching the new blueprint credit card that allows you to separate and pay off certain types of purchases, such as groceries, each month (your Full Pay categories), while carrying a balance for other purchases. It gives you tools to set goals for paying off large purchases over time. Most importantly, it waves the interest between the date of purchase and the due date on Full Pay category purchases. Oh wait, my Bank of America credit card (and most other cards) already does this, it’s called THE GRACE PERIOD! Nice try Chase.

Debit cards can be dangerous

There is no way around it, debit cards are dangerous – not only do you risk overdraft fees for many small charges if you banks automatic overdraft protection is in place, but disputing a charge can be infinitely harder than with a credit card. If you do have to dispute a charge, here is a handy guide. The best advice we can give you is to stay away from using debits cards for purchases. If you do need to use a payment card, use your credit card instead and pay the bill as soon as it comes to avoid fees.

Chase’s odd definition of “high-risk”

If you have never taken a cash advance on your card, pay your bill on time, and don’t use your card often enough, Chase claims you are a high risk and will raise your interest rate. (story)

Clueless about the law

One California homeowner (and fire victim) was charged a cancellation fee for paying off his home equity line, despite that practice being against CA law. He informed WaMu/Chase about the law, but they were clueless. He took them to court, but they didn’t show. He contacted the press, and Chase finally said they would do someting about it. Is that what is necessary to get Chase to get a clue?

Willing to negotiate

According to this article, Chase may be more willing to negotiate to help customers get out of debt. It is worth a try.

Added fees to make up for lost fees

This Business Week article details how banks (including Chase) are adapting to the new credit card rules by adding new fees to make up for the onese they lose control over. My bottom line suggestion: pay attention to your card and the notices you get. Don’t be afraid to switch to a better card from a better bank.

Lost backup tape

On a smaller note, Chase apparently lost a backup tape with customer personal information on it. But, surely this could happen to anyone.

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