Does Chase move credit card due dates forward to maximize late fees?
Here is an accusation from someone that appears to have researched what happened to him and found plenty of others that had the same thing happen; Chase moved up his credit card due date by just a few days without any noticed, in an apparent attempt to make payments late and charge late fees.
The scam was fairly obvious to me. This particular tactic by JP Morgan Chase was to jump their customer’s due dates back in order to force a huge influx of late fees. Since only a small percentage of customers ever bothered to call in to complain (as I did), then even if they refunded the late fee in those particular cases, they were still left with a huge population of customers who simply caved in to the abuse and didn’t bother, or didn’t care enough, to complain.
It seems their strategy was to move the dates forward just enough so people were more likely to barely miss the due date.
Bad bad Chase, Fees & charges | admin October 29, 2011
