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Thread: ROT IN HELL CHASE BANK

  1. #1
    Administrator Unclebuck's Avatar
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    Default ROT IN HELL CHASE BANK

    I have a checking account with Chase bank. I recently deposited a somewhat large check into my account, when I deposited the check they said it will likely take 4 or 5 business days to clear - no problem I expected that. So they put a hold on the check - once again no problem - as I had plenty of money in the account to pay for the checks I had written and was going to be writing. However, someone with the bank mistakenly put a hold on my entire checking account.

    So every check that I write, bounced - insufficient funds. I started getting these notices from my bank indicating that I had insufficent funds in my account. They were unable to determine what was going on, so I finally had to call and we got it straightened out. But in the meantime several credit card accounts were past due as were other things that I had paid. My credit score is still be lowered as we speak about this, I have incurred numerous late fees.

    Sure the bank has offered to pay me for any late fees and they have written a letter that I can send to my creditors indicating it was a banking error......but at best it is a huge pain in the butt to make all the calls and try and get it all straightened out. Ayt worst I don't know if I will be able to get my credit score back where it was or whether I'll be able to get my interest rates as low as they were.

    Overall I cannot think of a worse thing a bank could do to someone.

  2. #2
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    Default Re: ROT IN HELL CHASE BANK

    They should be responsible in making all phone calls and/or sending all letters to wherever they need to be made or need to be sent until your score is exactly what it should have been pre-mistake. It's their fault, and it should be their liability. That's the idealist in me talking, but it should be that way.

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    Default Re: ROT IN HELL CHASE BANK

    Quote Originally Posted by Mal View Post
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    They should be responsible in making all phone calls and/or sending all letters to wherever they need to be made or need to be sent until your score is exactly what it should have been pre-mistake. It's their fault, and it should be their liability. That's the idealist in me talking, but it should be that way.
    Aren't there only 3 credit sources that would to be needed to be contacted?

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    year of the black rainbow obnoxiousmodesty's Avatar
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    Default Re: ROT IN HELL CHASE BANK

    Quote Originally Posted by Mal View Post
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    They should be responsible in making all phone calls and/or sending all letters to wherever they need to be made or need to be sent until your score is exactly what it should have been pre-mistake. It's their fault, and it should be their liability. That's the idealist in me talking, but it should be that way.
    I completely agree. I don't appreciate that it's become so easy for businesses to pass responsibility for their mistakes onto customers.
    Take me out to the black, tell 'em I ain't coming back. Burn the land and boil the sea, you can't take the sky from me.

  5. #5

    Default Re: ROT IN HELL CHASE BANK

    I understand what you folks are saying, but the bank's liability only goes so far. They DO have a responsibility to credit the error, but I assure you they won't take responsibility for the "trickle-down effect" that resulted from the error outside of attempting to correct the mistake strictly within financial limitations.

    In other words...

    - they took the hold off the account - their responsibility!

    - they should refund all monies that went toward ISF on the account (overdraft fees from the bank) - their responsibility!

    - by right, they should also be willing to refund all bounced check fees incurred from all merchants during the error period; UB shouldn't have a problem arguing this one successfully if he received notices from his creditors stating a bounced check fee was incurred - their responsibility!

    - they provided a means for the creditors to be informed of the mistake so that the credit score error/blimished credit rating to the client can be corrected - their responsibility!

    Other than the above, that's the extend of the bank's ethical responsibility. That said, since we're only talking about three credit agencies, I'm sure if UB talked w/the bank manager he can persuade him/her to send the letters on the bank's letter head to the credit bureaus on his behalf since it was their error that caused the mess. But they're not obligated to do that. It would, however, be sound business practise.

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    Default Re: ROT IN HELL CHASE BANK

    Quote Originally Posted by iPACER View Post
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    Aren't there only 3 credit sources that would to be needed to be contacted?
    However many it may be, it's something UB shouldn't have to deal with because it was the bank's fault.

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    Default Re: ROT IN HELL CHASE BANK

    Quote Originally Posted by Mal View Post
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    However many it may be, it's something UB shouldn't have to deal with because it was the bank's fault.
    I agree but these days customer service and fast food aren't what they used to be:


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  8. #8
    Huge Member heywoode's Avatar
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    Default Re: ROT IN HELL CHASE BANK

    I think he is talking about the individual creditors who may have increased his interest rate as a result of a late payment. The three credit bureaus should be an absolute lock for the bank to contact.

    If he incurred late fees, overlimit fees, and/or had his interest rate affected on any revolving accounts because of the bank error, the bank should ABSOLUTELY feel obliged to act, ethically speaking. They probably won't because they are a big business and all he is is a number and a means to a profit margin. Even local banks in smaller communities would have a hard time agreeing to contact his creditors because most "corporate policy" would discourage that level of involvement or that much commitment of manhours. That's just the way businesses think.

    Would it be the right thing to do? The answer to that question is an absolute YES.



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  9. #9
    Cheeseburger in Paradise Los Angeles's Avatar
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    Default Re: ROT IN HELL CHASE BANK

    Every time I've had a late payment for one reason or another, even when it was my fault, and a creditor adjusted my interest rate, they have always put it back after a simple phone call.

    Credit bureaus are not contacted until you are delinquent for a much longer time.
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  10. #10
    Administrator Unclebuck's Avatar
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    Default Re: ROT IN HELL CHASE BANK

    Quote Originally Posted by Los Angeles View Post
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    Every time I've had a late payment for one reason or another, even when it was my fault, and a creditor adjusted my interest rate, they have always put it back after a simple phone call.

    Credit bureaus are not contacted until you are delinquent for a much longer time.
    I have not checked my credit score to see if it has changed any since the last time I checked it. So maybe it has not been effected yet.

    My biggest problem is that I had three credit cards where I had very low interest rates all 3 were under 4% - and I have already received letters from all three indicating that the interest rates are going way, way up - all over at least 15.9%. And although I typically don't carry balances, I have for the past couple of months and was probably going to be for another 3 months or so. carrying a ballance at 2.99% is no big deal, but carrying a balance at 21.9% is a big deal.

  11. #11
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    Default Re: ROT IN HELL CHASE BANK

    there is a reason they spell bank with a 'b' instead of a 'w'..
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  12. #12
    Cheeseburger in Paradise Los Angeles's Avatar
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    Default Re: ROT IN HELL CHASE BANK

    Quote Originally Posted by Unclebuck View Post
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    I have not checked my credit score to see if it has changed any since the last time I checked it. So maybe it has not been effected yet.

    My biggest problem is that I had three credit cards where I had very low interest rates all 3 were under 4% - and I have already received letters from all three indicating that the interest rates are going way, way up - all over at least 15.9%. And although I typically don't carry balances, I have for the past couple of months and was probably going to be for another 3 months or so. carrying a ballance at 2.99% is no big deal, but carrying a balance at 21.9% is a big deal.
    Start with the phone calls - this wasn't even close to your fault.

    And carrying balances is what cards are for, they don't hold that against you, so that should be a non-issue.
    “Success is not final, failure is not fatal: it is the courage to continue that counts.” - Winston Churchill

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  13. #13
    Jimmy did what Jimmy did Bball's Avatar
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    Default Re: ROT IN HELL CHASE BANK

    Welcome to the wonderful world of credit cards where loan sharking is legalized.

    This wasn't your fault and I'd think a phone call should rectify it. Especially if you can promise to send a copy of the bank letter taking responsibility. They probably won't even require you to do that.

    But in any case, this should show you how quickly these sharks bare their teeth and the amount of blood they go for. Also, things to watch out for is them changing due dates and reducing grace periods.

    They'll raise the rates at a drop of the hat, but won't lower them out of the blue no matter how good you are about paying on time. Sometimes they'll lower them if you ask or tell them you have a lower rate offer somewhere else, but you'd think months and years of prompt payments should count for something if there's one mistake and shouldn't automatically allow them to raise the rate the amounts they do.

    Late payment fee... OK (altho those are too much) but to then raise the rates thru the roof? That's just wrong. And if someone is having trouble making ends meet and had a thin month, they've just compounded the problem.

    Yes, I had a go 'round with Chase once too. I forget the particulars whether I lost the bill or didn't get it or the check never got there... But they didn't get their check on time and did the 'interest rate thru the roof' number on me and refused to come off it. I complained and complained and told them I would not be paying that high interest rate. It did no good. But the timing was perfect for having a decent check roll in and I paid the card off after about a month. I then cut the card up and mailed it with a letter explaining exactly why they lost me as a customer.

    The funny thing was, after they got the payment they sent a letter saying they'd recently received a large payment and hoped I wasn't about to leave them as a customer!

    That's my Chase story...

    Oh BTW... I actually own a little stock in the company (JP Morgan). Way to impress me, Chase!

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    Default Re: ROT IN HELL CHASE BANK

    This is a much more simplistic story, but it shows how much customer service has regressed.

    I work in a mall and we put our cash deposits in the Chase Bank that is located in the mall. They treat me like absolute **** because I am from a "store" which somehow makes me different that any other customer. One time my boss went down there to deposit some cash, he had already cut the deposit envelope for the woman so she could remove the cash more easily, she was so frustrated when she saw who the deposit was for she threw the slip in the air and money went flying everywhere.

    Customer service in general, these days, ****ing sucks.

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