Ask The Get Out of Debt Experts

I Was Hit With a Big Balance Transfer Interest Fee by Chase Bank. – Mark

“Dear Steve,

I just entered the Chase Balance Liquidation Program. My card jumped to 29.4% an a $7800 balance. I was a day late on my payment twice in 6 months so this was self inflicted. The original balance was 0%/12 mo’s. I had tried to Balance Transfer a portion of it to another card with a better rate.

When I received my next statement it contained a BALANCE TRANSFER INTEREST FEE equal to approximately 22.78%! This is on top of the 5% Balance Transfer fee I paid to the gaining card. To top it off, although I paid off about 18% of the balance they raised my minimum payment more than 10%! Have you heard of this fee? Can you warn your readers?

Mark”

Dear Mark,

Are you saying that because of your default that Chase Bank charged you 22.78% of your debt you transferred to the account?

Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

READ  Best Balance Transfer Offer With Checks. Is That Smart? - D



About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

Leave a Comment

Scroll to Top