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Chase Credit Card Warning
Beware interest charges at the end of Chase Credit Card interest free offers! I have just noticed that Chase have charged me interest since the end of my introductory offer even though I changed my settings to "Pay in Full" at the end of the offer. They say that interest started accruing on the day the offer ended whereas I assumed the account would remain interest free if paid in full by the statement due date. This has nullified the cashback and savings interest on the card balance. Not happy!
Comments
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Oops, be aware when an offer ends, put a reminder on your calendar, sticky note on your fridge or an alarm in your smart device.
Never assume, check.
Same goes for BNPL.0 -
Same goes for BNPL.
Same goes for any credit card with an interest free period (like balance transfer cards). The date of the period ending will rarely be the same as a statement date.
The date is stated is on the monthly statement.
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You're not the first and won't be the last making that mistake.
Let's Be Careful Out There1 -
When I used to do a lot of stoozing with 0% offers I would ring a month or so before the end of the offer period and get someone to confirm what I needed to pay in order to not accrue any interest. I'd keep a record of the conversations (secure messaging or online chat) and when it turned out the info was wrong (nearly 50% of the time) and I was charged interest I would raise a complaint to get a refund.
The info on the credit card statement isn't always clear. My M&S card never noted how much of a 0% balance I had or when it was due to be paid so I never knew how much to pay each month for current purchasing so as not to clear the portion that was at 0%. (only card I have that dealt with offers in this way)
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⭐️🏅😇🏅🏅🏅🏅🏅🏅0 -
Statement date, not due date, often is the date of the offer ending, that is the problem.
Never associate with idiots on their own level, because, being an intelligent man, you'll try to deal with them on their level - and on their level they'll beat you every time.
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This is what I noticed a few years ago, hence why I pay in full BEFORE the date . If I lose a month, so be it. Better than losing money.
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Barclaycard was very good for a recent 0% BT I had with them, they sent out a notification email 3 months before the end, then another one 1 month before, both stating clearly what the end date was.
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Most of them do fortunately, I had the same from HSBC about a transfer that ends soon
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Ditto from Virgin CC.
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Both my current stoozing balance trf cards (HSBC and Nationwide) clearly show on each statement how much is due and the dates the various promotions end/ need paying by (both cards have more than one amount and more than one date).
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