(Closed) “minimum interest fee”….fees for having a $0 balance on your card

posted 8 years ago in Money
Post # 3
Member
4001 posts
Honey bee
  • Wedding: June 2010

Ew, that’s ridiculous.  I usually never have a zero balance, just because I’m obsessed with my credit score so I like to have at least a lil bit on there.  And while the charge isn’t a huge amount, its still wrong.  How dare you charge me, simply because you happen to not be making money off of me at that time. 

I hope they remove the fees for ya. 

Post # 4
Member
1080 posts
Bumble bee
  • Wedding: March 2010

that sucks! If a person pays off their card they should not be penalized…Besides how are they calculating any charge from zero…..LAME hopefully your call can get this removed!

Post # 6
Member
5670 posts
Bee Keeper
  • Wedding: August 2010

I have chase and am never charged a fee for having a zero balance however my Fiance has chase as well and this month his bill was $1.50! At first I thought I paid off the wrong amount last month and then saw that is was an interest charge.

 

Post # 7
Member
10366 posts
Sugar Beekeeper
  • Wedding: September 2010

This is part of the credit card companies reactions to the new regulation legislation. I would definitely shop around – you can get a card that doesn’t do this!

Post # 8
Member
167 posts
Blushing bee
  • Wedding: October 2010

Glad to hear about the ban! Now, can they ban Chase from charging me a “service fee” for not using my checking account enough each month? (If I had direct deposit, or made 6 debit purchases from my account each month, I wouldn’t be charged a fee. But since I have no job, and therefore little money to spend, I don’t do either of those things, and they take $6.00 from my account each month. Doesn’t sound like a lot, but when you don’t have much to begin with, it adds up.)

Yeah, totally ditching Chase when I move.

Post # 9
Member
2742 posts
Sugar bee

CC are so ridiculous. I know that they also need to make money but not on my dime. I got my interest rate hiked by 7%!! Now, take note that I have a great credit score, never missed a payment, am usually really diligent with my credit card and they refused to bring the interest down THEN, they added another 5k to my available credit. Like I am stupid. You jack up my rate and you also give me more money to spend. I only spend about $100 on the card every other month or so.

Post # 10
Member
593 posts
Busy bee
  • Wedding: May 2010

@FutureMrsSpinewiz: I know! I left Bank of America for that reason after being with them since I was sixteen with my very first checking account because of the direct deposit thing. It was weird but I felt *personally* insulted when they started charging me for nothing. I joined a credit union instead.

*Also, this sort of reminds me about a Louis CK bit about how the bank treats you in situations like that. If you don’t mind F-bombs, look up Louis CK “broke” on youtube it’s pretty funny.

Post # 12
Member
5977 posts
Bee Keeper

Wow – I had no idea! I think I have a Chase card from a long time ago that I never use anymore but never closed. What a bunch of crap!

@FutureMrsSpinewiz: I can’t believe they charge you $6 for not using your account! What kind of crap is that!  You definitely need to get a new bank!

Post # 13
Member
2742 posts
Sugar bee

Ah, Chase used to charge me $6 for lifeline checking or some stupid ish like that. Unfortunately, most of my money is in Citibank and it’s free with direct deposit. I was so pissed with Chase, I removed ALL my money and left the account empty but not closed. Just in case… no more $6 thank you very much.

Post # 14
Member
1313 posts
Bumble bee

Those credit card companies will do ANYTHING they can to make a buck. It’s so sad.

I JUST paid off a Chase card last month… but read the Edina’s posted article (THANK YOU!!!) It was great news for me. I didn’t know all of that was going into effect, nice!!

Post # 15
Member
1774 posts
Buzzing bee
  • Wedding: September 2009

I have chase freedom, pay off in full and so far, no fees, knock on wood.

Post # 16
Member
651 posts
Busy bee
  • Wedding: May 2012

Wow never happened to me before, I have Chase, so I’ll have to watch for this (atleast until 8/22 anyway).  All my bills hit the CC (so I can get points) and it gets paid down to $0 on the 15th of the month.  Chase sucks!  The 6 transactions thing sucks too, fortunately I make a lot of transactions every month so I don’t worry about it, but I know there are circumstances when you might not make 6 transactions.

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