JP Morgan Chase Stole $55 from Me – And Lost a Customer Forever


I started my career at Chase Manhattan bank, working in check processing. Back then the bank really cared about its customers, and worked hard to make them happy. My how times have changed.

Today, JP Morgan Chase is one of the most profitable banks around. Last week they suffered a bit of a black eye, when it was revealed that more than 1,600 of their employees made more than a million dollars last year – the most of any bank in the US.

Part of me thinks I should have stayed there – I’m just confident enough (or egotistical enough) to think I’d be one of those 1,500 right now. But frankly, after seeing how the organization has gone so totally down hill, I’m glad I’m not – because clearly they’d rather take care of their employees than worry about satisfying a customer.

Here’s my sorry tale – which I know has been played out in various forms across countless consumer accounts. For years I had a Citibank credit card that I used – and paid off – every month. Sometime last year I got sold off to Chase Manhattan, and since I had to change credit card numbers anyway, I figured I’d look around for a better card. I found it, and subsequently stopped using that Chase card (I probably ran up all of 10 transactions on it, which I paid off immediately.

So today I just looked at my Chase Bill, and saw $55 worth of charges on it – including a $15 late fee and a $1 finance fee. I know the card hadn’t been used, so I called up the bank to find out what the charge was, and ask them to close the account and remove the charge.

It turns out, the charge was for a newly minted annual “membership” fee, which I’d missed by not seeing the previous statement. So they charged me a $39 annual card fee, then a $15 late fee, and $1 of interest on top of that. $55 for something I’d never asked for, never had to pay before, and for nothing of value.

When I politely asked for the charges to be reversed, because I’d never asked for them, I ran into the wall of pain. I was transferred first to a department that couldn’t help me, and then to a representative named “Justin”.

Justin told me that I’d asked for the card, that they had sent me a copy of the terms that included the annual fee, and that there was nothing he could do. “There are no waivers of any fees at all anymore”, he told me, saying that it was new bank policies. I asked to speak to a supervisor, and first Justin told me that “we don’t have anyone available”, and when I pressed, said that it was bank policy and that “we are not allowed to pass to supervisors.” According to “Justin” (Chase policy also forbid him from giving me his last name or employee number), he was the last person I was going to talk to at Chase, no matter what

Got a problem with that, he said? If so, I was advised to write a letter.

So in the end, JP Morgan Chase stole $55 from me. But it’s their loss, because they just lost a customer for life – and hopefully you’ll think twice before purchasing a product, service or credit card from them.

Yes, at one time, Chase Manhattan was a solid, respectable bank that cared for its customers and its employees – I know, because I was one. But now they’re just a money-grubbing, faceless, nasty organization that would rather steal than serve. And in today’s transparent society, that’s not just wrong, it’s bad business too.

By the way, if you want to write a letter, here’s the address:

Chase Card Services, box 182918 OH1-0554 Westerville Ohio 43081

I’ll be sending them a letter, but I’m not holding my breath on the response.


JP August 2, 2009

So when your card got sold of to Chase, you should have received some paperwork outlining the terms of the new card, including details on the annual fee. Sounds to me like you just didn’t read the paperwork as it most likely looked like the typical junk mail you get from banks.

It’s not just Chase though. All banks are now changing their rules and being tight as hell on reversing fees. Not too long ago I had a late fee charged on my BoA account because of insufficient funds to cover an automated monthly transfer I had set up between my Checking to Savings. The stupid part is that not only was this just a transaction between my own 2 accounts, but the fee ($30)was more than the transferred amount ($25)! After many communications back and forth, they still would not reverse the fee.

Long story longer, the amount was not really worth the time and effort it would take to try and get back, nor is it worth the inconvenience of having to pick a different bank. The lesson learned would be to keep on top of the rules especially in this day and age when they keep changing, and to always read stuff from banks you have an active account with.

JalenJade August 2, 2009

Jim, you should probably pass the story and the letter along to the Consumerist. Let a lot more people see the story and companies seem to take action when they get published there.

Sergio Rivero August 11, 2009

I perfectly understand what you’re going thrue. I have had Washintong Mutual Bank since I came to the United States in Sept 2003, I never had a problem with it before. Now it turn in to Chase and I though it was a good thing. Not even two weeks later I realized that back is a pice of crap. They stold from me $510 in returned payments and overdraft fees. They wouldn’t pay for the things I put on my card because my check didn’t go thrue the same day I deposit it, so they charged me overdraft, they charged me with return payment fees wish is $34.00 each one and when I went to the bank they told me it was not a bank error so they couldn’t do anything. So I ask them to close my account inmediately, and as you sayed they lost a client here for life. I closed my bank account and my two credit cards. I don’t want to know anything else about Chase in my life. At all. I was just talking to some friends wish had been having problems with that bank too, and as it looks like, they will go down hill really soon. And God forgive them from stilling from people, because I won’t.

jj August 30, 2009

They lost a deposit I made and then charged me an arm and a leg in overdraft fees that they caused. After receiving no help from customer service or managers, I realized I would not see the deposit I had made ever again. Instead of being helpful they were rude and insulting. I figured I would just charge the missing funds to the debit card and then refuse to pay the bogus overdrafts. So they decided to tell me they were investigating me for fraud. So they lost my 500 dollar deposit and refuse to explain why, and now I am to be investigated. I would’ve been better of doing buiseness with mobsters than these sorry assed losers.

Hitech September 15, 2009

Думаю любому понравится!

Солдат September 15, 2009

Отлично написано! Буду много думать…
Портал просто замечательный, буду рекомендовать всем знакомым!
Спасибо! а еще посты на эту тему будут?
“Блог в ридер однозначно”
поделюсь: а у нас на работе всех поувольняли, и что теперь делать?

Iljushin October 18, 2009

Придуманная мной технология немного отличается от опубликованной автором, кому интересно, могу поделиться своими идеями. Мой, Стас.

Эсце October 20, 2009

Мне надо поделиться опытом с кем-нибудь по обсуждаемому вопросу. Кто любит интересное общение, стучите в асю 23246752

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