JPMorgan Chase Go!Card help?
in Banking, Insurance & Loans ·
I just wanted to share my experience for anyone currently holding a Visa... I had an outstanding balance of about $2333 which I had arranged to pay off over ten installments, meaning roughly $233 per month. In an effort to clear the debt faster and get back to zero, I decided to start paying $333 instead. After I made a payment of $333, I noticed they didn't reduce my balance down to 6,000; instead, they only dropped it to 6,300. At first, I thought to myself, "Fine, I guess those are just those notorious interest charges I have to deal with." So, the following month, I decided to put another thousand dollars toward it. This time, I received a confirmation stating my balance went from 6,300 down to 5,600—not 5,300 as it should have been. At that point, I couldn't simply brush it off as interest anymore. Ultimately, I just pulled some cash together, paid off the remaining balance, and closed the account entirely. It's worth noting that I hadn't even used the card for several months leading up to this. Even after closing everything out, they still sent me an additional interest charge of $67... I paid it just to be done with them, only to find out later that it was an overpayment and they eventually refunded it. Long story short... if you are using a Visa, please try to settle your debt as quickly as possible. If you pay close attention to your statements for even two or three months, you will realize they are essentially skimming your hard-earned money through predatory practices. I am relieved to finally be rid of the whole ordeal, and thank God for that.