Chase Mastercard Standard card

You’re paying for stuff, running up charges, even pulling out cash, all while staying strictly within the monthly limit he set... except the whole thing just pulls from his checking account... which, honestly, isn't even that bad 😁

thanks!

Hey everyone!

So, I paid for a hotel back in March $327. My payment was due on March 28th, and I made sure to settle it right on time $167. Based on my math, I should still have about $480 left to pay this month. But when I log into my online banking, it’s showing me $260 an outstanding balance????$160 plus some weird principal amount of $100? I haven't bought anything else on the card—honestly, I haven't even used it at all. Does anyone know what's going on? Nothing else has been charged or cleared except for that hotel stay, which now looks like I actually paid $433? When I called the bank, they just told me everything looks totally normal. How is that "normal"—charging that much interest in less than a month? Could someone please help me make sense of this?
Thanks

What kind of card are we talking about here, like a business one or just a personal account? And how can you be so sure it's interest... I mean, who did you actually speak to over at Chase? Did they mention anything about having online transaction capabilities enabled? Also, do you get physical statements sent through the mail? One more thing—when was it issued, because I'm wondering if there might be an annual fee involved... 😕

I know I haven’t laid out all the details just yet. :-) This is a total classic. I’ve been keeping an eye on my online banking and noticed the change was already made, though the official statement won't arrive for a few days. The teller at the branch mentioned something about a principal balance that needs to be settled—apparently because I have a loan repayment running through 2011? Honestly, I’m completely lost. What kind of loan would amount to $317? I mean, I’ve always handled my purchases this way, but I’ve never seen a principal balance jump to such a massive figure before. And they're claiming the total is up to $15? It can't be a membership fee, since all my cards are supposedly free through my New York Chase Mastercard account.
It just stated "principal due by 04/21/2011." Is that actually supposed to make sense? Does anyone really buy that?
Thanks!

Look, is that really your only expense, or are you carrying some old debt from before? Because the way I see it, if you make a payment on, say, April 21, 2009, you’re stuck paying 5% by May 10th, and then the remaining 95% doesn't even hit until April 21, 2011.

They calculate interest on the remaining principal every three months, so by roughly $3.25 it would end up being $100. Something about this feels off. 😕

So, apparently it’s some kind of revolving credit setup where you pay a chunk upfront and cover the rest later, but I honestly find it hard to believe someone could own a card without having a clue what it actually is or how it works... and the fact that Chase doesn't even show your transaction history—just the balance—on their website is just ridiculous 😕🤷

Scott Johnson45 said:So, apparently it’s some kind of revolving credit setup where you pay a chunk upfront and cover the rest later, but I honestly find it hard to believe someone could own a card without having a clue what it actually is or how it works... and the fact that Chase doesn't even show your transaction history—just the balance—on their website is just ridiculous 😕🤷

Believe me, I wouldn't, but there are huge swaths of people out there who are just that clueless.🙄...

I have one of those high-limit cards sitting there, but I barely touch it... it was actually one of the first revolving credit cards Chase rolled out...

Anyway, I decided to log in and check how the Go! card interface looks... on the Chase online portal, you can access your transactions, though it's technically not a "spending" feed because it shows what has been billed for payment, rather than the exact moment you swiped the card... and that’s where you see everything you "carried over" on the card along with the interest charges that hit your statement.

Just like @Jane Crow mentioned, with the Visa Classic setup, 5% hits your bill immediately, and you're left responsible for settling the rest over the next two years...

That 5% based on the total amount is $16though I assume it's a pretty small chunk$32... $295is the amount she'd be required to pay off by the end of the 24th month... and, well, that $100 might be (and I'm just speculating here) the actual interest amount she'd end up paying if she waited until that final 24th month to settle the remaining balance.🤷

I mean, I’m starting to think you might be right... Like, if I were looking at 2011 rates, sure, maybe that would make sense, but I paid everything off upfront. I don't even use this card for anything else—just the occasional trip every six months or so. I’ve had it for five years now and I have never run into an issue like this before. Chase says everything looks fine on their end, but I’m still totally lost. Honestly, I think I'll just stop using it altogether. By the way, what about the Go card—is that a better option? Is it also a revolving credit line?
Thanks everyone!

Chase Mastercard

So, here's the deal... Up until now, my billing cycle always worked like this:

Whatever I spent between June 15th and July 15th would show up on my bill by August 15th.
The statement would generate on July 15th.

But today? Today I get hit with a bill covering:
June 15th to July 15th AND July 16th to August 5th!!!

And now, the next statement isn't even scheduled to generate until September 5th, with payment due September 15th.

Which means my billing period has suddenly shifted from the 15th to the 5th, and I've lost ten days of breathing room—it used to be a full month!

WTF???
And they didn't even bother to send out a single notification about this...

I actually went and dug through the terms of service, and it says the charges hit the account ten days after the statement is generated...

Is this some new thing? Some brilliant new "anti-recession measure" they're pulling?

Pathetic...🙏

Who exactly is the issuing bank here?

Oh, right... I totally blanked on the most important part: JPMorgan Chase...

Look, I’ve been carrying their Visa Mastercard for fifteen years now... and I specifically set my billing date for the 16th back when I first got it. My statement always closes on the 6th—which gives me a solid ten-day buffer before the actual payment hits.

So, this whole thing you're talking about—this idea that they're generating notifications or closing out the month a full month before the due date? It honestly makes zero sense to me.

My husband uses the exact same card, my mom has one, and basically everyone I know uses it too, and we all have the exact same setup.

For the last two years, my billing cycle always seemed to wrap up on the 15th... and sure, the money would leave my account on the 15th too, but it wouldn't be for the *following* month. Basically, I was getting a full month's grace period.

Here’s how things look over at Edgar:

-this is how it used to play out:


-then, suddenly, the notification date gets pushed to July 16th, even though the actual payment amount hasn't changed:


-and then this happens... (they try to charge me for two periods at once on August 15th!):


-and this is what the future holds for us 😢 :

From what I recall, when you were filling out that application, you actually had the option to pick your own due date. That’s exactly what I did—I set mine for the 20th because my paycheck usually hits on the 15th.

The notification usually gets generated about ten days beforehand. For instance, if they generate a notice on August 12th, it covers everything you spent from July 13th through August 12th, and then the whole thing is due on August 20th.

Honestly, it looks to me like they finally dragged you back into the "standard" lane, because whatever weird situation you were in before doesn't seem normal compared to how everyone else operates.

So now the big question is: what kind of fine print did you actually sign back when you first picked up those cards? Who really knows what terms were actually in effect at that time?

Chase is such a predatory bank; they swap out their agreements whenever they feel like it, so nothing they do surprises me anymore. It's entirely possible they realized—it took them long enough, right?—that you had some sort of setup that nobody else had. But regardless of all that, they should be sticking to what you originally signed... though, honestly, I bet you don't even remember what that was anymore.

@Thomas Gonzalez32 ... listen, my mother used to work for a corporation that had this specific, high-level agreement with their bank regarding their Visa Mastercard usage. While she was on the payroll there, her card statements were handled just like yours—everything was processed through the company, and those foreign transaction fees were billed separately on a different date entirely. It was a whole setup. But then, once she finally retired, the bank took forever to fix it. I mean, it took months, maybe even a year, before they actually transitioned her account back to a "normal" status. If I recall correctly, it only happened because her old employer finally notified the bank that she wasn't an active employee anymore, but honestly, that was ages ago so I can't be 100% certain about the timing...

Yeah, I’ve been freelancing for a few months now... so those perks were probably tied to my old firm, you know?

Thanks, Kimberly Nguyen and Mark Sullivan62...

Hello everyone,
I have a quick question regarding a transaction I made using my Visa Mastercard from JPMorgan Chase...
Basically, yesterday evening I booked some flights online through Southwest Airlines. As soon as I finished the checkout process, I received an on-screen confirmation saying the tickets were purchased. However, the follow-up confirmation email—which usually arrives instantly—hasn't shown up in my inbox yet. I chatted with a few people who fly with Southwest Airlines frequently, and they mentioned that receiving that email confirmation is absolutely essential and typically happens right away.
I actually stopped by my local Chase branch today to check on things. They were able to see that the card was indeed used, but they noted that the funds haven't been officially deducted from my account yet. Their advice was to just sit tight and wait until tomorrow...
I was wondering if anyone here has dealt with something similar? Does it normally take a little while for the money to actually leave the account, or could this be a sign that something went wrong during the transaction? I'm worried that perhaps the purchase was stalled since I haven't received that email confirmation.
My main concern is that because Southwest Airlines is a budget carrier, I'd hate to find myself in a situation where the money is pulled from my account but the tickets never actually materialize...
Thanks in advance for any insight you can share!....

The transaction should show up within a day or two. As for that missing confirmation, it might just be a blunder caused by a typo in the email address—let's just say it was entered incorrectly... anyway, you'll likely need a code from Southwest Airlines to move forward with the process.
I’d suggest waiting a couple of days until you can see the exact amount charged on your Chase Mastercard statement. Once you have the final number, then you can contact Southwest Airlines.