I mentioned in chat last nite,that I went into a Chase branch and made a cash payment on my cc acct just as I do every month.I do this because its quick and there would be no lag time in the posting of payments to the acct. How can I say this...Wait, I know....WRONG. It seems the chase cc division can only see and confirm that a teller payment was made, for how much, and the date of payment. They can't tell if its a check,cash,or green stamps. So, they do what any large, multi-national, under-regulated, severely disjointed and disfuntional organization would do, they put a 14 day hold on the acct for the amount of the cash payment.Every time, every month. I could understand a 3 day hold for a payment made with a out of state check.BUT Cash?????????YES, Chase standard operating proceedure. Oh and yeah, I could also understand a 14 day hold on a check drawn on a bank in the farthest reaches of the Delta quardrant that had to be hand delivered by James T. Kirk of the USS Enterprise, especially with all those Klingons and such running rampant. VJ
screw that bank. I post $3000-4000 payments online using ACH transfer to citibank without any questions or holds.. Sounds they are using this tactic to gain more interest charges..
If you make an online payment to Amex early enough in the day, it is normally CREDITED THE SAME DAY, EVEN ON A SUNDAY. The longest wait time I've ever had with them was 1 day. I still want a Chase, but I repeat my assertion that they're going sub-prime. I cannot accept an account agreement that says I have to pay $50 for EVERY balance transfer, and that it is up to them to decide whether to charge it or not. Their published APR is nothing to brag about, either. We currently have no feedback on whether it's possible to get it lowered. BTW, they've actually declined an application I've sent (before I was aware of the BT terms), stating only one reason: Too many INQ's. Reconsideration hasn't helped either. But now that I have both Amex & Citi, and given Chase's new terms, I'm not sure that's bad. Saar
Saar, they give you credit for the payment immediately,but it doesn't show up on line untill after midnight. I should clarify.Chase gives you credit for the payment but does not increase your available credit limit until 14 days have past since it posts to your acct. As a FYI, Chase started at 16.9%,lowered to prime plus 6.5%.then lowered again,to prime plus 3.9%, all in the course of 12 months.... They bombard you with no fee balance transfer offers after your original offer expires. They also send you checks you can make out to anything or anyone that has a acct number associated with it with no balance transfer fees Get the card when you can..... VJ
