You are correct, Chase is the worst but consider yourself lucky with the 15%...they jacked mine up to 29.99% and I am done with them now.
I owed about $5,000 on my BofA credit card and made a $2,600 online payment, except I forgot the decimal place. I ended up making a payment of $260,000. This may come as a surprise, but I didn’t have that much in my checking account.
So, what did the bank do?
1. They can only take payments of a max of $99,999, so they broke it into three payments.
2. Then the actually tried to withdraw all three from my checking account. They all bounced, but my bank only charged an NSF for one of them.
3. Then BofA put my balance back to the original $5,000, but as a cash advance, which over doubles my interest rate.
4. Then they charged $39 for each of the three bounced transactions for a total of $117.
My wife called them when we got the notice and the lady said that the most she could do was remove one of the $39 charges. After much discussion (my wife was on the phone with her and me at the same time, and I have PCI experience), I told my wife to tell the lady, “ok, but we’re gonna stop using that card”. The lady asked if we wanted to cancel the card. We said not just “no”, but “hell no.” They just won’t get the fees from our purchases any more but we will still have the excellent credit afforded by the card.
I also have experience with how call centers work, so the next day I called and the guy (who can see everything the original lady typed about our conversation) almost immediately said they were reversing all charges, removing the balance from the “cash advance” category, and even backing out the extra interest we had paid since it was entered (already almost $30!).
Nevertheless, the first lady treating my wife like we were idiotic deadbeats and deserved what they did was enough to cause us to abandon the card. We still use it, but only when we are somewhere that does not take American Express.