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FenderGuy

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  1. Yes you are confused as you are not looking at the July statement it clearly shows 2 charges of interest one for the purchases and one for balance transfers....In that amount it was Chase that applied a $941.58 payments to those 2 fields, if you see the June statement that $941.58 was applied for July Example June (See statement) Interest charged $ 7,024.33 $ 146.11 $ 1,136.69 $ 23.64 $ 8,161.02 $ 169.75 July Statement Interest charged $ 6,190.50 $ 124.61 $ 833.83 $ 1,028.94 $ 20.71 $ 107.75 $ 7,219.44 $ 145.32 $ 941.58
  2. No I understand that there is no grace period on items that are past the 0% APR period and interest accruing, which is why I asked for a total balance pay off with all fees and interest included, both Chase and Wells couldn't give me this, I had to call 2 times and go into a branch store. I think you are confused on the above statement since it is in arrears but you are right if it is for June to July back interest and fees, where did they come up with a $941.58 payment being applied to that period, if the opening date is 06/27/2019 and closing date is 07/26/2019, again where does the $941.58 apply?
  3. Well looking at Previous statements on how they calculated interest and balance transfer fees in arrears doesn't seem right. I have attached a June and July statement (No personal info is shown) of how fees were calculated and it seems for July they only removed $941.58 and left the rest of balance instead of payments being over $3,255 at the due date, where the hell did they get $941.58 only being applied towards the balance from June? I didnt make a payment of $941.58 back in June
  4. Hello newbie to the board but not to credit (or so I thought) So I recently did some balance transfers paying off higher go nowhere interest cards and I asked for total pay offs from Wells (CC and LOC) and Chase CC. Have you ever looked at how these banks calculate interest and fees and or old balance transfers? It’s either simple or complex (Chase), I feel that Chase has collected fees that were not owed to them and upon creating my own spreadsheet applied a less than the amount paid to collect that interest. Can someone point to a research tool that help me understand how they apply multiple payments and total payment and what is really owed for in arears interest and fees?

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