***From the Everyday Cheapskate***

Dear Mary,

I just found this out and had to pass it on so you could get the word out. I went to pay my Chase card today (I pay in full every month) and noticed that there was a small finance charge on it. I was really confused because I paid the full balance last month 5 days prior to the due date, so I called. They said that interest now begins to accrue either at the date of the statement or even at the transaction date! Paying in full each month is no longer protection against getting hit with interest charges. I cancelled that card immediately. I hope this will warn other readers to keep a close eye on their accounts. Christa, email

Dear Christa,

This sounds like the incredible shrinking grace period. Clearly Chase changed the terms on your account and by law they had to notify you. But it was probably on a scrap of paper in the statement or on something that looked like junk mail. Thanks for the heads up. I hope you have indeed warned my readers to pay attention and watch their accounts like a hawk!

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The mighty oak started out as a nut that held its ground.

I have a Chase card and its been that way for quite awhile now, which is why I dont use it much!

thanks for the heads up. I usually look at those slips of paper. they are never good news. LOL I don't have chase, but when one does it they all start to follow suit.

allgirls

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allgirls, mom to 3 girls

My parents cancelled their Chase card for that very reason.

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Stephanie
Mom to: Caleb (8/03), Ian (9/05), & Lucas (11/08)

I hate credit card companies almost as much as insurance companies. I swear that they do everything to screw you out of your money.

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Yep. I had one that had a 15 day grace and and another w/ a 10 day grace period. And the ones from Direct Merchants are a real ripoff - some have none.

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Make someone's heart smile today.