Chase Balance Transfer Checks Tricks
Guest: Polonius
Credit Expert (100+ Posts)
Post subject: Chase Balance Transfer Checks Tricks
Posted: Thu May 05, 2005 10:38 am
Yesterday I received three letters from Chase. Each was for a different account, and each contained four balance transfer checks. On each, the first of the four checks was made out already, filled in with my name as the payee and my credit card limit as the amount.
Gosh, how generous of Chase! The interest rate on each check is fixed at 4.99% for life of loan. Not bad. And I had no balance on one of the accounts. My credit limit is $23,000, so the check was made out for $23,000. I could even deposit it in my own checking account!
Problem is, there's a fee for each check (maximum $75). So if I just deposited the check, I'd be charged $23,000 for the check and $75 for the fee, for a total of $23,075. Presto! I'm overlimit! I've violated Chase's rules! Chase can put me in the default category, raise my interest rate, ruin my credit score! And all because I simply deposited a check it sent to me!
Be careful out there.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: fenster
Post subject: Chase Balance Transfer Checks Tricks
Posted: Thu May 05, 2005 12:58 pm
Thanks for the heads up Polonius. On a different note, and since you’re familiar with Chase, do you know when Bank One cardholders will start receiving Chase cards? I’m leaving the country soon and wouldn’t want my Bank One card to quit in mid trip and while the exchange is taking place. Is the merger consumated yet? Thanks again.
Guest: Polonius
Credit Expert (100+ Posts)
Post subject: Chase Balance Transfer Checks Tricks
Posted: Thu May 05, 2005 2:20 pm
The BankOne site is still separate from the Chase site online. My BankOne card hasn't changed. Here's what's posted on the BankOne site:
Quote:
Q: Will the company I’m doing business with be changing its name?
A: Yes. Bank One will eventually adopt the Chase brand. Our cardmembers will be kept informed of those changes.
Q: How will I be informed of any changes?
A: We’ll keep you informed. You’ll always find the latest merger news on this site, and if any changes to your account are planned, we’ll contact you regarding the details. You can also reach us by phone at any time just by calling the number on the back of your credit card.
Source:
http://cardservices.firstusa.com/index.jsp?page=/brands/ALL/exp_merger.html
So it looks like nothing has happened yet...
Guest: Ira
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Chase Balance Transfer Checks Tricks
Posted: Thu May 05, 2005 2:45 pm
Probably being phased in by area. I'm already receiving Chase statements for both of my former Bank One accounts.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Polonius
Credit Expert (100+ Posts)
Post subject: Chase Balance Transfer Checks Tricks
Posted: Thu May 05, 2005 5:00 pm
Ira, have you received a replacement card with the Chase logo on it? Can you access the account online from the Chase Web site?
Guest: guessindigo
Post subject: Chase Balance Transfer Checks Tricks
Posted: Thu May 05, 2005 6:27 pm
I never use the full limit b/c the fee will put you over the limit and all ***** breaks loose.
I do however use it as leverage for a CLI. In this case, I would call and say I want to use 23K you preprinted for me, but could you raise my line to 30K to give me some breathing room?
If your 6 months since your last CLI, Chase is good about handing out the CLI to accomodate your request.
Guest: guessindigo
Post subject: Chase Balance Transfer Checks Tricks
Posted: Thu May 05, 2005 6:28 pm
PS The replacement cards for Chase platinum are ugly as sin. I hate the new design.
Guest: CreditCardGuru
Post subject: Chase Balance Transfer Checks Tricks
Posted: Fri May 06, 2005 3:41 pm
Are you talking about the new ones that are silver and have just the Chase logo as opposed to the see-through ones?!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: guessindigo
Post subject: Chase Balance Transfer Checks Tricks
Posted: Fri May 06, 2005 7:19 pm
Yes.
Guest: CreditCardGuru
Post subject: Chase Balance Transfer Checks Tricks
Posted: Sat May 07, 2005 2:13 am
I don't think they look that bad, but I was pissed when they changed it....they look okay, but the see-through ones were really cool.....I even called them and asked if I could get a see-through...LOL.
Guest: Ira
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Chase Balance Transfer Checks Tricks
Posted: Sat May 07, 2005 11:35 pm
Polonius, I seldom use credit card websites, prefering to make all payments directly from my checking account. It's a lot easier to do all of my banking from one site.
That being said, I did try to access my Circuit City Bank One account from the Chase site. Here's the message I got:
I did not receive a Chase card for this account.
Ira
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: CreditCardGuru
Post subject: Chase Balance Transfer Checks Tricks
Posted: Sun May 08, 2005 2:05 am
I also have a previous Bank One account....they apparently aren't changing the name because my card says BANK ONE on the back and I just received a new one. As far as logging in you go through www.firstusa.com which to those of you who don't know Bank One bought out First USA and has been using that name for a while....because sometimes when you apply through Bank One, and now Chase, FIrst USA will show up on your credit report as it did for mine.
Guest: CreditCardGuru
Post subject: Chase Balance Transfer Checks Tricks
Posted: Sun May 08, 2005 2:06 am
Here's the exact login http://online.firstusa.com/bolHome.aspx?partner=cmsfi
I'm the Credit Card Guru, YOU BET
Guest: Polonius
Credit Expert (100+ Posts)
Post subject: Chase Balance Transfer Checks Tricks
Posted: Sun May 08, 2005 9:50 am
OK--so you're confirming what I said: that the merger hasn't gone through completely yet. When it does, the BankOne site will disappear and everything will be under the Chase name.
I love these so-called "mergers"--they're not mergers but are buy-outs. One firm disappears. BankOne bought out FirstUSA; now Chase has bought out BankOne. Chase did that with Chemical Bank some years ago; it took a while for my ChemBank credit card to show up on the Chase site, but now there's no hint that Chemical ever existed online at the Chase site.
Guest: CreditCardGuru
Post subject: Chase Balance Transfer Checks Tricks
Posted: Mon May 09, 2005 12:09 am
Some mergers never change names like the AOL TIme Warner merger, they went to AOL Time Warner but then split back up into two different names because it was cheaper that way. I find it hard to believe Chase buying out Bank One, they are both big banks, also amazed the FTC/FCC approved the merger/buy out.
I'm the Credit Card Guru, YOU BET
Credit Expert (100+ Posts)
Post subject: Chase Balance Transfer Checks Tricks
Posted: Thu May 05, 2005 10:38 am
Yesterday I received three letters from Chase. Each was for a different account, and each contained four balance transfer checks. On each, the first of the four checks was made out already, filled in with my name as the payee and my credit card limit as the amount.
Gosh, how generous of Chase! The interest rate on each check is fixed at 4.99% for life of loan. Not bad. And I had no balance on one of the accounts. My credit limit is $23,000, so the check was made out for $23,000. I could even deposit it in my own checking account!
Problem is, there's a fee for each check (maximum $75). So if I just deposited the check, I'd be charged $23,000 for the check and $75 for the fee, for a total of $23,075. Presto! I'm overlimit! I've violated Chase's rules! Chase can put me in the default category, raise my interest rate, ruin my credit score! And all because I simply deposited a check it sent to me!
Be careful out there.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: fenster
Post subject: Chase Balance Transfer Checks Tricks
Posted: Thu May 05, 2005 12:58 pm
Thanks for the heads up Polonius. On a different note, and since you’re familiar with Chase, do you know when Bank One cardholders will start receiving Chase cards? I’m leaving the country soon and wouldn’t want my Bank One card to quit in mid trip and while the exchange is taking place. Is the merger consumated yet? Thanks again.
Guest: Polonius
Credit Expert (100+ Posts)
Post subject: Chase Balance Transfer Checks Tricks
Posted: Thu May 05, 2005 2:20 pm
The BankOne site is still separate from the Chase site online. My BankOne card hasn't changed. Here's what's posted on the BankOne site:
Quote:
Q: Will the company I’m doing business with be changing its name?
A: Yes. Bank One will eventually adopt the Chase brand. Our cardmembers will be kept informed of those changes.
Q: How will I be informed of any changes?
A: We’ll keep you informed. You’ll always find the latest merger news on this site, and if any changes to your account are planned, we’ll contact you regarding the details. You can also reach us by phone at any time just by calling the number on the back of your credit card.
Source:
http://cardservices.firstusa.com/index.jsp?page=/brands/ALL/exp_merger.html
So it looks like nothing has happened yet...
Guest: Ira
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Chase Balance Transfer Checks Tricks
Posted: Thu May 05, 2005 2:45 pm
Probably being phased in by area. I'm already receiving Chase statements for both of my former Bank One accounts.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Polonius
Credit Expert (100+ Posts)
Post subject: Chase Balance Transfer Checks Tricks
Posted: Thu May 05, 2005 5:00 pm
Ira, have you received a replacement card with the Chase logo on it? Can you access the account online from the Chase Web site?
Guest: guessindigo
Post subject: Chase Balance Transfer Checks Tricks
Posted: Thu May 05, 2005 6:27 pm
I never use the full limit b/c the fee will put you over the limit and all ***** breaks loose.
I do however use it as leverage for a CLI. In this case, I would call and say I want to use 23K you preprinted for me, but could you raise my line to 30K to give me some breathing room?
If your 6 months since your last CLI, Chase is good about handing out the CLI to accomodate your request.
Guest: guessindigo
Post subject: Chase Balance Transfer Checks Tricks
Posted: Thu May 05, 2005 6:28 pm
PS The replacement cards for Chase platinum are ugly as sin. I hate the new design.
Guest: CreditCardGuru
Post subject: Chase Balance Transfer Checks Tricks
Posted: Fri May 06, 2005 3:41 pm
Are you talking about the new ones that are silver and have just the Chase logo as opposed to the see-through ones?!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: guessindigo
Post subject: Chase Balance Transfer Checks Tricks
Posted: Fri May 06, 2005 7:19 pm
Yes.
Guest: CreditCardGuru
Post subject: Chase Balance Transfer Checks Tricks
Posted: Sat May 07, 2005 2:13 am
I don't think they look that bad, but I was pissed when they changed it....they look okay, but the see-through ones were really cool.....I even called them and asked if I could get a see-through...LOL.
Guest: Ira
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Chase Balance Transfer Checks Tricks
Posted: Sat May 07, 2005 11:35 pm
Polonius, I seldom use credit card websites, prefering to make all payments directly from my checking account. It's a lot easier to do all of my banking from one site.
That being said, I did try to access my Circuit City Bank One account from the Chase site. Here's the message I got:
I did not receive a Chase card for this account.
Ira
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: CreditCardGuru
Post subject: Chase Balance Transfer Checks Tricks
Posted: Sun May 08, 2005 2:05 am
I also have a previous Bank One account....they apparently aren't changing the name because my card says BANK ONE on the back and I just received a new one. As far as logging in you go through www.firstusa.com which to those of you who don't know Bank One bought out First USA and has been using that name for a while....because sometimes when you apply through Bank One, and now Chase, FIrst USA will show up on your credit report as it did for mine.
Guest: CreditCardGuru
Post subject: Chase Balance Transfer Checks Tricks
Posted: Sun May 08, 2005 2:06 am
Here's the exact login http://online.firstusa.com/bolHome.aspx?partner=cmsfi
I'm the Credit Card Guru, YOU BET
Guest: Polonius
Credit Expert (100+ Posts)
Post subject: Chase Balance Transfer Checks Tricks
Posted: Sun May 08, 2005 9:50 am
OK--so you're confirming what I said: that the merger hasn't gone through completely yet. When it does, the BankOne site will disappear and everything will be under the Chase name.
I love these so-called "mergers"--they're not mergers but are buy-outs. One firm disappears. BankOne bought out FirstUSA; now Chase has bought out BankOne. Chase did that with Chemical Bank some years ago; it took a while for my ChemBank credit card to show up on the Chase site, but now there's no hint that Chemical ever existed online at the Chase site.
Guest: CreditCardGuru
Post subject: Chase Balance Transfer Checks Tricks
Posted: Mon May 09, 2005 12:09 am
Some mergers never change names like the AOL TIme Warner merger, they went to AOL Time Warner but then split back up into two different names because it was cheaper that way. I find it hard to believe Chase buying out Bank One, they are both big banks, also amazed the FTC/FCC approved the merger/buy out.
I'm the Credit Card Guru, YOU BET
posted by CardRatings.com at 8:47 PM
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