Good news for Chase customers that got socked with a their new monthly service charge… According to recent reports, they’ll stop charging this fee in April, and will be refunding previous months’ charges.
“Beginning in April, and based on customer feedback, Chase will stop charging the $10 monthly service charge and credit the service charges billed to date,” said Chase spokeswoman, Stephanie Jacobson.
That’s the good news, especially for those that still have a low rate balance transfer. The bad news is that Chase won’t be rolling the increased minimum payments (from 2% to 5% of the existing balance) that they instituted for these same customers.
“Our desire is to have these balances paid back in a reasonable period of time,” Jacobson said. “The minimum payment due will remain the 5% of their new balance.”