Chase Taking Steps to Help Their Customers

It appears that Chase Card Services is also jumping on the customer-friendly bandwagon.  In order to help make it easier for their customers to understand their accounts, the company is launching a number of new tools. These tools include free alerts that will help cardholders make their payments on time by sending friendly reminders.  These reminders can be set up to be sent by email, phone, or text message.

In addition, the company will make it possible for cardholders to set up automatic payments each month, which means you don’t have to worry about missing a payment at all.  And, as an added incentive, the company will be offering a cash kickback to those that sign up for the service.  Not only will this help simplify your life, it will also guarantee that you don’t inadvertently miss a payment and find yourself socked with late fees and an increased interest rate.

Chase will also be starting to contact those customers that appear to be having financial problems in order to help them develop methods for getting their finances back on track.  Another tool Chase will be offering to help empower their customers are payment calculators, which will make it possible for customers to learn how much their payment affects their account and their balance over a period of time. 

According to Carter Franke, chief marketing officer for Chase Card Services, this initiative “will help our cardmembers maintain healthy credit, learn the benefits of responsible credit use and avoid fees.  This is good for our customers and good for us.”  Franke goes on to say “We want to build a long-term relationship with all of our customers.  We continually review our practices and policies and make adjustments to improve their value.”

It is good to see this new, kinder, gentler attitude being displayed by credit card companies.  Still, I can’t help but think of the fact that Chase is one company that routinely utilizes the two-cycle method for calculating finance charges – which is usually the most expensive method for calculating this expense.  But, I guess the company is taking a step in the right direction with their initiative to provide clearer terms and conditions.  To this end, the company has been providing the customers with information that is easier to read and to understand.  Chase is also working with advocacy groups in an effort to find ways to better help customers understand the terms and conditions of their credit cards.  It’s good to see these changes taking place, even if it seems as though it took the scrutiny of Congress to get the ball rolling.

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This entry was posted on Wednesday, March 7th, 2007 at 1:33 am and is filed under Credit Card News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.