Chase Credit Cards

When I first received my chase credit card I was ecstatic. It was my first cashback credit card, and I couldn't wait to put it to good use and get a little discount for paying my balance off on time.

The cashback reward was a straight 2% on every purchase, and I could request my payment when I had earned $25.00. My first check arrived a few weeks later.

It took me longer than expected to accumulate enough reward points to claim my $25.00. Also I had to contact them and tell them I wanted my $25.00, and then wait three to four weeks for my check to arrive.

This was a pretty slow process, and I wasn't really satisfied with how I had to go through the hassle of ordering my reward and waiting for it. I wish pay out was automatic, for instance, once I have reached the point level to receive a $25.00 check, they should send it to me and then I wouldn't need to request a check.

The straw that broke the camels back for this card was that it used the two cycle average daily balance method to calculate interest. When I first got the card I didn't have any idea what that meant but I found out later.

During the Christmas season I waited to deposit my paycheck, and I didn't have enough money to pay off my credit card balance without depositing it. So I went to my bank, but they were closed for the Holiday season, and I couldn't go the next day because my bill was due that day, and I decided to pay it online.

Anyways, I made the minimum payment, because I didn't want to get a late payment fee. When I got my statement the next month I was shocked at how much the interest was. Thats when I discovered what the two cycle method meant, and I immediately began searching for a better credit card.