Pay over time - what a joke!
For anyone who is using a pay over time, be warned that if you pay an amount outside of your monthly payment and interest saving balance it in fact does not go toward your pay over time plan. A representative on the phone told me it would, as well as the attached message when I made extra payments. I have now paid over the amount of the pay over time plan and plan still says active and is asking for a $800 payment for 3 more months to pay the plan off.
Not only have I paid the plan off my balance is also now lower than before I started the plan. Went into a chase bank to talk to a rep, they said they can’t do anything and called “the back office” they said a percentage of extra payments goes toward your pay over time plan. I asked them what percentage, because the amount they are saying I owe each month is not lower, therefore a percentage must not be coming off of the total due. So now I will be making 3 payments of over $800 after already paying more than what I as owed.
Beyond frustrated and this is an exact reason I don’t bank with Chase, only have a single credit card.
Wanted to pass this info along for anyone that might need it.