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Thread: Chevron and Texaco Universal Card. A ripoff?

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    Forum Admin, Expert Plumber Terry's Avatar
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    Default Chevron and Texaco Universal Card. A ripoff?

    Chevron and Texaco Universal Card

    I've been using Chevron gas for years for the business. It was nice having to only write one check for gas at the end of the month.
    Instead of receiving the bill in the mail, it's now on-line. Only it doesn't say who the bill is from, it says something like "Statement Notification Alert-DO NOT REPLY [eStatementNotify@DocSight.net]

    So of course to me, it looked like spam mail and I didn't open it. I guess it was a bill for $388.98
    So that was last month.
    Guess what my service charge is for this month's billing based on the fact that I was late one month on $388.98?

    My fees on this months bill come to $119.93

    So I buy $388.98 worth of gas from Chevron, and my banking fees for the privilege of using their credit card comes to $119.93

    So I look on the back of the statement they send me.
    Late Fee
    If the customer does not make full payment of the total balance due by the Due date, then Customer shall pay a late fee (b) 5.75% of the NEW BALANCE.
    However is the customer is deemed to be high risk, than it's 8.99% of the NEW BALANCE.

    This isn't based on how much is due from the previous billing, this is based on the new billing amount.

    So the ding is 8.99 percent on the bill you just received. The bill you aren't even late on. But you were late last month, so this months purchases are going to cost you 8.99% more. That's an annual interest rate of 107.88%
    And if you don't buy 1,000 gallons of gas a month, then they can add more fees.
    And of course they charge a finance charge on top of that.
    So you have:

    Report delivery fee. ($10.00 a charge for sending you a bill)
    Late Fee (it can be 8.99% of this months "new" billing) 107.88% annual rate
    Finance charge (2.27% on last months billing) 25.25% annual rate

    Has anyone else just received a Universal Card from Chevron Texaco?
    What does your bill look like, and have you read the page with all of the small print?

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    an annual interest rate of 107.88%
    Last edited by Terry; 05-07-2011 at 11:31 AM.

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