"Time To Say Goodbye!"

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Written by: mcnally on 2008-04-20

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mcnally's review: Callout Comment How can we allow companies to do this to consumers"

Having had my card for 3 years at 7.99% APR, imagine my surprise to receive a notice from Chase that they are increasing my rate to 23.99%. I called Chase to be told that it followed a review of my credit report with Experian. I immediately went onto Experian and got my credit report and score, and there was nothing on my report and my score was 720. So I called Chase back to let them know this, and was told "great, good job, well done - now all you have to do is write a letter to Chase and plead your case, and fax it to this number." Wow, did not see that coming - Of course I am not going to plead anything with them. Never late, never carried more than 50% of available credit as a balance - so goodbye Chase. I don't expect for one moment that they care either.


Comment 1 by robby
They're Robbing Us! User Icon on 2008-04-20

Remarks Maybe the downward spiral also known as the US Economy is the reason behind why CHASE and CITI are acting wierdER..

they have been known to be WEIRD before, like cutting your credit limit!
Comment 2 by yoyo11
HI User Icon on 2008-04-20

Remarks Three of my friends received notices of APR increases... Capital One, and Chase... Another is me at Orchard Bank. From 14.90 to 26.95 they said also that the looked at my credit report. Per my credit monitoring... Guess what no hit from Orchard Bank. I begged an pleaded with them to go back to 14.90 he said that he was sorry but could not do anything. I just paid the balanceand called it a day. Guess what my last statement did not have in APR increase.

So it's still 14.90. I believe it's the U. S economy... LOL
Comment 3 by johnsons
Never Get Chase User Icon on 2008-09-30

Remarks About 4 months ago, I got an amazing offer from Chase Credit Cards for 0% interest on purchases and balance transfers until October 2009. I decided to take it and transfer my one other balance to this card since it was a better deal. I never received any terms and agreements or statements by mail, but I thought everything was ok since I could see everything online. A month went by and I was able to go online and pay my bill. The next month, I couldn't get to my account online. I called Chase 4 times and couldn't get past the recording or kept getting transferred to a line that didn't work (I still have 3 names from the calls). I called a second number and the technician there was great and told me not to worry, my account would be up the next day. I checked and it was not. 3 more phone calls over the next 3 days to Chase and I still could not get to anyone that could help me. 3 different customer service reps told me that I could just pay online when my account was up and there would be no penalty. So, I took their word for it. Then, on a Saturday morning at 7:30am, I got a call from a Chase rep saying that I had not paid my bill and therefore my rates would be going to their defaults of almost 14%. I freaked out, paid the bill over the phone (which cost me an additional $50) and when I woke up, I called 7 times. After 7 calls I finally got to an "advisor" that listened to the whole scenario:

I never received anything in the mail about this account, I could not get online to pay it, I wasn't receiving statements I could send my payment in with and whenever I called I was assured that I would not be penalized because online being down was not my fault.

He told me that they would review my case and I would receive a letter in 7-10 business days letting me know if they decided to lower my rate back down to 0%. I received a letter that said they had reinstated the "original rates" about 12 days later. I thought the ordeal was done. However, this month I checked and my interest rate is almost 8%. And, just to add fuel to the fire, they sent me 8 offers in the mail that were the exact one that I originally signed up for (0%).

I spent 1.5 hours on the phone getting transferred from customer service to billing to collections back to customer service then finally to another "advisor" (CJ Lamay) who informed me that even though I was not at the 0% that I signed up for, I was also not at the 14% that I had paid when I "defaulted" on my payments. But they couldn't put me down to the original offer because there were late fees in my account history, though they had been removed at some point. I asked him if I could transfer everything over to a new account using one of the 8 promotions they had sent me (seemed like a reasonable and amicable solution) but was told that I could not pay a Chase card with another Chase card. He did offer some great advice though - I could open a new line of credit, get a check with it, pay the associated fees with that, put the money needed to pay off my balance into my checking account, then close the original account, all to get the offer that I had originally signed up for, but I would have to wait 90 days to do that. I thanked him, hung up and went to capital one where I now have a 0% interest, rewards bearing card that I was able to create online and be approved instantly for, that I have transferred the balance of that chase card to. Please learn from my mistake and NEVER SIGN UP FOR A CHASE CARD!!!
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