Comments on: Is Chase Raising Credit Card Rates on Everyone?

By: Balance Transfers Helper

Balance Transfers Helper — Wed, 06 Jan 2010 16:45:09 +0000

Marlene, I would be wary of using those low rate checks. Balance transfer checks and promotional deals are often sent from different departments, so one department may raise your interest rate and cut your credit limit without knowing you have a 0% balance transfer offer. When you go to use the balance transfer checks, they could be denied, resulting in evermore fees. Bankers are truly low creatures these days.

By: Marlene

Marlene — Wed, 06 Jan 2010 16:31:03 +0000

I am so mad at Chase credit card they are just worse then loan sharks. I received my first statement for this 2010 year and to my surprise my interest rate was increased from a low interest rate to 14.99% and the latest to 20.24% interest rate. I have been trying to pay this credit card off for over one year by sending payments over my minimum required. I contacted Chase and told them way was my rates increased when I have not used my card and have been paying my cards over the minimum to get them paid and they stated that it was due to the economy not by my payment history. At the sametime, I received another letter stating that since I was such a good customer they can offer me a 0% interest for 9 billing cycle period or 2.99% for 18 billing cycle period to borrow more money but they could not help me with my current rate. How in the world does that make any sense? They are worthless theives irresponsible finacial suits. They lend to people that can not afford a loan and turn around a get our tax money and still stick us with hefty interest rate hicks. I hate every single credit card out there for being the corporates for our financial collapse and making us the smaller percentage of responsible individuals that are responsible in managing our budgets and that end up paying for the irresponsible bankers & their customers that were idiots enough to think that the bankers were out there to help them. Bankers are lower then earth worms in my humble opinion.

By: molly

molly — Mon, 04 Jan 2010 01:20:32 +0000

This is insane! I was never told/mailed anything! I got 2%. You know what I’m gonna call them tomorrow and if they ain’t gonna so anything I’ll just simply tell them to keep there recorders ready and sue me for there $10,000 balance. Screw them. I’ve been faithful to this accout for 7 years and never late. I/we consumers bailed them out and this is what we get?

By: Tresa Duldt

Tresa Duldt — Mon, 28 Dec 2009 23:07:42 +0000

All of my accounts with Chase, business and personal, have been given much lower credit limits. I have always had high credit limits – up to $30,000 on one of our accounts and that account was just lowered to $500 although I paid the account in full just a week earlier. I paid all of our Chase accounts the previous week and for this? The reason they gave was the balance owed was too high; number of accounts currently in use (I am a business owner with traveling employees) and rapid increase in revolving balances (business owner with employees). What is this? What bank is better?

By: Dave

Dave — Sun, 29 Nov 2009 00:09:08 +0000

Raised my cc rate from 15% to almost 24% for no reason. Said they sent me a letter which was never received. Said close the account or pay the higher rate even though closing the account lowers credit scores. No doubt they’ll then raise rates on any other accounts you have becuase you credit score went down. I had 2 other accounts with chase including a Southwest Airlines Rapids Rewards Visa which I went ahead and closed. DON’T BANK WITH CHASE!! THEY’LL SCREW YOU OVER IN A HEARTBEAT.

By: Mila

Mila — Mon, 23 Nov 2009 17:02:24 +0000

2%? It is not much! I had 6.99% before March 2009. In March that rate went up to over 12%, and a few days ago I got a letter form Chase. They raise my interest rate to over 22%!!! That is a rip off. I have a perfect credit score and never was late with any payments. What is going on? When I called them, I was told that there are two things I can do: accept the new terms or close the account. However, both of these options negatively affect my credit score. Is there any place I can complain about this kind of practice?

By: Balance Transfers Helper

Balance Transfers Helper — Fri, 20 Nov 2009 16:06:44 +0000

Karen, It seems the rate increases are unlimited and the rewards for being a good customer are non-existent. You may want to consider getting a new card from a different company and doing a 0% balance transfer to move your debt off this card.

By: Karen P

Karen P — Fri, 20 Nov 2009 13:11:35 +0000

I received that same interest rate hike effective March 2009. When I called they pretty much said accept it or opt out. I accepted since I need an open line of credit. I have never missed a payment, been late on a payment, exceeeded my credit limit, or violated my credit contract in any way. My credit score is excellent. There was no reason for the rate hike.

For the second time this year I have received a rate increase notice. This will bring my total increase to eight points since this time last year. Again, I call and I’m told too bad, so sad, accept it or leave. The rep willingly told me that I did nothing wrong they just need to raise rates to stay in business. Again, I have to accept to have an open line of credit. I also questioned if the increase will apply to past purchases. After beating around the bush and telling me she doesn’t know for sure she finally admits that it will apply to past purchases and becomes effective January 2010. So convenient that this goes into effect right before the new legislative laws put in place to help consumers avoid these fraudulent acts.

Now here are my questions: How many increases can be imposed on a good user for no reason? Where is the reward for being a loyal customer for five years and never missing or being late on a payment? Why did the government put a date on the effective date of the new laws and why are these companies allowed to do anything they want to hurt the consumers before it becomes effective? The damage is already done. The middle class suffers more. These laws are causing more bad than good because the credit companies are scrambling to cover themselves by preying on those they know will bail them out–the ones that pay their bills!

Chase should be ashamed.

By: Balance Transfers Helper

Balance Transfers Helper — Wed, 21 Oct 2009 21:52:24 +0000

In the past, most banks would have removed the fee for you. Today, they seem to use any excuse they can to charge higher rates. I hope you are able to transfer you balance away to a different card. No one should be paying 30% interest rates to anyone but a loan shark.

By: Liz Johnson

Liz Johnson — Wed, 21 Oct 2009 19:27:37 +0000

I opened my credit card account almost 10 years ago with Providian then Wamu took over and Chase. I have NEVER been late on a payment and ALWAYS pay more than the minimum. Last month I went over my limit by $8 and received a $39 fee for it. I understand and made no fuss about paying it. Last week I received a letter advising me that my interest rate will be increased from 15% to an outrageous 30% in January. I called 3 different times and spoke with everyone I could about stopping the increase as it was a small error and I have always been a loyal client. All I got was thank you for being a great customer but there is nothing we can do. This is just plain wrong and can’t believe the way they have handled my situation. I will NEVER deal with Chase again and will make sure to tell as many people as I can about this outrageous behavior. I will stick with Capitol One from now on as they have always been great to me even when I did make an error…

CHASE BANK SHOULD BE ASHAMED OF THEMSELVES!!!

By: randy lange

randy lange — Fri, 10 Jul 2009 21:43:46 +0000

I got my statement this month and noticed that my APR had doubled! When I called them up they said it was a “business” decision. I told them that it was disgraceful and that I would be making my own business decision to no longer use them for CC needs. We all need to publicize this and shame these guys…they probably don’t care but let’s at least not let them do this quietly. The bottom line here folks, is that if you are a slave to the credit card companies…they own you. Pay off your credit and stay out of debt!

BTW, can anyone recommend a credit card company who you’ve found to be ethical and/or more trustworthy than Chase?