{"id":271,"date":"2009-02-25T13:36:00","date_gmt":"2009-02-25T13:36:00","guid":{"rendered":"https:\/\/www.smartbalancetransfers.com\/?p=271"},"modified":"2020-09-29T11:32:24","modified_gmt":"2020-09-29T11:32:24","slug":"chasecredit-card-low-interest-rates","status":"publish","type":"post","link":"https:\/\/www.smartbalancetransfers.com\/blog\/2009\/02\/chasecredit-card-low-interest-rates\/","title":{"rendered":"Chase Chases Credit Card Customers with Low Interest Rates"},"content":{"rendered":"\n<p>Apparently, a low fixed APR for life isn\u2019t entirely as low, fixed or long lasting as the description may lead one to believe.&nbsp; Recently, Chase has been adding $10 monthly service charges to credit card accounts with low interest rates and large balances that are more than two years old.<\/p>\n\n\n\n<p>This new fee, which is added to the higher, variable APR, is only the beginning.&nbsp; More strikingly, Chase has raised the monthly minimum payment on many cardholders with low rates from 2% to 5%.&nbsp; This move, much more so than the $10 fees, can mean the difference between keeping current with monthly payments and falling behind.&nbsp; In fact, it is downright cruel to many creditworthy people struggling to get out of debt the honest way.<\/p>\n\n\n\n<p>Just how dramatic this increase in monthly payments is best exemplified by a person with a $10,000 balance.\u00a0 At 2%, the monthly payment on the card is a reasonable $200.\u00a0 However, when that payment is bumbed to 5%, the payment balloons to $500 a month.\u00a0 For many, that $300 monthly increase could be the difference between getting by and giving up. For those who can\u2019t afford to keep up with the payments, a\u00a0<a href=\"https:\/\/www.smartbalancetransfers.com\">balance transfer<\/a>\u00a0may be the best option.<\/p>\n\n\n\n<p>In the short run, Chase risks pushing honest, hardworking Americans who would never consider defaulting on their payments into a corner.\u00a0 In the long run, Chase risks chasing away credit worthy customers and damaging their brand.\u00a0 Who would want a\u00a0<a href=\"https:\/\/www.smartbalancetransfers.com\/chase-credit-card-offers\/\">Chase credit card<\/a>\u00a0if they were aware that Chase clearly reserves the right to push customers to the brink?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Apparently, a low fixed APR for life isn\u2019t entirely as low, fixed or long lasting as the description may lead one to believe.&nbsp; Recently, Chase has been adding $10 monthly service charges to credit card accounts with low interest rates and large balances that are more than two years old. This new fee, which is [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Chase Chases Credit Card Customers with Low Interest Rates<\/title>\n<meta name=\"description\" content=\"Chase raised minimum monthly payments on certain consumers with low fixed interest rates from 2% to 5% and also adds a $10 fee. So much for a fixed for life balance transfer.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smartbalancetransfers.com\/blog\/2009\/02\/chasecredit-card-low-interest-rates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chase Chases Credit Card Customers with Low Interest Rates\" \/>\n<meta property=\"og:description\" content=\"Chase raised minimum monthly payments on certain consumers with low fixed interest rates from 2% to 5% and also adds a $10 fee. 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