We have also been sent a wonderful notice of Interest Rate jacking by Chase (formerly Bank One) This notice is so confusing that you need a lawyer to figure it out.
We do not see any legitimate reason for this bank to do this. We have good credit and our payments have always been on time and have always been for far more then the minimum due. We were trying to get this card paid off when we received this notice. I know what our credit score is and it does not warrant a default rate. We have had low rate offers from other banks so what is their reasoning for this?
This bank has recently sent us loan checks for this account and we have received numerous credit card offers from the same bank after this notice was sent to us. You figure this out.
If we used those so called low rate loan checks we would have had a larger balance stuffed up our behinds.
This is like having a thief pick your pocket but there is nothing that you can do and they get away with it. It should be labeled a scam!
The government needs to make some changes in the banking industry but they never will. They need to fine these crooks for ripping people off. I hope a lawyer somewhere finds a loophole that will allow many consumers to sue these thieves and hit them right where it hurts. This practice needs to be stopped.
In this notice they sent, it sounds like if you cancel your card that you will automatically be hit with the default rate and they can request the ENTIRE balance due. What a bunch of bull. Usually if you cancel a card you can keep your old rate until it is paid off.
I can't even figure out just what they plan on charging us, I see "could be this or could be that" and many things about charging default rates. Pretty soon it will be because you sneezed.
Another thing to BEWARE of is Chase Bank likes to change your due dates to try to confuse you into missing a payment. They tried that with us but it didn't work.
I have seen these horror stories before and they keep getting worse. Can't anyone do anything about this? They are nothing but a bunch of crooked blatent liars and thieves.
I will be paying this off and any other accounts we have with Chase. I also plan on writing them a letter. This bunch of bull will not go without them receiving a letter from me and telling them what they can do with their account. BEWARE
Good Bye Chase
A, New York