• Report: #198589

Complaint Review: CHASE BANK - BANK ONE

  • Submitted: Wed, June 28, 2006
  • Updated: Mon, July 31, 2006

  • Reported By:A New York
CHASE BANK - BANK ONE
PO Box 15298 Wilmington, Delaware U.S.A.
  • Phone:
  • Web:
  • Category: Banks

CHASE BANK - BANK ONE Unfair Rate Jacking By Chase Bank & Change Due Dates ripoff Wilmington Delaware

*Consumer Comment: I am glad...

*Consumer Comment: I am glad...

*Consumer Comment: I am glad...

*Consumer Comment: Bravo Steve

*Consumer Comment: Joe... Same thing happened to me!

*Consumer Comment: Cardmember Agreement

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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

Joe
A, New York
U.S.A.

This report was posted on Ripoff Report on 06/28/2006 07:53 AM and is a permanent record located here: http://www.ripoffreport.com/r/CHASE-BANK-BANK-ONE/Wilmington-Delaware-19850/CHASE-BANK-BANK-ONE-Unfair-Rate-Jacking-By-Chase-Bank-Change-Due-Dates-ripoff-Wilming-198589. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 Consumer Comment

I am glad...

AUTHOR: Thomas - (U.S.A.)

you guys can, or could, afford to carry credit card balances. Some folks with substantial CC balancees are getting hit with 25% to 30% interest and they could be in real pain.

Us carry credit card balances? No way. We never could 'afford' it. And, I guess, we have had no need to.... MBNA raised us to 26% or something on our CC, but it is all irrelevant because I always pay the account balance off every month anyway.

Those 'special checks' they send go into the shredder, and I have wondered if I should provide the shreds to the birds for their nests.

Our credit score? I have no idea. But we don't need credit from anyone, anyway. But I notice that the banks' employees where we have accounts are really, really nice to us...
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#2 Consumer Comment

I am glad...

AUTHOR: Thomas - (U.S.A.)

you guys can, or could, afford to carry credit card balances. Some folks with substantial CC balancees are getting hit with 25% to 30% interest and they could be in real pain.

Us carry credit card balances? No way. We never could 'afford' it. And, I guess, we have had no need to.... MBNA raised us to 26% or something on our CC, but it is all irrelevant because I always pay the account balance off every month anyway.

Those 'special checks' they send go into the shredder, and I have wondered if I should provide the shreds to the birds for their nests.

Our credit score? I have no idea. But we don't need credit from anyone, anyway. But I notice that the banks' employees where we have accounts are really, really nice to us...
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#3 Consumer Comment

I am glad...

AUTHOR: Thomas - (U.S.A.)

you guys can, or could, afford to carry credit card balances. Some folks with substantial CC balancees are getting hit with 25% to 30% interest and they could be in real pain.

Us carry credit card balances? No way. We never could 'afford' it. And, I guess, we have had no need to.... MBNA raised us to 26% or something on our CC, but it is all irrelevant because I always pay the account balance off every month anyway.

Those 'special checks' they send go into the shredder, and I have wondered if I should provide the shreds to the birds for their nests.

Our credit score? I have no idea. But we don't need credit from anyone, anyway. But I notice that the banks' employees where we have accounts are really, really nice to us...
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#4 Consumer Comment

Bravo Steve

AUTHOR: Carl - (U.S.A.)

I also had a normal credit score of about 675, never late. Got the default rate, and have taken apparantly the same route as yourself. I suggest everyone do the same..

Get too greedy, get nothing.
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#5 Consumer Comment

Joe... Same thing happened to me!

AUTHOR: Steve - (U.S.A.)

Joe,

Not just Chase, although I had 4 different accounts with them, I had many others too.

They all did it simultaneously to me, and I had perfect credit for 14 years with a 735 credit score.

I took the other route after trying several times to fix it.

I walked away and became invisible. Chase alone ate more than $28k. It is past SOL now and cannot be collected, and I have rebuilt lots of good credit. My score went down to a 385 and is now up to 605 as of 2 months ago.

They made their own bed. Greed and Arrogance is a bad combination!
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#6 Consumer Comment

Cardmember Agreement

AUTHOR: Justin - (U.S.A.)

If, indeed, you read your cardmember agreement, you would realize that NO terms are static in it, and for ANY reason WHATSOEVER the terms on a credit card account can change.

And don't feed me the "who reads those, anyways?" argument: you should know and understand every single contract your name is signed or agreed to: these are legally binding contracts, and you should beware when dealing with credit of an unsecured nature.

If you were capable of understanding exactly what they made their decision on, you would understand they simply made a business decision. You are a risk: you have high balances, you are late on other accounts, overlimit, heck, if they think you are a terrorist or a risk in any way, THEY CAN DO WHAT THEY WANT. They are reasonable to a degree, but they have to maintain viability for us stockholders: I'm sure you understand.

but hey, that's why all of us revolve credit, anyways.
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