• Report: #418329

Complaint Review: CHASE BANK USA

  • Submitted: Fri, January 30, 2009
  • Updated: Sat, February 21, 2009

  • Reported By:Fernley Nevada
CHASE BANK USA
PO BOX 17199 WILMINGTON, Delaware U.S.A.

CHASE BANK USA - JPMORGAN A despicable practice to rip off consumers! Attention former WaMu credit card holders. WILMINGTON Delaware

*Author of original report: Chase Bank Wilmington Delaware, report them to the OCC

*Consumer Suggestion: Don't you write down your confirmation number?

*Author of original report: Chase Bank unethical practices continue, stand up and be counted.

*Author of original report: Chase Bank USA. An available resource to report their unethical practices

*Author of original report: Chase Bank APR rip off of consumers.

*Consumer Comment: Well...

*Consumer Comment: Well...

*Consumer Comment: Well...

*Consumer Comment: Well...

*Consumer Comment: Rate increased explained

*Consumer Comment: Rate increased explained

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I am a disabled retired senior citizen. I have a good FICO score and alway's paid my bill's on time and for more than the minimum amount due. I had been a Mastercard holder of Wamu Bank for several years.

Chase Bank USA took over Wamu recently. On 11/29/08, I felt ill with symptoms that indicated I needed to be seen in the emergency room at the local hospital.I took some time to pay some of our bill's and made an online payment to WaMu as was my habit to do. I didn't want my husband to have to worry about these things if I was to enter the hospital. I was admitted. Apparently, I, in my haste, didn't press enter and therefore, my online payment didn't go through. I rec'd a late notice from WaMu, called them immediately to explain what must have happened and made a telephone payment.

I have now rec'd my first statement from Chase Bank USA, and my APR went from 11.94% with WaMu to 27.24% with Chase. I called, spoke to a customer service rep to ask why and was informed as follows: "You will have to build a long term relationship with Chase before or IF your APR would be lowered. It may take 1-2-3-yrs or more to change, IF AT ALL." Our mortgage is "upside down", now we are being punished by irresponsible banking practices. READ YOUR CREDIT CARD STATEMENTS VERY CAREFULLY. Any help out there please. It's not the "Golden Years" for us..just for them!

Carol
Fernley, Nevada
U.S.A.

This report was posted on Ripoff Report on 01/30/2009 05:39 PM and is a permanent record located here: http://www.ripoffreport.com/r/CHASE-BANK-USA/WILMINGTON-Delaware-19850-7199/CHASE-BANK-USA-JPMORGAN-A-despicable-practice-to-rip-off-consumers-Attention-former-Wa-418329. 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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#1 Author of original report

Chase Bank Wilmington Delaware, report them to the OCC

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

Write your situation with Chase/WaMu or any other bank that raised your APR to outragious rates and their unethical business practices and how it has effected you to Comptroller of the Currency, Administrator of National Banks, Customer Assistance Group 1301 McKinney Street, Suite 3450, Houston Texas 77010-9050. Internet address: www.helpwithmybank.gov, Phone: 800-613-6743. I did contact them and now have a case number and hopefully will get some assistance as they also raised my APR to a rate of nearly 28%. You can read here what happened to me. Let's all say "I'm mad as hell and I'm not going to take it anymore."
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#2 Consumer Suggestion

Don't you write down your confirmation number?

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

Whenever I make a payment online, I always print out my receipt with my confirmation number. That way I will never have the problem with forgetting to hit enter or submit. Most people at least write the confirmation number down.

I'll bet they must get hundreds of calls a day from people who really didn't make their payment, but said they did and must not have hit enter. So, without a confirmation number, they would be hard pressed to believe you since all the real fibbers ruined it for you.
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#3 Author of original report

Chase Bank unethical practices continue, stand up and be counted.

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

The list of complaints are growing daily. FYI, the CEO of JPMorgan/Chase is JAMIE DIMON. Get a letter off to him re your situations. Be recognized and counted. Send your story to the Comptroller of Currency's, (OCC's) Consumer Assistance Group. According to a Nevada member of Congress that I wrote my complaint to, the OCC may help us reach a satisfactory resolution to this problem with Chase. I've heard that there is a law office in New York state that may have a class action law suit against Chase for their conduct with consumers. Get online and find the contact information for Mr. Dimon and the OCC, let's sharpen our pencils and get started.
"In unity, there is strength."
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#4 Author of original report

Chase Bank USA. An available resource to report their unethical practices

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

The Attorney General of Nevada referred me re any complaint against Chase to write to: OFFICE OF THE COMPTROLLER OF THE CURRENCY
CUSTOMER ASSISTANCE GROUP
1301 MCKINNEY ST., STE 3450
HOUSTON, TX 77010
(800) 613-6743
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#5 Author of original report

Chase Bank APR rip off of consumers.

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

I live in Nevada and wrote out my complaint re Chase Bank USA with copies of emails between WaMu and myself and copies of statements for a few months showing what my APR was with WaMu and how it went up to a default rate with Chase and sent all to the Nevada Attorney General, Bureau of Consumer Protection.
They referred me to The Office of the Comptroller Of The Currency
Customer Assistance Group
1301 McKinney St., STE. 3450
Houston, TX 77010
(800) 613-6743
This is an agency of the U.S. Treasury Department that has sole jurisdiction over all matters concerning national banks and actively pre-empts any action by any state to enforce deceptive trade laws, thus, the only governmental agency that can assist us in this matter.
They have forwarded by information and I will keep all informed. We that have been burned by Chase need to push back, hard.
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#6 Consumer Comment

Well...

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

First Chase does not "officially" take over WaMu until March 6th. Until that time you are still under the terms of your WaMu Card.

Included in the terms of your WaMu Card was conditions that if you were ever late they had the right to increase your interest rate. This has nothing to do with the merger with Chase, or even only with WaMu. Most major credit card companies will automatically increase your interest rate if you are late. WaMu would have done exactly the same thing even if they didn't merge. They don't care about the reason it wasn't late, just that it was late.

The funny thing is, you get people who come here to complain that they were never notified of these change in terms. I have 1 WaMu Visa card and have already been notified 3 different ways that the terms are changing effective March 6th. Perhaps I am getting all of the notices of the people who claim they don't get them..Or perhaps they actually don't take the time to read...

Oh and by the way I have never been late, and yes I also have an increase in interest rate. So they are doing it to every card holder.
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#7 Consumer Comment

Well...

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

First Chase does not "officially" take over WaMu until March 6th. Until that time you are still under the terms of your WaMu Card.

Included in the terms of your WaMu Card was conditions that if you were ever late they had the right to increase your interest rate. This has nothing to do with the merger with Chase, or even only with WaMu. Most major credit card companies will automatically increase your interest rate if you are late. WaMu would have done exactly the same thing even if they didn't merge. They don't care about the reason it wasn't late, just that it was late.

The funny thing is, you get people who come here to complain that they were never notified of these change in terms. I have 1 WaMu Visa card and have already been notified 3 different ways that the terms are changing effective March 6th. Perhaps I am getting all of the notices of the people who claim they don't get them..Or perhaps they actually don't take the time to read...

Oh and by the way I have never been late, and yes I also have an increase in interest rate. So they are doing it to every card holder.
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#8 Consumer Comment

Well...

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

First Chase does not "officially" take over WaMu until March 6th. Until that time you are still under the terms of your WaMu Card.

Included in the terms of your WaMu Card was conditions that if you were ever late they had the right to increase your interest rate. This has nothing to do with the merger with Chase, or even only with WaMu. Most major credit card companies will automatically increase your interest rate if you are late. WaMu would have done exactly the same thing even if they didn't merge. They don't care about the reason it wasn't late, just that it was late.

The funny thing is, you get people who come here to complain that they were never notified of these change in terms. I have 1 WaMu Visa card and have already been notified 3 different ways that the terms are changing effective March 6th. Perhaps I am getting all of the notices of the people who claim they don't get them..Or perhaps they actually don't take the time to read...

Oh and by the way I have never been late, and yes I also have an increase in interest rate. So they are doing it to every card holder.
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#9 Consumer Comment

Well...

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

First Chase does not "officially" take over WaMu until March 6th. Until that time you are still under the terms of your WaMu Card.

Included in the terms of your WaMu Card was conditions that if you were ever late they had the right to increase your interest rate. This has nothing to do with the merger with Chase, or even only with WaMu. Most major credit card companies will automatically increase your interest rate if you are late. WaMu would have done exactly the same thing even if they didn't merge. They don't care about the reason it wasn't late, just that it was late.

The funny thing is, you get people who come here to complain that they were never notified of these change in terms. I have 1 WaMu Visa card and have already been notified 3 different ways that the terms are changing effective March 6th. Perhaps I am getting all of the notices of the people who claim they don't get them..Or perhaps they actually don't take the time to read...

Oh and by the way I have never been late, and yes I also have an increase in interest rate. So they are doing it to every card holder.
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#10 Consumer Comment

Rate increased explained

AUTHOR: Phat1 - (U.S.A.)

Usually once you go to default rate banks look at several things which boils down to risk and profitability but here are the key points such as:

1) usage- more you use acct more profit fro them to offset expenses

2) creidt score- higher the score less percieved risk

3) payment history-which isnt the top priority like most think, what I mean is even if you have had excellent history and these other things dont fall into place your out of luck even if you had 30 years of great pay history. It comes to know and what profit have you made them lately

4)Balance- The higher the balance that has revolved for a long period of time can be risky, they look at money loaned as potential rsik if card is maxed out for long period of time that person usually is living beyong means and may default and you cant get money from the once they default.

Most think why make it harder for me to pay by raising my rate?

Easy look at it from their side:

1) Multiple late payments or overlimits raise the risk for accts, what happens when the rate is raised is the cm either pays it off transfers the balance somewhere else or defaults and when it defaults they usually collected so much in interest it doesnt matter the balance that was wriiten off because it was recooped in finanace charges. So its a win win for the banks the get the money one way or another or the get their subprime accts off thier books
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#11 Consumer Comment

Rate increased explained

AUTHOR: Phat1 - (U.S.A.)

Usually once you go to default rate banks look at several things which boils down to risk and profitability but here are the key points such as:

1) usage- more you use acct more profit fro them to offset expenses

2) creidt score- higher the score less percieved risk

3) payment history-which isnt the top priority like most think, what I mean is even if you have had excellent history and these other things dont fall into place your out of luck even if you had 30 years of great pay history. It comes to know and what profit have you made them lately

4)Balance- The higher the balance that has revolved for a long period of time can be risky, they look at money loaned as potential rsik if card is maxed out for long period of time that person usually is living beyong means and may default and you cant get money from the once they default.

Most think why make it harder for me to pay by raising my rate?

Easy look at it from their side:

1) Multiple late payments or overlimits raise the risk for accts, what happens when the rate is raised is the cm either pays it off transfers the balance somewhere else or defaults and when it defaults they usually collected so much in interest it doesnt matter the balance that was wriiten off because it was recooped in finanace charges. So its a win win for the banks the get the money one way or another or the get their subprime accts off thier books
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