Chase Credit Card Account Service Charge Ammendment is unfair - punishment for good credit? Wilmington Delaware

On 11/18/08 I opened my statment to find an important notice regarding changes to my account. The notice includes - a charge of $10.00 month ($120 year) service charge and a minimum payment increase from 2% to 5%.

The key factors they considered when making that change includes the current aprs and revolving balances associated with the account. They also wrote that If I have any questions regarding these changes to contact them by calling the customer service number on the back of my card.

Well I did have questions, so I called. My first questions were why the service charge, and increase in payment. I know I have great credit, nothing negitive- only on time payments, low debt to income ratio, good credit availibility. Their answer was "they are a business" and I have not used the card in 24 months. Well this brought me to my next question "can I opt out?" His answer was no. I then told him that I didnt think that was fair because if I had known that I had to use the card for purchases to avoid the new Account Service Charge I would have done so.

I am not happy with Chase. I feel that I am being punished for my good credit. I carry a low interest rate (promotional 3.99% apr for life of balance) that I earned for being responsible with my credit. I have always held up my end of this contract by paying on time, making double payments, and not exceding my credit limit.

Now I am being targeted for this finance charge increase because I have a low interest rate (that I earned). To make this even harder to swallow, my minimum payment has jumped to 5%. I have always made double payments voluntarily, but now im required to make double and a half payments.

Not that it matters to Chase, but this is the card I used to pay off my 2nd mortage. My 2nd mortage rate jumped pretty high and I saw this credit offer as a way to help our family maintain when the economy first started to decline.

They have defaulted in my opinion. They offered 3.99% for the life of the balance. Well the balance is not paid and now they are changing their terms. with no negotiations or opt outs.

Not to mention if I close the accounts (2), it will negatively affect my credit score because I have a large portion of my available credit with chase.

Cheated by Chase

Mary
Fayetteville, North Carolina
U.S.A.