JP Morgan Chase Ripoff Bait and Switch Finance Charge Rate Used On Me Too Wilmington Delaware

I have three credit card accounts with JP Morgan Chase (JPMC) (aka BankOne), (aka FirstUSA). Previously and aside from the two AKAs mentioned, one had been with Wachovia. Chase had bought out my accounts from the various institutions over the past several years.

I had originally signed on with FirstUSA and Wachovia clearly for appealing finance charge rates varying from 6.99 to 9.99 %.

In the summer of '05, I looked closely at my online statement for the [what I refer to as] "Old Wachovia" VISA account information. It appeared to have somehow been maladjusted to 29.49% from what had been varying rates well under 10%. I contacted JP Morgan Chase IN WRITING (not that there's any benefit to that) regarding this apparent error and was informed back via postal mail that several months prior I had been sent notice of the impending rate increase and there was nothing I could do. I do not recall seeing any notice......

Nevertheless, the balance was such that I decided to adjust and have since brought that balance way down. I also decided to keep a keen eye out for any additional "notices" from Chase.

Indeed, about two weeks ago, I received via Postal Mail 2 obscure notices which appeared as, and that I would normally consider "Junk Mail" come through my door's mail slot. These two notices each separately referred to my other two credit card accounts I have with chase, in small type "your account ending in xxxx..." and "increasing to 21.74..."

I used these two accounts last year for major expenses at promotional rates (2.9 - 5.9 % FIXED, LIFE-OF-LOAN), and was not about to let these notices go "unnoticed".

The options were to close the accounts in writing by 1/23/06 and keep the current terms intact, else succumb to their greed. I also could not use the cards after 2/1/06.

Today (1/3), two separate letters went from me to Chase indicating I am closing the accounts, I expect to be held to the terms of the credit account as they stand now, and briefly the WHY (finance charge increase unacceptable).

I too have never missed a payment on ANY of my credit card, or loan accounts. My balances are high, but to the same extent, there has been neither verification of my income by Chase which might give an income/debt ratio nor an investigation as to what my living expenses are so as to justify my perhaps being a high credit risk.

JP Morgan Chase clearly is sending out these very obscure notices that appear to be unimportant and I suspect many, as I did with the first one about 6 months ago, are just tossing them in the trash. These notices DID NOT come in envelopes - they were folded up paper, yet they were sent "First Class Mail", lending the only credence to their jack-up-and-jack-off program they have seemed to embark on.

Stay Away From JP Morgan Chase Bank, BankOne, any other aliases they may be going by, and any other banks they may be in "negotiations with". They are "bad company" to be around. If you own stock in Chase, I suggest SELLING SHORT !!


Carl
Rockville, Maryland
U.S.A.