Report: #430928

Complaint Review: Chase Visa Card

  • Submitted: Wed, March 04, 2009
  • Updated: Wed, March 04, 2009
  • Reported By: Lincoln Nebraska
  • Chase Visa Card
    P.O. Box 94014
    Palatine, Illinois

Chase Visa Card 2.99,3.99, and 4.99% for the life of the loan. Now I get an extra $10/mo finance charge for having a balance plus. Palatine Illinois

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For quite a few years now I have had a Visa Credit card with Chase. I have good credit and pay my bills on time. I never used the card for purchases as the credit line was higher than others I have. I used it exclusively to take advantage of their promotional offerings of low interest rates "for the life of the loan" --transferring money from higher rate cards when my balance was low enough to warrant it. When there was a problem, it was always taken care of promptly.

Suddenly I recently received NOTICE that I would be billed $10 each month that I had a balance on the card. This is listed as a finance charge on my statement. They also increased my monthly minimum payment more than double - or 5% of the balance. Before, I paid more than the minimum amount due but never what they want now.

Because I only have the promotional amounts on my bill and no purchases, I am being charged more than the promised interest when they add on the $10.
Seems like a breech of contract. I have to pay them or they up my rates or I lose the promotional rate.

I dont have any rate over 4.99% and over 1/2 is below that. My billing statement says I am now paying an Effective Annual Rate of 5.74%. It's still below what other cards are but not what I signed up for.

Wary but wiser
Lincoln, Nebraska
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This report was posted on Ripoff Report on 03/04/2009 09:18 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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