Complaint Review: CHASE BUSINESS CARD - PALANTINE Illinois
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- Author Confirmed
- CHASE BUSINESS CARD www.chase.com/businesscards.com PALANTINE, Illinois U.S.A.
- Phone: 800-346-5538
- Web:
- Category: Banks
CHASE BUSINESS CARD UNAUTHORIZED RATE CHANGE PALANTINE Illinois
*Consumer Suggestion: Terms and conditions
Show customers why they should trust your business over your competitors...
Took advanatge of a Chase Business Visa Card convenience check for $43,000. 9 months at 0% then 9.9 max for what I thought was the life of the card.
Paid as agreed over about a year paid down the principal balance to under $36,000.
I looked at my current statement and the card shows 12.9%. I called Chase and they said they notified cardholders rates would be increasing on business cards. No lates - excellent credit - declining balance every month.
How can they do this if I entered into an agreement with 9.9% max? Has this happened to anyone else?
Can we get a class action - any attorneys out there want to help?
Joe
Paso Robles, California
U.S.A.
This report was posted on Ripoff Report on 06/24/2009 05:09 PM and is a permanent record located here: https://www.ripoffreport.com/reports/chase-business-card/palantine-illinois-60094-4014/chase-business-card-unauthorized-rate-change-palantine-illinois-464673. 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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#1 Consumer Suggestion
Terms and conditions
AUTHOR: Kevin W - (U.S.A.)
SUBMITTED: Wednesday, June 24, 2009
Assuming that you still have the little terms and conditions booklet that was sent when you opened this account, you will see that there is a little caveat in there that states the issuer of the card reserves the right to change the terms and conditions. You do have to be notified of any such change. Chase probally did send out such a notice, however it was probally camoflauged as some thing else. I do know that Capital One has been sending out notices in envelopes that are almost identical to the ones used for the convience checks that they are constantly sending out This caused a lot of people to put these notices in the shredder without even opening them. I would guess that Chase did something similar. All the major card companies are raising rates. Be thankful yours only went up to 12.9, as it seems that most are moving to the range of 15.9 to 17.9. Was what Chase did to you ethical? NO it was not. Was it legal? Very much so!
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