Chase Credit Card Company Opted out of Interest Rate increase Chase STILL charged it anyway Louisville Kentucky

My insert says something completly different as well as all the correspondence that I received from Chase. I made sure to do everything via their website so that I would have documentation.

This is the way it was explained to me. My charge account would be closed to any further activity. I have not used it in months anyway. Trying to pay it off. All the papers that I have state that while my account would be closed for use I could still continue to pay with my current conditions.

Here is a snipet of one of the emails.

As your credit card company, it has been a pleasure to
serve your credit needs. We are writing in response to
your request regarding the recent change in terms notice
that you received.

Please accept this letter as confirmation that your
account will not reflect those change(s) that you could
choose not to accept. Your account will remain subject to
your current terms, including, if applicable, penalty
Annual Percentage Rates (APRs) and fees. Please refer to
your Cardmember Agreement and subsequent change in terms
notices, which may amend your Cardmember Agreement from
time to time, for details of your current account terms.

You should continue to make at least the minimum payment
due or pay any amount up to your full account balance.
Please make sure that we receive your payments by the date
and time that they are due.


So I did not accept the change and they did it anyway. Lovely people. There is no one to turn to either. Who is going to take on a CC company. The only thing I can do is warn others to NOT do business with them.

Nikki,

When a person opts out of an announced interest rate hike, there is no requirement to pay off the balance.

You simply have to opt out in writing which closes the account. The unpaid balance can be paid off at the same rate/terms it was before, as the old rate is maintained. As long as you pay at least the minimum due, and you have no late payments, you will be ok.

However, even 1 late payment changes everything.

I have done this numerous times. No problems.

And, this is exactly the way it is explained in the disclosure that comes along with the opt out notice.

You could opt out by paying off the balance and closing the account. If you chose to opt out without paying off the balance, your account would be closed to any new purchases made after the change went into effect, but any money you still owed would be subject to the higher interest rate.

That is the way it was explained on my mom's notice.

By the way, my mom opted out by paying off the balance and requested to close the account. However, she was then notified that they wanted to keep her as a customer and they would not raise her rate. She decided to keep the account open.

opted out, then used the card, you opted back in thus explaining the increase. That's all I have for a guess. I know some people do that. Not saying you did.