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Report: #178026

Complaint Review: CHASE BANK - PALINTINE Illinois

  • Submitted:
  • Updated:
  • Reported By: SEYMOUR Tennessee
  • CHASE BANK PO BOX 94O14 PALINTINE, Illinois U.S.A.

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I had an old account with AOL visa which I canceled and agreed to pay off the balance at the fixed rate of 9.9 at the time the anounced that if I keep the account open, it would become a variable rate, which I did not want.

Chase aqquired thos accounts about a year ago, which I didnt think to mu about at the time.

When I got my last statement,however I was outraged to find they had raise my % to23.9,

I called them and asked why , and demanded they put it back to 9.9, Iwas told that my account was closed and they had no other rate to offer.

Janice
SEYMOUR, Tennessee
U.S.A.

This report was posted on Ripoff Report on 02/24/2006 11:57 PM and is a permanent record located here: https://www.ripoffreport.com/reports/chase-bank/palintine-illinois-60094-4014/chase-bank-ripoff-chase-jacked-up-fixed-apr-from-99-to-239-no-good-reason-palintine-ill-178026. 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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REBUTTALS & REPLIES:
0Author
4Consumer
0Employee/Owner

#4 Consumer Comment

Fixed APR vs. Variable APR

AUTHOR: Susan - (U.S.A.)

POSTED: Wednesday, March 15, 2006
Dear R-Springfield, MO:

Your advice concerning 'fixed' credit card APR vs. 'variable' credit card APR would be valuable IF it were true. Where Chase is concerned, they routinely advertise 'fixed' APR's for 'the life of the loan' and then jack up the APR at will. My Bank One 'fixed' APR of 5.9% immediately went to 26% when Chase acquired Bank One. I had been a Chase customer in good standing for 20 years, have an excellent credit history and FICO score, and have never defaulted or been late on any payments. I paid off my Chase credit card and cancelled all accounts with them. My advice to anyone currently involved with Chase or anticipating any involvement: their credit card 'agreement' is not worth the paper it is written on. Avoid Chase at all costs. Chase - predatory lending.
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#3 Consumer Comment

I agree with Jim 100%

AUTHOR: Steve - (U.S.A.)

POSTED: Sunday, March 12, 2006
Jim,

Absolutely right.

These arrogant jerks just think they can do whatever they want.

They think they are untouchable, and feel they never have to negotiate with the little guy.

Do like I did. Bend them over!

I told them to fix it or i'll walk. They didn't fix it. I walked. That was 10/2002, and they still have not been paid, and they won't!

Thats how I deal with a take it or leave it attitude. If more people would do this the fat cats could not keep getting fatter.
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#2 UPDATE Employee

Difference between variable/fixed rate

AUTHOR: R - (U.S.A.)

POSTED: Sunday, March 12, 2006
The difference between a variable rate and a fixed rate is that a variable rate will vary with prime, (the federal rate), and a fixed rate won't.

More than likely what happened was you had either a late payment or a returned payment. That would change your APR on a closed account.
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#1 Consumer Suggestion

Stop paying them

AUTHOR: Jim - (U.S.A.)

POSTED: Saturday, February 25, 2006
They changed the terms, that makes the whole loan invalid.

Stop paying them until they return all overcharges and return your account to it's original interest.

If they refuse, they;ve cut their own throat.
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