Chase CardmemberChase Cardmember Services RENIGED ON 2.99 RATE FOR THE LIFE OF THE LOAN Wilmington Delaware

I have been a loyal and worthy customer of Chase Bank and have always paid my balances off in total whenever I would run up a bill. I have a credit line of $21,200.00. As you can tell from that credit line, Chase Bank thinks I am a loyal and worthy customer too.

I start my story off by saying three years ago or more Chase offers me a 2.99% for the life of the loan with a fee of course. I had just put a new roof on my house and resurfaced my inground pool. As you can imagine I owed some money out.

At the same time Capital One offers me the same rate 2.99% for the life of the loan. (I hope they remain loyal to me and don't get greedy) But, anyway, I put $6,000.00 on both. (Chase and Capital One). Mind you I started paying $200.00 a month to both credit cards each month and they were only asking for $60 or so, and my finance cost was about $10.00 to $12.00 for each card. (Long time ago)

As times got a little tough with the economy I reduced it to $100.00 a month payment and that is when the finance cost was averaging about $7 to $4 a month and they are requesting $35 as a minimum payment. My balance on both cards to help you understand is $1400.00 (Est on Capital) and $1458.43 (Exact Amount).

Just this month January 2009 my bill comes in and there is a $10.00 Service Charge for Finance Charge. Now, say that again to yourself slowly. A $10.00 Service Charge for Finance Charge. Yep, they're charging me $10.00 a month on having that 2.99% finance rate or I can move it to the 7.99%. The customer service lady said they will charge it every month unless I move it to the 7.99%.

I read somebody else is having the same problem and they said after a time the rate will go up to the average APR which mine is 11.01 right now on my statement 1/09. I was just outraged when I spoke with the customer service lady and she apologized over and over again. Why is she apologizing? Is that what Chase is telling them to do?

I kept saying, "This is what you do to good customers. I just can't believe you would promise 2.99% for the life of the loan, LIFE OF THE LOAN. I would have never agreed and borrowed money if I knew this was going to happen down the line." And I said, "Fine, I'm going to pay it off and you lost a good customer." Chase to me is a Greedy Company who only cares about itself.

So don't use Chase Bank for anything. If anything, I think the consumers who are loyal and pay their bills on time should not be penalized by all the people who file bankrupcy or just never pay their bills, and I understand how it could happen when someone just can't pay a bill, but eventually they should because they ran that bill up and enjoyed all the benefits from it.

Angry consumer
Somedale, New Jersey
U.S.A.