Complaint Review: Chase Credit Cards - Internet
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- Author Not Confirmed
- Chase Credit Cards www.chasecreditcards.com Internet United States of America
- Phone: 8004323117
- Web:
- Category: Banks
Chase Credit Cards Guaranteed low interest rate scam Internet
* : Chase is doing you a favor
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This increased minimum payment appeared without notice on my August monthly bill. When I called to complain I was told that notification was sent previously but returned by the post office. Then Chase kindly offered to reduce the minimum back to 2% if I agreed to give up my 3.99% guaranteed rate and accept a 7.99% rate instead.
Very clever. Good customers who have been playing by the rules are apparently being sacrificed to cover Chase for its own failure to adhere to prudent lending practices, at least according to CSRs who explain that this is necessary because theyre losing money. Oh? According to the news Chase had a $2.1 billion profit last quarter, after repaying its $25 billion taxpayer bailout. And they need to pad their profits by extorting extra cash from folks who are struggling to get by. Nice.
I understand that somewhere in the midst of the fine print Chase has given itself the right to unilaterally change the rules in the middle of the game. That may make it legal, but it doesnt make it right. At the very least Chase is guilty of unethical business practices, and in many cases may be forcing its customers into bankruptcy.
I will do my best to make the increased minimum payments and think I can manage although it will be a burden, but I hope someone can help the poor folks who are being driven into default by this despicable behavior.
I've filed a complaint with the FTC and the credit card sponsor, and will be writing to the president, my senators and representative, the Federal Reserve, the BBB, my state Attorney General, the governor and anyone else I can think of.
This report was posted on Ripoff Report on 08/27/2009 08:16 PM and is a permanent record located here: https://www.ripoffreport.com/reports/chase-credit-cards/internet/chase-credit-cards-guaranteed-low-interest-rate-scam-internet-486324. 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
Chase is doing you a favor
AUTHOR: Cj - (U.S.A.)
SUBMITTED: Sunday, September 06, 2009
??? If you pay 5% of your balance v 2%, in the long run you will wind up paying less interest. Why are you complaining about that? You should be paying off as much of your debt as you can as soon as you can, regardless of what the minimum payment is dictating.
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