Complaint Review: Chase Manhattan Bank, N.A - Wilmington Delaware
Ripoff Report on CBS 19
Ripoff Report on CBS 19 - Global Marketing Alliance
Ripoff Report on ABC 15 - Smart Shopper
Ripoff Report - Girls Gone Wild
Ripoff Report on Fox 11 - Car Repair
- Author Confirmed
- Chase Manhattan Bank, N.A chase.com Wilmington, Delaware U.S.A.
- Phone:
- Web:
- Category: Credit Card Processing (ACH) Companies
Chase Manhattan Bank Ripoff Unfair hike in interest rates to 29.9%. Wilmington Delaware
*Consumer Comment: With a 732 credit score you should have no problem
Show customers why they should trust your business over your competitors...
listed on other sites?
Those sites steal
Ripoff Report's
content.
We can get those
removed for you!
Find out more here.
Ripoff Report
willing to make a
commitment to
customer satisfaction
Click here now..
I have been a customer with Chase Platinum visa for over a year. My interest rate was at 11.9%. I have never been late, always paid more than the minimums each month (including double payments). This past statement, I was shocked to see my interest rate jacked up to 29.9%. When I contacted them, all they said was they pulled my credit report back in April and there was an item which they deemed to be negative. They did not exactly tell me what it was, but I did receive a letter today, which stated that my credit report from Experian, showed a credit balance that was too high on revolving accounts. This was their reason for jacking my interest rate up by 18%.
I talked to several customer service representatives and they said it was impossible to lower my interest rate. I find this hard to believe, because when I originally applied for my card, I had more of a credit balance, and now it's about 7000.00 less than over a year ago! Who gives them the right to treat me like someone who has bad credit and delinquent?
My credit score is 732, which is very good. I have years of well established credit with absolutely no negatives. This is a joke and I don't even have store cards as high as 29.9% !!
I also agree, who gives them right to pull credit reports without your consent? I find this only valid for opening an account.
John
Independence, Kentucky
U.S.A.
This report was posted on Ripoff Report on 07/08/2005 07:44 PM and is a permanent record located here: https://www.ripoffreport.com/reports/chase-manhattan-bank-na/wilmington-delaware-19850/chase-manhattan-bank-ripoff-unfair-hike-in-interest-rates-to-299-wilmington-delaware-149043. 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
If you would like to see more Rip-off Reports on this company/individual, search here:
#1 Consumer Comment
With a 732 credit score you should have no problem
AUTHOR: Angelina - (U.S.A.)
SUBMITTED: Saturday, July 09, 2005
finding a card with a lower rate to do a balance transfer. However, keep in mind that it is not just Chase that does this. According to bankrate.com, about half of all credit cards contain the "universal default" clause (which says the credit card can jack your rate up to the default rate if you are late with ANYONE--even if current with them--or if THEY FEEL you have too much debt). So it is very, very important to read the fine print before opening an account (and also to read any of those updates they like to hide in with your statements).
As far as the pulling of credit reports, inquiries not initiated by you (for loans, etc.) are known as "soft" inquiries and don't affect your credit score. The company that does this just gets a snippet of your credit report to see if you are a likely candidate for thier product/service, and it is perfectly legal. That is why it is more important than ever to watch your balances and not to be late with anyone because it can have unintended consequences.
Shop around for a low rate card, make sure to read the fine print regarding balance transfers, transfer your balance and then just leave the Chase card open at a 0 balance. As tempting as it may be to close the account, doing so will have a negative affect on your scores because you will hurt your balance to available credit ratio by closing that trade line. Don't use the card again, but leave the credit line open.
Advertisers above have met our
strict standards for business conduct.
