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Report: #141733

Complaint Review: Chase Manhattan Bank - Wilmington Delaware

  • Submitted:
  • Updated:
  • Reported By: Ellensburg Washington
  • Chase Manhattan Bank www.cardmemberservices.com Wilmington, Delaware U.S.A.
  • Phone: 800-436-7937
  • Web:
  • Category: Banks

Chase Manhattan Bank Predation and Usury ripoff Wilmington Delaware

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Bank One recently merged with (was consumed by) Chase Manhattan Bank. As a former Bank One credit card holder, I am now subject to Chase predation and fraudulent practices. If there are other former Bank One customers who are being discriminated against, I would appreciate a note in my comments box.

I went back in my files and exhumed every iota of paper I've received from Bank One and Chase in the past 16 months. My experience with Bank One started with a 0% introductory APR for 3 months on a balance transfer from another account. I was then transferred to a friendly 3.99% interest rate for the life of the loan, as promised in writing by Bank One. This went on happily for 6 months. Then Chase entered the picture.

The first month Chase took over my accounts, my interest rate soared to 14.77%, with no notification or explanation. The following month, the APR jumped again to 15.99%. I should have started throwing a fit at that time, but with the holiday business season upon me and working 80-100 hours a week, I admit I wasn't on the ball. The pattern continued the next month to 16.24%; then to 16.49%. And this month the coup de grace: a whopping 24.74%. All this on a fixed APR of 3.99%. for the life of the loan and with a 20 year credit history anyone would be proud to claim (nope, NO late payments ever or any defaults).

A rather snotty young man at Chase has informed me that Chase has proof that I received their written notifications because I continued to pay my bills on a regular basis. I informed him that I pay my bills on-line, and he told me with complete assurance that was impossible because Chase has just instituted an on-line bill pay system. Well I was paying through the Bank One online system, not through Chase.

And this is the icing on the cake. I just received in the mail a bunch of promotional checks from Chase with a fixed APR of 4.99% for the life of the loan. The logo printed on the outside of the envelope says Take a Deep Breath. in big, fancy letters. Any woman who's been to her gynecologist (men, read proctologist here) knows what that means.

Susan
Ellensburg, Washington
U.S.A.

This report was posted on Ripoff Report on 05/05/2005 11:17 PM and is a permanent record located here: https://www.ripoffreport.com/reports/chase-manhattan-bank/wilmington-delaware-19850/chase-manhattan-bank-predation-and-usury-ripoff-wilmington-delaware-141733. 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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