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Report: #201601

Complaint Review: Chase Mastercard - Wilmington Delaware

  • Submitted:
  • Updated:
  • Reported By: Fort Wayne Indiana
  • Chase Mastercard PO Box 15298 Wilmington, Delaware U.S.A.

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I have had a Chase Credit card since 2003, and never have been late. They have bumped up my rate a little every few months, but this month it went from 14% to 30%. Thier reason is because my debt to earnings ratio became to high , even though I am 2000.00 under my credit limit and I have never been late. This started out a 5000.00 limit and they gave me a little more every so often, because I am such a great customer. When I called to opt out, as you can, they said that was fine, but the 324.00 they charged for one month of charges, they refuse to take off.

This is a new policy they have started as of April of this year, at least that is what the cold voice on the other end of the phone told me. Does it really make sense to charge me more at this time, because of my debt to earnings ratio is too high? That will sure help the problem. This will probally cause me to be late for the first time, but i get the feeling they don't mind.

Michelle
Fort Wayne, Indiana
U.S.A.

This report was posted on Ripoff Report on 07/17/2006 09:31 PM and is a permanent record located here: https://www.ripoffreport.com/reports/chase-mastercard/wilmington-delaware-19850-5298/chase-mastercard-unscrupulously-raised-intrest-from-14-to-30-on-account-in-good-standing-201601. 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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#7 Consumer Comment

Banks are fee thieves

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

POSTED: Saturday, August 05, 2006
FOURTEEN PERCENT !!! I get offers every week for NO interest cards (6 to 12 month period) and NO transfer fees for outstanding balances.

The banks will eat your lunch if you allow them.


Why do you think all of that fine print, and continual account changes, mandate arbitration as the only recourse to resolve a legal issue. They want to avoid the dangers of class action remedy.

When is the last time you actually read all of that garbage (4 or 5 pages of micro print) that arrives every few months telling you about Changes in Your Account? --- sent me a load of that foul smelling stuff a few months ago and I dropped them like a rabid skunk.d The mafia has more integrity than most banks. Most of the banks now have clauses that stipulate they can raise your rates if you pass gas at Starbucks.

The only way to beat the banks at their own game is to have a FLAWLESS credit record and allow them to prey on each other with their NO INTEREST offers.....and no balance transfer fees. I have been bouncing a balance around for the past 4 years and will soon have it paid off. Haven't made a single charge during that time and the $100 monthly payment is applied to principle.

Two years ago I got an interest free rewards card (12 month period,no balance transfer fee ) that gave me $100 of rewards credit that I used
to get Shell gas cards. You had to make ONE purchase on the card to qualify for the $100 so I spent $5. 12 months later I had another interest free offer lined up.

CREDIT is a cancer. The only way to beat the bank crooks with this UNSECURED credit is to have 30 or 40,000 outstanding when you croak.......and chances are that will happen when you pay the minimum amount each month, which is frequently 1/40th of the balance due.

sorry, allowing you to give a competitors name would instigate others to just file against their competition, to only come back later to suggest their company your comments on this policy are welcome! CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

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#6 Consumer Comment

If you are above 75% of your credit limit

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

POSTED: Friday, July 28, 2006
you are deemed deserving of the default credit rate because you are likely to default. When you do default with the 30% rate you will have proven them right. Of course, if it is a full moon, you are deemed deserving of the default credit rate if you are above 50% of your credit limit. Then if it is a new moon,......

NEVER carry CC balances! It is a really, really bad practice that will drive yo to the poor house and ruin your retirement. Our CC monthly balance can be 2% to 6.5% of our credit limit and I pay it off EVERY month. You want the banks to be paying YOU interest, not the other way around. Pay off the card ASAP.
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#5 Consumer Suggestion

Blame The GOP Corporate Interest Cronies For Your High Rates

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

POSTED: Friday, July 28, 2006
Brought to you by the same people who will have our grandchildrens grandchildren paying for this oil for blood war, the outsourcing of slave labor to other countries - in turn eliminating the middle class in America, and the huge cuts in college funding + higher interest rates on student loans!!

My solution to this would be:

*Get an online petition going

* Contact your Senators, Attorney General, etc. and let them know that if they want your vote next time around they had better fix this situation!!

China, Japan, etc. have bought most of our banks. They have our cost of living jobs, and soon they might just decide to forclose on all of our houses, and kick us out like we did to the Native Americans. A bank can demand at any time for your payment IN FULL! If you missed a payment five years ago, they can kick you out, and sell the house! Go ahead, ask a lawyer to confirm this.

Thank our crooked government for all of this. It has been going on since Carter lost to Regan. We need a revoulion; the problem is Uncle Sam has nukes, and we have cheap hunting rifles from Walmart. Welcome to 'A New World Order'.
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#4 Consumer Suggestion

Blame The GOP Corporate Interest Cronies For Your High Rates

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

POSTED: Friday, July 28, 2006
Brought to you by the same people who will have our grandchildrens grandchildren paying for this oil for blood war, the outsourcing of slave labor to other countries - in turn eliminating the middle class in America, and the huge cuts in college funding + higher interest rates on student loans!!

My solution to this would be:

*Get an online petition going

* Contact your Senators, Attorney General, etc. and let them know that if they want your vote next time around they had better fix this situation!!

China, Japan, etc. have bought most of our banks. They have our cost of living jobs, and soon they might just decide to forclose on all of our houses, and kick us out like we did to the Native Americans. A bank can demand at any time for your payment IN FULL! If you missed a payment five years ago, they can kick you out, and sell the house! Go ahead, ask a lawyer to confirm this.

Thank our crooked government for all of this. It has been going on since Carter lost to Regan. We need a revoulion; the problem is Uncle Sam has nukes, and we have cheap hunting rifles from Walmart. Welcome to 'A New World Order'.
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#3 Consumer Suggestion

Blame The GOP Corporate Interest Cronies For Your High Rates

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

POSTED: Friday, July 28, 2006
Brought to you by the same people who will have our grandchildrens grandchildren paying for this oil for blood war, the outsourcing of slave labor to other countries - in turn eliminating the middle class in America, and the huge cuts in college funding + higher interest rates on student loans!!

My solution to this would be:

*Get an online petition going

* Contact your Senators, Attorney General, etc. and let them know that if they want your vote next time around they had better fix this situation!!

China, Japan, etc. have bought most of our banks. They have our cost of living jobs, and soon they might just decide to forclose on all of our houses, and kick us out like we did to the Native Americans. A bank can demand at any time for your payment IN FULL! If you missed a payment five years ago, they can kick you out, and sell the house! Go ahead, ask a lawyer to confirm this.

Thank our crooked government for all of this. It has been going on since Carter lost to Regan. We need a revoulion; the problem is Uncle Sam has nukes, and we have cheap hunting rifles from Walmart. Welcome to 'A New World Order'.
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#2 Consumer Comment

MBNA America does this same scam!

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

POSTED: Friday, July 28, 2006
MBNA America, located in Wilmington, DE does this same thing. I had been a customer since 1984, never late once and they did this to me. I responded by paying off my balance and closing my account. I informed them that they are crooks and I no longer want to do business with a company that cheats and steals from thier customers. I still to this day get their marketing offers, and I take the time to write a letter to their top scammer, (they call their Predident), and inform him that the offer that I received is a set-up for his firm to perform fraud. I do not want to play because I have already been screwed by your firm.
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#1 Consumer Comment

Same exact thing just happened to me!!

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

POSTED: Friday, July 28, 2006
Michelle,

The same thing just happened to me. I was checking my statement online and noticed that my monthly payment was much much higher than it usually is. I haven't gone overboard on that card and it still had $2000-$3000 left on it. I always pay double the minimum and have never ever been late on this card (or any other for that matter). I missed talking to the supervisors tonight about taking off this months charge of $234 of finance charges (normally around $50). How can this help those of us that they believe are a risk? What are they trying to get away with?
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