Report: #227529

Complaint Review: Chase - Nationwide

  • Submitted:
  • Updated:
  • Reported By: Mount Clemens Michigan
  • Chase Cardmember ServicesPO Box15098 Nationwide U.S.A.

Chase Never Missed a Payment ! Always Paid more than minimum due. My Chase Reward: An APR change to the loanshark rate of 29.24 % Ripoff New York nationwide

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I have been a customer of Chase for a couple of years now. I have never missed a payment. Always paid above my minimum. In September I was sent a change of terms bulletin.

The bulletin indicated that my APR would rise to the whopping rate of 29.24% if I did not send Chase a letter expressing my disagreement to said changes. I sent the letter because to do nothing would mean a rise of nearly 10% to my APR.

I read the bulletin carefully, it stated "If you send us such a letter, these changes will not apply. If your account is open, it will continue to be available for your use." I sent the letter on Sept 27th.

In December my APR was changed to 29.24% Why? I phoned Chase to ask. I was told that now I am considered a credit risk. Why? How did that happen? After much fumblng over the phone I angrily closed my account.

I phoned Chase after located my "change in terms bulletin" today I was told that they never received my letter. That was the reason my APR was changed.

Which lie am I to believe? I followed the rules, made my payments on time, paid above my minimums and yet my reward is a penalty.

Here's what I do believe. I will never be a Chase customer again. Chase is a liar and their own bulletin proves that. That is a truth I will spread as far and as often as I can.

Mount Clemens, Michigan

This report was posted on Ripoff Report on 12/28/2006 09:05 AM and is a permanent record located here: https://www.ripoffreport.com/reports/chase/nationwide/chase-never-missed-a-payment-always-paid-more-than-minimum-due-my-chase-reward-an-apr-227529. 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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