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Report: #475874

Complaint Review: Chase - Wilmington Delaware

  • Submitted:
  • Updated:
  • Reported By: Sandy Utah
  • Chase www.chase.com/creditcards Wilmington, Delaware U.S.A.

Chase Bank screwed over from paying 2% of balance to 5% of balance. Minimum went from $329 per month to $800. Wilmington Delaware

*Consumer Comment: Hate To Tell You But

*Consumer Suggestion: Contact Office of the Comptroller of the Currency

*Consumer Comment: Thank the government

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I recently received notice from Chase that my monthly credit card bill went from 2% of my balance, to 5% of my balance. I have never been late and always pay more than the minimum. My husband is unable to work due to health problems and so this was the last straw.

I am at my wits end. It looks as though those of us who were wise enough to get a low interest rate are now being shafted. My minimum will go from $329 a month to $800. a month, which is impossible for me to pay. I guess that was the whole scheme of things.

Thanks Chase for rewarding your long time customers! When I called chase to see what arrangements could be made, I was told that there is nothing I can do.

Jill
Sandy, Utah
U.S.A.

This report was posted on Ripoff Report on 08/02/2009 09:20 PM and is a permanent record located here: https://www.ripoffreport.com/reports/chase/wilmington-delaware/chase-bank-screwed-over-from-paying-2-of-balance-to-5-of-balance-minimum-went-from-329-475874. 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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#3 Consumer Comment

Hate To Tell You But

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

POSTED: Monday, August 03, 2009
That increase from 2% to 4% went into effect last year based on government mandates. One of the FEW thing you can't blame the current administration for. Under the 2% minimum monthly payment, it might take up to 30 years to pay off a credit card. Under the 4%, it might take 12 to 15 years IF you make the minimum monthly payment and that's IF you didn't charge anything else. Lord, under the 2%, you were barely paying the interest.
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#2 Consumer Suggestion

Contact Office of the Comptroller of the Currency

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

POSTED: Monday, August 03, 2009
It certainly seems the credit card companies can do whatever they want, leaving us no recourse. You may wish to contact the following Agency and inquire if they have jurisdiction concerning your problem. They were able to assist me against Chase Bank in 2005.

Office of the Comptroller of the Currency
Attn: Customer Assistance Group
1301 McKinney Street Ste 3450
Houston, TX 77010
(800) 613-6743

Mo
Yuma, AZ
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#1 Consumer Comment

Thank the government

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

POSTED: Monday, August 03, 2009
It is due to government pressure and the new changes that the obama administration is putting in that is causing credit card companies to do this.

The government was us out of debt faster, so they are pressuring credit card companies to raise minimums.

(((Redacted)))

There is one story. If the government would have just left it alone, we would still have our low minimum payments.

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