Chase Credit Cards Reviews
4,880,395reviews on ConsumerAffairs are verified
- We require contact information to ensure our reviewers are real.
- Our moderators read all reviews to verify quality and helpfulness.
- We use intelligent software that helps us maintain the integrity of reviews.
About Chase Credit Cards
This profile has not been claimed by the company. See reviews below to learn more or submit your own review.
Chase (NMLS #399798), the U.S. consumer and commercial banking business of JPMorgan Chase & Co., offers home purchase and refinancing loans, in addition to its other financial services. The company provides home loans in every state and Washington, D.C., and its services are available online, through its mobile app, by phone and in person at more than 5,000 branches.
Chase Credit Cards Reviews
Filter by Rating
- (86)
- (14)
- (21)
- (51)
- (986)
Popular Mentions
How do I know I can trust these reviews about Chase?
- 4,880,395 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
Recent
- Recent
- Oldest
- Most helpful
A link has directed you to this review. Its location on this page may change next time you visit.
How do I know I can trust these reviews about Chase?
- 4,880,395 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
Page 26
Reviews 4640 - 4840
CathyVa Beach, VA
Reviewed Jan. 30, 2009
Like many other postings, I was notified of $10 service charge to be tacked on beginning in January. I decided to pay off my balance of roughly $1900 by the Jan. due date. Well, guess what? I still get billed the $10. This was after calling customer service last month and discussing the fact if I paid off in the January payment cycle, I would be fine. Now, customer service tells me you get charged this fee even if you have no balance, just simply for having the account open! On the statement it states Finance Charge/Service Charge How can you have a finance charge when you have no balance? Then it was stated this was like an annual fee divided in 12 payments for $120. Well, which is it, annual fee, finance charge or service charge? How can it be all 3 and how do they get away with this? I was told the only way to get rid of the fee is to close the account, which of course I can't do until I pay the $10.
Thanks for your vote!
JuliaSouthfield, MI
Reviewed Jan. 30, 2009
Just received this month's statement. I have a 3.99 interest rate for life of loan. They are now tacking on a $10.00 Service fee (monthly) for staying with previosuly agreed rate. Additionally, the minimum due is 5% of balance, monthly. I resent this additional fee which in essence changes the previously agreed lifetime interest rate. I have never been late. Payments are automatically withdrawn on due date from checking account. I feel this is a break in agreement and
Thanks for your vote!
AshleyLake Charles, LA
Reviewed Jan. 30, 2009
I have been trying to get my account straight with them since 9/08 ,I have been to all of them in Lake Charles and either no one knows anything or they all say something different, I got no where.I have paid in a 12 month period over 1,600 in fees alone.They have called me and said if I did not make an deposit to my account to get it to an 0 balance they kept saying they where going to close my account ,every time my direct deposit paycheck or any deposits where made they took fees out I have letter showing where they charged me for taking what ever was left of my paycheck, it was to the point that I went elsewhere for a checking account and changed my direct deposit as well.It is 1/09 and I just got through paying 680.70 to get me at a 0 balance and still they told me I can not close my account for two more days keep in mind I have tried to close it many times before.For the last two weeks there 1-800 number has been calling me and telling me to make an deposit as soon as I could or THEY where going to close my account and report me to who ever where "I would not be able an account any where"so they said.This is not even bringing up the fact that one of the branch gave a third party who walked in, my account information for three days. I called and made a complaint and to best of my knowledge they where going to address the worker that gave out my information but what really happen I guess I will never know since I have not heard any thing on that issue either.I have ask them to freeze my account or to stop payment on items and was told they could not do that either.Evert time you ask one question you get several different answers.I need help they know that people do not know who they can do and what they can not do so they do what they want knowing that people like me can not really do anything about it or do not have the resources to take action .
Thanks for your vote!
LennyQuincy, MA
Reviewed Jan. 30, 2009
Let me add my name to the list of people getting ripped off by Chase. I also sat down on Tuesday January 27th to pay my bill and almost had a heart attack when I noticed what my February monthly payment needed to be. I was going from $384.00 per month to $842.00 per month. That is a HUGE increase. I called Chase and they informed me of the same information that everyone else got: My minimum payment is going from 2% to 5% and they are charging me $10.00 per month to service the account. I have NEVER been late with a payment on this account. Chase offered me 3.99% for the life of this balance transfer and as a matter of fact they also increased my overall limit from 17,200.00 to 27,500.00 enabling me to balance transfer $27,191.27. I have been paying it off every month sometimes more than the minimum amount and I have managed to get it down to $16,000.00.
My other option was the same as everyone elses: Accept 7.99% until January of 2011 and then pay the going interest rate.
This isnt right! WE NEED TO DO SOMETHING ABOUT THIS!!!!!!!!!!!
What is to stop them from saying in another 4-6 months that they want to raise the minimum amount to 15% AND CHANGE THE SERVICE FEE TO $50.00 PER MONTH??????????? Sounds ridiculous, but you never know look what just happened!
Thanks for your vote!
AliSebastopol, CA
Reviewed Jan. 30, 2009
HELP!!! Like many of the complaints that I read I also have two credit cards with chase that I was guaranteed life rates of 3.99 and 4.99. I owe $18,000.00 They are taking my 4.99 to 12% and the 3.99 they will be charging a $10 monthly fee and want 5% instead of the agreed 3%. I was also clearly told this would be for the life of the debt if I kept my payments in good standing. I set both of them up with auto pay and have NEVER been late or missed a payment. I can't believe they are doing this especially since the payments will go from $167 to $418 and the other from $207 to over $500 per month. They also cut the limit of one of the cards to a lower amount. I don't care about that because I cut the cards and have not been using them at all. NO NEW CHARGES.
Thanks for your vote!
AaronFort Wayne, IN
Reviewed Jan. 29, 2009
It appears that the list is long, but unfortunately the experience is the same for us. They promised that it would never go up for any reason accept for possibly late payments. Watch them and other credit card companies. More than once over the past couple of years I have recieved the bill AFTER it was due. Since they do bulk mailing there is no postage date stamped.
Thanks for your vote!
KathyHills, IA
Reviewed Jan. 29, 2009
When I went to pay my account on line I noticed my payment had gone from 364.00 a month to 876.00 per month on one of my cards I never missed a payment and I always payed extra. I have one at 3.99% and one at 5.99% intrest with a balance. I have been paying on this for 3 year on the first one and transfered more at the 5.99 rate in Aug. I was paying 800.00 a month because I could and just incase we ran into trouble then i wouldn't have a high balance and could make a lower payment. Now they raised my payment to 876.00 per month plus ten dollar a month for the card. We have another card with them that my daughter has a car payment on. The payment on it is 483.00 but if they raise hers it will be over 1200.00 per month and there is no way she could pay that. If we have to take over her payments that would make our payment over 2000.00 dollars per month. Right now we pay 1200.00 per month.
Thanks for your vote!
PercyHouma, LA
Reviewed Jan. 29, 2009
I paid off my Circuit City card (Chase) in aprill last year. Now they are telling me I owe them almost $300.00 in late fee for $2.50 in acrud interest that I did not pay when I close my account. They are lying. First of all they never sent me a statement to tell me I owe them until they had already charge me. I need some help
Thanks for your vote!
RebeccaThomaston, CT
Reviewed Jan. 29, 2009
In 2004 I became a Chase credit card customer when they offered me 2.99% fixed apr for the life of the loan. This month, they have included a $10.00 monthly service charge and their reason was, "due to the economic situation, we are applying this charge to ensure a reasonable turn around rate." Never in my 5 years as a cardholder was I late or over the limit. My husband has been laid off since November as a heavy equipment operator and we have two small children. No matter how hard our financial situation has become, we always sacrifice to pay our bills on time, and we never buy anything beyond our means. I am outraged that my diligence in sending in a timely payment for the past five years is not even appreciated by my credit card company. I want my voice to be heard. I am angry and sick to my stomach that my good credit history means nothing anymore. It is not my fault that the credit card companies are in this pathetic situation, and I am unjustly penalized for being a member in good standing. I want to fight this charge and I need your help. Please respond as soon as possible. Thank you.
Thanks for your vote!
MarkBuffalo Grove, IL
Reviewed Jan. 29, 2009
Just like all the other recent posts about Chase Card Services I took advantage of their offers a few years ago of fixed rate balance transfer for the life of the balance loans. Just like everybody elses complaint they sent an insert via email with my november statements ntoifying me of their intent to add a $10.00 a month finance fee surcharge per account( I have 2) plus they are increasing my minimum payment from 2% to 5%. Ihave pursued fighting this outrageous behavior all the way up to JP Morgan Chases executive suite in New York. All with no luck. I have e mail President Obama's Public liason team about this disgusting form of extortion and racketeering. I have contacted the Comptroller of the Currency Chase's regulator. It was there that i found out that fixed rate doesnot mean fixed rate. I believe if there isn't a class action lawsuit what about a RICO lawsuit due to the bait a switch tactics they are using and the fact that they have used the US postal service and the internet to effectuate this scam. I would like a lawyer to answer the following question: When I agreed to take these balance transfers I asked specificly if the advertised balance was fixed until it was paid off and if the minimum payment percentage would change as long as I was never late? the answer to both questions was yes. I am not an attorney but as a financial professional when one adds additional charges and calls it a finance charge is not that a change in my interest rate? please count me in on any class action lawsuit. my minimum payments in total went from $535.00 to $1339.00 for this month.
Thanks for your vote!
MicheleStayton, OR
Reviewed Jan. 29, 2009
In times of economic hardship, Chase bank has raised their required payments from 2% to 5% with an added $10.00 a month service charge. This has over doubled many families' payments in very difficult times. Plus there is a very deceptive bait and switch tactic they are using. These are people who never made a late payment, have excellent credit, and have been customers in some cases for 20 plus years. To make matters worse their customer service is just malicious. When my aunt, who was terminally ill with brain and lung cancer, called to see if she could have her payments and/or interest reduced since she could no longer work, the service rep. asked her if she received food stamps at which my aunt replied yes, she was on assistance for the first time in her life for her condition. The rep. then said, "Well I suggest you take those food stamps, buy stuff to make cookies, and then sell the cookies to make your Chase bill." My aunt asked to be transferred to her supervisor at which time the rep hung up. The debacles continue with this company when my husband and I tried to pay off the balance of a credit card after the sale of our first house. We are both teachers and accumulated this debt in college, both being first generational college students we had no outside financial help and relied on the credit card, but things got bad when Chase ran credit checks and raised our interest rate, not because of our relationship with them, but because we were a "credit risk" since with our student loans and house payment our debt to credit ratio was not ideal. They raise the interest to 29.99% just below the legal limit. So needless to say, we were excited when we had the opportunity to pay them off and close the account. We called chase and asked for a payoff quote, we paid by phone. We did this with two other credit cards, they gave us a payoff, we paid, we closed the account, end of business. Oh but not with Chase. They said the account was closed and we went on with life. Three months later we ran a credit check to purchase a new house, to our horror Chase had added an imaginary $17.00 service fee after the account was paid off and confirmed closed. The fee accrued late payments and interest and was up to $288.00 in three months. We called to fight the fee, they said we understand just pay the original $17.00 and some additional payment fees totaling $58.00 and we will fix the credit score. This was holding us up from purchasing our new home, so we agreed. My husband called two days later to make sure the account was for sure closed and there was another $4.00 finance charge fee on the account. So again my husband called begging just to end this thing, give what the pay off quote was with all fees and interest so we could move on with our lives. They promised it was $4.00, he paid over the phone. We have received two notices in the mail confirming the close of the account and a zero balance. Two days ago, I open the mail and Chase is charging us a $1.00 finance charge fee (a nightmare I can't wake up out of). I also notice there is an interest charge of 40.43% on the statement (illegal). I call and the supervisor says it is not $1.00 but 12 cents but they can not charge less than a dollar, so the interest equal 40.43% but it is not that interest rate they just have to charge at least a dollar. After became combative and threatened a law suit, he said he was removing the charge right at the moment. So my husband calls the next day and guess what? It is still there gathering interest. We have talked to 5 people about this, everyone says they are taking care of it and yet it is never resolved. I still don’t know if the issue is resolved. I am waiting for another statement fearfully. In the meantime, we are stuck and unable to progress in buying a home, we have spent countless hours trying to clear up this mess on our credit, including taking a day off of work, and we have spent the equivalent of two tanks of gas or a week of groceries in imaginary fees. If their practice is not illegal, it is certainly unethical. I urge you to look at the complaint section of Consumer Affairs, there are several complaints placed everyday. This is people's livelihoods we are talking about. A bank that received money from our tax dollars to stay afloat should be more kind to its customers. They have bit the hand that feeds them and I am biting back. Several people are urging for a class action lawsuit, I know more would join but we need to get the word out about these "fat cats" and their deplorable practices. I teach my students that they have a right to be heard and that it is our responsibility as citizens to challenge unfair treatment. Something must be done so they can not prey off us further.
Thanks for your vote!
MarysueArlington Hts, IL
Reviewed Jan. 29, 2009
My daughter is studying out of the country until May 2009, prior to her departure she contacted Chase to notify them. Her Chase credit card is being denied, when she tries to call the number on the back of the card for calls out of the country it is in Italian and she cannot understand it. I have called Chase numerous times to resolve this and they just don't care. They informed me today that they can not call her number in Italy because it is not on file her home phone is the number they need to call (BUT SHE IS NOT AT HOME!) A customer service rep called last night and said she would call my daughter in Italy and she has not and after talking to customer service today they do not plan on calling her.
Thanks for your vote!
ZaidaNewark, NJ
Reviewed Jan. 29, 2009
I have been disputing a finance charge which chase has decided to add to my bill on a I had in which the balance was $1.09. The finance charge is $1.00 of which I paid that month (Jan. 2009) After that bill, I received another bill for the same finance charge of $1.00, when I called to question this charge the customer serv. rep. who says his name is Robert, would not remove this charge telling me that this is a finance charge on purchases I made on new billing cycle. I have always paid my bills in full and for the last two months which are December and January they have been billing me a $1.00 finance charge just because the feel they can. I would like to get help on this issue. Also when I spoke to the custmer serv. rep. I asked to speak to a supervisor because this is not legal for them to charge finance charge if I pay my bills in full and on time, the customer serv. Rep. disconnected my call.
Thanks for your vote!
KathleenIndianapolis, IN
Reviewed Jan. 29, 2009
I downloaded my January 2008 statement from JP Morgan Chase to find a minimum payment of $570 which had once been $240, and an additional $10 service charge. I immediately called Chase customer service, and the rep said they mailed out a letter in December about raising the minimum payment from 2% to 5%. I did not get said letter. I was offered to raise my 3.99% for the life of the balance rate to 7.99%, and Chase would then lower my minimum payment back to 2% and remove the $10 service charge. I have never had a late payment with Chase nor any other of my creditors -- ever! --, and have always been in complete compliance with Chase's terms and our agreement when I accepted the 3.99% for the life of the balance offer. I hope something comes of all the complaints I am reading here. Chase is clearly not taking care of it's paying customers.
Thanks for your vote!
TommyWest Hollywood, CA
Reviewed Jan. 29, 2009
I too was a victim of the 3.9 percent Chase bate and switch. Fortunately i was at the tale end of my balance. But after probing they still was going to be charged the 10 dollar service fee. EVEN IF I PAYED OFF THE REMAINING BALANCE.
I almost closed the card but the representative said that this likely would end up in lowering my credit score as "his own advice". I think this fullfills at least part of the burden of EXTORSION.
I opted for the 7.9 percent. But i have a 0 balance now.
Beyond contacting your elected official. Tell everyone that JP MORGAN doesnt live up to contracts.
Put it in your Myspace, blogs and facebook. DONT USE CHASE. If you mad enough buy a URL with Chase in it and put a small description in the
JP Morgan is more economically sound than the other banks nowadays. That can change real quick if people pull there money out and dont do buisness with them.
Thanks for your vote!
MarianNorth Brunswick, NJ
Reviewed Jan. 29, 2009
Much the same as everyone else who has written in this blog, I recently noticed that Chase has added a $10.00 monthly finance fee (which cannot be paid off monthly). This fee is added to the balance in the form a finance charge on a purchase while no purchase exists. This,in and of itself, should be illegal. Then.....I was told that my minimum payment would increase from 2% to 5% of my balance.
Well, everyone here agrees that there needs to be a class action suit against Chase. Yes, I agree as well. However, this will take years. Chase is certainly guilty of fraud......but, much worse than that, I believe that they are guilty of treason. Chase and companies like Chase are the reason that this country is going down the tubes. The corporate greed is unbelievable. Is it possible that Chase is being run by a bunch of financial terrorists?
Let's face it, by its actions, Chase will be ruining the lives of many, many people. Some will be forced to take food out of the mouths of their children in order to pay the minimum balance which has more than doubled, others will be forced into bankruptcy, while others will probably have to dip into their retirement accounts in order to make these monthly payments.
At a time when our government is trying to find ways to improve our economy and to help homeowners stay in their homes, I can't believe that it would allow Chase to perpetrate such a horrific fraud on its customers. Unfortunately, by the time our government acts to do anything about this, the damage will already have been done.
I know that the high-powered, high-earning executives and managers at Chase feel that they will not be injured by this, but I am sure that they couldn't be more wrong. As poverty and bankruptcy and homelessness increase in this once great country of ours, so will the crime as people become desperate. These executives will not be able to insulate themselves from the world that they are creating.
In the short term, however, they will simply be damaging their own company as those who have the means will probably pay off these credit cards and Chase will lose the interest income that it had coming from those customers on a regular basis...... and those who were struggling and hovering near the brink of bankrutcy will certainly be pushed over the edge by these new terms.
Thanks for your vote!
TammyAstoria, NY
Reviewed Jan. 29, 2009
In the beginning of 2006 I made a balance transfer that was 3.99% for the life of the balance. I have always paid on time and most months paid more than the minimum. Now Chase starting in Jan 2009 wants to raise the minimum from 2% to 5% and add a new Account Service Charge of $10 per month. I have kept my side of the agreement. What about Chase?
Thanks for your vote!
GailGermantown, OH
Reviewed Jan. 29, 2009
I received a call from Chase credit card saying I was late. I have never been late and have had this card for years. I looked at my bills and did not receive a bill. They said that I signed up for paperless bill. I did not sign up for computer bill as I do nothing with bills etc. on the computer. I paid on phone for the late payment and then found out they raised my rate from 7.99 to 27+!!! This is fraud, stay away from Chase.
Thanks for your vote!
LiborioHolmes, NY
Reviewed Jan. 29, 2009
being screwed by chase,4.9% till paid in full yeh ok my friend,friends like that who needs enemies,same story as the rest, except most of my balance transfers were made with bank one before chase took over and there was no monthly fees and no mention of my minimum payment going up,i have balance transfer checks from chase that i never used, i read the front and the back and even the envelope, no mention of my minimum payment going up or fees. my minimum was 180.00 a month i paid more then that to pay it off quick, my minimum now is 516.00 a month. if their is a class action suit count me in
Thanks for your vote!
RosalieVancouver, WA
Reviewed Jan. 28, 2009
I have two chase accounts, one with a 2.99 APR and one with a 3.99 APR for the life of the balance. I have been paying on these balances for years and have never been late. Today I looked at my balances and noticed that my payments had more than doubled and a service charge of $10.00 was listed as a purchase. Since I knew that no purchase had been made on either account I called and talked to a credit counselor called Betsy. She informed me that they were imposing the service charge because although I had been notified of the changes in November, I had not close my accounts in time. When I ask to close the accounts in order to avoid the service charges, she told me that I could close the accounts but that the service charges and the increased payments would stand. I could opt out by giving them permission to increase my APR to 7.99%. I also ask why they did not send out an official letter or notify customers on their website and she said they had done everything legally and right. She also informed me that I had only this billing cycle to make up my mind if I wanted the opt out of increasing my APR to 7.99.
Thanks for your vote!
PattiSt. Pete, FL
Reviewed Jan. 28, 2009
I found out CHASE had raised my minimum pymt due from 2% to 5% when I went to pay my Jan 09 bill. At first I was scared to death that I had forgot to make my payment last month, NOPE. IT was CHASE.
I continually make my payments on time, a bit more than the minimum and have a great credit score.
I was told by CHASE that they notified us on January 6, 09.
Thanks for your vote!
NancyFort Worth, TX
Reviewed Jan. 28, 2009
When I opened my Chase credit card bill yesterday, I was astounded to discover that my highest-balance credit card had a new minimum payment and new service charges. The account has a fixed interest rate of 3.99% and 4.99%, and I have never been late with a payment. I also have always paid something more than the minimum due. I have had this credit card since 1992. The reward? My minimum payment jumped from $330 a month to $787 a month, and I am being charged a $10 a month service fee to maintain the privilege of paying 5% per month. I always read the inserts that come with credit cards pretty carefully and NEVER saw a notice that this was about to happen. I have two other Chase credit cards with somewhat lower balances, and if they also reset at these higher minimum payments, I will soon be making monthly payments to Chase of $1668 for the three cards. It's pretty clear that Chase is trying to force consumers into default, so they can reset their accounts at 27% interest. When I called the company about the new minimum payment, I was offered a chance to refinance the balance at 7.99% interest until 2011, with a 2% minimum payment. I didn't cause the banking crisis, and as a taxpayer I am helping to bail Chase out. But clearly I will not be doing ANY consumer spending for quite some time, and once I have cashed in all my savings to keep up with these astronomical repayments, I will have nothing left for retirement except the 401K that these financial geniuses have also screwed up. What worries me most is that if I can keep the cards in good standing with a 5% minimum payment, is there anything to prevent Chase from raising the minimum payment to 7% or 10% or whatever else they want to charge? And which Congress do we have to thank for their ability to do whatever they please?
Thanks for your vote!
NikolaiTulare, CA
Reviewed Jan. 28, 2009
My husband and I have 2 credit cards with Chase and were hit with the $10 monthly fee and minimum payment increase n both accounts. We were forced to change to a higher promotional rate of 7.99% until Jan 2011, so that we can still afford to keep making our payments on time every month as we have no way to pay off the balances at this time. How canthey get way ih this breech of contract?! We have filed complaints with the FTC, and intend to contact our Attorney General. There is also an law office in NY currently gathering information on this bad business practice. Their website is gslawny.com.
Thanks for your vote!
RochelleElkhorn, WI
Reviewed Jan. 28, 2009
I have always made my payments on time and always for a little more then the minum payment never late and nowhere near over my credit limit....with promo rates for the life of the balance. 3.99 and 4.99% I was paying 2% of the balance every month. Now I get my statement on the card that I have the balance on and they want 5% of the balance minimum payment AND they have added a $10 service charge! I cannot afford to go from $160 a month to $400 a month! I of course called and the only way to get my payment back to 2% is to go to 7.99% interest until 2011 and then who knows what after that! Have they lost their minds how can anyone keep up with this. They are going to drive everyone into Bankruptcy.
Thanks for your vote!
DeborahBuffalo, NY
Reviewed Jan. 28, 2009
Same as everyone else. I do believe Chase wants to burden us to the point of us not paying then they will get a bigger piece of the pie when it comes to bailouts. Someone should be able to help us file a class action suit!
Thanks for your vote!
MarianneFullerton, CA
Reviewed Jan. 28, 2009
We have been great Chase customers for over 10 years.
Always paid on time, maintained a balance.
Minimum payment now up from 2% to 5%.
Payment went from $229.00 to $562.00.
New Transaction Fee of $10.00 - For nothing.
Try to get you to change from your fixed rate 7.99% for 2 years and up to 22% after!?
I am lucky that I can afford to pay their game until I transfer the balance - but I feel sorry for all of those who cannot.
Chase is taking over WaMu - our bank - well I mean our former bank - after this happened we have put all our accounts with Chase.
Chase - I hope everyone that you have done this to can find a new company that will be a loyal business partner.
Wells Fargo - so far - has been wonderful to us.
Chase - you will be Chasing for customers after this stupid business decision.
Thanks for your vote!
ElenaFoster City, CA
Reviewed Jan. 28, 2009
I've been Chase customer for many years. i always pay my monthly payments on time. Couple of months ago I send them additional 1000.00 dollars to pay it down.
In november Chase claims I was 1 day late on my payment to them. ONE DAY.They charged me a late fee.I couldn't understand how it happened since I always pay on time. More over, the next representative I spoke with told me that I didn't make the monthly payment for November at all! It proves right there that they lied to me. Now this month,since we were one day late.They are charging me a default rate of interest of 27.99%.My rate was 4.25% now its 27.99% for one day.
Thanks for your vote!
AlisonBaltimore, MD
Reviewed Jan. 28, 2009
Here I am again with another complaint about Chase. In addition to raising the minimum payment, here is something even worse. They are charging an additional $10/month and calling it a finance charge after we agreed upon the rate I would pay when transferring balances. I called customer service and was told, you know the banks are in trouble.... This is ridiculous and unethical. If I don't keep my agreement to pay them back, my credit is damaged. What happens when they don't keep their commitments to the consumers regarding finance charges, etc?
Thanks for your vote!
AlisonBaltimore, MD
Reviewed Jan. 28, 2009
The minimum monthly payment went from 2% to 5% of the balance owed. I called customer service department and was advised notification was sent in 10/2008. I didn't receive this notification and would expect this information to come in a more professional and respectful manor - via certified mail. I received my statement two weeks before the payment was due. Needless to say, I had to redo my budget. I know credit card companies can do whatever they want, but this is really, really poor customer service.
Thanks for your vote!
MichelleLos Angeles, CA
Reviewed Jan. 28, 2009
I was one day late on my Chase credit card payment and they raise my interest rate from 8.99% to 17.99%.
Thanks for your vote!
StacieGoshen, IN
Reviewed Jan. 28, 2009
Like many others, I have credit cards with Chase where the interest was supposed to be for the life of the loan. I received my bill today and the minimum payment more than doubled from last month and a $10.00 service charge was added to my monthly bill. When I called to ask why, the Chase customer service rep informed me the terms of the contract had changed due to the current financial crisis and the intent is to help customers pay off their card early. If I want to keep my promotional rate, I will have to pay a higher percentage of my minimum balance as well as a $10.00 monthly fee. These actions by Chase should be illegal. I think we all should write to our senators and congressman, asking them to revisit and change the terms on the bailout money that I, the taxpayer, recently loaned to JP Morgan Chase. We need to ask them to prohibit Chase from making any such changes to the accounts of their clients. I figure that if they can change the terms on the money we borrowed from them, we can change the terms on the money we loaned to them. I encourage every one affected by Chase's recent action to likewise write their representatives in Washington, and their state's attorney general. If a class action suit is filed, I want in.
Thanks for your vote!
JinaOwatonna, MN
Reviewed Jan. 28, 2009
I have been a card holder of WAMU for several years. With a good history paying my card. Minimum balance, if not more on time every month. I do not use the card, right now im trying to pay it off. For the last several months my balance has been 190. its all i can do to make those payments, but i do. i opened my new bill today from Chase. 280! of course i called. im sorry mam nothing we can do. Thanks have a nice day.I asked to speak to a supervisor. i waited and waited on hold. finally i hung up. I asked why they cant a one finance charge for the entire balance. Said it doesnt work that way. So i have a 35.23 percent finance charge on a card ive been in good standing w and havent used in at least 3 months.
Thanks for your vote!
SteveValley View, TX
Reviewed Jan. 28, 2009
Along with many other contributors on your web site, I took Chase up on their reduced interest rate offers of 2.99% and 3.99%. The disclosures I kept say Fixed APR, until the balance is paid in full.
In Texas, we have a law called the Texas Deceptive Trade Practices Act. I believe it prohibits this bait and switch behavior on the part of Chase. Fortunately, it doesn't allow a consumer or business to waive their rights under this law. An attorney I spoke to said Texas Judges would be unlikely to honor the binding arbitration that Chase tried to impose on their cardholders without our agreement. I'm also hoping we can find an attorney willing to pursue these predatory practices under a class action.
Thanks for your vote!
SteveValley View, TX
Reviewed Jan. 28, 2009
Along with many other contributors on your web site, I took Chase up on their reduced interest rate offers of 2.99% and 3.99%. The disclosures I kept say Fixed APR, until the balance is paid in full.
In Texas, we have a law called the Texas Deceptive Trade Practices Act. I believe it prohibits this bait and switch behavior on the part of Chase. Fortunately, it doesn't allow a consumer or business to waive their rights under this law. An attorney I spoke to said Texas Judges would be unlikely to honor the binding arbitration that Chase tried to impose on their cardholders without our agreement. I'm also hoping we can find an attorney willing to pursue these predatory practices under a class action.
Thanks for your vote!
MarilynWarrenton, GA
Reviewed Jan. 28, 2009
WITH NO WARNING PAYMENT INCREASED FROM 2% TO 5%. wE HAVE ALWAY PAID MORE THAN DUE. ALSO THERE WILL BE A $10.00 TRANSACTION FEE PER MONTH. REASON GIVEN DUE TO ECONNIC TIMES. i THINK ITS A WAY TO CHEAT CUSTOMERS
Thanks for your vote!
JoannetteLivermore, CA
Reviewed Jan. 28, 2009
For the past year an a half we have been getting credit card applications for myself, my husband & my 6 year old son. I have called the credit card company 5 times to opt out and told them that I specially did not want them to send my 6 year old son this application. I spoke to costumer service reps and their supervisors who promised that this will not happen again but I could still get mail for 90 days. 90 days past and I continue receiving credit card applications for all 3 of us, specially concerning to me is my 6 year old.
Thanks for your vote!
MarilynWarrenton, GA
Reviewed Jan. 28, 2009
IN ORDER TO GET OUR DEBT DOWN WE DID NOT USE 2 OF OUR CHASE CREDIT CARDS. oNE (HUSBAND'S NAME) NOT USED IN 3 YEARS. NO WARNING THE CARD WAS CANCELLED. mY CARD WASN'T RENEWED WITHOUT WARNING.
Thanks for your vote!
ScottMoseley, VA
Reviewed Jan. 28, 2009
This is in regards to the Chase credit card I have ( 2 of ) I went online on Jan. 26 to make my monthly payment and immediately noticed my minimum payment was more than 2x what it had been for the last several years. Knowing I had not missed a payment I scrolled down the statement to find an additional $10.00 service charge tacked on, in addition to the increased minimum. I immediately picked up the phone and called the customer service line. I was informed that in November all Chase customers were sent a letter informing them of the increase in the minimum payments.
I never recieved this statement nor did my parents who also have Chase cards.
I was then informed that this was due to people taking advantage of the low interest until payed off promotion, and the customers were dragging out the payments. At this point I became a bit enraged as CHASE offerd this deal to it's customers, I, and others, took use of it and are now being punished for it. I have NEVER missed a payment, I was NOT sent a letter informing me of this change and now I have to make up for their screwup ?? Why again were the banks given bailout money from the gov't just so they can turn around and alter the terms of their offer to the customers?
During this conversation I was informed that I could accept a 7.99 rate, at the 2% interest fee, and have the 10.00 monthly charge dropped.
This to me is borderline extortion.
What these tactics will in the end do, id customers like myself will not be able to afford the higher minimum payment as OUR work i sslowing due to the economy which is directly due to the banking system. Chases customers will either defualt on the card payments or even worse for the economy will start to file for bankruptcy.
These tactics MUST BE STOPPED before they snowball into a much larger issue.
Thanks for your vote!
AbeTorrance, CA
Reviewed Jan. 27, 2009
I had agreement on a credit card for 3.99% for the life of the loan. I made my payments on time and I honored my agreement. Now they are changing terms to 7.99% or raising the min payment to 5% instead of 2% of the loan plus additional $10 monthly charge. They enforce the terms and illegally change the agreement and they try to ruin people livelyhood to satisfy their greed.
Thanks for your vote!
JacqueBurleson, TX
Reviewed Jan. 27, 2009
I too received a notice in the mail today that my interest rate was being adjusted to an outrageous rate. I too have always been a good customer - this is as bad or worse than the mortgage companies and their ARM loans!!! It's no wonder everything is going to hell in a hand basket! I am closing my account-I refuse to be treated like this and they don't deserve my business!!!
Thanks for your vote!
HughGrant, FL
Reviewed Jan. 27, 2009
I am in the same boat as those complaints that follow.
My minimum payment went from $138 last month (Dec 08) to $339 this month.
My options per the Chase rep I spoke with: (1)agree that my rate will go from 4.99 fixed to 7.99 to maintain a minimum payment of 2% of the balance. (2)pay a $10 per month service fee and have my minimum payment move from 2% of the balance to 5%...or
(3) pay my card off within 30 and close the account.
I was part of a class action suit in 2000 against Advanta National Bank, USA. In that case a 'guaranteed' rate of 9.99 jumped to 19.99. The result was Advanta lost and was fined $7 million, in addition, had to refund all monies collected using their NEW rate.
Thanks for your vote!
HughGrant, FL
Reviewed Jan. 27, 2009
I, too, have the fixed until payed in full 4.99 rate with Chase Card Services. Last month (Dec. 08), my minimum payment was $138.00. This month, $339.00. I called customer service and it was explained to me that my credit card agreement has changed. New terms: to remain with the 4.99 rate, I will be charged a $10 per month service fee and my minimum payment will be 5% of the card balance versus its previous 2%. My options are: for my minimum payment to remain at 2% of the balance, my NEW RATE will be 7.99%. Additional option: pay the balance in full within 30 days and close the account.
Much the same happened in 2000 with Advanta National Bank, USA. I was given 9.99 rate, fixed until paid. Shortly after, they raised the rate to 19.99. I became part of a class action suit that cost them a $7 million fine, and reimbursement of all monies they had collected using their NEW rate.
Many thanks guys for that 'guaranteed fixed rate.'
Thanks for your vote!
SusanTrabuco Canyon, CA
Reviewed Jan. 27, 2009
We hold a credit card with Chase Bank, which was previously acquired as a BankOne card. We have excellent credit and utilized a 3.99% life-of-the-loan interest rate on this card. Our latest statement indicates changes were made to our cardholder agreement as follows: Our minimum payment of approximately $386.00 was increased to $916.00!! A monthly service charge of $10.00 is being added and that is accumulating an interest rate of 9.99%. Per customer service (2 calls made on two separate days), there is no opt-out option other than to accept changing our current 3.99% life-of-the-loan rate to a 7.99% rate until the year 2011. Then I guess the sky is the limit for them!! This had absolutely nothing to do with our credit-worthiness - I was told it was due to economic conditions.
Thanks for your vote!
TraceyChariton, IA
Reviewed Jan. 27, 2009
i received a notice from Chase within the last week advising that they would be changing rates and that i had the option to opt out. I misplaced the notice so called Chase customer service and was told that the notice was sent in December. I know for a fact that i had just received the notice in the week of January 12th. I advised I did not have the notice in front of me, as I had misplaced it but that I remember it had the option of opting out. I have been with Chase for at least 6 or 7 years with no late payments, etc. I actually have two Chase cards, one with a very low balance and this one in particular with about $6000 on it. We do not use the one with the higher balance and just pay on it every month.We got it for 4.99 interest rate for the life of the debt, and with no annual fee. I was told I could opt out but that would close the acct and I would have to pay the entire balance w/i 30 days, which is not an option for me. I also could go to 7.99 interest rate, or I would automatically go to $10 fee each month and from 2% to 5% payment increase, which would make my payment around $310 per month, when it had been aprx $120. I certainly do not have an extra $190 a month to pay or I would have been paying the card down in the first place. I think it is unethical and possibly criminal that Chase is allowed to treat it's customers this way.
Thanks for your vote!
TiffanyHighlands Ranch, CO
Reviewed Jan. 27, 2009
I like others on this forum, had a fixed 2.9% interest rate. All of a sudden Chase decides to raise the minium payment to 5.45% of my balance making my payment jump from 134.00 a month to 393.00 with little notice. They kept the 2.9% interest. Raised the default rate to 29.9% and started charging a 10.00 a month fee which is subject to the 29.9 % interest. This is the wrong thing to do to people right now! This type of action needs to be stopped. This can devastate our economy even further and ruin peoples credit and lifetyles. I have always paid my bill 2 weeks in advance and have great credit history. This is an outrage!!!Dont make innocent people whom were not victiums of the sub- prime mortgage now have to suffer the consequences of bad decisions that others have made.
Thanks for your vote!
RichardSavannah, GA
Reviewed Jan. 27, 2009
Chase Credit Cards instituted a $10/monthly fee and increased the minimum monthly payment to 5% of the balance from 2%. This increased minimum monthly payments from $200 range to over $525. I have the original offer from them which induced me to initiate the transfer that guaranteed the fixed rate (2.99% and no other fees)for the life of the original transfer with minimum monthly payments calculated on 2% of the monthly balance. I pay monthly online and have never been late, missed a payment, or paid less than was due. They never notified me until I received the monthly billing statement. I called customer service and talked to Adrian and when I told her that I had never been notified she said I should have and that she would send me a change in terms notification. She also said accept the new terms or pay off the entire balance immediately.
Thanks for your vote!
NasserWhittier, CA
Reviewed Jan. 27, 2009
I have the same complaints regarding Chase credit card as the other customers.PLEASE HELP.I have a Chase card with a 3.99% rate for the life of the balance.I never been late for my payment,always pay more than the minimum but do not use the card at all.I was shocked when I opened my statement to see that chase bank card add a 10.00 per month serves charge also my my minimum payment jump from 2% to 5%.But what we are going to do.Im in with all of u guys.
Thanks for your vote!
JohnUtica, NY
Reviewed Jan. 27, 2009
I am writing to make a complaint against Chase credit card services. I received an offer for a balance transfer for a 3.99% interest rate for the entire life of the balance transfer with a 2% minimum payment due. I took advantage of that offer and transferred $11,000 in August of 2008. I was charged a $199.00 fee to do this. My minimum payments were a little over $200.00 a month. When I received my last statement, they raised the minimum payment to $483.00 a month plus a $10.00 a month service fee. My balance right now is $9674.00. When I spoke with them, they said they sent me a change of terms? in November! They said that they could change the terms whenever they wanted and I had two options. The first option is to pay the balance in full within 30 days and close the account. The other option is to for them to change the interest rate to 7.99% until January of 2011. I tried to explain to them how unfair I thought this was and they just kept giving me rehearsed answers about how bad the economy was and that what they were doing was legal. I tried to explain to them that it may be legal but it was not ethical or moral. I have good credit and would never had transferred the balance in August if I knew they were going to change the terms in November. I cant understand how the government can help the credit card companies and then in turn the credit card companies try to put the consumer into bankruptcy. When I asked them if the 7.99% was a firm offer, they said they could also change that at any time. So even if I agreed to that, they could impose other fees anytime they wanted to. I really think that something needs to be done about this and I am asking for your help.
Thanks for your vote!
DavidWest Chester, PA
Reviewed Jan. 27, 2009
Let me add my complaint about this bank card. Suddenly a $10/month fee and a minimum of 5% of balance due each month is demanded. All I got from Chase Cust Service is the same offer of a floating rate of 7.99% or a special forgivness program at .89 per $100 owed.The rep had the audacity to state it is Chase's way of helping consumers pay down their debt.
Thanks for your vote!
ReyPhoenix, AZ
Reviewed Jan. 27, 2009
ATTENTION EVERYONE:
Unfortunately I work for Chase here in Phoenix. I too agree that they are a horrible company, but in these times I need the job.
My suggestion to everyone, file your complaints with the Office of the Comptroller of the Currency. These are the guys that actually scare Chase and can force them to change their practices.
I work for the company and will not EVER own a Chase credit card. Enough said. Again contact the Office of the Comptroller of the Currency...
Thanks for your vote!
OksanaBroolyn, NY
Reviewed Jan. 27, 2009
In 2007 a Merchant charged my card for over $1,500, without an authorization. I have been disputing said charge for over 2 years. Thousands of calls, letters and complains and still no results. I strongly believe that what their doing is illegal as well as abuse.
Thanks for your vote!
DianeSandusky, OH
Reviewed Jan. 27, 2009
I have always had several Chase credit cards, although I only carry a balance on one with promo rates for the life of the balance. 3.99 and 4.99% I was paying 2% of the balance every month. Never late and nowhere near over my credit limit.Recently, Chase informed me they were closing one do to lack of use. Okay fine, BUT-now I get my statement on the card that I have the balance on and they want 5% of the balance minimum payment AND they have added a $10 service charge! I cannot afford to go from $160 a month to $400 a month! I of course called and the only way to get my payment back to 2% is to go to 7.99% interest until 2011 and then who knows what after that!
Thanks for your vote!
MelanieHawthorne, NY
Reviewed Jan. 27, 2009
Their NEW disclosure statement2. ANNUAL RENEWAL NOTICE
The account service charge is billed to your account monthly whether or
not you use your account, and you agree to pay it when billed. The charge is
$10 per month ($120 total annually), and it is a finance charge.
Thanks for your vote!
PatriciaMiddleburg, FL
Reviewed Jan. 26, 2009
Today I received a letter from Chase stating that they would be taking over my Washington Mutual Credit Card account in March 09. Chase is raising my present intrest rate of 7.99% to 10.24%. This is retroactive interest on my existing balance. I have never been one day late and have used appx 1/2 of credit limit. They do offer an opt out which will keep my intrest rate at 7.99 but I have to close my account. By closing the account a ding goes on my credit score. I called Chase but they could not speak with me about it because the accounts have not been transfered to Chase however my opt out deadline is Feb. 20,09. This is a Catch 22. If I could speak with Chase prior to Feb 20th I could perhaps negoiate with them to keep my present rate but Chase will not be able to discuss the account until March 04,09. This is appaling, my money helped with the bailout money to buy Wa-Mu now I am going to again be penelized by higher rates. Please Help
Thanks for your vote!
CarlSanatoga, PA
Reviewed Jan. 26, 2009
I have two Chase Bank cards, (wait that was with FirstUSA!). I was offered 2.9% and 3.9% back in 2002. I already gave the bank 3% to transfer $42,000. I have never missed payments on anything. I current have good credit too. My payments for both cards are around $450, with a balance now of $23,000. Chase is changing my minimum to 5% along with $10.00 service fee on each. My new payment will be over $1200.00, which makes it $800.00 more. Is this the thanks us tax-payers get for giving them a bail out?
Thanks for your vote!
AlanIndianapolis, IN
Reviewed Jan. 26, 2009
I am another that has been ripped off by the Chase system. Increasing my payment from 2% to 5% is the reward I get for never being late and paying down my balance. I will move my balance to another holder and NEVER deal with them again. The government needs to step in. They should not get a dime of our tax dollars. And should be punished for doing this. It's going to destroy a lot of people. This is totaly unreal what they are doing.
Thanks for your vote!
JohnDuluth, MN
Reviewed Jan. 26, 2009
called about chase increasing my monthly payment on balance due from 2% to 5% which we cannot afford--she said if we didn't pay amount due, our credit rating would be poor, was of no further help/very disappointed.
Thanks for your vote!
JoeWest Des Moines, IA
Reviewed Jan. 26, 2009
Like the other complaints I too received a $10 monthly charge - with the option to opt out and have my 2.9% rate raised to 7.9%.
HERE is a site for a potential Class Action law suit.
http://www.gslawny.com/lawyer-attorney-1383679.html
Thanks for your vote!
MarciaValrico, FL
Reviewed Jan. 26, 2009
The same thing happened to us! but I'm fighting back, I filed complaints with every agency, state attorneys, BBB, etc. and got a call from Patricia Dewan( Chase) that gave me the same ridiculous, I understand bur here are your options... BS, the options that benefit no one but Chase! I asked her what the initial 3% fee or up to $199.00 was for, she said that was for the initial offer! Offer that they have not honored! she said that the federal goverment allow them to do what they are doing and that the bail out money din't go to the credit card Co and also that I can complain to whoever I want because she handles all complaints. What a joke!
Thanks for your vote!
JoeSelkirk, NY
Reviewed Jan. 26, 2009
I was offered over the phone in 2006 to move my credit card debt to Chase at 3.99% fixed for the life of the loan. I did so and have made every payment on time. I received my Jan statement and my payment went from $512 to $1215 (2%-5%) and a ten dollar service fee. My wife called Chase and the rep said they added the service fee because we weren't using the card and Chase wasn't making any money on us.This service charge is at 9.99% which raises my overall rate. Since all payments go to the existing balance this service fee amounts to about $15 per month.I wasn't happy about this and called myself a few days later. I was told I could opt out of the increase and was transfered to another dept. Here they told me the previous person I talked to was new and there was no opt out. they said I needed to do it by 12/31 and was sent a letter to this effect. I never got a letter!I then spoke to a supervisor that told me it was too late and I couldn't do anything. I waited a couple days and called again. This time I was told I could pay it off in full -fat chance ($24,000)- or I could go back to my $500 per month payment if I agreed to a new rate of 7.99%. This doubled my interest so they would get extra money on the interest charges. They also said that by raising my payments they were helping me pay my loan faster. I don't need there help with that. I need my rate to go back to tha 3.99 without a service charge. I want them to honor their contract. After all when I was struggling I didn't call them and say I was going to cut my payments in half.If there is a Class action suit I want in. I have also sent letters to NYS Attorney General and Consumer Protection Board. I think we should all send an e mail to Barak Obama at WhiteHouse.gov and tell him to stop giving money to the banks. They are not out to help anyone!!!!!!
Thanks for your vote!
MartyGladewater, TX
Reviewed Jan. 26, 2009
Chase Bank has raised my fixed rate 3.99% balance transfer for the life of the loan to 14% interest with an increase from 2% minimum payment to 5% minimum payment and a $10.00 per month service fee. I have never been late and have always paid over the minimum due. Can they legally do this? I did not receive a notice either. I have asked for a supervisor to call me back on this?
Thanks for your vote!
KevinAnn Arbor, MI
Reviewed Jan. 26, 2009
Chase has just informed me that they are raising my interest rate on one of my credit cards from 9.99% to 16.99% I have never missed a payment and my credit scores are all mid 700's. I was lured in with low attractive offers. And now they want to raise the rate to an insane amount.
Thanks for your vote!
SheilaCape Coral, FL
Reviewed Jan. 26, 2009
I was offered a low interest rate until the debt was paid off. I have paid on time and more than the minimum rate. 1/05/09 the minimum payment was $252.00. 2/5/09 the minimum payment was $620.00 with a $10 transaction fee to keep the lower interest rate. Or I could go to 7.99% and back to the lower minimum payment and no transaction fee. I have never been late and always paid more then the minimum amount due.
Thanks for your vote!
JonathanBeverly Hills, CA
Reviewed Jan. 26, 2009
Turns out that Chase's new business tactics are indeed all in the fine print and I finally found it!!! The letter that Chase sent out telling customers of the minimum payment increase from 2% to 5% and a required $10 monthly service charge was not actually a letter at all!
Sometime back in Nov of 2008, Chase sent out a series of their cash advance/balance transfer checks or whatever they call them. On the very back where all the fine print is, Chase burried a one-line sentence stating that this account's minimum monthly payment will increase from 2% to 5% and be subject to a $10 monthly service fee beginning in January 2009.
Thanks for your vote!
BehrouzLeague City, TX
Reviewed Jan. 26, 2009
I had a fixed rate 4.99,I always paid them on time,I noticed that charging me extra $10 on my two account pluse increase payments double that I used to pay,I call representive,all; was told I can change the term with limit time& higher interst.
Thanks for your vote!
HillarySeattle, WA
Reviewed Jan. 25, 2009
I have been a loyal and dependable Chase Customer for several years. Chases reward for good sound financing is to completely screw over their customers. I will participate in any legal action to remedy this situation. I am outraged by their greed and complete lack of consideration for their customers. They did the following. A $10.00 per month service charge added on 2 cards. So a $120.00 annual fee added on 2 cards. Chase will make $240.00 per month on cards that had no fees initial fee. Also-they changed the rate from 2% of balance due to 5%, increasing my monthly payment from $140.00 per month to $345.00 per month on one card. And from $160.00 per month to $394.00 per month on another card.
This means I need to come up with an additional $440.00 per month in my budget AND I am still paying them $120.00 per month in fees.
Outrageous-I have been an excellent customer and this is how I am rewarded.
Thanks for your vote!
RonaldBurney, CA
Reviewed Jan. 25, 2009
opened an account in 2001. Paid all charges on a monthly basis keeping the card clean.
Thanks for your vote!
DianeChicago, IL
Reviewed Jan. 25, 2009
My husband and I have taken advantage of the low FIXED (3.99% and 4.99%)interest rate guaranteed for the life of the loan that Chase had to offer. We have alway made the minimum payment or more on time. In fact, I always walked in my payment to a Chase bank so that I would never be late due to the US Postal Service. I knew the rules I had to follow to keep the low interest rates such as: DON'T BE LATE on a payment and NO credit card purchases. I have been a customer with Chase for many years and always played by the rules. Now Chase decides to raise my 2% minimum payment to 5% and tack on a $10.00 monthly Service charge. My payment has jumped from $470.00 a month to $1,146 a month. I realize I have a high balance with Chase however at the 3.99%/4.99%, I knew I could handle the payments as long as I follow the rules. It isn't fair that Chase doesn't have to play by the rules. I know the banks are in trouble for bad loans. I don't want to be another statistic. All I want to do is pay my loan at the original agreed rate.
Thanks for your vote!
JamesSt Louis, MO
Reviewed Jan. 25, 2009
Before I post, I want to list another site to register a complaint:
Office of the Comptroller of the Currency
Customer Assistance Group
1301 McKinney St, Suite 3450
Houston, TX 77010-9050
tel # 800.613.6743
fax # 713.336.4301
website http://www.helpwithmybank.gov
I had my 2% min. payment raised to 5% and a $10 fee added to my Jan 2009 Chase statement. I could, but I will not move my Chase debt to one of my other credit cards, because Chase would have succesfully eliminated my 3.99% interest rate (for life).
If Chase establishes a successful bussiness model, the other banks will adopt it as well.
Before I am late on any credit card payment, I will contact (one of my other) Chase credit card's balance transfer account agent. I will transfer money into my checking account and use that money to pay off my other debts.
If I am forced into Bankruptcy Court, Chase will be the only company that I will owe. I do not want to effect the other banks, if I file bankruptcy.
Thanks for your vote!
LarryLawrenceville, GA
Reviewed Jan. 25, 2009
I have had a [Chase] Fidelity Bank credit card for years, the one with the lions head. I got it years ago as a First USA / Bank One offer and then it was bought by Fidelity and now actually sold to / serviced by Chase. Thus the card no longer has anything to do with Fidelity Bank. On this card, with a very high (over $30,000 limit), I have had a very large loan @ 2.99% UNTIL PAID since... 2004. Thus I put nothing else on the card. I had some good financial luck a few years ago back and could have paid off the card but I put the money in a CD at over 5%, need I say more. No need to pay it off. I've just been paying the minimum and making money.
Thanks for your vote!
GaryTucson, AZ
Reviewed Jan. 25, 2009
3 LOW INTEREST CREDIT CARD ACCOUNTS, ALL WITH RATE FOR THE LIFE OF THE LOAN. THEY ARE CHARGING $10.00 FEE AND MINIMUM 5% PAYMENT. PAYMENTS WENT FROM $750 A MONTH TO OVER $2200. MANY CALLS ONLY RESULTED IN IF YOU DON'T LIKE GETTING SCEWED THIS WAY, WE CAN SCREW YOU ANOTHER WAY. YOU HAVE A CHOICE!
Thanks for your vote!
LesleyOakmont, PA
Reviewed Jan. 25, 2009
I pay credit card more than minimum due every month...got roped into their 3.99 interest promo, just recieved my bill saying i now owe 5% of my bill ea month, doubling my payment OR I can pay same amount but they will increase my interest rate to 7.99%. This is highway robbery. I hate them. Guess the bail out money didn' do us any good, hope they are living well...I can't afford this payment.
Thanks for your vote!
CharlotteKyle, TX
Reviewed Jan. 24, 2009
Please add me to the list of outraged Chase credit card holders. How dare they treat their good loyal customers after the banking industry is getting a gift from our tax dollars. A week after they raise my credit limit I receive the we are going to raise your interest because we can notice. When I found this website I could not believe there are so many good customers they are treating so badly.
Thanks for your vote!
AfWashington, DC
Reviewed Jan. 24, 2009
I accepted 5 offers over the years - 4 of them at 3.99% and 1 offer at 4.99%. I am on autopay so never missed or was late with a payment - It was extremely difficult to pay more than their 2% as if you sent in an extra check then they reduced the next auto pay by that amount. So this move to 5% per month is a shock -
My problems with CHase are the same as those listed - my auto deduction payment to Chase on the funds at 3.99/4.99 rates that were with 2% payments increased from zero to monthly $10 fee and increase to payment of 5% each month or switch to 7.99% till 2011 when they change to variable.
They add finance charges to the 6.99 purchases rate (which was less than $300 but through finance charges and fees is climbing fast) as well as the 10 each month.
Thanks for your vote!
MirwaisFitchburg, WI
Reviewed Jan. 24, 2009
People...contact your senators, house of representative rep., your local consumer protection agency, the media, the white house, etc.
====
Help Needed with Chase!
I had a 3.99% and 4.99% until paid off? rate with Chase bank on an approximately $10K loan. My minimum payments were $216, which I paid diligently over the many months, anywhere from $260 to $350 every month, never missing a payment, never paying late and always paying more than the minimum.
Yesterday, I got my January statement and my minimum payment was increased to $531 and I was charged a $10 MONTHLY service charge at 22+%. This was all done without ANY discussion with me. Of course, as you can imagine, as I pay my new minimum payments, they will be applied to my low rate balances first and the monthly service fee will keep accumulating, being charged 22+%.
I called Chase to say, Whats going on?? and the poor call center guy tried his best to tell me that EXECUTIVES have decided that due to the downturn in the economy they need me to pay more to ..reflect the current economic conditions? He also said that millions of accounts have been affected this way. The Executives? should cut their pay to $0 to get through their mess! I thought we were all in this together and the economic conditions also affected me, the payer. What if I lose my job and cant pay at all and all my emergency savings are used up just to live? When the prime rate is close to 0%, you would think they would want to offer me a better rate so that I would NOT default and keep paying them, but it seems Chase has decided to penalize good, long-time, paying customers because the bank is in a bind; however, what if I cant pay and I default, would that be better for them??
Anyway...finally I asked what other options I have and the call center guy said that they can change the terms of my agreement and give me a 7.99% rate until January of 2011, with payments at about $200 monthly, and waive the $10 service charge, so I agreed I had no choice! I will pay these bozos off and never do business with them again! I can get better commitments from local banks and credit unions.
If my mortgage does what Chase is doing, I am done for!!
How can all this be legal and right? How can you expect to retain customers this way? This is backwards from what they should be doing! Why is this being allowed? From now on, do I need a lawyer to review and edit all my agreements with these banks?
Thanks for your vote!
RobertNew Boston, MI
Reviewed Jan. 24, 2009
Chase also hit us with the $10/month service charge and the increase in monthly payment from 2% to 5% of total balance. This has also happened to several friends, co-workers, and family members. If you are on Facebook, please join the group I bet I can find 31,647 people that are disgusted by Chase Bank.
Thanks for your vote!
SherrylOsceola, IN
Reviewed Jan. 24, 2009
Chase credit card raised my monthly payment from 200.00 to 462.00 plus a 10.00 a month fee! I too was offered a low interest rate of 3.99% for the life of the loan on transfer balances. Now this is just plain crazy to think people can afford this kind of monthly payment! I have never been late and have always paid more then the minimum amount due......I called Chase and was told that now 5% of the balance is due instead of 2% this is just not fair. I was also told I could take the rate of 7.99 until 2011. Please someone help everyone who is now been put in this position......I'm laid off work and my husband is on disablity. This is a lesson to anyone thinking about getting a Chase Credit Card! PLEASE DON'T!
Thanks for your vote!
JosephPalmer, AK
Reviewed Jan. 24, 2009
Like many others we've now read about, we accepted a Chase 'low rate for the life of the loan' offer. And, like the other complaints here, we have excellent credit, paid more than the minimum, and were never late. This month, Chase instituted a $10 monthly fee on our credit card account, and more than doubled our minimum monthly payment, from less than $200 to $468. I immediately wrote my senators and congressman, asking them to revisit and change the terms on the bailout money that I, the taxpayer, recently loaned to JP Morgan Chase. I asked them to prohibit Chase from making any such changes to the accounts of their clients. I figured that if they can change the terms on the money I borrowed from them, I can change the terms on the money I loaned to them. I encourage every one affected by Chase's recent action to likewise write their representatives in Washington, and their state's attorney general. If a class action suit is filed, I want in.
Thanks for your vote!
NikkiBridgeport, CT
Reviewed Jan. 24, 2009
I have experienced what so many others here have with Chase. What a deceptive company this is! I have had numerous charges from a company called Wuyi Tea whom I've NEVER heard of before I started to see numerous charges in my account under that name. I called Chase worried that my identity had been stolen and they were at first helpful They cancelled my card and reversed all the charges, I then received letters stating that they were investigating (I've kept those) I then had to call a second time when i noticed new charges on my account, the kicker is, the charges were made after i cancelled my card and I had not yet received my new card??? Chase AGAIN, reversed the charge and sent a letter saying they were investigating Today I had to call them AGAIN to dispute yet another charge from this company on my new card! When I called this time, they advised me that I had to call the merchant. Why the heck would I call the merchant when I've never dealt with them previously? What am I going to say.. hey, can you stop fraudently charging my account??? Are we serious? Why do I pay Chase hundreds of dollars in finance charges and pay for Chase identity protection (total crock) when they are not helping to protect my identity or service their customers properly?? I've written complaints to the BBB in Ohio and to Chase corporate - although I'm sure this will solve nothing. When companies that make $90 billion a year treat their hard working customers (who bail them out with their tax money) like dirt, what are we to do? What can we do? Besides cancelling our cards after they're paid off, what;s the resolution? Its not fair that thousands of people are taken advantage of in this way. My next steps- write a letter to AG, senators, somebody because this has to stop. We have to put the power back in our hands, we pay THEIR pockets after all.
Thanks for your vote!
DimitriosFlorissant, MO
Reviewed Jan. 24, 2009
WOW! How can Chase get away with this.
I am paying $23.11 in interest per month and now they are tacking on a $10/month service fee! This is approx. 50% YES 50% of my interest payment. Then to add insult to injury they bump up the monthly payment from 2% to 5%!
I hope Obama regulates the HECK out of the credit card industry as they deserve! I did not sign up for any monthly service fee.
Unfair consumer practices.
Unfair truth in lending.
Thanks for your vote!
DimitriosFlorissant, MO
Reviewed Jan. 24, 2009
WOW! How can Chase get away with this.
I am paying $23.11 in interest per month and now they are tacking on a $10/month service fee! This is approx. 50% YES 50% of my interest payment. Then to add insult to injury they bump up the monthly payment from 2% to 5%!
I hope Obama regulates the HECK out of the credit card industry as they deserve! I did not sign up for any monthly service fee.
Unfair consumer practices.
Unfair truth in lending.
Thanks for your vote!
GeraldTucson, AZ
Reviewed Jan. 24, 2009
I have been a cardholder with Chase since 1969 and have excellant credit and hav e never missed a payment
Since having had a fixed rate guarenteed not to go up for the life of the balance was charged the $10 montly fee on my January statement. On January 12, 2009 I contacted the Executive Office of Card Services and and was offered the 7.99% APR on my promotional balance. I accepted the offer and was told I would receive a $10 credit on my February bill and would not be charged the $10 monthly fee. I also requested a copy of the changes wich I did not receive.
I sent a check to pay off the credit card and received a letter on January 19th that they were sending me a check for the $10 fee and that they had reviewed my acccount and received the balance payoff on January 16,2009.
I also received the notification of changes.
The letter stated that new terms have taken effect and to avoid further service fees from being assed my account must be closed.
I checked on line today and Chase is offering a LOW Interest Platinum card
(which I presently have) with 0% apr for 12 months and No Annual Fee.
Now how can you change a rate that was guaranteed for the life of the balance, agree to the change of 7.99% until January 2011 and be told that if you did that there would not be any $10 service charge, and then be told that you have to close your account that was paid off to avoid the $10 montly charge.
Do I close my account and apply for the account they are advertising on line with no annual fee and 0% APR.
Thanks for your vote!
BrendaLand O Lakes, FL
Reviewed Jan. 23, 2009
I responded to a balance transfer offer for 4.99% for the life of the amount and have always paid more than the minimum payment. I received my new bill and Chase has changed my payment from 2% to 5% and added a $10 monthly service fee to the account in addition to the 4.99% finance charge. I have a 780 credit score and I am never late on any of my bills.
Thanks for your vote!
TerryChicago, IL
Reviewed Jan. 23, 2009
As with many others Chase credit cards has doubled my minimum payments amount. I am locked into Low % fixed amount until the entire debt is repaid, so this is Chase’s way of trying to get around their contract with me. I was told by the chase customer service rep that there is no option to opt out of this and that they have the right to raise the minimum payment to any rate they desire "although unlikely" yeah right. I was told I was sent a notice (I received no such notice and have gone back through all the mail I have received from chase and I don’t throw out anything, not even advertisements!). I again asked to decline this and to put my card on freeze he said I could not decline it and it would still be enforced on my account. According to the chase rep that is a mute point anyways, in that even if I don’t receive the notice, I have no recourse. He also stated that since this is not considered a policy change (although I have called my other cc companies and they say yes it is a policy / agreement change and you have 45 days to decline the offer and continue with everything the same as it was before the change) and therefore no right to decline the offer. I have never been late with Chase pmts, and have had chase accounts for over 15 years. I was given the option of going back to my minimum payments but with an increased interest rate of 7.99 % “guaranteed until 2010or 2011. (At which point I am sure they would jump it to 39%! I have been an honest citizen, honoring my contract with Chase. Chase has made bad investments and is making its honest ON TIME paying cardholders responsible for Chase’s mistakes by increasing interest rates and increasing the minimum payments due. My agreement with them stated a 2% min payment. I saw no where in my agreement (without aid of a magnifying glass or in many cases Microscope) of their ability to change this. WE have given the credit card companies and banks billions in Bail out money. Chase has received 20 Billion if I remember correctly. This is our money , tax payer money, used to bail them out of poor investment and business practices, but and now they are again not only extracting but almost blackmailing us out of our low interest contracts into higher interest rates with temporary time limits in order to further help bail them out. ITS TIME TO FIGHT BACK. Others on here have stated they are fighting back, HOW ARE YOU DOING IT? CLASS ACTION LAW SUITE Can we all say “CONSUMER CREDIT CARD BAILOUT� Where we the citizens get our bailout money? Write Obama, lets take charge. Lets see if Obama is really for the people and not big business.
Thanks for your vote!
PatrickHuntington Beach, CA
Reviewed Jan. 23, 2009
Chase raised minimum payment from 2% of balance to 5% of the balance & charges $10/month service charge Finance charge. payments went up from $343 to $843 month.
Thanks for your vote!
CharlesSearcy, AR
Reviewed Jan. 23, 2009
Just like everyone, Chase sent me an offer to transfer a balance with interest of 3.99%, which I accepted for the life of this loan. January bill there was the $10 (they call maintenence fee) on my bill. Emailed them and they said if you don't like this we can raise your interest rate to 7.99% and will remove the $10 fee. I was able to pay them off and cancel the credit card, but most people can't do this. Their should be a law against this. I have contacted my Congress people, but as of now haven't heard anything. It just isn't right and after we bailed them out to the tune of BILLIONS!!!
Thanks for your vote!
DianeRoyal Palm Beach, FL
Reviewed Jan. 23, 2009
CREDIT CARD THAT I HAD FOR OVER 12 YEARS SUDDENLY WAS CLOSED. I HAD NEVER BEEN LATE NO BALANCE ON ACCOUNT.
Thanks for your vote!
JimGuerneville, CA
Reviewed Jan. 23, 2009
I just became a customer of Chase. The company that I first signed up with decades ago (Providian) was bought out by Washington mutual a couple years ago. Washington Mutual honored my existing agreement with Providian. Well, just a few months ago Washington mutual went belly-up and here comes Chase to save the day (or themselves). I dont have much of a history with Chase, but I do know by there actions they don't want to keep me as a future customer. I like everyone else had paid my bill on time every month, as a matter of fact I always paid well above the minimum, regularly in full. About a year and a half ago we purchase a house. I decided to remodel, used my savings, then used my revolving credit (at the time it was Washinton mutual). Back to present day. We are on a path to retire this debt, Then, as soon as Chase took over my account, my intrest rate went from 11.9% to 22.9%. When I called customer service all the rep could say is I understand then went on to tell me this is what it is and there is nothing that will change. Every time I explained how wrong this was, his answer was I undesrstand. I got tired of chewing this poor guys ear off, so got to speak with a supervisor. He didnt tell me that he understood. He just stated the fact that there is nothing I can do about it, end of conversation. My wife also has 2 accounts with Chase. They haven't gotten to her yet. But I assure you, we will both be looking for another source for our revolving credit.
Thanks for your vote!
BrianAkron, OH
Reviewed Jan. 23, 2009
Like others I received a notice in the mail recently indicating my rate on my Chase card would increase by 4% effective March 1 due to market conditions. This card is at approximately 50% utilization and I have never been late on a payment with this or any other credit card company. My only option is to close my account which supposedly locks in my rate at 9.99% but I'm quite sure it will negatively affect my credit score to do so since my availablity will shrink by appx. $5,000 and that will cause my overall average card usage percentage on all cards to go up. Can't wait for other cards to jack up my rate once my credit score goes down. Thanks Chase, this couldn't have come at a better time for my family. It's good to know when the going gets tough, the tough can appeal to the government for $25 billion in rescue aid and then turn around and screw their customers due to market conditions. What about the consumer's market conditions?
Thanks for your vote!
DanielNewburgh, NY
Reviewed Jan. 23, 2009
We have several low interest credit card accounts with Chase & they have recently added a monthly $10 Service Charge/Finance Charge to my account as well as requiring much hirer payments than in the past. I never agreed to paying $10 a month for the privilege or having these accounts. This fee is an unfair, unauthorized fee & my payments should have remained the same through the life of the loan as they originally offered.
Thanks for your vote!
MichaelAnn Arbor, MI
Reviewed Jan. 23, 2009
Like what happened to many other people, Chase also imposed a $10 monthly charge on my credit card acount and increased my min. payment from 2% of the balance to 5%. The bank gave me a fixed rate for the lifetime of the loan. The customer service people are rather firm on this (unlike my past experiences with this and other banks). I am of course furious about this, like other people, but am also wondering if there is anything we could do really about this. If nothing else, we need let people know what a company Chase Bank is. (A friend of mine has a similar fixed rate balance transfer with Citibank. He called after learning my experience and was assurend that Citibank does not do that. I hope it stays that way for him.)
Thanks for your vote!
JaneNewburgh, IN
Reviewed Jan. 23, 2009
The same complaint as others! I 'thought' I locked into 4.99% for the life of the loan. I've paid everything on time and have EXCELLENT credit scores. I too, am on social security disability so doubling my payment isn't the best news I could get.
Thanks for your vote!
JosephAlbuquerque, NM
Reviewed Jan. 23, 2009
I accepted a 2.99% FOR THE LIFE OF THE LOAN transfer and I have met all my obligations with the agreement and now chase is breaking the agreement and raising my interest rate.I paid a 3% transaction fee and paid every payment on time.
Thanks for your vote!
WilliamGreensburg, PA
Reviewed Jan. 23, 2009
I've had two Chase cards for years. With our great credt ratings, we were offered 2.99% and 3.99% interest rates for balance transfers for the life of the balance transfer. The minimum payment due was 2% of the balance. We transferred a total of $33,000 to the cards. We never missed a payment, always on time. Now Chase has instituted a $10 per month service/finance charge to each account and raised our minimum payment due to 5% of the outstanding balance. Plus they are charging a finance charge on the fee! Now the minimum payment on one card went from $222 to $548 and on the other card from $475 to $1150.00! There is no way we can afford this change. When I called to complain, they said that I was sent a leter in November 2008 detailing the changes. I told them that I never received a letter, to which they basically said 'too bad'. I told them that this was not part of the original agreement for the balance transfers, but they said they may change the terms at any time. I have two options: 1. pay the balances off in full or 2. accept a 7.99% finance charge to replace my current 3.99% and 2.99%, which will reinstate the 2% minimum payment and eliminate the $10 service charge. That is outrageous. I asked to speak with a supervisor, but was refused stating that it would change nothing. What can we do?
Thanks for your vote!
RichardBeverly Hills, CA
Reviewed Jan. 23, 2009
My wife and I have been loyal and made sure to pay all of our payments on time in order to maintain the 3.99% promotion on our Chase card. We opened our bill this Jan. 09 and had the same huge shock, $10.00 maintenance charge and a new rate of 5.99%. I called and was it was explained in these hard financial times Chase needs to do this. I could not believe it they offered me 7.99% like they were doing me a favor. We pay all our bills on time did not take out any loans we could not handle and have tried very hard to be financially responsible, who would of thought our bank would not do the same.
Thanks for your vote!
ScotFosters, AL
Reviewed Jan. 23, 2009
Chase is refusing to allow me to pay the finance charges. My story is the same as many others here. I accepted a low 3.99% fixed-rate offer from Chase and the terms of my Chase credit card account were changed immediately afterward. In addition to the increase in minimum payments from 2% to 5%, I've also discovered that Chase is refusing to allow me to pay the finance charges. They simply add them to the current balances and apply my payment entirely to the principle. This means, for example, that the $10/month finance charge becomes, in effect, a $10/month purchase at %19.99. This doesn't seem right to me. How can Chase bill me for finance charges, then refuse to allow me to pay them, and then charge them to the account? This applies to all the finance charges. All interest gets rolled into current balances.
Thanks for your vote!
DavidSanta Barbara, CA
Reviewed Jan. 23, 2009
Borrowed $3500.00 from a Chase credit card offer for a fixed rate of 4.99% and a 3% balance transfer fee. Paid the first $1500 in monthly payments and the final payment of $2000.00 in one lump sum. Received an offer for another balance transfer at 3.99% fixed rate plus a 3% balance transfer fee with a $199.00 maximum. Borrowed $8000.00.
Have been making minimum payment or more each month ,never late and no missed payments.
Received a voice mail message, saying my minimum payment would be raised from 2% to 5% $140 to $340 and a $10.00 a month service fee would be applied. I feel this is an injustice and maybe illegal. Not the agreement I signed up for! Thanks David Laakman
Thanks for your vote!
DanaDecatur, IL
Reviewed Jan. 23, 2009
Same scenario as what most people have posted-we have a Chase card with a 2.9% and 4.9% rate for the life of the balance. We have never been late, always pay more than the minimum but do not use the card at all. I was shocked when I opened my statement to see the jump in minimum payment from 2% to 5%. Our minumum payment jumped from $327 to $806 plus the new addition of the $10 Service Charge fee. We are fortunate that we are in a position (for now) that we can make this payment. I'm outraged for everyone involved. I know this will cause a huge strain on others and force many to bankruptcy. So this is the American Dream? This is what you get for paying your bills on time, maintain excellent credit and uphold your obligations? It's sickening that we, the responsible, are paying for those who are not. There needs to be a class action lawsuit and I hope the ball is rolling.
Thanks for your vote!
ShouldPontiac, MI
Reviewed Jan. 23, 2009
I had a 2.99 life of loan rate and in Jan 09 my payment more than doubled! I have never been late! So I have to pay more because a bunch of people have went bankrupt?
Thanks for your vote!
DouglasSilver Spring, MD
Reviewed Jan. 23, 2009
This complaint relates to my Chase Visa Card.
A few years ago I used a couple Chase Credit Card balance transfer checks which promised a 4.9% and 3.9% interest rate "until the balance is paid in full". The payment schedule was a minimum of 2% of the balance until it is paid off. I was given this opportunity because of my outstanding payment history and outstanding credit. I have never missed a payment on anything.
Today, I was shocked to find out that my card is now being charged an additional $10 per month "finance charge" and my minimum payment has now been increased 150% to 5% of the balance. I called customer service and was told that I could avoid these changes by agreeing to pay 7.99% for 2 years and after 2 years the interest rate would increase to over 10%. The customer service rep said that they can change their terms at any time and they could have made it a $100/month fee if they wanted to. I guess they believe I should feel lucky.
They only applied these changes to accounts that took advantage of their promotional rates. Thus, it is clear that they simply don't feel like honoring these rates anymore.
I am still in shock as to how they can get away with this. I know that I am not alone in feeling helpless. I took on credit card debt so that my wife could be home to raise our two babies. I did this with the belief that I had some sort of commitment from Chase.
Thanks for your vote!
KarenSilver Spring, MD
Reviewed Jan. 23, 2009
A few years ago, I took advantage of a balance transer offer from Chase to consolidate debt at a low, supposedly 'lifetime' interest rate. I've paid at least the minimum, on time, every month. I've paid all other bills on time as well.
When I received my most recent statement, I discovered that Chase had increased the minimum payment from 2% to 5%, and had added a $10/month "Service Charge" ($120/year). This service charge has the effect of increasing the APR considerably! There was no explanation of these changes and absolutely no advance notice. The payment was due in less than two weeks.
When I called Chase for information, I was told these changes were a response to market conditions and that my choices were to pay the higher minimum plus the $10 service fee; or change to a limited time, higher interest rate offer (with no guarantee they'd honor the terms of this new 'offer' through its period). I pointed out I'd been given no advance notice of the changes nor the details of this alternative offer; I was told that notification of these changes would arrive "soon".
This is unethical, and shows the earlier lifetime offer was actually a 'bait and switch'. Chase made an offer, in which they promised a set interest rate for the lifetime of the debt repayment. I accepted in good faith, and have kept my end of the agreement. Now Chase has unilaterally altered the terms of the agreement during it's 'lifetime' term for reasons totally related to my payment history or creditworthiness.
When I accepted their offer, I transferred debt from other credit card - from creditors that (so far) haven't violated their promises. Chase's 'lifetime' offer now appears to have been a bait-and-switch tactic.
Thanks for your vote!
MelanieCanton, OH
Reviewed Jan. 23, 2009
I received notice that after being a responsible account holder for over ten years, never late on a payment, that my interest rate will go from 6.99 to 13.99. When I asked why any credit card company would do this to such a loyal/responsible customer their reply was, Unfortunately, due to so many people who have defaulted on their accounts the expense falls on the the other consumers. When I stated that at their interest rates they're making enough money, the reply was, not really. I closed my account. I have one other account still open and I will close that account as well.
Thanks for your vote!
PaulaNorth Hollywood, CA
Reviewed Jan. 22, 2009
Chase changed my finance charges to 25.99%. This is on charges that I have already made, not charges that I will be makeing. I asked them to lower my finance charges because they had no right to do that. I have never been late, I have paid more than the mim. That was enough grounds to ask to bring it down. They had no excuse and refused to do so. I incounter rudeness, being sent around in circles, left on hold for long minutes. My complaint was I was trying to pay it off as soon as possible and when I started to get it down they raised the finance charges making it very hard to get it down. I have brought it down a long way from what it was and do not deserve this. Do we have no rights, can this credit cards do anything they want to you. Is this the american way???? Something has to been done. Thank God I don't really owe as much as some others may. But with the state that everything is in is a like a million dollards...Please can't somebody stop this Chase Manhatten and games that they play. Washington Mu. asked me to apply for this credit cards and believe me the finance charges were nothing like they are now. That to me is a "SET UP". If you don't us it the cancel it, it you use it they wait tell it get high enough for them and than they raise the finance charges. They should not be able to do that on purchases that you have already made. To raised on purchases that you are going to make is different, at least you have the option to use it or not knowing the charges. This way you have no rights...IS THE THE AMERICAN WAY???? What about OUR RIGHTS and as consumers????
Thanks for your vote!
ScottSpokane, WA
Reviewed Jan. 22, 2009
I like so many others was hit with the $10 service charge and increase in minimum payment for having promotional only balances on my Chase card. I to did not accept the 7.99% option they offered. Instead I contacted my representative and senators, my Attorney General and Bill O'Reilly. There is a class action suit forming for this issue of which I will be one of the representatives. Relief could be coming. Don't give in, don't give up.
Thanks for your vote!
ArmandoBelton, TX
Reviewed Jan. 22, 2009
Chase charged me $70 in late fees. Payment was due on the 13th of each month. Payment made on 13th online but due to EFT transactions; the payment didnt go thru till the 14th.According to them, they have no grace periods.They were rude and offered no resolution.
Thanks for your vote!
ReinhardBrimley, MI
Reviewed Jan. 22, 2009
Add me to the group of individuals who have had the terms of their loans on Chase credit cards changed. If I keep my 3.99% promotional (which they advertised "for the life of the loan"), I will see my monthly payments doubled with a $10.00 "transaction" fee added monthly (the fee accrues interest at 11.24%). Cheryl McBeath, a supervisor in the Missouri call center informed me that my only other options are to either pay off the account or accept a lower payment schedule that would raise my rates to 7.99% (which would only be good until 2011, at which time the would be free to screw me again).
Thanks for your vote!
RobertN. Billerica, MA
Reviewed Jan. 22, 2009
Chase has been billing me for 9 months for a charge I never made, for a service I never received. The vendor, agreed I did not owe the money, and even sent me a return authorization number & email. They said they did not have the money since the charge was disputed. Chase not only refused to return my money, but is now charging me interest and penalties.
Thanks for your vote!
MarjCollierville, TN
Reviewed Jan. 22, 2009
Like everyone I see listed, I really am not happy with Chase Credit Cards. I have an account which I opened just to transfer a balance at their promotional rate of 4.99% for life until balance is paid in full. Last month I had a $153 minimum and now it's $379, also being billed an extra $10 for finance charges bringing my effective APR to 7.13%. Wow, that's not far from the 7.99% they are trying to shove down my throat along with the inflated minimum due each month. Like so many others, I have never used my credit card and only opened account to help get rid of debt at a lower interest rate. I have always paid on time and usually alot more than required, but what if something comes up and I don't have the extra money? These people don't care! I sincerely hope Chase is not bailed out by the government and they themselves find the trying times they claim to all of us landing hard and permanently on their own doorstep. Once this is resolved, I will never do business with Chase again. I was told by their customer service rep, that they were doing this because they weren't making enough money off of me. Please put me on any list against what Chase Credit Cards is doing to their customers.
Thanks for your vote!
BillMurrells Inlet, SC
Reviewed Jan. 22, 2009
We have had 4 credit cards with Chase Bank for over 5 years now with an average "lifetime" teaser rate of 3.99 and/or 2.99 percent. We have never missed a payment and had planned on paying them all off (40,000) within the next 7 years based on the 2% monthly payments. I just saw where the monthly minimum payments have gone from 2% to 5% with a new $120 yearly fee. I called and talked with Chase, and was told that we had been notified by a separate letter. This is not true. As a result of this change, to meet our minimum payments, we must pay $2000 per month rather than $700 (in addition to the monthly transaction fee of $10). I was also told that we could go back to the 2% payment schedule and eliminate the $120 yearly fee if we agreed to accept the new and high APR of 7.99% a year. We always knew they could do this if they "wanted to do so" but still didn't think they would do it. What happened to the billions they were given (they sure aren't doing anything to benefit the consumers or their customers)
Thanks for your vote!
MyrnaStuart, FL
Reviewed Jan. 22, 2009
I received a notice that Chase was changing the terms of our agreement as follows:
1. Fixed rate of 9.99% no longer applies to existing and current purchases
Thanks for your vote!
CMiami, FL
Reviewed Jan. 22, 2009
Hey guess what? They took my washington mutual credit card that I've had for 10 years....and.... notified me AFTER they closed the account, it had a 0 balance. They sent a notice saying they were increasing my interest from 3.99 to 12.99% and I could opt out if i sent a letter by Feb 20th. Guess what ? I sent a letter opting out of all my accounts to be closed immediately and to keep the rate i have...But..... guess what? The fed can give chase billions I'm giving myself thousands...I'm not paying them another cent...because 1 default on your credit report is not going to ruin your credit I KNOW THIS FOR A FACT. And I WILL NOT BE ABUSED BY A BANK AGAIN!
Thanks for your vote!
NanciBethel Park, PA
Reviewed Jan. 22, 2009
Chase raised their minimum payment on my 3.99 (life of loan) from 2% to 5%. This resulted in a significant increase in my payment. I have a good credit score, have always paid all my bills on time and have not defaulted on any loans. Just your average American trying to do the right thing while my own money is being used to bail out of these banks. Instead of being consumer friendly they are trying to cause me to default on my loan. Sure they want to get rid of my 3.99%. I would not have taken out this balance transfer had I known at that time they would change the terms of our agreement. It was 2% when I took out the transfer and it should remain that until I pay off the balance. How are these banks getting away with this. They would not agree to lowering the rate - only to giving me a higher interest rate with a lower min -- more money in their pocket. Maybe we should just all default on our loans and screw them. Why is it so easy for these banks to change the terms of their initial agreements.
Thanks for your vote!
GregoryMoscow, ID
Reviewed Jan. 22, 2009
Just like many of you, I have been through hell with Chase recently. I have two accounts, both fitting the pattern seen here:
1.I have low 'fixed' rates, guaranteed not to go up for the life of the transferred balance (2.99-4.99%)
2.Excellent customer...maybe 50% of credit line, never ever ever late, no bad marks on any credit report.
3. BOOM! Chase adds a 10.00 per month service charge. (that's a $120.00 per year membership fee!)
4. BOOM! Chase decides to increase the percentage due per month by 250%...MORE than DOUBLING my monthly payments.
5. OH HAPPY DAYS! Chase will 'let me' out of this horrible position, IF I will upgrade to a higher interest rate (7.99)...for 2 years only, then the skies the limit!
Wow. This is a crime folks. You know it and I know it...this just isn't right. They have used Bait and Switch and THEN, when you complain, they follow that up with blackmail, to try and move you to an account which will be more profitable for Chase.
Fight Back...I am! I love what this guy has to say on a couple of these pages...check it out for ways to fight back. Includes some good advice and addresses...
http://www.bcsalliance.com/x_creditcardtricks_a.html
Thanks for your vote!
MichaelMahtomedi, MN
Reviewed Jan. 22, 2009
Fixed 3.99% rate on balance transfers with 2% minimum payment was changed to 5% minimum payment plus a $10 account maintenance fee. I have been on-time with all my payments and my risk by my credit score has not changed much.
Thanks for your vote!
GaryProsspect Heights, IL
Reviewed Jan. 22, 2009
My wife and I have 3 Chase cards that we accepted an offer for a fixed low percentage interest rate until balance is paid off. We accepted these offers in 2006 and have made all min. payments on time since then. As of our January 2009 statements they are adding a $10.00 per month fee per account, and raising our min. monthly payment on all three from $ 544.00 to $ 1365.00. We need help.
Thanks for your vote!
GaryProspect Heights, IL
Reviewed Jan. 22, 2009
My wife and I have 3 Chase cards that we accepted an offer for a fixed low percentage interest rate until balance is paid off. We accepted these offers in 2006 and have made all min. payments on time since then. As of our January 2009 statements they are adding a $10.00 per month fee per account, and raising our min. monthly payment on all three from $ 544.00 to $ 1365.00. We need help.
Thanks for your vote!
LarryWilkinson, IN
Reviewed Jan. 22, 2009
They got me too, My 2.99% loan is costing me more monthly plus that $10.00 fee. Lets everyone e-mail your senators, representatives and the attorney general in your state. If we all work together we got a real chance to change things.
Thanks for your vote!
TamaraMinden, NV
Reviewed Jan. 22, 2009
Like all of the people on your thread I am outraged by the ILLEGAL ACTION OF CHASE CREDIT CARD. Due to my perfect credit ratings, I was sent a promotional offers of 3.99% by Chase Credit card in 2006 & 2007
Thanks for your vote!
JenniferMckinney, TX
Reviewed Jan. 22, 2009
I thought maybe it was just me who was in shock when I realized Chase Bank changed my credit card terms and added a monthly service fee to my credit card account. Seems I am not the only one. It is unbelievable that a so called reputable financial institution can do this. I have NEVER paid late or gone over the limit and I entered into an agreement with them when I transferred my balance to their card at 3.99%.. Now they bumped my rate up over 5%, are tripling my minimum payment and adding a $10 fee. When I called they said they sent notice of the changes back in November and that there were no other options...this is just what they are doing now.
Fortunately we are financially able to handle the situation but I am so sad for all the people barely struggling to make ends meet and keep their credit in line. It seems like Chase is just trying to get their final dig in before the government regulations go into affect. This just infuriates me and I will NEVER bank with Chase in any capacity ever if I can help it.
I don't every send these kind of emails or do this type of thing but this really, really makes me mad!!! THis is what I get for having excellent credit, paying my bills on time, not taking out a ridiculous mortgage, working hard to support my family and making every attempt to pay the debts I owe. I guess no one is safe these days!!!
Jennifer Ontivers
Thanks for your vote!
AngelaMount Holly, NC
Reviewed Jan. 22, 2009
Like many others, I have credit cards with Chase where the interest was supposed to be for the life of the loan. I received my bill today and the minimum payment more than doubled from last month and a $10.00 service charge was added to my monthly bill. When I called to ask why, the Chase customer service rep informed me the terms of the contract had changed due to the current financial crisis and the intent is to help customers pay off their card early. If I want to keep my promotional rate, I will have to pay a higher percentage of my minimum balance as well as a $10.00 monthly fee. These actions by Chase should be illegal. If a class action suit is filed, count me in.
Thanks for your vote!
ScottGrand Island, NE
Reviewed Jan. 22, 2009
I had used a credit card check to take advantage of a FIXED 3.99 percent rate for the life of the loan. A $10.00 service charge per statement has been addded that is not a fee or an increase in interest rate. It bring my effective interest rate from fixed 3.99 percent to 7.37. I don't agree to these terms and offered to close account and continue on old terms. Pearl at Chase said I don't have that option. We entered into an agreement and now they want to not honor it.
Thanks for your vote!
JamesTujunga, CA
Reviewed Jan. 22, 2009
My most recent correspondence to Chase on 1/21/09:
Chase
Re. -0480
Due to your deceptive, dishonorable, underhanded and disreputable business practice and under ardent protest and undue, unfair duress I reluctantly choose Option #2 at 7.99% APR till 1/1/2011 (more deceit as you deliberately fail to tell me what happens after that date or does it even matter since you have no honor to respect what you say anyway) and 2% minimum payments and no $10 maintenance charge.
I’m particularly suspicious of your mandate that “there is no Opt Out Option�… my preference regarding this matter… to reject your modifications, close my account and pay my balance under the original terms. I request a complete set of all the terms and conditions regarding this account.
I’m filing a complaint with the Federal Reserve, but that’s another bad joke on consumers and businesses. I’ve read hundreds of online complaints against Chase similar to mine (excellent credit and payment history, phony notification claims by Chase and account holders that just don’t make any mistakes so you could have already increased their interest APR like mine at 3.99% “for the life of the balance�… pathetic) and I hope to see lawsuits against you followed by your demise and closure. My utmost preference would be that all of us band together, default and cease all payments… we could then maybe speed up your demise… but that idea is flawed because you are attacking responsible people that value their good credit.
I have two more low interest Chase accounts including a business account, both you have not changed… or maybe you have but again I don’t know it… it will show up on my statement and you’ll tell me how you sent notification a month, or two, or three, ago… I reject any modifications and choose to Opt Out under the original terms… but you’ll tell me that is not within my rights. I request a complete set of all the terms and conditions regarding these other two accounts. I’d love to totally default and cease all payments and close all accounts, but I’m not in that position… yet; keep screwing your good customers (I don’t know why I consider myself a good customer when you obviously don’t) and you’ll put us in that position. I now understand your business philosophy that 100% on time payments only equates to no increased interest and late charges for you, thus a bad customer. Your promotional checks are no more than a “bait and hook tactic� hoping that the customer will make a payment mistake so you can increase the interest… not to mention the exorbitant upfront transaction fee for the privilege of writing such a check… and if they don’t default to a higher interest within a certain timeframe you “modify� the terms anyway… gotcha no matter what! I’ll never use Chase again; in fact I will publicize my experience with you.
Thanks for your vote!
PhilipZephyrhills, FL
Reviewed Jan. 22, 2009
Was informed by Chase of a change in policy in order to increase their margin of profitability. My card which I have held since 2004 is having the interest rate raised 4% from 9.99 to 13.99 becoming effective on the 1st of March. My payments are always on time.
Thanks for your vote!
MelissaAurora, MO
Reviewed Jan. 21, 2009
I have the same complaints regarding Chase as the other customers. Two cards. Loyal customer. 3.9% interest rate locked in. All of sudden get hit with a monthly $10 Finance Service Charge plus more than double the monthly minimum payment. Is this legal? When you get to the nitty gritty of it, possibly yes. Is it ethical? Absolutely not. Fortunately I had means to pay the cards off, but I feel for those who can't. I can assure Chase I will NEVER EVER do business with them again and I will do everything in my power to warn other potential customers to steer clear. I hope in the near future I'm sitting on a beach somewhere drinking a martini when I hear of Chase's demise. They'll deseve it.
Thanks for your vote!
ScottCoronado, CA
Reviewed Jan. 21, 2009
By reading many of the other complaints it looks like this firm has been burning MANY of its clients and customers. I was offered a credit card at an introductory rate of 0% interest and 6.99% after the introductory period. My payment date was the 23rd of each month. I then made a payment on 7/10/08 for that statement. Then to be proactive I made a payment on 7/30/08 for the next statement. But no, Chase would prefer to put that payment on the previous statement because the new one had not 'generated' until 8/2/08. I was then late and my APR was pushed to 6.99% Little did I know that my email statements had 'allegedly' been getting kicked back to Chase so I had not been notified... I have thus far paid over $1000 in unnecessary interest charges because they were taking every advantage they could to screw me. I then decided to argue these charges and close my account. After being bounced around every phone department for over an hour and a half they decided to close my account (I told them not to if it would PREVENT them from making any changes to the fees... they did so anyways) And the next day they said I had to pay everything in full because my account was closed and there is nothing they could do. I am so furious with their whole attitude and business process. I am going to put some effort to take them to small claims court (but I am not sure what it says in the small print of the documents I signed, I am probably screwed) I will never ever bank with them again and will tell as many people as I can how badly they treat their customers.
Thanks for your vote!
JosephRowlett, TX
Reviewed Jan. 21, 2009
Like many others, Chase started to add a $10 transaction fee to my old balance transfer. They did not increase a fee - they added a fee. What is stopping Chase from adding another $10 to that fee. What legal basis do they have to modify the contract and add any fee at their convenience.
Thanks for your vote!
DavidLittleton, CO
Reviewed Jan. 21, 2009
Seems I am in the same boat as a lot of other people. I have a Chase Platinum card that had a fixed rate of 9.9%. I just recieved a notice that they will be raising my rate up to 13.99%. I have bank with chase for severl years, they have my checking, savings, 1st and 2nd mortage, a business credit card and also a circuit city card (with 3.99%). I have been a loyale customer and have referred friends to this bank, I have excellent credit and have always kept my end of the bargain. It is to bad they can do this legally and with no more reason then to stay profitable in todays economy. GIVE ME A BREAK!! I am worried about my other accounts with them and am now waiting for more letters from chase that they will be changing the terms of my other accounts. I am luck to belong to a credit union that is willing to do free transfers and give me a 9.90% rate. The funny thing is that the banks are the reason our economy is falling apart and here they go making it worse. I say pull all your money from chase and let them tumble into oblivion. I would doubt that they will be bailed out a second time, lets hope not any way. thanks for listening
Thanks for your vote!
ElizabethOxnard, CA
Reviewed Jan. 21, 2009
I received an offer for a loan on my Chase credit card about two and a half years ago, and through that offer borrowed money at a low interest rate (3.99%), guaranteed for the life of the loan. I have an excellent credit rating, and have never made a late payment.
Yesterday, I found out that they have pushed my minimum payment from 2% to 5%, and added a monthly service charge of $10, just for having the card. This $10 fee is set at a 8.99% interest rate.
I talked to a Chase customer service representative, and was told that if I didn't like this, my only other option would be to agree to my interest rate being increased from 3.99% to 7.99%, with that rate guaranteed only until January of 2011. I was told that I had been sent notification of this change with my November statement (which I was then able to locate. It was on a small slip of paper of the same size and shape as the advertisements -- deliberately, I would say, made so it would not be readily noticed).
The customer service representative told me she had been on the phone all day with customers who were irate about this -- so clearly many people are affected. It seems clear that they are trying to coerce me, and others, into accepting terms that are much more to their advantage than are the terms of the original agreement.
The question is, is the means by which they are applying this pressure legal? Can they change the minimum payment whenever they like? Can they just wantonly apply whatever fees they feel like applying?
Is this what the American people lent them twenty-five billion dollars for? I understand they used part of that money to award their executives millions of dollars in bonuses!
I wish I knew whether I had some recourse in the law. I have read that they are refusing to let people opt out, close their accounts, and continue paying under the original agreement. I fear that if I try to pay at the 5% + $10-a-month rate, I will fail, and see my rate jump to 29.99% -- but if I accept their offer to switch to the other plan, my rate will certainly skyrocket at the end of two years.
In short, I fear they will push me, and many others, into bankruptcy. I would love to participate in a class-action suit against them -- but it won't do me much good if I've gone bankrupt first.
Thanks for your vote!
BenOmaha, NE
Reviewed Jan. 21, 2009
After years of having a 5.99 rate with Chase, they upped the payment from 2 percent to 5 percent and are tacking on a $10.00 per month service charge. They claim they can do this because the fee does not change the interest rate. Call it want you want, I met my obligations with them and it is not my fault that they cannot honor their agreement.
Thanks for your vote!
MarkClementon, NJ
Reviewed Jan. 21, 2009
For close to 25 years, I have had 2 (now JPMorgan) Chase Credit cards in execellent standing. Up until roughly 4 years ago, I had no balances left on either of these cards, and received solicitation from Chase for both of my accounts, at a 3.99% fixed rate for the life of the loan balance. I transfered balances from other creditors to both of my Chase Accounts, and paid a % fee for each transaction at the time I negotiated their promotional checks. The terms of my credit account whereas minimum monthly payments are concerned, were set at a rate of 2% of the balance due monthly, from the initiation of my accounts 20+yrs ago. The 3.99% promotional/life-of-the-loan rate was insured to me as long as I made a minimum payment and was never late on any payments. I have never been late in the few years I have been paying these accounts down. Now Chase has instituted a $10/month transaction fee per each account at the rate of 6.99% interest, which will accumulate each month, until the lower rate for prior balance transfers is paid off first. In addition, they have changed my minimum monthly payment due from the original 2% I agreed on (and thought was a fair, budgetable, affordable amount) to 5% due montly, in addition to the $10/monthly transaction fee. I called Chase several times to remedy this situation, and was told I have the following 3 options: Pay the account off in full and close it; continue to receive my guaranteed 3.99% rate while enjoining a monthly transaction fee of an additional $10 at a rate of 6.99% interest, while having my minimum monthly payment now be 5% due instead of 2%; or to switch both of my accounts over to a new account w/ a rate of 7.99% interest, which negates the 3.99% I have budgeted for their so-called solicitory promotional fee. I have prided myself on a perfect credit history for the past 25 years w/ all of my creditors. However, this increase and additional fee is enough to bust my budget entirely. This is the thanks you get for being a dedicated, good paying customer and using your credit responsibly??? Any attorneys out there who are serious in filing a Class Action Lawsuit for Breach of Contract against Chase, please contact me! I'm onboard 100%, and have all the time on my hands necessary to assist in any way possible to right this wrong! IAMABENZBOY@AOL.COM. Thank you.
Thanks for your vote!
OscarChristiansburg, VA
Reviewed Jan. 21, 2009
Increased my agreed terms of 3.9% and more than doubled my payment. When I called they were very arrogant and matter of fact. They said they could do whatever they wanted and that includes increase my min payment and rate. This was suppose to be 3.99 % for the life of the balance. I have the originial document stating that. I have never been late on my CC payment.
Thanks for your vote!
MariettaColonie, NY
Reviewed Jan. 21, 2009
I have been a Chase credit card holder for many many years with a $20,000
limit. I never really carried much of a balance on my card, always had it
paid off.
I was an executive with a hefty salary. I lost my job October 2007.
Unfortunately for me, I had just run my card up to its limit doing a large
home renovation ($ 21,000 due). Rather than filing for bankrupcy or
screwing Chase out of any owed funds, I used my savings and cashed out my
retirement and by Oct. 2008 paid off the entire balance. My final payment
of the balance due was 3 days late. (By that time, I had been out of work 12 months, unemployment had run out and all my savings were gone. I borrowed the last payment from my 23 year old daughter.)
Because my final $130.00 payment was 3 days late...... I was charged a late
fee...... My balance was paid off, the account was closed, BUT now I owed a late fee plus interest. I called customer service and was told too bad I
was 3 days late. I explained I did not have ANY money to pay this that I had been out of work for 13 months and was honorable enough to pay off $21,000 dollors while
unemployed could they PLEASE wipe out this small late fee before it snowballs. No such luck! The next
month... another late fee plus interest.... another phone call... and the snowball just keeps rolling downhill getting bigger......
Do you think in a time of recession when people lose their jobs and pay off
their balances that they could possibly waive late fees and interest when the accounts have been paid off?
Thanks for your vote!
JohnPhiladelphia, PA
Reviewed Jan. 21, 2009
Chase Bank $10.00 monthly service charges.
Anyone else who has this problem.
There is a NY law firm looking into this issue. On their site, on the bottom left, there is a link where you can provide your input. there is a need for a class action suite on this issue. http://www.gslawny.com/lawyer-attorney-1280970.html
Thanks for your vote!
MariMiami, FL
Reviewed Jan. 21, 2009
I Sent my payment 10 day prior to the due date. When I recived ny statement I was charged $ 39.00 pulse fincance charge for the late fee. I only owed $ 10.98. This brought my bill to $66.57. I called to compaint, I have excellent credit I alway pay on time. I've been their customer for about 10 years. When I called customer service they did't care. I explaine that I did not have control over the post office, I could not control the holidays. They just didn't care. Once I stated that I wanted to close my account, they offered a reduction of $20.00 from the late fee's. I request what was my balance I now was advised $ 46.57. I then request to close my account Jeremey stated that then he could not apply the $ 20.00 reduction. I requested a supervisor, for what I don' know, that led no where. I closed my account an took the hit for the late fee's, but I will not be taken but this company anymore. Add me to the class Action Suit if file
Thanks for your vote!
DavidWixom, MI
Reviewed Jan. 21, 2009
Like many others I have been with Chase for 10 or more years. I had an exsisting balance at a lifetime rate of %3.99 percent. In November I needed to repair my home. Chase offered a cash option at 4.99% for life. I talked about this with a customer rep at that time and was assured that my existing amount would retain the 3.99% and both amounts would have minimum pmts of 2% of the balance. My credit is great, never missed a pmt and generally exceeded the minimum in an effort to get out of debt. Today I received my new minimum pmt of $753, up about $430 a month from last months billing. I called and got the same story as the rest; 7.99% to retain my previous offer/agreement or sorry. I know that it is great to be done in 21 months but I agreed to their terms before based on no income growth and two kids in college. I'm furious at the unfairness of this in my opinion since I would do everything possible to honor my agreement and have given NO cause for them to suspect otherwise. Now due to greed they set my micro economic world on a precarious edge. I would have thought that the bailout money from my taxes was going to help the banking industry with their issues but apparently my understanding is flawed in this regard.
While I'm on the subject of Chase Bank I was disappointed to find that Chase charged my son 9.1% for his 07-08 school loan. He works as a part time cook and had enough years at the job that he didn't need a cosigner so I was unaware of this tremendous burden of interest until much later reviewing his papers.
Thanks for your vote!
HenryPlacentia, CA
Reviewed Jan. 21, 2009
I received a notice that my current Chase Credit Card rate is being increased for market conditions to an outrageous 18.99% over prime. I called and spoke to their customer service group and they stated that there is nothing I can do about it but elect to close my account. I am concerned that in this economic climate that a large financial company recieving government aide can elect to increase a good standing account by 7% points overnight.
Thanks for your vote!
AdamFort Worth, TX
Reviewed Jan. 21, 2009
Chase added an additional $10 to my credit card as a transaction fee under their Purchases category at at rate of 6.99%. Despite never agreeing to this rate or transaction fee, which Chase unilaterally and arbitrarily placed onto my account.
Thanks for your vote!
MarianneMoriarty, NM
Reviewed Jan. 20, 2009
We have two Chase credit cards that are now showing the $10 fee and minimum payment increased from 2% to 5%, which we cannot pay. Called Chase and a representative said she could change it back to 2% and she would send a confirmation letter. I asked her if I should close the account but she said not to, to wait for the letter. When it came, it showed the new deal, increased rate good for two years, then market rate. That would never work for us because we would still owe enough for it to break us. Then another letter arrived, setting the minimum pay back to 5% on one of the cards with no mention of the interest rate. I called Chase again and told them I did not accept the new deal, that I had not been told the terms, and the woman said their records showed that I had accepted it. They will listen to the tape and get back to me. It hardly matters though, neither way will work in the long run.
Thanks for your vote!
CarolThomasville, GA
Reviewed Jan. 20, 2009
Chase now charging 5% of balance as minimum payment compared to 2% of the balance for the minimum payment, resulting in close to $1100.00 for 3 of their cards. Called Corporate Headquarters moments ago and they said, they will NOT change the new policy. When I had the option to choose Chase or another competitor in the past, I selected Chase thinking my 3.99% Fixed For The Life Of The Loan would hold up. Never a late payment, always paid more than minimum due. Representative said to me "Not profitable for Chase" to continue offering the low interest rate. I also have my mortgage with Chase. I will find another credit card company and mortgage company that is loyal to their customers.
Thanks for your vote!
CarySt Louis, MO
Reviewed Jan. 20, 2009
I have a Chase Circuit City Credit card, I have in the past went to my Circuit city store and made a payment on the due date and escaped a late fee in the past
(since payment was made on due date at a circuit city store as per the terms) All of a sudden though, I make a payment on the due date, just get my statement for this month and low n behold, a late fee! $35!!!
When I called Chase and said hold on here, in the past this has never been an issue, I have the receipt of my payment, made on the due date, I'm told Circuit city didn't pay it till the 6th. that's that
I'm sorry but this is just wrong, Anything for a Dollar or $35!
Thanks for your vote!
LaurenceNorthborough, MA
Reviewed Jan. 20, 2009
Like many of the post I also used fixed rate checks of 3.99 or 4.99 until paid in full. In my Jan 09 statement I was charged a $10 service fee and the minimum payment was increased substantially. I called Chase and was told I was sent a letter explaining my options (never received said letter)and this is the way it is. Having been a Chase customer for many years I find this treatment of their customers unethical at the very least.
Thanks for your vote!
SandraCarrollton, OH
Reviewed Jan. 20, 2009
I, too, am a victim of the current Chase MasterCard minimum payment change. My "fixed for the life of the loan" low interest rate balance transfer with the 2% minimum monthly payment requirement has suddenly turned into a 5% per month nightmare. On top of the 249% increase in my monthly payment they also are charging me a $10 monthly service charge.
They say that they notified me of these changes back in my November statement envelope by including a "flyer". Having this statement in my hand, I see that there is no mention of these changes on the actual statement itself where I would have read it. Chase chose to treat these major changes as unimportantly as the garbage "flyers" for fake jemstone jewelry and overpriced car insurance that they typically include in their statement envelopes. I asked them two weeks ago to resend me that "flyer" in a separate envelope but have not received it yet. Did that "flyer" ever actually exist? Who knows.
They have offered the same deal to me as everyone else. Raise my low interest rate up to 7.99% until Feb. 2011 to keep my 2% monthly minimum payment requirement for now.
I have done nothing wrong to initiate these changes to my account.
SHAME ON YOU CHASE.
Thanks for your vote!
MaryannDover, NJ
Reviewed Jan. 20, 2009
I sent out my payment on time as usual back in January of 2008. Well, the check never showed so they raised my interest rate to 27.99 and my monthly payment is now $168.00. I called and they said because I was late they would not lower it until I made some payments on time. Well, I just called them and Lee .C. (refused to give me his last name) said that I was late in July so I have to pay these fees. I was willing to work with them but they refused. I have had this card for years and I dont believe I was late in July at all. I was very careful in making sure I was on time. I don't understand HOW they can get away with this.
Thanks for your vote!
OrlySanta Fe, NM
Reviewed Jan. 20, 2009
Same complaint as hundreds of other responders here. I have a Chase outstanding balance transfer with a fixed interest rate until the transfer is paid off, with a 2 percent minimum payment per month, and with no annual or monthly fees. I have never made a late payment, and have a FICO score of over 800. I have always lived up to the terms that Chase and I took on when I agreed to do this balance transfer offer.
Chase apparently decided to change the terms underlying this account to a minimum payment per month of 5 percent, and a monthly $10 "fee," which they are treating as a finance charge that accrues interest at whatever market rate they decide.
When anyone subject to these changes in terms calls Chase and complains, we are all told that if we can't afford the new terms, all we have to do is agree to a 250 percent increase in the interest rate (in my case from 2.9 percent to 7.9 percent), and then we'll be able to continue to pay a minimum monthly payment of 2 percent with no monthly "fee." Or we we don't agree, we can "opt-out" by retiring the entire balance within 30 days.
There are a few problems here.
First, Chase went out of their way to NOT inform cardmembers about their proposed changes. The internet is absolutely full of people who only found out about this with their January statements, even though there is a minimum 15 day period determined by statute in which cardmembers are to be informed. Chase sends out all sorts of notices about trivial things to cardmembers, and that they did not bother to do so on this major issue seems absolutely intentional.
Also, Chase customer service staff have obviously been instructed to lie about having sent out those changes in terms letters. I spoke to 5 Chase customer service reps about this. Four of them pretended to look up the exact date when the alleged letter was sent to me, and FOUR CHASE CUSTOMER SERVICE REPS GAVE ME DIFFERENT MAILING DATES! The fifth Chase customer service rep was honest enough to say that Chase did NOT send out change in terms letters to cardmembers who get their statements electronically. Apparently, Chase did bury this change in some boilerplate that went out with its November 2008 statements--people who receive statements electronically have no need to look at the monthly statement PDF's, and Chase, of course, would have been aware of that.
So why would Chase have gone out of their way NOT to inform cardmembers about this change in terms? I would guess that they did this to make it as difficult as possible for cardmembers to be able to stay with their low balance transfer rate by coming up with the means to pay their now 250 percent higher minimum monthly payments. I mean, introducing this change right after the holidays during the most serious economic decline in the past 50 years.......if cardmembers had more notice, many more might have scaled back their holiday purchases or something in order to better be able to pay these vastly increased minimum monthly payments.
It's worth noting that even though the OCC has been pushing credit card issuers to increase the minimum monthly payments, that Chase is raising minimum monthly payments ONLY on those of us who have allegedly fixed low balance transfer rates. If you are willing to pay more interest, Chase is willing to leave you at a low 2 percent minimum monthly payment. So this whole issue is Chase being greedy, not being forced to do anything by the OCC.
The other issue: I had understood that cardmembers are required to be offered the option of opting out of changes in terms, which would then cause their cards to be closed to future purchases, but that any outstanding balance would continue to be subject to the original terms. Chase didn't offer this to cardmembers affected by the proposed change in terms.
The bottom line here: Chase allegedly received $25 billion in taxpayer funded bail out funds. Other banks are going out of their way to work with their customers during these trying economic times, while Chase is going out of their way to make their customers' financial lives as difficult as possible, and to attempt to extort those customers into being forced to accept much higher interest rates on balances tranfer offers that Chase marketed as being fixed interest for life.
This type of predatory and abusive lending practices directed at even the most credit worthy customers who have never missed a bill payment, suggests that the credit card business is nothing more than a thinly veiled loan sharking operation, and needs to be heavily regulated by the federal government.
Thanks for your vote!
SandyNewnan, GA
Reviewed Jan. 20, 2009
My story is the same...Chase. I have paid my bill on time & always more than the minimum but because I am not using the card & am paying interest rate of 3.99 & 4.99 on balance for lifetime of loan, they want more! They claimed to have notified me by mail in Nov. but I never received anything.
They increased payment from 2% to 5% & charge a $10.00 monthly fee.
Thanks for your vote!
KimBuckeye, AZ
Reviewed Jan. 20, 2009
I have had my Chase credit card since 2005. I, like many others, was attracted by the 3.9% fixed rate for the life of the balance transfer. I have ALWAYS paid on time, and have even paid above the minimum due. Chase now has increased my minimum due 3X as well as charge that ridiculous $10 service fee (what service?). It is like a broken record when I call the customer service reps. All they say is that "they can't do anything, that's what Chase has decided based on my account history"--a history that has no blemishes. Furthermore, they go on to say "well, you can transfer that balance to a higher rate of 7.9% and we'll put your minimum back to 2% of the balance." I ask them why would I transfer to a 7.9% rate and prolong my debt? I accepted the terms of 3.9% for THE LIFE OF THE BALANCE!!! At which point, there is only silence on the so called customer service rep. phone line. We have been keeping up our end of the contract and paying everything on time. We have not let our home go into foreclosure, we refuse to go into bankruptcy. BUT I have 2 young children, my husband is facing lay-off, and with this in-humane act that Chase has done (to millions I am sure) my family may not have a home and we may have to file bankruptcy. So Chase, would you rather work with your customer who has never been late on payments, never gone over the limit...or would you rather stuff your "bail-out" money in your waist-coats and let good customers struggle into bankruptcy so that you end up not getting a cent anyways?
Thanks for your vote!
PatriciaLexington, OH
Reviewed Jan. 20, 2009
I have been a loyal customer of Chase for several years. They offered me a 3.99% for the life of the loan if I transferred my balances to them. They are the ones who kept sending me offers to accept their great low interest rate deal.
I have three 3.99% loans with Chase. I have an excellent credit score and I have alway paid on time, never late and have always paid extra on each of the three loans. Now they are charging me a $10 service fee per loan every month till paid in full and they have upped my payment on each loan from 2% of the balance to 5% of the balance. This is detrimental for me and it sure is a great way for them to thank me for being a loyal customer and always honoring my end of the deal with them, to have them renege on their end of the deal. This should be illegal. They getted bailed out with out taxpaying dollars and then slam us with $10 service fees and raising our payments excessively not to mention lowering our credit limits so as to put us below the limit so that they can ruin out excellent credit score. Nothing like thanking your customers by totally crapping on them.
Thanks for your vote!
JamesMemphis, TN
Reviewed Jan. 20, 2009
Add me to the list of customers that have been shafted by Chase on the interest for life credit. Same as everyone else. It may be legal, but it is immoral to not honor commitments made.
Thanks for your vote!
EddisonMineola, NY
Reviewed Jan. 20, 2009
Like many others before me, Chase started to add a $10 transaction fee to old balance transfer.
Thanks for your vote!
SusanPenn Valley, CA
Reviewed Jan. 20, 2009
I GOT MY MONTHLY RATES JACKED UP TO 800 PER MONTH AND DOUBLED MY INTEREST RATES ALSO
Thanks for your vote!
JeffKissimmee, FL
Reviewed Jan. 20, 2009
I have used the checks that were sent to me saying, 4.9 percent for the life of the loan. My February bill is now asking for a minimum payment of $975.00 which is more than double my previous minimum. When I called to ask why, They said they decided to change the terms of the loan. If I want to keep my promotional rate, I will have to pay a higher percentage of my minimum balance as well as a monthly fee.
Thanks for your vote!
MaarySanta Ana, CA
Reviewed Jan. 19, 2009
Like others here chase refuses to honer the life of loan agreement and without notice is raising my 100 and 200 payment to 650 and 230 ish. aand ading a $10 fee to a free card. historacaly you could close an anount and the prior agreement would be honored and though this changes the effective anual intrest rate aganinst out life of loan agreement and will cost me becouse i am losing the reat very fast at the high repayment rate they claim it is legal. I agree boycot chase but first i am going to figure the los and go to small claims court. please contact state atourney in your state if this breach of contract is hurting you too. cnatact preaa and consumer afairs groups. any Ralf nader type heros out there willing to challange the change of interest bu the added fee they will not let me close the acount and keep the terms of our origonal interest by removing the 10 fee. or keeep the terms. they are changing to %5 just for thoes they have promiced life of loan agreements to. they told me becouse it was a low rate like all I have never been late. They own washington Mutual now so if you must serve where they do not have a Chase they do business as washington mutual here in california and I intend to serve them there. contact your political representavies and tell all you can what chase is doing. They agreed to to an interest rate for the life of the loan and adding a fee without alowing me to opt out is changing my rate and breaking my contract. and I am losing the rate they promiced by the extra 650 ish a month payment. such crooks. never have I heard of any bank in the US being so crooked promicing life of loan and raising the rate by ading a fee without alowing me to close and opt out and keep my origonal terms. I asked and they said no. they try to extort a 7.9 rate to get out of the fee. I do not want the new terms I want them just to honor our old terms and let me finish paying as agreed with closed acounts or open acounts there choice. and they are refusing. and I recieved so notice.thoes with low rates promiced are being singeled out. so unfair. I hope this is tried to see if it is legat as it is so abusive I hope this country has not come to that. our tax dollars going to them they can borrow for nothing and they break our contract. has this country comre to alowing this. I will be geting out of wamy this week and trying to remidy the loses caused to me by this unfair I believe breach of contract change.
Thanks for your vote!
TomLaguna Beach, CA
Reviewed Jan. 19, 2009
3 years ago, I took advantage of an offer by Chase for 3.99% for the life of the balance. I have never used that card since opening the account, have continually paid more than the minimum and have never been late paying. This month, they arbitrarily changed the terms of the agreement. I am outraged. Unlike other credit card use, this was an agreement whereby they indicated they would honor 3.99% for the life of the balance. I've never added to it and been and exemplary customer. It was never told to me that they could change the contract. I understand that revolving credit works that way: They can change the terms at any time, but this was a specfic agreement/offer made by them to extend 3.99% for the life of the loan. Are their arbitrary changes legal? My wife and I called, and were told a few things: They could do anything they want, they are the card company. They are entitled to change the terms at any time they wish, there was nothing we could do about it, they wanted to remain competitive in this environment, we could either accept the terms or close the account and be moved to a 7.99% rate on the remaining balance. They tried very hard to get us to agree to a change in terms, we did not. They should not be able to offer a term of 3.99% for the life of the balance if they are then able to change the terms at will....
Thanks for your vote!
KathyHerkimer, NY
Reviewed Jan. 19, 2009
Chase has arbitrarily raised my credit card rate from 7.99 to 11.99 beginning March 2009. I have never been late, always pay more than the minimum and am not over my credit limit or even close to it. They say they are doing this to maintain profitability on the account. Wasn't the 25 billion dollar bailout enough for them? What a bunch of greedy, corporate, money-loving fat cats they turned out to be. Needless to say I closed my account with them and advise others to do the same. Banks like that should be allowed to fail if they can't manage their funds properly and keep screwing over the little guys (and gals) like me and you.
Thanks for your vote!
StephenSuwanee, GA
Reviewed Jan. 19, 2009
over a year ago, i did a balance transfer, paid a fee to do it, agreed to 3.9% rate, and mim pay of 2% of my balance for the length of the balance. Now, I receive notice they are increasing my mim payment to 5% of my balance and imposing a $10.00 monthly service fee. And the fee is a transaction posted subject to a higher rate of interest. When calling the customer NO service department, I am told if you dont like it, close your account. I have nver been late, and most of the time, I paid more than the mim pay required. Chase Serv. rep, for a slight increase in rate, i could return to 2% monthly payments. Yea, I want to change from 3.9 to 7.9. Some loyality there.
Thanks for your vote!
WilliamOmaha, NE
Reviewed Jan. 19, 2009
We too have been traumatically affected by Chases current decision to raise our payment schedule from 2% to 5% even though we have made every single payment on time. Our entire account are fixed rate balance transfers offered at a fixed rate for the balance of the loan (3 @ 3.99 and 1 @ 5.99). We feel like Chase has become a loan shark business as they show on television -- accept a higher rate of 7.99% supposedly until 2010 when, if they raise their rate again before the new law goes into effect, which we were told would be prime plus ????. We feel like this is extortion because if we accept the new interest rate they will leave our payments at the 2% they are now. How can this be??? Would this not be considered extortion if it was done by anyone other than a large conglomerate???
Then to add insult to injury our no fee? card has also been changed to add a $10.00 month fee for God knows what for. There is no explanation on the statement except SERVICE CHARGE*FINANCE CHARGE*?.
We have been keeping up with what we agreed when accepting the balance transfers but, this will put an extreme burden on our monthly budget. We are going to try to keep up but we also have two other Chase credit cards -- one with low supposedly fixed rate agreements and one at regular interest. We have also heard that Chase has also acquired Citi cards probably so they can do the same thing to those customers. We will try to keep up because we have an excellent credit rating and would hate to lose it, but feel we may be forced into claiming bankruptcy.
Also if we read the other letters on your site right, Chase has requested a huge bailout. Who is going to bail us out. Even if a class action suit was to be filed the consumers have already been hurt by having to file for bankruptcy and would probably never see a cent from the suit.
There is no way of winning this situation. What good is it going to do Chase if they force possibly 50% or more of their customers into bankruptcy? I am sure the bankruptcy settlements will in no way make up the difference in the amount of those making the 2% payments consistently on existing loans.
Is there no way Chase can be stopped?
Thanks for your vote!
TonyHarrington, DE
Reviewed Jan. 19, 2009
This is my wifes credit card account,1191.The payments where $77.00,well some how we sent the payment late. NOW THE PAYMENTS TRIPLED. they are now over $221.00 We can not pay this amount, we were going along fine with a $77.00 payment, since when has the mafia taken over the banks. These greddy people should locked up. We Cannot make these payments
Thanks for your vote!
PhillipLittle Rock, AR
Reviewed Jan. 19, 2009
I have had a Chase Credit card sence 1984, My entire balance had a 3.99% fixed for life, no fees, and a minimum payment of 2% of balance per month.
With no notice they change minimum payment to 5% and tacked on a $10.00 service charge to keep the 3.99% fixed, and it looks like the $10.00 will be charge at 27.24% interest till account is payed off.
To keep the 2% minmimin payment per month they would raise my interst to 7.99% fixed and take off the $10.00 service charge.
Thanks for your vote!
GaryFred, TX
Reviewed Jan. 18, 2009
We have been paying a Chase credit card debt off at 2.99% APR for the life of the loan,(might I add that we were NEVER late) then suddenly in 1/09 our monthly statement went from roughly $300.00 to over $700.00 plus an added $10.00 service charge for no reason.This is impossible for us to pay. We have an excellent credit rating and this is just unacceptable. Please look into this matter as you can see from your website, I'm not your only complaint.
Thanks for your vote!
DeborahSebastian, FL
Reviewed Jan. 18, 2009
This is the second of two complaints:
2. Chase Credit Card:
I have had a running balance with them for several years at 4.99% interest for the life of the loan. I have always paid early and paid way over what they ask for. Because I have never paid late and never did anything to negate this contract, I thereby prevented them from increasing my interest rate---as they so hoped, I'm sure.
Now they have arbitrarily (and illegally, I say) changed the terms and are charging me an Activity Charge each and every month and applying this to the finance charges! By doing so, they are now changing the terms of their for life of the loan guarantee and increasing my interest rate by adding $120 per year to it...which changes my 4.99% rate they had promised!!
They are also applying mere pennies to a low balance I have had forever and it changes less than a dollar a year. Consequently, my balance is never paid off!
Is that fair? Is that ethical? Is that legal? It certainly is not right!
Again, just who do these banks think they are that they can just go around and break contracts and assume no one is going to balk at it!
This is wrong---and somebody has to make them accountable!
Please do something, anything you can to change this predation.
Thanks for your vote!
CynEvansville, IN
Reviewed Jan. 18, 2009
I am being blackmailed by this company! I have 4.99% interest rate for the life of the balance, however now they tell me that my minimum payment is raising from 2% of the balance to 5% and a $10.00 monthly fee unless I pay off the balance or choose to increase my interest rate to 7.99% until 2011. Then who knows! In my world I would call that BLACKMAIL. And we are bailing this company out, boy what a joke. I am one angry consumer. And will never ever do business with Chase because of their deceptive ways. Where is our government when it comes to helping out the small people!!!!!!
Thanks for your vote!
JohnRamseur, NC
Reviewed Jan. 18, 2009
I don't agree with the post about revolving credit card aggreements giving the creditor the right to change aggreement to anything they feel like. Does that also mean they can put the new montly fee under the term of purchase? Doesn't purchase mean that your consent must be present? What is the difference between someone using your card unauthorized?
Thanks for your vote!
JulieGrand Rapids, OH
Reviewed Jan. 17, 2009
Same as the previous posts.I accepted an offer to consolidate balances at a fixed 3.99% until the balance was paid in full. I have never made a late payment, missed a payment, or paid less than the minimum on this or any other debt that I have. With the January statement, Chase has increased my minimum payment from 2% to 5% of the balance. This increases my minimum payment from $250 to almost $600 per month. Along with this, the $10 monthly service charge - at 27.24%, which we all know can't be touched until the lower interest rate charges have been paid. I was given the same options, pay it off and close the account or switch to 7.99% interest rate with no monthly service fee and paying 2% of balance due. This offer would supposedly be good thru January of 2011, but we now know how that will probably work. This action by chase seems criminal to me. If I ran my business like this, I would'nt have a business. Just because you can find a legal loophole around an agreement you made, doesn't make it right.
Thanks for your vote!
MarciaValrico, FL
Reviewed Jan. 17, 2009
chase also raised my minimum payment from $ 210.00 to $ 550.00.
Thanks for your vote!
MarciaValrico, FL
Reviewed Jan. 17, 2009
chase also raised my minimum payment from $ 210.00 to $ 550.00.
Thanks for your vote!
SherryStillwater, MN
Reviewed Jan. 17, 2009
Looks like I am in good company- people with excellent credit that had the terms of the contract changed for no reason. Essentially Chase is choosing to charge a fee to those who can go nowhere else as the rest of us will or have already moved our credit away from them. The 3.00%+ the were earning on low risk credit will be 5.00% on high risk credit. Seems like a bank with risk management issues. Shareholders beware- more subprime on the books of Chase. Count me in on the class action for breach of contract.
Thanks for your vote!
JeffreyBedford, NH
Reviewed Jan. 17, 2009
Without any notice to me, without my consent, and without my payment being late, Chase has nearly tripled my minimum payments, and added a monthly finance charge of $10.00. Monthly payments have gone from a minimum of $298.00 to a minimum of $748.00! In addition, each and every month, a $10.00 finance charge is added, along with the interest. I transferred all my balances to Chase after they offered me 2.99% for the life of the loan. I was on time with my payments, have excellent credit and now suddenly am faced with nearly triple monthly minimums.
Thanks for your vote!
RobertChaska, MN
Reviewed Jan. 17, 2009
Chase is raising minimum pmt due and charging new fee to boot. It is a unilateral move toward perfect credit customers. It almost looks like a plan to bilk. I suspect they built in wording in their contracts as their own escape hatch. I have no doubt that state and federal regulatory agencies will crack down on this. My state AG knows all about it and was glad to get my report... and they referred me to federal authorities. It will be interesting to learn just how much of our tax money has gone to Chase. Chase also manages credit for big name companies like Sony. I suspect that respectable organizations will strike back at Chase for doing harm to their image. I suggest that everyone who experiences this report to your state Attorney General and let the companies who have turned their names over to Chase hear your complaints as well. If these people can get away with what they have done... what is to stop them from going further? I think it is a mafia like move... and it will be ended
Thanks for your vote!
AngelaHouston, TX
Reviewed Jan. 17, 2009
January 16, 2009
Attn: Better Business Bureau
Re: APR Increase WAS PROMISED 3.99%
Against: Chase Card Member Services * Po Box 15298 Wilmington De 19850 or Executive Offices * 2500 Westfield Drive * Elgin, Il 60123 * Attn: IL 1-6215 [Ph# (888) 200-6071]
This letter is in reference to my APR dramatically increased!! For the past three months it has been increasing from:
July 2008 8.99%
October 2008 7.57%
November 2008 9.99%
January 2009 27.24%
I was a victim of Hurricane Ike and my county was declared Disaster by The Government. All victims were told to contact their creditors to bypass paying monthly bills. I contacted Card Member Services & was told to that I would receive a bill for $0.00 this never happened so I paid even though I was told I did not have to pay for the month of October??
I have excellent credit and have always paid my credit card bills from day one to present in a timely manner. Please review my bill and see how often I have paid this account:
01/12/2009 $100.00
01/05/2009 $150.00
12/15/2008 $40.00
11/18/2008 $80.00
10/20/2008 $85.00
09/18/2008 $85.00
08/21/2008 $75.00
08/07/2008 $75.00
07/10/2008 $75.00
06/26/2008 $100.00
05/29/2008 $100.00
05/07/2008 $120.00
04/28/2008 $250.00
04/03/2008 $150.00
03/20/2008 $119.20
I made a call to customer service last month and was told this problem would be corrected, I receive my statement for this month to be hit with a interest rate of 27.24% with the economy in the state I cannot afford to pay this amount and would have never agreed to apply for this card had I known about all the hidden statements. I was informed by the Manager, Mae Rider in Missouri that one of my payments was late?? Isnt there a grace period? If the payment was late by less than 7 days because that is what Mae Rider informed ? What about the month I never recd a grace period for?? Mae Rider informed me that October was not paid? That was my grace month and I paid 10/20/08 due I never recd a statement for $0.00 amount due?? Now, to be informed I made late payment? What happened to EXCELLENT CUSTOMER SERVICE?? There is none here. I have been told false statements each time I call in to the phone bank. Now, tonight 01/16/2009 the customer service rep., that answered told me maam I see the notes and will transfer you to the supervisor who will adjust the rate? Then Mae Rider tells me no you made late payments this was s RUDE!!!
This account even goes farther back when I was paying $300 to $500 a month!! On time always, now all of this false information given and my APR are extremely high. I would like to have my account adjusted and my rate back to the original APR as promised by CHASE CARD MEMBER SERVICES.
Thank you,
Angela King
Thanks for your vote!
NancyApopka, FL
Reviewed Jan. 17, 2009
I had an account for a TV from Circuit City which had no interest for 24 months. I felt that I paid it off on the 24th month only to get a bill the following month for $500 interest. I wrote a letter telling them that I had no intention of paying this amount. After a few weeks, I started getting phone calls from their collections. I told several of them the same thing. One told me that I should not have written a letter but should have called. I thas been my experience that it is better to have something in writting. After another call, I was transferred to a Supervisor who told me that the interest could be removed and she put me on hold for several minutes only to return and tell me she could do nothing because the account was closed. I never closed the account but I am sure they did when I wrote the letter. On this date alone, 01/16/2009, I have had nine phone calls from Chase. I have explained the situation to them and intend to write to the credit reporting agencies to dispute this charge but I feel that nine calls in one day is ridiculous. I will not pay this amount of interest if it means they call nine times a day for years. My credit score is in the mid-800's. I do not take my bills lightly but this is not acceptable.
Thanks for your vote!
ChrisOfallon, IL
Reviewed Jan. 16, 2009
Same story as others I see on your website. I have good credit, paid on time, more than the minimum, never late. Transferred balances and accepted Chase' offer of low fixed interest, only to be socked with a new finance charge which is not to be considered an increase in the interest rate nor an annual fee - just a friendly hey send an extra $10 because ????? I do understand the change in the law to increase the minimum payments and I believe that it will benefit borrowers in the long run - sure is bad timing though. Kind of funny that the laws making it harder to file bankruptcy were enacted before the change requiring the higher payments. Methinks something is rotten....
Thanks for your vote!
BruceBurnsville, MN
Reviewed Jan. 16, 2009
Increasing Monthly Service Charges from $0...to $10.
Increasing low interest rate you sold from 3.99%...to 7.99%.
Increasing minimum monthly payment rate from 2%... to 5%.
Thanks for your vote!
RolandHesperia, CA
Reviewed Jan. 16, 2009
Like the other people who own chase credit card, I am not being charged with transaction fee and my minimum payment has increased from $130 to $317 a month. Also, I did not receive a notice in the mail about these changes prior to them implementing it. I would like to be contacted if there is a class action lawsuit to this credit company. Thank you.
Thanks for your vote!
Melanie750 Old Lancaster Rd, C50, PA
Reviewed Jan. 16, 2009
I have a Chase Mastercard which I have always paid on time and have never been in default. My entire balance consists of fixed rate balance transfers with rates ranging from 2.9% to 4.9%. This month without prior notification Chase has instituted a $10 monthly service charge PLUS the average Fixed Rate has increased more than a full one percent.
Minimum payment has also increased from 2% to 5% of the outstanding balance. I usually pay like this anyway - but I am sure it represents an impossible challenge for other citizen customers.
After calling customer service I was told that I could avoid the $10 service charge if I agreed to an increased rate of 7.9%. My only other option would be to pay the balance in full. Is this even legal?
With all of the financial bailouts going on I find this particularly OUTRAGEOUS! I would prefer to close the account and pay off the outstanding balance at the original rates, but have been told that this will reduce my outstanding credit score.
I have reported this to the Federal Reserve, Better Bus Bureau, my local congressman and both state senators and urge others to do likewise.
Thanks for your vote!
WilliamDallas, TX
Reviewed Jan. 16, 2009
Had a CC at 2.99% fixed for life. Large balance, no fees, and minimum payment was 2% of bal per month.
They raises the min payment to be 5% of the bal, and tacked on a $10/month account fee; not certain, but I suspect the $10 fee will not be paid each month and will start adding up a larger interest rate each month.
I received no notice of this.
They are backing out of the Fixed for life deal with the excuss that they can change the terms any way they want.
I head this effects over 400,000 people. See this:
http://www.consumeraffairs.com/credit_cards/chase_credit_cards.html
Thanks for your vote!
JenniferPlano, TX
Reviewed Jan. 16, 2009
I have had a 6.9% interest with Chase for some time now. This week I get a letter stating that my rate will be raised to 16.99% starting in January. No fault of my own, just market conditions that was the reason given. So, now I'm working to pay my taxes to bail out all these banks and there putting the screws to ME? Don't think so! When the banks start playing dirty the people will start playing dirty!
Thanks for your vote!
DianeCape Coral, FL
Reviewed Jan. 16, 2009
Offered 3.99% fixed interest for life of loan 2+ years ago. Never missed a payment, paid more then minimum. Jan statement showed a $10.00 monthly fee, increased min pymt from 2% to 5%. Pymts were $311. now $772. Phoned Chase spoke with Supervisor who said pay in full or Special Offer of 7.99% till 1-11 with no $10. monthly fee. This is so wrong. Is this even legal?? I can't afford to pay. This is so NOT American!
Thanks for your vote!
FArlington, TX
Reviewed Jan. 16, 2009
My January statement reflects a 3% increase in interest and my payments more than doubled without no explanation or agreement. My than current agreement was contracted a set interest percentage. There is no excuse for tham to do this. My credit record with them is impacable.
Thanks for your vote!
JamesNew York, NY
Reviewed Jan. 16, 2009
Chase offered me fixed for life until the balance is paid in full balance transfer offers at a low rate. 4 years later they have changed the terms due to the bad economy by adding a $10 a month fee at 16% and tripling my minimum payment. The only opt out is to pay in full or accept a 7.99% rate until January 2011 without the $10 a month fee. They say a letter was sent to me which is completely false. I feel I was bamboozled into accepting the 7.99% rate to avoid the $10 monthly and it seems criminal that they can change the terms on a fixed for life balance transfer offer. Do I have any options here, it's like they can do whatever they want but I can't. They made changes to a fixed agreement but I can do nothing. This is unbelievable to me. What's unsettling to me is that I chose 3 balance transfers with them as a responsible consumer with excellent credit and was responding to a good offer. They are reneging on their end of the contract. Thanks for your help and advice.
Thanks for your vote!
CandySpringfield, MO
Reviewed Jan. 16, 2009
They received bailout money, yet they raised my interest rate 5% so I would have to pay more interest each month. I have a large balance and that is significant. If I can't pay it down now, how will I ever will higher rates and no more money then I already had. I have to buy groceries with my cards.
Thanks for your vote!
BrianKaty, TX
Reviewed Jan. 16, 2009
To avoid a late fee, I sent in a payment early for December 2008 because we would be out of town and I would not be here to mail it in. Much to my surprise that they credited the Dec. payment, with the Nov. payment, to November 2008 and declared December payment as late. When I phone the co. I was told by the girl answering the phone and her supervisor that it was too bad and they could not adjust it because of the closing dates. They refused to adjust the payments. I have no choice but to pay off the credit card IN FULL and close the account to avoid a bad credit rating and more problems. I will contact our new watchdog groups that are advising our new administration on how credit card companies apply payments. Please be warned...do not carry a balance with chase credit cards..they always try to trap you. I can take care of this but I have fear for our young generation becoming enslaved by credit card debts that are unethical at its best and evil at its worst. Thank Goodness most of these tricks by the credit cards will soon be illegal.(by July 01, 2010) Perhaps that is why Chase is in such a rush to do these things, I am sad for all the people that I have read their complaints on here concerning Chase. It is wrong that thy have been taken advantage of and their money stolen by the credit card companies. Folks please also write your Senator and demand he raise his voice and vote! And People - Boycott all Chase Products!
Thanks for your vote!
LlAmerican Fork, UT
Reviewed Jan. 16, 2009
Chase has taken 400,000 accounts with low interest rates (<5.0) and are in good standing and are abusing good customers. They are forcing customers to pay a $10.00 service fee finance fee and pay 5% of the balance or to raise he interest rate to 7.9% or to close the account and pay in full within 30 days. I don't see how a Bank can do this is must be illegal. I heard a class action suit in going to be made. Chase employees are brainwashed and probably paid to lie. I also noticed a charge for a Convenience Check and I have never even used one. I think Chase is sneaking in bogus charges and ripping off the country. I hope they pay dearly for their wrong doing.
Thanks for your vote!
CjFarmington, CT
Reviewed Jan. 16, 2009
I also had Chase change the terms of my agreement to a minimum payment of 5% of my balance and a $10 monthly fee. This changed my monthly payment from $329 to $807. There is no ability to opt out of the change and no longer use the card. Either I keep my low promotional rate and low purchase rate and pay the monthly fee and higher minimum payment, or change all rates to 7.99% which is only guaranteed until January 1, 2011. Of course considering the way they are changing the terms now, there is no way to believe that they won't use similar tactics to increase the rate again.
Thanks for your vote!
BrendaSugar Land, TX
Reviewed Jan. 16, 2009
I accepted offers to transfer balances at 2.99% and 3.99%. I have always paid early and usually more than (but never less than) the minimum payment. I have three checking accounts and a mortgage with Chase, all in good standing. I have excellent credit.
I was shocked to see that my minimum payment increased from $350.00 to $784.00 this month. The new $10.00 transaction fee only adds insult to injury. I was given the option of transfering my lower interest rate balances to the higher default interest rate to reduce the minimun monthly payment from 5% to 2%.
Thanks for your vote!
LaneSewell, NJ
Reviewed Jan. 16, 2009
As everyone else here, my minimum payment has gone up from $296 to $796, with the same explanation that the minimum is now 5%. I was also offered the 7.99 which would drop me back down to 2%.
Thanks for your vote!
DonaldLas Vegas, NV
Reviewed Jan. 16, 2009
I have 5 Chase cards with cash advances on them totaling over $ 45K. They at this time targeted one and left two alone. I do not have the next statements for the others. They would not work with me at all wanting me to go from 3.99 % until paid in full. They want the $10.00 and increase of monthly minimum from 2% of the unpaid balance to 5% or two and a half times the minimum payment. Needless to say with the state of the economy this can be hard if not impossible to make. They want us to go to 7.99% interest on the unpaid balance until 2011 when the balance would go to over 11 %. With this plan they would keep the minimum at 2% of the unpaid balace and there would not be a $10.00 monthly charge. I short they think they have us over a barrel and many will take the offer because they cannot make the 2 1/2 times increase of the minimum payment. I explained if they do not hold up to their agreement I would file a bankruptcy. They said that is my choice. Well, they are about to get stuck with over a $42,00.00 loss. I am 68, on social security and no assest for the jerks to go after. I also have another $40,000.00 in the same type offer from other cards. So I will be filing on well over $80,000.00. So much for my years of no late payment on anything. So when I file the bankruptcy I will be sure to write them on each account and inform them their greed helped me out in the long run. I do not plan on needing any credit in the future but then to I have many cards that are clear that I can use but I always pay off these cards in full each month that I use one. I have a MasterCard with a rewards that pays back 5% on gas, drug stores, grocery stores and 1% on everything else. I charge everything to this including my auto insurance, vehicle registration and anyone who takes the card. This is paid in full every month. I easily get over $700.00 a year in rebates usually gift cards. Screw Chase and I believe in Karma as well as what goes around comes around. I am about to come around to Chase and will write my other cash advance credit card companies to inform them that Chase thru their thick headed greed caused it and now everyone takes the loss. Everyone but me.
Thanks for your vote!
S.Salt Lake City, UT
Reviewed Jan. 16, 2009
I got a credit card at 3.9% for the life of the transferred balance. The monthly payments are automatically paid and always on time. I just got a statement with a $10.00 service charge *finance charge* this charge is set to accrue a 9.24% APR and this $10 charge is said to continually occur every month. I was told my only option to avoid the charge is to move my balance to a 7.74% APR. In addition my monthly payment has jumped from $124 to $306 per month minimum.
Thanks for your vote!
JeffLansing, MI
Reviewed Jan. 16, 2009
In August of 2008 Chase made an offer of 3.99% for life on a consolidation credit account. The terms were for life, with the above fixed rate. I thought it was a great way to consolidate some remaining higher interest rate debt. I consolidated my few remaining non-mortgage debts.
Three days ago I got my January statement and my minimum payment shot up from 2% to 5%, $450 per month to $1,100 per month. It also had a $10.00 finance fee added into it. I was shocked. I thought I was economically sound. Never had a late payment on ANYTHING, good middle class income, great credit rating.
However, I am a public school teacher, and having the cost of this climb higher than my monthly home mortgage rate was shocking. I called and talked to Tina (customer service rep), and Dona and Mary (Managers). They all gave me the run around on the reasons, and refused to offer even ONE specific reason justifying the increases other than it is no longer cost effective for them to keep my account at its current levels. Each of the three acknowledged the change was not due to anything specific to me, my account, or my credit rating, history, etc...
They all gave me two alternative choices, accept a much higher 7.99% interest rate and they would eliminate the new $10.00 finance fee and lower the minimum monthly payment back to 2%, or I could pay off the account in full.
Neither are acceptable. This is predatory and no better than loan sharking. They brought me in with a good offer, and now have unilaterally changed the agreement now that they have me trapped with the account. I have filed a complaint with the Mich. Attorney Generals Office, Consumer Complaint Division as well as the Better Business Bureau. I also plan to contact my Congressman and Senator.
Thanks for your vote!
BillPhoenix, AZ
Reviewed Jan. 16, 2009
Hey folks, wake up! This is what you agreed to when you agreed to open a revolving credit account. The card agreements say that the bank can change the rules when they want to. It's not just Chase. Read any credit card agreement and you'll find the same language.
Thanks for your vote!
JayWesterville, OH
Reviewed Jan. 15, 2009
When I open the account web site, I have found that the minimum payment was more than doubled up. called customer reps, and found another shocking story about $10 maintenance fee. I was in a year, but in A MONTH! I don's know that the bank can change the terms and conditions without agreement..
Thanks for your vote!
JamesEdinburg, TX
Reviewed Jan. 15, 2009
Like most of these complaints I have read I too had a promotional balance transfer of 4.99% for the life of the loan as long as I did not default which, in the four years, I never did.
I saw my latest online statement to be shocked at the more than double minimum payment and $10 monthly service fee. I was very upset about it and was told to either accept the new terms or accept a 7.99% and reinstate the 2% minium payment and remove the $10 monthly service charge.
They blame it all on the ecomonic conditions but what the HECK happened to the billions of dollars of federal bailout money they received? If they would not be buying other companies, they would have money. Are they using the federal bailout money on CEO/Executive pay, bonuses, pay raises, etc..?
This puts a strain on our budget especially if we budget around expenses that are fixed. They know that most if not everyone will not be able to pay the 5% minium payment and would default if they don't so they are forcing us to accept the higher APR which of course after the time we are given, will probably go up.
From what I have seen on this site is that all the complaints seem to be from people that have promotional fixed for life interest rates, like myself. Is it safe to say that were targets?
I have other Chase credit card accounts with promotional balances, I don't know what I will do if they decide to do the same with the other accounts. I probably will not pay and they will lose all that money for being greedy and unfair and then I will file for bankruptcy.
Very upset,
From TX
Thanks for your vote!
DarrellGresham, OR
Reviewed Jan. 15, 2009
JPMorgan Chase & Co reported fourth-quarter 2008 net profit of 702 million dollars. JPMorgan Chase chairman James Dimon ran up a $211,182 private jet travel tab last year when his family lived in Chicago and he was commuting to New York. The company got $25 billion in bailout funds. And how does this affect me? They nearly tripled my minimum payment and added a $10 monthly service charge to my account because I have a low rate. I've never missed a payment, never been late with a payment (it's on autopay) and have a nearly perfect credit rating. A few years back, I took advantage of an introductory rate balance transfer offer they solicited to me! So, instead of using my tax refund to stimulate the economy, I'm using it to payoff the jerks at Chase. And guess what? Even after I payoff the account, they'll keep charging me the $10 a month until I close the account. I'm glad our tax dollars are being put to such good use.
Respectfully submitted,
Thanks for your vote!
KathyDuluth, MN
Reviewed Jan. 15, 2009
I was recently informed by Chase the terms of my agreement with them have changed. I took advantage of several promotions to lower my % rates, with some as low as 3.99. I am now told that I will get a $10 service charge per month unless I opt out and either pay the full balance of the card or change all my promotional rates to 7.99. First they sell you on the promotional rates and then penalize you for using them. This is poor, if not illegal business practice and I hope others make this complaint as well and a class action suit is formed.
Thanks for your vote!
CarolHenderson, NV
Reviewed Jan. 15, 2009
My January statement showes Service Charge*FINANCE Charge of $10.00. My minimum payment due 1/27/09 went from $107 a month to $265 per month. I called their customer service department to find out about the $10 charge and increase in monthly. Was told by Bill Kennedy that a notice was sent to me in November with change in terms which I did not receive. He said the $10 service charge is a monthly service fee that are now charging to have your account in addition to the interest you are being charged. I told him that I had been a loyal customer for 15 years and that I would be closing my account. He said that they would lower my payment back to the 2% minimum if I would increase my interest rate from 5.99% to 7.99%. I would still have to pay the $10 per month fee.
Thanks for your vote!
JonahPowder Springs, GA
Reviewed Jan. 15, 2009
chase increased my apr from 3.99 to 19.99% they said they need to make profit from my account
Thanks for your vote!
TomSouthfield, MI
Reviewed Jan. 15, 2009
Chase imposed the $10 fee and 5% minimum on me too.
I usually check the inserts in the credit card statements, but either it wasn't there or I missed it. I do autopay and check online so rarely does anything go wrong.
I originally called the customer service number and was treated rudely and they said nothing could be done.
I called the number mentioned in another post (212 270-6000 - ask for Jamie Dines, CEO's office) and was transfered to the Chicago office and put in touch with someone who listened patiently, then a polite rep. They and I were polite, and the rep said they would remove the $10 fee and change me to the 2% minimum, 7.99% for 2 years.
They did say they had no plans to change the terms, but couldn't guarantee even that since I noted they already reneged once.
I will probably do something more (I could pay it off but it woudn't be convenient), but this will stop the immediate bleeding and the $120/yr fee. while I take a proper amount of time to consider my options.
They just got a large amount of taxpayer money because they were apparently in a situation much like they just put thousands of Americans in. I plan on writing the Congress and Treasury to get every penny of that clawed back, or to impose a $100M/month transfer fee until they pay it all back (at $1 billion per month - the new minimum).
THEY made a bad business decision originally. They should live with it. I probably wouldn't have bothered if there was a small reasonable change which would have made the accounts not be losses instead of toxic terms designed to make people close or default.
Most states have laws that you can't put in HUGE LETTERING LIFETIME 2% MINIMUM 4% INTEREST NO FEES! then in tiny print that a teenager couldn't read with 4 diopter glasses (oh, by the way, the whole title is a lie, we can change the terms in any way any time we want). Usually they are forced to abide by the headline over the fine-print. The fair over the unconscionable. Contradictions against the writer of the contract.
I hope many lawyers are reading this and contact those affected if they really can help. My only worry about class action is the lawyers usually get a billion and consumers have to go through something more complicated that most rebates to maybe get a $5 refund.
Thanks for your vote!
BenEden Prairie, MN
Reviewed Jan. 15, 2009
I entered into a balance transfer contract whereas the APR on the transfer was to be 3.99% until the balance was paid in full. The terms also stipulated that the minimum payment would be 2% of the outstanding balancw with no annual fees. Chase has now breached the terms of the contract by charging a $120 annual Account Service Charge prorated at $10/month plus increasing. The Account Service Charge is defined as a Finance Charge. The mimimum payment was also increased to 5% of the outstanding balance. In order to opt out, the terms state that I must notify Chase that I wish to close my account within 30 days of the date they mail my billing statement and at the same time, I must pay the outstanding balance in full. It is unreasonable to expect the balance can be paid in full, which I am certain Chase is aware. I was never mailed the change in terms and conditions which was only attached to my online billing statement. I spoke with Chase customer service I was told that they can only waive the annual fee by replacing the current 3.99% APR with a 7.9% APR. I asked Chase if the annual fee was incorporated in all Chase cardholders and was told that it was only incorporated on balances with low APR's and that mine was lower than the prime rate. On a second call, I was told that this is how they stay in business. When I responded by screwing people?, I was told I was being rude. I have never missed a payment and have paid more than the minimum monthly amount on every billing cycle. Somehow they believe they found a legal way to break our contract and raise my rates. Sounds illegal to me.
Thanks for your vote!
ChihFlushing, NY
Reviewed Jan. 15, 2009
I have been a Chase customer for over 20 years and never had a late payment with Chase. I also never received a letter stating they would change my credit card agreement. On my most recent statement, they applied a $10.00 charge and also increased my minimum payment from 2%-5%.
I called Chase and asked why is there a $10.00 finance charge, and their response was b/c Chase is losing out on money due to the low fixed balanced transfer checks they issued. In my opinion, that is their fault for sending the checks out. We should not be penalized for their financial errors/difficulties.
I also ask Chase, why didn't they Fed Ex this huge credit card agreement change to me, just to make sure i received it. They said it would not be financially possible. How can it not be, if they are charging me $10.00 per month???? a FED EX letter is only $15.00!
Thanks for your vote!
JohnRamseur, NC
Reviewed Jan. 15, 2009
I have had the same thing happen to my 3.99% Fixed APR promotional offer. How can they legally post this monthly fee as a purchase? I have always believed that a purchase was something that the card holder must consent to? I feel this is nothing less than theft and pray that chase is punished for this unethical practice.
Thanks for your vote!
RonaldJackson, MO
Reviewed Jan. 15, 2009
Chase has added a $10.00 per month fee and increased the minium payment to 5% of the unpaid balance each month.
Thanks for your vote!
Loading more reviews...
Chase Credit Cards Company Information
- Company Name:
- Chase
- Year Founded:
- 1799
- Address:
- 270 Park Ave
- City:
- New York
- State/Province:
- NY
- Postal Code:
- 10017
- Country:
- United States
- Website:
- www.chase.com
Leave a reviewAre you a Chase Credit Cards customer?
Explore more...