Chase Credit Cards Reviews

I cannot prove that the technical glitch was theirs, but I wasn't even listened to or provided any information about how to dispute this when I called to try to straighten it out, not even allowed a supervisor on the shift. In my anger, I asked to close the account immediately, which was done. Unfortunately, he (the rep) closed it so completely and disabled my online access so that I couldn't even access the account to make a payment on the now-closed balance, so I wrote a check that night for $350 (12/17) and transferred the remaining balance to a different credit card a few days later.

Here it is now 12/26 and I've yet to see that $350 credit, I did contact them to find out what's taking so long, I do NOT wish to incur MORE late fees and negative scratches on my credit report because of more of their incompetence, nor will I contact "customer service" again as they are not at all customer-oriented or even helpful, aside from the language barrier.

I called back in early October and was told the check was mailed 10/3/05. October came and went and no check. I called again in Novemeber. A Chase customer service rep told me payment would be stopped on the first check and that a new one would be mailed. Called back several more times to get a date for when the 2nd check would go out. These calls resulted in a realization that I was being given the runaround. Told one thing and then another.

Finally after reaching a customer service supervisor, was told a new check was not mailed and that the issue was being passed on to a "manager" for further comment / action. On 12/19, again I callced and reached a CS supervisor. He gave me the same story about a manager looking into it and that someone would call me within 24 - 48 hours. No call back rec'd.

Chase accepted to reverse the late payment fee of $39 after receipt of the $1000 payment - at that point I thought that my account was back in good standing. with the following billing cycle I noticed that the interest rate was changed to 27.99% - I immidiately refunded the balance due of $23,000 and requested this loan shark interest to be reversed. I own 2 additional Chase cards and just received a letter in the mail advising me of interest rate increase to 24.99% on both cards. I have arranged for these loans to be repaid before the higher rate goes into effect.

I would have repaid the $23,000 loan immidiately if the lender informed me in advance of the rate increase! I feel that this lender is discriminating against me. I have a great credit report ... yes, I have high revolving balances ... but I always make my payments. I have the cash and the assets to repay the loans. I am a Swiss Citizen. In Switzerland, the land of the banks, we are protected against usury with a Government Law that limits interest rates to 15% - I am very disappointed to learn that the USA Government grants its citizens the same protection of Nigeria!

But I am more disappointed by Chase Bank that I tought to be a great banking institution.

After the late payment all my balances went to a default rate of 27.99%. I called Chase to see if I could get an exception, given that I'm a 15 year customer with an excellent payment record. I was might be able to "earn" my rate back over six to eight months but no exceptions to the default rate are made.

I called for clarification and was told that for several reasons, my APR would be raised to 27%. The only reason he offered was that my debt ratio was too high. He hinted that there were other reasons too but that he "could not tell them to me." I asked how Chase determined what my debt ratio was, and he said they constantly pull copies of my credit report. (is this harassment?) The only way to avoid the APR hike, he said, was to "opt out," which means that I cancel the card, and the APR will remain at 14.25%.

However, if Chase ever decides to raise the APR again, I have NO recourse because I've already "opted out." He could not give me any information about how long Chase would have to refrain from raising the APR again. This was my oldest credit card (6 years). I have never made a late payment and I frequently pay more than the minimum payment. Now my credit rating will go down because I was forced to either double my APR (which I cannot afford and refuse to do) or close the account-I HAD to close it.

Credit ratings go down when a card with a balance closes because it appears to always be at its limit. Longevity of cards also bolsters credit rating. Chase now has no incentive to refrain from raising my APR again. I will pay the card off as soon as possible (which will take a long time, I have $13,000 left to pay), but these practices are unconscionable and, if not illegal, then certainly toeing the line.