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Chase Bank Usaminimum payment increase

1
G Review updated:

On june 25, 2009 I received notification from chase bank that my minimum payment would increase from 2% to 5% of the balance. This is outrageous. We the people need to run chase bank out of business. How do we do this? By closing our accounts; personal and business, never to return as customers again. This behavior raises questions like, if chase can do this so can any other bank? And when they try and tell you it will ruin your credit score? I say stick your credit score where the sun don't shine. Credit scores are weapons used by the bank. Credit is dead as we once new it anyway. If 850, 000 account holders default because they can't afford the minimum, who cares about credit scores. Don't file bankruptcy, just quit paying chase. Then they will have to hire more collectors in india to work the phones. We need to abolish banks and go back to cash only transactions. Take these greedy sleezy bank executive weasels down with the rest of us. They have already stolen our 401k retirement savings, our tax money we pay out and now our credit ratings we have worked a lifetime to establish. Let's begin the bank abolition now!!!

Responses

  • M
      Jul 03, 2009

    I also was hit with this extortion!!! Check out the blogs at credit.about.com...There is some interesting stuff going on here. Also check out changeinterms.com...

    +1 Votes
  • M
      Jul 09, 2009

    This comment was posted at banktime.com and sent me into a tizzy!!!

    I let’em have it!!!

    “The cardholders affected by the new minimums will be those considered “high risk, ” who have been less than diligent about paying their account scrupulously in the past…”

    +1 Votes
  • M
      Jul 10, 2009

    CHASE TRIES TO STEAL WEBSITE: Please read The article @http://www.free-press-release.com/news/200901/1231777439.html#comments

    +1 Votes
  • W
      Aug 14, 2009

    I have never been late with a payment.. but I was slammed with double the minimum which I can not afford. They want you to miss a payment and get the fees and late charges. It should be illigal. Maybe it is - I wrote two letters and forwarded to Obama. Doing this to their loyal customers who have made payments on time and give them business is Horrible. Nothing like screwing over the working poor. (again)

    +1 Votes
  • P
      Aug 24, 2009

    We got hit too. Loan for school went up from $320 a month to $650... Loan for car went from $180 to $448. I will never trust Chase with another loan again as long as I live. When I called them to complain I was offered terms at 4% higher than I am paying now. Basically, they are using pressure tactics to get folks into higher interest rate loans. I'm not buying. We have had some huge medical bills lately and are selling our house. When the house sells, Chase gets paid off and I will NEVER do business with them again. The pirates. Taking advantage of people in this economy is immoral. Another former loyal Chase customer. Never late, always paid more than minimum. Now screwed.

    0 Votes
  • B
      Aug 26, 2009

    I agree what they are doing is criminal. They are trying to hobble users that have had an excellent history of payment and low interest deals that they provided... My minimum payment was 2.5 times what it had been in the past. They tried to goat me into taking a deal where they can after 2011 jack up interest rates to some thing like 25% AND they keep dropping my limit, so it looks like I am at my limit...

    0 Votes
  • B
      Aug 28, 2009

    Write the Federal Trade Commision at their website and file a complaint against Chase. I was told, as many people were, that we were sent a letter in advance of this 250% increase. There were no letters sent, as there were no opt outs. Chase is clearly trying to skirt the new Credt Act that includes just these two requirements or they can be charged federally.

    So complain long and loud. Let everyone know what JP Morgan Chase is doing. The company that took 25 Million of our tax payer dollars to be "bailed out".

    Congressmen and Senators should also be notified.

    0 Votes
  • T
      Mar 21, 2010

    Please, remove it from credit Bureau
    Thanks!

    0 Votes

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