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Chase Credit Card / unfair business practices

1 United States Review updated:
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Last year Chase bought Washington Mutual; we had 2 credit cards with WaMu that became Chase cards. My husband and I decided not to activate the Chase cards until we had paid off the balance; working to that end we made twice the minimum payment on each card. In July we received a letter from them saying that our accounts had been closed from lack of use.

Three years ago we paid off a Chase credit card and closed it as the interest rate had increased from 11% to 30% even though we had never missed a payment. I was extremely disappointed when Chase bought out WaMu as I had already been the recipient of their usury business practices, but decided to make the best of a less than positive situation (from my perspective) and simply pay off the cards and charge something small every month and pay it off before any interest could accrue. I decided not to close anymore credit card accounts as that produces a negative to my credit score but Chase beat me to it this time.

What steps can I take to 'assist' Chase in realizing how wrong they are to treat their customers this way? Also, is there any possibility that all of us who were treated badly by this company could file a classaction lawsuit to get them to reverse the worst of their crimes?

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Comments

  • Ca
      17th of Sep, 2009
    +1 Votes

    My parents had a Chase credit card It is showing on there credit statement errors when my mom went to fond out what was going on because they have not had this card for years. Chase told her that they had sold the contract to three different bank now they cannt come up with the contract what can we do. We need to get this taken care of and I thought if they could show you the contract you did have to pay the debt but they really do not owe chase.

  • Na
      20th of Sep, 2009
    +1 Votes

    More people need to come out and address the unscrupulous and unfair behaviors of credit card companies like Chase. The more we all talk to our politicians and report these tactics to government bodies like the FTC, the less they will be inclined to practice them. I too paid off a balance on a Chase credit card that I have had for 4 years. In those for years my interest rate went from 9% to almost 28% with little to no fault of my own. I decided to pay it off and stop paying them more interest than I would pay a loan shark. No sooner that I paid it off that they reduced my credit line by half. Instead of now showing a higher available line that was now completely paid off, I have half the line and now by doing so, they have hurt my credit score by how much credit I have available. Another friend of mine had the same thing done to them except he uses the card for monthly expenses and was paying it off at the end of every month. After the most recent pay off, they cut his credit line in half just a week after he paid it off and unknowingly went over his NEW credit limit by $30.00. They hurt him by now showing less credit available, a card that should have had more than 50% credit line available now showed as maxed and over the credit line. All within a week. This type of practice needs to stop and these banks should not have the power to manipulate consumers as such. When credit has become the end all be all, even the good people who pay on time get hurt. Contact your politicians and scream out to the top of your lungs!!!

  • Mf
      27th of Sep, 2009
    +1 Votes

    I agree! It's not fair that the consumer not only gets stuck with the bill but now has to deal with poor credit ratings. How in the world do you explain that one? There needs to be more control, if creditors offer credit to people that really never "qualified" shouldn't the creditor be liable? why am I? I didn't have anything to do with it. Instead, I get stuck and so does every other good person. Now it's nearly impossible to become credit card free with having to pay off creditors bad choices. BTW what's happening to all of the people who defaulted? I wonder...

  • Ch
      30th of Sep, 2009
    +1 Votes

    My husband and I have always paid our bills on time. I am pregnant and I am not working F/T. My husband got "transfer checks" from Chase last week. He hadn't had a balance on the card and the limit was $17k. I used one of the checks to pay off my credit cards and the transfer rate was 0.99%. I deposited into my bank account on 9/25 and it cleared on 9/28. I sent Electronic payments from my bank acct on 9/29 to pay the credit cards that I had so all would be on one card and I would only have to make one payment every month.
    Today, 9/30, my bank calls me and tells me CHASE refused to honor the check. I called my husband and HE called Chase to find out WHY? My husband and I both have credit scored in the high 700's. We PAY OUR BILLS.
    Chase told my husband "we decided to close your acct today because you haven't used it".
    My husband says, well then why did you allow this to GO ONTO MY CARD????
    Chase said "it was an error"

    I find NO COINCIDENCE at ALL that Chase happened to close my husband's acct IMMEDIATELY after we used one of the checks. So now I have $5k worth of checks going out of my acct that WILL BOUNCE.
    Isn't this nice??? Isn't it great when people who PAY THEIR bills get the shaft? I have to wonder why they didn't treat delinquent, irresponsible people who CAUSED this "crisis" like this.
    I know a person who declared bankruptcy and THEN got a WHOLE bunch of new credit cards, ran them up again and then declared Bankruptcy again!
    Maybe that's what we should all do folks... STOP PAYING YOUR BILLS AND DECLARE BANKRUPTCY! It's become apparent that doing the RIGHT THING in this country only gets you punished... that is why people who don't pay their mtgs and bills get so much help! Nice to know when we PAY OUR BILLS we get screwed even more. I WILL BE CLOSING ANY AND EVERY CHASE CARD I HAVE!

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