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In 1/08, I applied on-line for a 0% APR Credit Card from Chase. I received a credit card and a check from Chase. The credit card said I was approved for $13, 000 and Chase included the check to use for a balance transfer. The afternoon of 2/14/08 I deposited the Chase check for the balance transfer into my Wells Fargo Account. On 2/16/08, I went on-line to AT & T Universal to transfer funds to pay off the AT & T account. I discovered on 1/23/08 had already transferred the balance for me. I had inadvertently duplicated their efforts by writing a check for $13, 000. On 2/16/08 I called Chase Customer Service and explained to Chase Customer Service what happened. They put a stop-payment on the check which had not entered their system, so I would not be charged. The following Wednesday, 2/20, I established my on-line account with Chase. It was then that I discovered the $75.00 fee for the balance transfer. I went ahead and submitted a payment from my checking account for $200.00 for 3/7/08. The on-line payment system did not specify an amount due. On Tuesday, 3/25/08, I received a telephone call, at work, from Chase informing me that I was delinquent on my Chase account because I had only paid $200 and a $247 payment had been due on 3/7/08. I was now delinquent $47.00. It was then that I learned that my 0% APR was 11.4% because I had not lived up to the terms and had shorted them $47.00 on my payment. I had never received a single bill or statement to advise me that a payment needed to be paid. I was also being charged a late fee of $39.00. Chase asked if they could debit my checking account for the payment. Following the call I contacted Chase Customer Service and confirmed the APR adjustment and fees. Chase waived the $39 late fee, but would not make any further adjustments to the APR nor to the.$39 check return fee. I am paying much more in fees in interest now than with my AT &T Universal Credit Card. I looked at my account on-line the following day and discovered that Customer Service had not credit the late fee to my balance.
Original payment failed to post due to Chase website problem. Chase Internet dept. corrected problem and told me to pay again - but would notate account so I would not be charged for a late fee or change in Promo Interest rate. Over a month later I was told that the Promo dept rebilled me the late fee and interest -costing me hundreds of dollars.
I was told I can't speak to the Promo dept!
I had a wamu card with 8.99% interest rate I pay my bill every month on time. My wife starts complaining about her 2 chase card accounts going up on their rates and yes she pays every month on time. I decided to check my card because chase bought out wamu several months earlier and I saw that they increased my rate to 29.99% WOW HOW DID THAT HAPPEN? I contacted chase the rep said that I was sent a letter informing me of the increase and that if I did not agree to the increase then I could close my account. Well then yes I want to close my account with the old rate attached. The rep said I was to late to opt out and that they will close the account with the 29.99% rate. I called several more time trying to get this rate increase dropped to no avail. I kept paying the bill for a few more months but it really started chapping my ### so I decided to quit paying the bill. Guess what? After a few months they wanted to work with me so they gave me an offer that was acceptable to me. My wife caught hers in time and was able to opt out on the new increases but she had to close both cards for this to happen. My wife also never saw the supposedly letter for rate increase.
WHAT IS THIS A NEW CHASE SCAM?
I had a Wamu card 8.99% interest rate I pay my bill on time every month, then Chase buys Wamu a few months later my wife is complaining about her chase card interest going up so I decided to look at mine. My rates went up to 29.99% wow what happened? I contacted chase they claim they sent me a letter telling me that my rates would be going up and if I did not want to pay the rate increase I could close the account. I never saw that letter so I told them I wanted the card shut down with the old rate I was told I am to late to opt out and had to pay the new rate with the card closed. I quit paying on the card and decided if they don't want to work with me then I wont work with them. A few months later they made a deal to my liking to pay off the card. My wife's 2 chase cards tried the same thing but she was able to opt out in time but to opt out meant closing the cards..WHAT IS THIS A NEW CHASE SCAM?
Chase is terrible. I got a promotional APR for credit transfers in the mail and used it. They didn't honor the promotion because they sat on it until the promotional period expired. I ended up with a balance on a Chase card that was about 2x higher APR than the card that I transfered from. Oh well, it only took me one finance charge to figure this out and cancel.
Hey Kristina.
I take it by your ALL CAPS SHOUTING that you are an Internet genius and you must also be a financial wizard with your of your great advice -- NOT! I have two Chase cards, total over $36, 000 in credit limit. Never one late payment, customer of 12+ years. I pay off my balances in full every month.
They offer me something I cannot refuse. 2.99% for the life of the balance fixed -- not variable. I read the fine print, it was good. I spoke with the Chase bank manager about this and he shook my hand, saying, " no problem, it is as good as our home loans--only a better rate." He confirms that the only thing that would move my rate higher is if I paid late, I default or my credit tanked. No worries there, I'm at 749+ score with all 3 bureaus.
Fast forward one year. Chase increases my regular APR from 7.99 to 29.99 (no reason, all of my accounts are in good standing.) Then they reduce my credit limit to just above my balances. Pissed yes, but no worries. I continue making payments on time.
Now they send me a notice (Jan 09) that all my fixed for life promotional rate is going away. No opt out feature, its just going to happen in April 09. (says the customer service person).
Chase took 25 BILLION in taxpayer money with the bailout. They were supposed to use it to pay bad debt, instead they bankrolled it (there is no supervision of the bailout money by the way). They are also using it to lobby congress to veto credit card reform.
Chase follows the new credit model. They actively search for people who may have difficulty paying off debts and target them with balance transfers and debt consolidation offers. After getting in over their head, they bait-n-switch and frak them over. In an internal Chase meeting this policy was disclosed and the informant left Chase after he found out how crooked they are.
Luckily, I am in a position to pay off Chase in full on this. A lot of people are not so lucky and this will be the straw that breaks the camels back for them. I feel bad that our government backed such a crooked company like Chase, but then again, it is our government. No stretch there.
To all the flamers who would respond to this and with only the intent to tear up my comments: Go ahead. Maybe your a Chase Zealot in disguise, some CEO in his gold leaf pajamas who has to beat up on the person who got screwed by your company and has the balls to tell their story. Those reading posts after this will easily tell who is telling the truth and who is covering for Chase.
Transfer your balance somewhere else. They want you to, seriously. You aren't making them any money.
I received my Chase statement yesterday and noticed that my minimum payment had been increased 250% and a $10 a month charge had been added. Needless to say speaking to a representative and supervisor did not do any good! I was told that they could change my rate to 7 plus % (don't recall the actual 7plus%)! I had borrowed the money on a promotional rate at 3.99% and 4.99% and nowhere in the offer was this stated that they could do this! I was never late or missed a payment!
If you're serious, call customer service, ask for a supervisor, and demand that the call be pulled. I hope you read this, it may be too late, but call and see if they still have the call. The rep MUST disclose all the terms, and the bank has to abide by what the rep tells you. They call it promise made, promise kept. And knock it off with the "I didn't get my bill" So original
Chase Credit Card — promotional rate change
See the third entry
Also,
http://arcelay.vox.com/library/post/10-confessions-of-a-chase-customer-service-rep.html
gospel truth
I received my January statement and to my surprise my monthly payment had increased from $350.00 per payment to $862.00 per month. Mine you, I have not made any new purchases over the last year. I immediately called customer service and was informed that now I have to pay 5% of the unpaid balance plus a $10.00 service charge fee monthly. This was unbelievable. I was not informed of this change in billing. Have this happened to other customers? I will be closing this account and also sharing this experience with others. However it seems I am forced to make this enormous payment.
I FIND IT FUNNY THAT YOU GUYS COMPLAIN WHEN IF YOU WOULD OF FOLLOWED THE USER AGREEMENT THEN YOU WOULDNT OF ENDED UP WITH THE 11.99 APR. SIMPLE FACT: YOUR LATE FEE DOESNT CREDIT RIGHT AWAY, IT TAKES A BILLING CYCLE. DONT BLAME OTHERS FOR YOUR STUPIDITY!
I am so irate,
Chase duped me also, I was approved for a credit card with a balance transfer. I was never told how much or for how long the 0 apr would last and what the apr would be afterwards. So without this information they went ahead with the balance transfer and the 0 apr was for 3 monthe with 20.99 percent apr afterwards which is alot worse than my 14.99 percent apr I have now. with a 69.00 fee for the balance transfer. I was never even given the option of choosing because this happened so suddenly online with just an email.