My wife had her hours cut. I took on a second job. We were proud that were working hard to keep our heads above water after medical bills almost sank us. We moved a large balance to Chase for their touted “Lifetime Low Interest.” It helped.
We’ve never missed a payment, never been late and were making progress..finally..after 2 years.
We have a 3 year old and are on a tight budget.
Our minimum payment just went from $200 to $500 a month. Instantly. We simply don’t have that money. We would have in a year or so as our hard work paid off, but we won’t now.
Everything has changed now. We can expect a huge hike in interest and fees as we can’t pay this, and of course, the other credit card we have will immediately hike our rates when this affects our credit.
It is almost as if they want thousands of people to default or declare bankruptcy.
It’s disgusting that this is legal in our country. It feels like bait and switch.
It’s amazing that the people at the helm of Chase can’t see how this is going to further hurt our economy. Of course the hurt to their customers who took their low rate offer and have been paying a fixed amount on time for the last year is of no concern.
Apparently, not getting paid is better than being paid in full following their original terms.
Working hard and trying to be a good guy, you really do finish last.
Chase offered two ways to "help"
Sign up for their "new" loan at a high interest rate and high minimum payment or talk to a certain CCCS company they work with.
I looked into this company...BBB revoked their membership and they have as many complaints as Chase does.
Thanks, Chase. Way to throw your customers who have never been late and always paid under the bus.