SUBMIT A COMPLAINT

Chaseincrease in minimum payments

1
R Review updated:

I recently received notice (along with a million+ other folks) that my minimum payment will increase 250% on My Chase credit card. The only reason I used it was because they hounded me with great balance transfer offers. Finally I used the checks they sent and closed two other accounts. Everything was fine...until now. I never missed a payment. I was never late. I ALWAYS paid at least $100 more than the minimum required payment. So what happened? I got the run around from customer service and all they could tell me was that there was nothing they could do. The short of it is, they are desperate for cash and are trying to force people like me into default. Then my cozy little 2.99% APR will sky rocket to 23.99%. Then, to make it more infuriating, they lowered my credit line by $4000. So now I will have an over the limit fee each month on top of the exorbitant increase in my minimum due. Tell you friends, tell your family, call the BBB, do whatever you can. Don't let Chase get away with this!

R.B. Atlanta GA

Responses

  • W
      Jun 25, 2009

    ;where or who is going to help us with the chase min. payment increase? Chase has just screwed a lot of people and should be held liable, someway. Any credit law lawyers out there?

    +1 Votes
  • M
      Jun 25, 2009

    [protected]@girardgibbs.com I just emailed this law firm. Looks like they are looking into a classaction lawsuit over the min payment increase. Somebody needs to do something!!! Some cardholders had an opt-out option in there notice, others did not. They are trying to make us default so they can increase the rate.

    +1 Votes
  • M
      Jun 27, 2009

    If they lowered your credit line to cause an over the limit fee then I think you had better contact a lawyer!!! Has that happened yet??

    +1 Votes
  • W
      Jun 27, 2009

    no, not yet

    +1 Votes
  • J
      Jun 28, 2009

    This cannot be allowed to proceed! We're all struggling as it is and to increase a minimum from 2% to 5% with 30 days notice is unreasonable!

    +1 Votes
  • S
      Jun 29, 2009

    I got the same increase, from 2% to 5% and I can't afford that type of an increase. I've never been late and I transferred higher rate balances to Chase because of the low interest life of the balance special offers. This can't be legal. What can we do? Friends have Chase also and never received this payment % increase, their cards were lower balances. Help! [protected]@ksu.edu

    +1 Votes
  • M
      Jul 02, 2009

    Check-out the last few blogs on credit.about.com...I am having a hard time believing that Chase has made these deals...I have called 3 times trying to get a rep in the USA...Last time they told me to quit calling because my question had been answered.
    Anyway check it out and let me know what you think...

    +1 Votes
  • J
      Jul 06, 2009

    I got the same thing. Two Chase Cards with large balances because they sent irresistible checks for 3.9% for the life of the loan. Never been late, always paid more than the minimum, yadda, yadda, yadda. As I understand it, 850, 000 good hard-working Americans got this screw over job. Like the rest of you, it's an impossible increase to make happen on our budget.

    What a ridiculous bate and stitch tactic. Loan shark dealings. I don't know if it's legal -- but it most certainly is unethical.

    Nice way to screw the middle class citizen, Chase. You will never see a dime from me in the future. I'll be done with you forever as soon as I can manage to get you out of my life.

    +1 Votes
  • M
      Jul 06, 2009

    I had sent a message through my online account with Chase commenting on my displeasure with the Change in Terms...They emailed back a canned letter but also reminded me in a VERY threathning way that they can now Close My Account for ANY REASON...Today I get this in my email


    Dear


    You recently received an e-mail response in reference to a question or concern regarding your Chase credit card. We need your opinion on how effectively we handled your contact in order to provide the best service to our customers.

    Please take a few moments and complete the brief questionnaire, which asks about this particular experience with Chase.

    Your participation now will help us provide you with the best possible products and service in the future.

    Note: For your security, Chase will not ask you to provide any personal information while taking this survey.


    Sincerely,

    Chip Hill
    Senior Vice President, Customer Experience

    I really don't think CHASE is going to want me to fill this out!!!

    +1 Votes
  • M
      Jul 06, 2009

    Check Out the article on the following site, he did a great job!

    http://www.investingblog.org/archives/509/beware-of-3q-and-4q-banking-and-credit-card-earnings-%E2%80%93-manipulation-of-earnings-with-minimum-payment-scam/

    +1 Votes
  • T
      Jul 09, 2009

    Hello All,

    I was one of the one that got the same minimum payment increase. I've
    never been late and pay my balances as was promised to me. It's time
    to fight back by all consumers. we are getting pushed around by all
    these banks. We should make flyers and pass them to their customrs in
    front of these banks and informing them on what is going on. if they
    see the action people are taking they will understand their actions
    wont go unpunished and they will loose business

    +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
      Jul 12, 2009

    Ok. so be it, we are getting screwed and there might be a class action suit.
    The question now is : WHAT DO WE DO NOW? Do we try to find a way to pay, do we go into debt consolidation program, DO WE JUST NOT PAY?
    My credit is ruined anyway, and I don't have to many years left, and I don't like getting screwed. So I'm thinking of just not paying. Let them do what they want. Sue me, I don't have anything, they can't take your house or vehicle. Raise the interest and add late fees. What good is it going to do? They can add a million dollars or two, but still ain't going to get any money. They can't get anything if you don't have anything.
    I'M JUST TIRED OF GETTING SCREWED WHEN I PAID THEM ON TIME EVERY MONTH AND DIDN'T MISS A PAYMENT.

    0 Votes
  • P
      Sep 11, 2009

    I complained about the 3 to 5% increase by Chase to the Attorney General of Calif. He replied that I should get in touch with the Office of the Comptroller of the Currency, Customer Assist. Group, 1303 MCKINNEY ST., SUITE 3450, HOUSTON, TX [protected], PH [protected], Email: Customer.[protected]@occ.treas.gov Internet: http//www.occ.treas.gov I urge everyone to get in touch with this agency and file a formal complaint. They have a form to fill out for this purpose. DO THIS NOW!

    0 Votes
  • C
      Oct 03, 2009

    Chase is taking an extra 1, 000 out of my checking per month now due to the increase in minimum payment. I took advantage of the balance transfer option at 4.99% which I thought was a good deal. Chase thinks they can change the rules and whats scary is that I can find any help to stop them. Ive emailed my state senator, banking commision, everyone I can think of. Goveernment has to step in. Its just common since that chase should not be allowed to default on there end of the contract and screw us in the process. This company and its executives should serve prision time for this crap. I will spend the rest of my life fighting this company.

    0 Votes
  • B
      Oct 10, 2009

    There are several options for the almost 1 million customers that Chase has screwed. First, contact Chase just so you can hear the "thats too bad" speech. Then file a complaint here

    http://www.helpwithmybank.gov/complaints/index.html

    and

    Write to the authorities if this bothers you or to state your thoughts. Per Chase's mailing, which doesn't contain a copyright notice, the relevant Federal Regulatory Entity to write to is:

    Office of the Comptroller of the Currency
    Customer Assistance Group
    1301 McKinney Street, Suite 3450
    Houston, TX [protected]

    The address to send written correspondence to Chase Credit Cards is:

    Cardmember Service
    PO Box 15098
    Wilmington, DE [protected]

    Or you can write to Chase's CEO:

    Jamie Dimon, CEO
    JPMorgan Chase & Co.
    270 Park Avenue
    New York, NY 10017

    It will get Chase attention! Also file a complaint with your states Attorney General and Federal Attorney General. Chase can put some on hardship payments by closing your CC account and putting you on a type of loan that is low interest and low payment for 5 yrs. Not all will qualify.

    There are over 20 class action lawsuits that have been consolidated into one, if the fed judge doesn't throw it out those that can hang on might get some relief in a few months. Do YOUR part, here is the site: http://www.girardgibbs.com/chase.asp

    This is what you get with a government controlled by corporate money. Like FDR said, a government by organized money is just as dangerous as a government by organized mob.

    http://www.cnn.com/2009/POLITICS/10/09/credit.card.outrage/

    0 Votes

Post your comment