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Chase Man Bank / Minimum payment increase

1 PA, United States Review updated:

I received along with millions of other hard working bill paying families from my credit card holder chase manhatten that for no wrong doing on my part the minimum payment on my balance will go from 2% to 5% starting aug 1st. That will make my payment go from 225.00 to 650.00. This is an outrage after our government bailing out these mega banks funded my no other than the us now turning around and financially ruining millions of families and small business. Keep in mind in the last 2 years they sent out offer after offer to transfer your out standing balance to them with a low fixed rate of 3.99% until the loan is paid off. That made sense to me so I transferred a student loan a car loan etc to this lower rate card. I always paid on time and over the min payment so to pay it off faster. Now they turn around and raise the min payment amount and make it impossible for me to manage this. Go on line and read the thousands of others who got the same notice this week. People are in a panic they don't no what to do or who to contact to get help.

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Comments

  • Ma
      27th of Jun, 2009
    +1 Votes

    I also received this notice. I'm not sure how I'm going to make the payments either. My balances were for medical bills for my son who spent 2 years in the hospital. The # is 850, 000 cardholders!!
    They have created a NEW pandemic, maybe I should post a new complaint under that phrase. If you have resources, call the media, this needs a LOUD noise from all 850, 000 cardholders that they would not be doing this to if they would have missed 1 payment...

  • Ma
      27th of Jun, 2009
    +1 Votes

    Tell everybody you know, that Chase is a bunch of true modern day "dirt-bags." I'll never do business with them ever again! Bullies always lose in the long run. Let's do what we can to eliminate this group of criminals. Do what ever you can to weather this storm, and save your best energies thereafter to put Chase under.

  • Di
      29th of Jun, 2009
    +1 Votes

    Here's who to contact at Chase:

    http://consumerist.com/5010379/contact-information-for-chase-ceos

  • Ze
      1st of Jul, 2009
    +1 Votes

    Chase increase in monthly payments is a financial crucifixion for many of its card holders. I do not understand how anyone can get away with this. Not only is this causing economic hardship but is also causing its card holders physical illness and emotional turmoil.

  • Ma
      2nd of Jul, 2009
    +1 Votes

    Check-out that last few blogs on credit.about.com...I am really having a hard time believing that these are TRUE!!! I have called 3 times trying to get a rep that is in the usa. Last time they told me to quit calling because my question has been answered. Anyway check-out the blog and let me know what you think...

  • Je
      2nd of Jul, 2009
    +1 Votes

    I received this increase as well and overnight went from just being able to cover my payments to seriously considering bankruptcy. Since I transferred all my debt onto my Chase card my balance is high $16, 000 and my payments will go from $330 to $850 per month which is completely unrealistic. I have never made a late payment and have not come close to my credit limit and this is literally going destroy my financial world. I won't be able to make the payments, I will have to file for bankruptcy and Chase won't get any money at all. I would like to ask you, how is that going to help anyone? Had they left the payment alone or increased it slightly I would have continued to pay on time and as things got better with the economy would have been able to pay it off early. Now that I realize others are speaking out I would like to know if anything can be done to get this decision reversed.

  • Ma
      6th of Jul, 2009
    +1 Votes

    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!!!

  • Ma
      6th of Jul, 2009
    +1 Votes

    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/

  • Ma
      9th of Jul, 2009
    +1 Votes

    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…”

  • Ma
      10th of Jul, 2009
    +1 Votes

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

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