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Jpmorgan Chase / credit card apr increase

1 United States Review updated:
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My wife and I had a wamu platinum visa, have been holders of this credit card for the past 7 years, have excellent credit, pay our bills ontime and pay more than the minimum balance. During this recent financial crises, chase bought out wamu and our credit card account with it. They have since increased our apr from 7% to 29.99%. We are dumbfounded and angry.
We carry a 9, 000.00 dollar balance on that card, having transferred balances from other cards because the apr was favorable. Now, we're struggling to pay off the balance and are getting hit with 200.00 dollar finance charges each month.
We have contacted chase 8 times over the past month, with no response except to pay off the balance.

Who do we have to contact to get something done? We know allot of other people are in the same situation.

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  • Rw
      25th of May, 2009
    0 Votes

    i would recommend prepaidlegal by being a member of that service you have a law firm on ya side 24-7 for 26.00 a month and in ya situation they can get it straighten out with a series of letters or phone calls because when it comes to businesses there is not much we can do but when you have the power of an attorney it changes things so email me and i'll get you some info [email protected]

  • Wh
      2nd of Jul, 2009
    0 Votes

    I'm in the exact situation. I also had a WaMu card and when Chase swithed over the put me on paperless statements which caused me to be late, charged me a late fee of $39 and increased my interest rate to 29.99%. Now I can't afford to pay my bill each month. I only have a $5, 800 balance so I'll never get it paid off now. The interest charges are $134 plus a min fee which will very slowly take my balance down. I fear that I'm going to have to file bankruptsy because I've been laid off and other creditors are doing the same. This was their intentional mistake to get more money from me. I tried talking with a supervisor but he said that there was nothing he could do about it. What is our country coming too??? There won't be much left.

  • Do
      30th of Aug, 2009
    0 Votes

    Exactly the same thing happened to me. I had a WAMU card for 9 years at 9% interest and now it is 27.99% from being late one time-due to the DUE DATE changing w/out notification. WHAT? They are bankrupting people. I called they were rude and did not care. Who and waht can be done? There HAS to me some federal laws concerning this. Who governs the credit cards?

  • Ex
      13th of Jan, 2010
    0 Votes

    Just spoke with Chase to cancel my two cards due to the same ridiculous APR hike to 29.99%. Both CSR and Supervisor was stoic and rude. 30% APR? That is a ridiculous and inappropriate APR to be charging. I will no longer be a CHASE customer nor do I advise anyone to bank with Chase based on their lack of courtesy and the poor manner in which they treat their customers not to mention their unethical policies. Being a WAMU customer for over 12 years, you would think they would show some compassion for their loyal customers and at least consider customer's record and history into account instead of bullying their way to riches. Now that they are one of the largest banks if not THE largest bank, they will use their leverage and power to take advantage of their customers. But I will no longer be a victim of their wrath...I'm taking my loyalty elsewhere. GOODBYE CHASE!!!

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