Comments on: Chase Renegs On Credit Card Promises http://www.topfinanceblog.com/chase-renegs-on-credit-card-promises/ Financial News, Information, and Commentary Tue, 31 Aug 2010 21:44:26 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Mitch http://www.topfinanceblog.com/chase-renegs-on-credit-card-promises/comment-page-1/#comment-1047 Mitch Sat, 10 Oct 2009 15:06:53 +0000 http://www.topfinanceblog.com/?p=440#comment-1047 It is easy to miss those letters, Rich, I'll own up to that. I also know that sometimes they add a bunch of stuff in with the bills, which I'm also bad at reading often and need to be better at. But in this case, Chase has owned up to jacking up rates, and hasn't disputed claims that people have made saying they didn't get prior notice, so that's a red flag. Either way, when your only two options are to pay a drastically high new rate or accept a lower payment rate at a much higher interest rate, since if you just close the account you're stuck at the higher payment rate, that's kind of a blackmail deal that's not fair anywhere you go. It is easy to miss those letters, Rich, I’ll own up to that. I also know that sometimes they add a bunch of stuff in with the bills, which I’m also bad at reading often and need to be better at. But in this case, Chase has owned up to jacking up rates, and hasn’t disputed claims that people have made saying they didn’t get prior notice, so that’s a red flag. Either way, when your only two options are to pay a drastically high new rate or accept a lower payment rate at a much higher interest rate, since if you just close the account you’re stuck at the higher payment rate, that’s kind of a blackmail deal that’s not fair anywhere you go.

]]> By: Rich @ Credit Cards Singapore http://www.topfinanceblog.com/chase-renegs-on-credit-card-promises/comment-page-1/#comment-1046 Rich @ Credit Cards Singapore Sat, 10 Oct 2009 06:43:23 +0000 http://www.topfinanceblog.com/?p=440#comment-1046 Sounds a bit unfair to hike things up by that much but as far as not getting the letters then I'd probably believe the banks that said they did send something out as well. It's easy for people to ignore these letters. .-= Rich @ Credit Cards Singapore´s last blog ..Citi DIVIDEND Platinum =-. Sounds a bit unfair to hike things up by that much but as far as not getting the letters then I’d probably believe the banks that said they did send something out as well. It’s easy for people to ignore these letters.
Rich @ Credit Cards Singapore´s last blog ..Citi DIVIDEND Platinum My ComLuv Profile

]]> By: Mitch http://www.topfinanceblog.com/chase-renegs-on-credit-card-promises/comment-page-1/#comment-936 Mitch Wed, 23 Sep 2009 06:33:18 +0000 http://www.topfinanceblog.com/?p=440#comment-936 Sure, send it to her; I'd love more readers. It's definitely a scary proposition, that's for sure. Sure, send it to her; I’d love more readers. It’s definitely a scary proposition, that’s for sure.

]]> By: Wilson Pon http://www.topfinanceblog.com/chase-renegs-on-credit-card-promises/comment-page-1/#comment-935 Wilson Pon Wed, 23 Sep 2009 06:18:44 +0000 http://www.topfinanceblog.com/?p=440#comment-935 To be honest, Mitch. I didn't aware of this issue, as I'm not the Chase credit card user! However, I heard one of my friends, Kathy who is a former Chase credit card holder is currently facing the problem as you've mentioned on above. She turned to me and asked me for the solution. Maybe, I should forward her this article... To be honest, Mitch. I didn’t aware of this issue, as I’m not the Chase credit card user! However, I heard one of my friends, Kathy who is a former Chase credit card holder is currently facing the problem as you’ve mentioned on above. She turned to me and asked me for the solution. Maybe, I should forward her this article…

]]> By: Mitch http://www.topfinanceblog.com/chase-renegs-on-credit-card-promises/comment-page-1/#comment-933 Mitch Mon, 21 Sep 2009 19:44:32 +0000 http://www.topfinanceblog.com/?p=440#comment-933 Alessandro, that's just not right, and it makes us want to take it out on the people who work at the branches, but of course it's not their fault. It's wrong on so many levels; I hope things change when the new credit card laws go into effect. Alessandro, that’s just not right, and it makes us want to take it out on the people who work at the branches, but of course it’s not their fault. It’s wrong on so many levels; I hope things change when the new credit card laws go into effect.

]]> By: Alessandro Machi http://www.topfinanceblog.com/chase-renegs-on-credit-card-promises/comment-page-1/#comment-932 Alessandro Machi Mon, 21 Sep 2009 03:57:24 +0000 http://www.topfinanceblog.com/?p=440#comment-932 What happened is Chase Bank has indeed raised the monthly minimum payment from 2% to 5% on LOW INTEREST RATE BALANCE TRANSFER OFFERS that have been made in the past few years. It's unethical on so many levels that I have a book coming out called "The Cat who Ate Chase Bank". Even the Credit Card Reform bill of 2009 created a "Chase Bank Proviso" loophole so that they can continue to raise the monthly minimum payment on any account "for the good of the customer". What Chase apparently lobbied for AND GOT was that they DO NOT HAVE TO GIVE YOU AN OPT OUT OPTION. You can however convert your account to a five year pay down plan if you call their proactive department. I have links on my chase bank protest blogs. http://www.daily-protest.com http://www.robotsagainstchase.com http://www.thecatwhoatechasebank.com http://www.bloggersagainstchase.com .-= Alessandro Machi´s last blog ..<a href="http://daily-protest.blogspot.com/2009/09/barack-obama-supports-consumer.html">Barack Obama supports a Consumer Protection Agency, Chanbers of Commerce do not.</a> =-. What happened is Chase Bank has indeed raised the monthly minimum payment from 2% to 5% on LOW INTEREST RATE BALANCE TRANSFER OFFERS that have been made in the past few years.

It’s unethical on so many levels that I have a book coming out called “The Cat who Ate Chase Bank”.

Even the Credit Card Reform bill of 2009 created a “Chase Bank Proviso” loophole so that they can continue to raise the monthly minimum payment on any account “for the good of the customer”.

What Chase apparently lobbied for AND GOT was that they DO NOT HAVE TO GIVE YOU AN OPT OUT OPTION. You can however convert your account to a five year pay down plan if you call their proactive department.

I have links on my chase bank protest blogs. http://www.daily-protest.com http://www.robotsagainstchase.com http://www.thecatwhoatechasebank.com http://www.bloggersagainstchase.com
Alessandro Machi´s last blog ..Barack Obama supports a Consumer Protection Agency, Chanbers of Commerce do not. My ComLuv Profile

]]> By: Mitch http://www.topfinanceblog.com/chase-renegs-on-credit-card-promises/comment-page-1/#comment-930 Mitch Sun, 20 Sep 2009 23:42:01 +0000 http://www.topfinanceblog.com/?p=440#comment-930 Yeah, you got that one correct, Peter; I need to alter that in the post. Thanks. Yeah, you got that one correct, Peter; I need to alter that in the post. Thanks.

]]> By: Peter http://www.topfinanceblog.com/chase-renegs-on-credit-card-promises/comment-page-1/#comment-929 Peter Sun, 20 Sep 2009 23:36:29 +0000 http://www.topfinanceblog.com/?p=440#comment-929 Are you sure it was the APR that went from 2% to 5% and not the minimum monthly payment? Are you sure it was the APR that went from 2% to 5% and not the minimum monthly payment?

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