Chase Bank Credit Card is Raising Rates Across the Board!
Chase Bank credit card services are raising their rates across the board and I am mad as hell! On inauguration day, I received one very small piece of mail in my mail box. I think they thought I'd overlook it, because of it's simplicity! A**holes! It was 'an important message from Chase Bank'. The message on the outside of the notice said: 'Important Changes in Terms Notice Enclosed. Please Read.' Inside I found a message from Chase Bank. They are raising their APR rates as of March 1, 2009. I can understand the bank raising rates some, but as I read on my eyes started popping out of my head. They are raising their (fixed) rates on their Chase Business cards, from 7.99% to 13.99%! This is on current and future purchases made after March 1, 2009! I am as mad as a hornet! This ought to be illegal in this country. 
 Banks think they own us and they do for the most part. But keeping a promise is keeping a promise. How can they promise you one thing and let you go on your merry way, then change things mid stream. I am frigging about to explode, especially since I'm considered a good customer! How Dare They!!! Even I know that you can't stimulate the economy by raising rates! It's just more bad news for small businesses and the consumer or for anyone who has a Chase Bank credit card! Thursday, January 22, 2009 Immediately, I called the consumer toll free number (found on the back of the Chase Bank credit card), and asked to talk to a supervisor. When the supervisor finally got on the phone, (with that gawd awful music blaring in the background), she told me there was nothing she could do about it. She told me the changes had been made across the board. The decision had been made by their CEO's and it was out of her hands. She also told me that there were no options available for anyone. I reminded her that I had been a loyal customer of Chase bank since 2005. I always pay my bills on time, pay much more than the minimum, and have a very low balance on my account. I am a 'good customer'. I told her that I felt like I was being punished for something I didn't do. After all, the bad economy is not my fault. In fact, it is their fault! Why should I be penalized because Chase Bank made bad business decisions? She just kept repeating the same thing over and over to me, without waiver. In fact, she was cold as ice to me.
I can understand if they felt they needed to raise rates on customers who hold very large balances or who make late payments or have bad credit, but I'm not one of them, damn it! I'm a damn good customer! *@^*$#@$@$#^*!!! Of course, anyone who is put in this position has the option of closing their account. You simply write the company a hand-written letter and tell them you don't agree with the changes. You will still have to pay off your balance(s) but the account will close. You will no longer be able to use your card. That's the good news. The bad news is that it will hurt your credit score! Credit scores are compiled of available credit to you. When you close an account, you lose available credit, and your credit score suffers. At a time when American's are desperately hurting, it doesn't make any sense to raise rates. These decisions are being made by Chase Bank credit card CEO's who want to keep their posh homes and estates. They have no regard for the little people, (like me and you), who are barely getting by. Be it known, I am not a whiner. I do not usually interject my personal opinions on such matters. Maybe I should feel lucky to have credit available to me at all. But that's not the point. What Chase Bank is doing is hurting American's more than they're already hurting! If this makes you mad as hell too, or if you've had the same thing happen to you with any bank or credit card service, won't you share your story? I am asking folks to come forward and tell us how you feel about these rate increases and how it's affecting your life. It doesn't need to be a Chase Bank credit card account. If you've had a rate hike on any of your credit cards or other banking services, and been blind sighted like I was, I want to know! Please fill out the form below and share your experience. Have You Been Affected by Banks Raising Rates?Do you have a story about this? Share it! What Other Visitors Have SaidClick below to see contributions from other visitors to this page...
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Not rated yet I am presently researching things I can do to amend this, or to make my politicians aware of this travesty and injustice. It burns me up and I am livid right now, but I recall the old adage. 'Don't get mad, get even'! And that's exactly what I plan to do! As I get more information on how to correctly make a complaint against the company, I'll be including that information on this page. God Bless AmericaBack to Top of Page Go from Chase Bank Credit Card Back to Homepage
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