Chase Bank Fixed Rate Change

My notification was that the fixed rate I had with Chase Bank Credit Card was now going to be variable rate instead. It will go up as index rates go up. I am paying off my card and will never use it again. Nor will I ever use Chase Bank.

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I gotta tell ya, I saw your title (before I saw the comment) and I just shook my head. What, do they think we're a bunch of idiots? Maybe they're trying to go bankrupt or maybe they can't wait to get some bail out money. Who really knows what all's in that plan or who will benefit from it? If they do, I wonder what their cut will be? (If anyone knows, please post a comment!)

As a people world wide, we are told to hold our credit rate dear and watch over it carefully. Lending institutions have always given you options, even in a downturned economy. In fact, my business partner (yes, I have another job too!), was just offered a better rate on his mortgage, or at least given notice that there were 'more options now than before' when he applied. It's a smaller bank that's still doing well obviously.

Maybe that's the core problem.

Smaller = better

Larger = a**holes

These institutions have gotten so big, that they can't control (themselves) their holdings or ride with the market changes. Really makes you regret all the purchases you made with their credit! Many of us could have probably afforded to pay cash for some stuff we bought, but we're told that to improve our credit, we're also supposed to charge things to establish it.

Seems like a lot of mixed messages to me. How can we improve our ratings when the banks don't keep their promises to us. After all, last time I checked, a promise was still a promise, isn't it? A**holes!