Chase Bank Screwed Me Too!

by Renee
(California)

I have 2 cards that I got through WAMU. I've had both for several years and have never had an issue. Last year I went green on my statements. Well around March I got a statement in the mail, I opened it up only to see my APR had went from 8.99% to a whopping 28%. I called and was told I was sent a notice with my January statement and since I didn't "opt out" nothing could be done. I explained that I never received this notice, that didn't seem to matter. I asked how this was legal. I pay more than the minimum anytime I can and am never late. They still could not give me a reason. I said I would transfer the balance and never use the card again.

Here we are now May and I just got the same BS notice for the other card I have with them. When I inquired about the "opt out" I was told that my account would be closed but would remain at the old terms. What the $#$%Q#Q#??? I don't want my account closed as it's one of my longest standing cards, but I have no choice. I refuse to go from an almost 0% apr to 28%.

I really don't understand how they can get away with this, and I'm furious!!!!!

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That is devastating Renee! What a low blow! There seems to be no end in site!

I thought that the new proposals Congress is supposed to pass by June of 2010 would help us, but they really don't do as much as I'd hoped they would. IMHO, a fixed rate should be just what it suggests. Fixed, daggone it!

How these banks think they can get away with this, is beyond me. I am not usually in favor of class action law suits, but think that one should be done in this instance. This should be illegal in this country.

Cut backs in services, job losses, and higher prices in this economy suck! Its hard enough paying off what we've charged when rates were more inline. To move from 0% to 28% is friggin ridiculous! How dare they?

But they do dare, and they are getting away with it.

Right now, I have one card. That's it. Used to be I had more than a few, with great rates on all of them. I have been fortunate enough to pay all of them off just about, but many people aren't as fortunate! It's like getting caught with your pants down when you didn't do anything wrong, and its a real dilemma! Thanks for your post, and good luck! Carolyn