I came across a rip-off report by a Chase customer in Florida. The customer (hereinafter referred to as “Mad”) has had a Chase credit card for three years and has regularly received promotional checks offering a low, fixed APR. Mad took advantage of the offer and cashed a check.
Mad used the Internet to pay his (her?) credit cards. Since banks will commonly raise interest rates if customers are late paying their bills, Mad diligently logged on every month to pay the bill on time. But Chase changed the due date for the month after he cashed his promotional check, and his payment was late. His phone calls were stonewalled, and he was informed that his interest rate would likely be increased.
Banks can raise your interest rate whenever they want and don’t need a reason. Bank of America once raised my rate, and the customer service rep informed me, “This isn’t a loan; it’s a credit card. You are not using it and not paying down your balance. We don’t carry loans.” So they increased the rate to 24.99%. (There’s more to that story to explain why they raised the rate, but that’s not at issue. At issue is the rep’s logic for raising the rate.)
Consumer Affairs has a litany of complaints against Chase that I offer for your reading pleasure. You can register your own complaint there.
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That’s one thing I do not ever let a bank credit card balance go unpaid. I am agast at the idea of the banks charging %24.99 on any balance. Didn’t the banks get millions from our goverment to help them out. Well now they are getting billions from the pubnlic they need to support there free spending, or what ever they do with there money.I am so pissed off with anything that smells and looks like some bank is going to help me out.
sworry I am getting out of control.
Have a nice day
Geri
Have a nice day