I wouldn't trust CHASE

[StillHope]

I barely escape a huge trap...

Before you read any further

I'd like to say that I am perfectly aware of the right of a credit card

company to change the agreement at any time.

But it's not WHAT Chase credit card did,it's

HOW they did it.

I heard less reputable companies do it to risky clients :

wait for the right moment and set a trap..

I would consider myself a very reliable customer of Chase bank for many years.

I financed a new vehicle with them 5 years ago,paid it off in less than 2,never late.

For many years I had 5.9% fixed rate with 1 % cash back bonus.

And I didn't have any debt - paid my balance every month.

Late on October I charged all my shipment and moving cost to Hawaii

on the card and in November paid 3K more than was on the

statement,knowing what the next statement will be.

Still 5.9% fixed.

Guess what?

My next statement had more than double APR

and VARIABLE rate into the bargain.!!!


Anyway,they claimed that they sent me a letter about change of terms -BS! Never received it.

So I was lucky to catch it on time,closed the account and as an "opt out" option kept 5.9% fixed on the remaining balance.


Another thing they did recently : "Sorry,our website will be closed
(3 days before the payment due).
Usually pay a day before.Could have been the late charge
(Who is checking their stupid website every day?

Again,it's not about WHAT.

It's about HOW they did it.

(In the past when a friend of mine told me the similar story (the moment she made a much bigger charge than usual,they dramatically changed her APR),

I asked Chase on a couple occasions about that situation.

They swore they only do it to people who default on payment or being late.
We are talking double the APR here,not some adjustment to the market..

I don't know about you,but I'd never deal with Chase again.

[NWGUY]

I don't think any of the credit card companies can be trusted. Only out to make a buck. Their greed will be their downfall.

[John S. Rabi]

We probably all have our stories. I got screwed by Capital One seven months ago. I charge less than 30 cents a month to the card every month ever since! (I use electronic bill paying and pay it off in full!) [][][]

Aloha,
John S. Rabi, GM,PB,ABR,CRB,CM,FHS
808.327.3185
johnrabi@johnrabi.com
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"

[Royall]

30 cents????

Royall

[John S. Rabi]

quote:

---

Originally posted by Royall
30 cents????Royall

---

Well, it was 14 cents last month! I had a coupon for a free snadwich and all I had to pay was the tax!

Aloha,
John S. Rabi, GM,PB,ABR,CRB,CM,FHS
808.327.3185
johnrabi@johnrabi.com
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"

[Royall]

Way too funny John!

Royall

[ric]

I can sympathize with wanting vengeance on Capital One, but those small charges hurt the merchant more than they hurt the credit card company. The credit card processor and credit card company get their fee-per-transaction either way, and may be more than the amount charged if less than 30 cents.

btw, we keep a Capital One card just for overseas travel, as it's the only card we know of with no foriegn currency conversion fee.

[John S. Rabi]

quote:

---

Originally posted by ric
btw, we keep a Capital One card just for overseas travel, as it's the only card we know of with no foreign currency conversion fee.

---

That's exactly the reason why I keep that card too. When I visited Japan, Taiwan and Bali in May I called them before I left to give them all the details, what countries I will visit, etc. Three days before I left I got a note from them saying they reduced my credit limit from $30,000 to $2,500! I called them right away to protest since my credit score is over 800 and I never missed a payment, but they didn't care. Needless to say, the $2,500 credit limit wasn't enough for my trip, so here is my vendetta. I charge a few cents every month and they have to send me a statement for a few cents balance every month!

Aloha,
John S. Rabi, GM,PB,ABR,CRB,CM,FHS
808.327.3185
johnrabi@johnrabi.com
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"

[dcl]

Please don't buy anything from me. You would end up costing me .30cents for the swiped transaction plus a rate of 1.5 to 3.99 percent, depending on the card you use, and I pay this for the "privilege" of being able to process credit cards for my business. And legally per visa/mastercard, I can't decline to take your card, no matter how small the charge. It doesn't mean squat to the credit card company, it is the poor merchant that gets to pay for it.

[missydog1]

and back to Chase, I agree they are the worst of the majors ... and they can be arbitrary. Not that any of them are warm and fuzzy, but Chase is the only one that I've had change my terms or credit limit for no real reason, i.e. nothing late and not over limit. If you are playing by the rules of your account, they ought to leave it alone. They will also play games with how they apply payments so that you end up paying more interest when you are paying something off. I'm done with Chase too.