Chase Bank Stinks!!

Rant mode switch to ON position: ENGAGE!

First, a little background. wife and I got a Chase credit card sometime ago, low fixed 8% rate, zero on transfers etc. We transferred a balance from my old 18% card. So far so good. We always paid on time, usually more than the min because that's the only way to do it. I was laid off in February, still making payments, haven't missed one yet. Then comes a letter in the mail this past May:

Dear Valued Cardholder, Tough economy, recent events, blah, blah. As a result we are jacking up your rate to 15.99% variable. Even though we never were even late on a bill!

So my wife calls them, and the explanation was that it was an across the board thing. Fast forward to this weekend. We moved here in June and finally sold our place in NC. We use what little we made to pay off this card and after checking that the balance is zero, she tries to close it. It went something like this:

Wife: I'd like to close this account please.
Customer Service: May I ask why?
W: Certainly, back in May you guys jacked up my rate for no reason and I don't want this card any more.
CS: Ma'am that increase was an across the board deal affecting millions of cardholders.
W: Whatever, just close it please
CS: Are you sure? Even though you have a zero balance, you should keep it open.
W: But I don't want to. Please close my account. I don't appreciate that my rate went up even though we've never missed or even been late on a payment, so I want it closed.
CS: Ma'am please understand, in this tough economic time, the strong need to take care of the weak. Many people couldn't make their payments, and we raised rates to defray costs. (kind of summarized but it was very preachy)
W: Really, where was our help? My husband was out of work when you guys did this and we still made our payments. How is it my responsibility to help people who can't? We paid our bill but get punished? Please close my account.
CS: You really should keep the account open. And when the economy turns around and people are getting jobs again and spending money again then maybe rates will come back down. And you'll be one of the first in line for when that happens.
W: why not lower back down now?
CS: I can't do that.
W: So I have to wait for a bunch of "if's" to happen? No thanks, please close my account.
CS: Ma'am you really should keep it open.
W: Why is it taking me fifteen minutes to do this? I asked you to please close my account. Do it!
CS: Well actually it's only been about eight min-
W: See?! You're not even listening! No wonder you're business is being run into the ground. CLOSE MY ACCOUNT!
CS: It's closed, m--
W: Thank you and I hope I never have to deal with you and your company ever again for any reason!*click*

Rant OFF

My wife is awesome.

 

Yay for wifey!!!

 

X2...


Chase really sucks. I loved WaMu, but after the takeover switched back to Wells Fargo after some creative overdraft techniques they used.

They held funding on a paycheck of mine for over 7 days (even though the check was good, I know because I am the accountant of the company).

I made the mistake of not checking my balance to be sure it cleared and paid a bunch of bills. I got a letter in the mail from them 4 days later saying my account was negative and I needed to pay back some $132 in overdrafts.

They graciously reversed 2/4 overdrafts, but I am not dealing with that again.

I was debating using the $66 they gave me back to buy ammonium nitrate to blow the local branch sky high.

 

Giver her a big hug and a high five for me. Rep her way also
Oh, ps: prolly not a good idea to piss someone like that off

 

Fuck Chase. Did the same thing to me.

 

The NC house was with WaMu, too. Paid that and the card off in quick succession.

 

Here's a kicker I forgot until reading wolfpack's thread: Just after the rate hike, they upped her credit limit to over 14,000!! Yes thousand. Interestingly, the card is in her name and she hasn't worked since my daughter was born 3 yrs ago.

 

Good on you for keeping to your guns and closing the account and not falling for their crap to keep it open.

Across the board interest raise.... Don't know about you, but I'm tired of paying for everyone else's screw ups and mistakes, etc etc. Where is MY BAIL OUT??? Seems like everyone who was irresponsible got a bail out, so I want to know where mine is.

 

I'm currently working with Chase Bank in an effort to purchase a home through a short sale process where they currently hold the loan on the house. They have had the paperwork since late July. To date, we have not heard one word from them. I have reached out to them a number of times. Their response to me has been that they are too busy and I need to be patient. I'm sitting here trying to give them money and they don't want to talk with me. We all know that if I had my mortgage with them and was late on a payment then they would be up my ass. It's no wonder that all 23% of all short sales go through when these are the people we are dealing with, and foreclosures are at an all-time high. Chase's customer service is non-existent.

 

Amen Impulse! If other people can't accept responsibility for their actions, why do I have to pay the price? I lost my job in February and what did I do? Busted my butt till I found another one, and did what was necessary to take care of my family. Granted that included moving almost completely across the country, but ya do whats ya gotta do.

 

i was late on a payment by ONE day. i paid 800 bucks towards it as well (2500 left). they dropped my 0% rate and charged me 50 bucks late charge. I Called and they have a new policy that they cant reverse it anymore. i have to send a letter in, and state my case, blah blah blah. i have 2 checking accounts and 3 CCs with them. when work got slow i had to open up a few cards to pay my mortgage. well, now i am paying the penalty even though i havent missed a payment in like 3 years with them.

i am going to pay the cards off and get ride of their CCs. not sure what to do about their checking because their online bill pay is so easy.

 

yeah sucks to say its getting like this everywhere. my credit card company hasnt jacked my rate up but even if they do i dont care. i pay my credit card off every month no matter what the balance is. that way i do not have to worry about the interst rates at the end of the month.

 

Chase sucks. Period. They are appropriately named though. Be one day late. They will CHASE you on the phone 20 times that day. And they know damn well once they have been told DO NOT CALL ME AT WORK, which is a FEDERAL law, there ain't a damn thing you can do about it when they do call you all day at work.

 

Banks have shareholders like everyone else. Their costs go up due to losses on mortgages and credit cards, they pass those losses to others. Why is that so strange? Every business does that. Blame the mortgage losses on Chris Dodd and Barney Frank, ACORN, the Community Reinvestment Act and Libtards who want to "share the (your) wealth". The truth is, if you can find a better card rate, then go to that bank and get it. Most people are not nearly as "loyal" as they would like others to think they are: they are economic animals that try to find the lowest costs to themselves.....as they should!

 

Amen!

 

That's the way to do it right there!

 

fuck barney frank and chris dodd

 

oops, I didn't mean to turn this into a political rag. Just citing the prime responsible parties was all I intended.

 

Same piss poor experience with my Chase Circuit City Card which I canceled too. Bought a plasma with 3 years no interest based upon full payment of balance at end of the 3 year term. Got laid off but still made the minimum payments and missed that last deadline with the full intention of paying the balance by less than a week. They tagged on $1400 of accrued interest and had absolutely zero compassion. Account manager was like reading from a manual as she was scolding me. What I should have said was "OK, you come get the TV. It's not worth it." Yes, it's my fault for being careless but they absolutely didn't want to negotiate with the profit they made on the interest.

 

Bank of America pledges halt on card rate hikes

On Tuesday October 6, 2009, 3:41 pm EDT


Companies: Bank Of America Corporation
WASHINGTON (Reuters) - Bank of America (NYSE:BAC - News) said it will not change the terms on consumer credit card accounts ahead of reform legislation slated to go into effect early next year, according to a letter released by a lawmaker on Tuesday.

Christopher Dodd, chairman of the Senate Banking Committee, released the letter, dated October 5, and called on other companies to follow Bank of America's lead.

"In light of the concerns expressed to us by our customers, Bank of America will not implement any change in terms (risk or economic based) re-pricing of consumer credit card accounts between now and the effective date of the CARD Act," the letter said.

(you can blame Dodd, Frank, Pelosi and the other Libtards for the KNEE JERK Card Act which precipitated all these rate increases. Next step: Congress will try to regulate interest rates just like NYC rents until they force banks to do "what they want them to do". It will be a disaster and just the next step in the march toward Socialism.)