damn
Premium
join:2002-10-23
nyc
| Chase has gone mad. Raised my APR by 3 times First they raised APR from 9% to 24% 3 months ago.
Now they raise it even further to 28% ??
I don't understand, they just want me to see me gone? I only have about 500 bucks of balance on it (limit is 12000), my credit score is hovering around 750. This was originally WaMu credit card and I never had any issues with them back when they were WaMu.
Oh well fuck them too, AMEX is all the way for me now.
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The best thing about piracy is the music in the keygens. | |
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jadinolf
I love you Fred
Premium
join:2005-07-09
Ojai, CA | Re: Chase has gone mad. Raised my APR by 3 times Smart move.  | |
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TearAbite
join:2001-07-25
Rancho Cucamonga, CA | vote with your checkbook.. pay them off, then take your business elsewhere..
(now i gotta go run and look at my chase, former Wamu account) | |
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IT Guy
Ow, My Balls
Premium
join:2004-07-29
Las Cruces, NM
clubs:
 ·Comcast
| Re: Chase has gone mad. Raised my APR by 3 times said by TearAbite  :vote with your checkbook.. pay them off, then take your business elsewhere.. (now i gotta go run and look at my chase, former Wamu account) Same here. I loved WaMu. I despise Chase and if they pull this shit on me, it's bye-bye time. There definitely needs to be a cap on how high interest rates can go, it's highway robbery, not capitalism.
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My time is a piece of wax, falling on a termite, that's choking on a splinter. --Beck | |
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hitachi369
Embrace Your Rights
Premium
join:2001-10-03
Grand Rapids, MI
 ·AT&T U-Verse
| Re: Chase has gone mad. Raised my APR by 3 times said by IT Guy :There definitely needs to be a cap on how high interest rates can go, it's highway robbery, not capitalism. You're not being forced to do business with any credit card company. | |
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IT Guy
Ow, My Balls
Premium
join:2004-07-29
Las Cruces, NM
clubs:
·Comcast
| Re: Chase has gone mad. Raised my APR by 3 times Did I say I was being forced to do business with them? Still doesn't excuse the fact that many businesses are simply unethical under the guise of "doing business".
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My time is a piece of wax, falling on a termite, that's choking on a splinter. --Beck | |
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avd706
insert annoying animated gif here
Premium
join:2003-02-06
Union, NJ
| said by hitachi369 :said by IT Guy :There definitely needs to be a cap on how high interest rates can go, it's highway robbery, not capitalism. You're not being forced to do business with any credit card company. Lending is regulated. There already are usury laws, the gov't is just fine tuning credit card rules already in place. | |
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IT Guy
Ow, My Balls
Premium
join:2004-07-29
Las Cruces, NM
clubs: | Re: Chase has gone mad. Raised my APR by 3 times Yeah, loosely regulated. Wish I had lobbyists and millions of dollars to bribe politicians with, in order to push my agenda.
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My time is a piece of wax, falling on a termite, that's choking on a splinter. --Beck | |
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Mr Neutron
Hopped up on what you mopped up
Premium
join:2005-05-30
Gorham, ME
| Re: Chase has gone mad. Raised my APR by 3 times said by IT Guy :Yeah, loosely regulated. Wish I had lobbyists and millions of dollars to bribe politicians with, in order to push my agenda. Sounds like someone's catching on to the true nature of regulation. 
When all is said and done here, the only thing that will actually have happened is that some cost-shifting will have taken place. That is, the card companies will likely make the same amount of money, with the only thing different being the particular consumers the money is extracted from.
What's even better is that a lot of the people who work for the Feds end up going into the private sector, working for the same firms that their former bosses are (ostensibly) supposed to be regulating. Which can have a dramatic effect on the outcome of lobbying efforts to say the least.
But hey...it's all honest and aboveboard! 
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mmmmmmm
@rr.com
| Check fast, since my account was a WAMU and just found out that they increased my account to 27.99 percent up from 11.... without cause! I called my other card (Capital One) and wanted to do a transfer only to find that they had hiked that card as well to 24.99 percent APR! What is going on? Will the recent legislation make them lower this? | |
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Greg_Z
Premium
join:2001-08-08
Springfield, IL
·Comcast
| Next time, listen to people when they say that having Credit Cards are bad news, and no matter what, companies want your money. Worst thing is, you do not need a credit card other then to state that you have a piece of plastic advertising a bank/financial institution that is ran by crooks.
»www.bankrate.com/brm/news/cc/200···e_a1.asp
»www.creditorweb.com/articles/goo···tes.html
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57721182
Premium
join:2009-05-10 | Why not just pay all your credit card bills on time and in full? | |
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Greg_Z
Premium
join:2001-08-08
Springfield, IL
·Comcast
| Re: Chase has gone mad. Raised my APR by 3 times said by 57721182 :Why not just pay all your credit card bills on time and in full? That is why his rates jumped. The CC companies classify those that keep a zero balance "Deadbeats". Now, it is not just those that cannot pay off the balance, but those that keep no balance on their card high Interest Rates. Looks like lots more people are going to be cutting the card, and learning how to put money away for those items they want, and learn to live with a Debit Card.
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I threw out the map a long time ago. Now I follow my own direction! | |
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| | TurtleFan
join:2003-05-03
Wyckoff, NJ
| Re: Chase has gone mad. Raised my APR by 3 times I went with Wamu BECAUSE I didn't need a minimum amount in my account. Why should they care if I have no money in it....Isn't it all virtual anyway? It's not like they have a lock box somewhere with my money in it in one bank.
I absolutely refuse to get a credit card...it's just one big scam to get you to pay more, even if you use it wisely. Debit works just fine for me. Buying only when you have the money to buy... | |
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| | nocannothave
join:2006-10-14
Kennewick, WA
·Charter Pipeline
 ·Verizon Online DSL
| said by Greg_Z :said by 57721182 :Why not just pay all your credit card bills on time and in full? That is why his rates jumped. The CC companies classify those that keep a zero balance "Deadbeats". Now, it is not just those that cannot pay off the balance, but those that keep no balance on their card high Interest Rates. Looks like lots more people are going to be cutting the card, and learning how to put money away for those items they want, and learn to live with a Debit Card. I've had an HSBC Mastercard for 20 months now with a zero balance. Still at the 20+% rate I started with. I use it, then pay it off when the bill arrives. | |
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Gemologist
Premium
join:2001-11-15
USA
clubs:
| Re: Chase has gone mad. Raised my APR by 3 times said by TearAbite :I must have a CC because I deal with a few companies (for my business) that only take CC payments.. I also use a CC for convenience and protection when buying things online.. again - credit cards arent evil, their misuse is. Exactly! In today's day and age one HAS to have a credit card, period, no ifs, ands, or butts. Most online shopping places ONLY accept credit cards, traveling.. every Hotel requires a credit card on file for payment/damages/security/etc., rent a car... truck...uHaul... CC required, rent just about anything and a CC is required, no way one can live without a credit card unless they order nothing online, do no traveling requiring staying in a hotel, renting no cars or anything else ever, etc.
Nothing wrong at all with credit cards, it is how you use them that can make them wrong. But irresponsible use of ANYTHING is a bad thing!
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Images are Copyrighted and use is NOT
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| | axus
join:2001-06-18
Washington, DC
·Verizon Online DSL
| Re: Chase has gone mad. Raised my APR by 3 times said by Gemologist :Exactly! In today's day and age one HAS to have a credit card, period, no ifs, ands, or butts. Most online shopping places ONLY accept credit cards, traveling.. every Hotel requires a credit card on file for payment/damages/security/etc., rent a car... truck...uHaul... CC required, rent just about anything and a CC is required, no way one can live without a credit card unless they order nothing online, do no traveling requiring staying in a hotel, renting no cars or anything else ever, etc. or a debit card. The only financial argument for using a credit card is to improve your artificial number by having one. | |
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Thespis
I'm not an actor, but I play one on TV.
Premium
join:2004-08-03
Keller, TX
| Re: Chase has gone mad. Raised my APR by 3 times said by axus :or a debit card. The only financial argument for using a credit card is to improve your artificial number by having one. Most car rental places will not take a debit card.
I had a debit card and found some unauthorized charges. It took about a week to get my money back. No thanks...
We pay ours off every month, but would have no problem functioning without it. We can cancel and just use cash any time.
I'm a Dave Ramsey fan too Greg_Z but he's not Jesus. Not everything that comes out of his mouth is the gospel... | |
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Greg_Z
Premium
join:2001-08-08
Springfield, IL | Re: Chase has gone mad. Raised my APR by 3 times Suze Orman states the same thing. Dump the debt, and do not depend on CC. Also, forget about that artificial number, because all it does it bloats egos.
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I threw out the map a long time ago. Now I follow my own direction! | |
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Thespis
I'm not an actor, but I play one on TV.
Premium
join:2004-08-03
Keller, TX
1 edit | Re: Chase has gone mad. Raised my APR by 3 times said by Greg_Z :Suze Orman states the same thing. Dump the debt, Dumped.
and do not depend on CC.
We don't "depend" on it. We use it as a tool. We don't have to; we choose to.
Also, forget about that artificial number, because all it does it bloats egos.
Well, that and allow you to get a good rate on a mortgage... Or should everyone save up to pay cash for a house?
Credit cards are "bad" in the same way that guns are "bad". They are tools which, in the wrong hands can cause a great deal of damage | |
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Greg_Z
Premium
join:2001-08-08
Springfield, IL | Re: Chase has gone mad. Raised my APR by 3 times You can still get a good mortgage rate without having Credit Card history, and just by keeping your bills & debt in check.
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I threw out the map a long time ago. Now I follow my own direction! | |
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Thespis
I'm not an actor, but I play one on TV.
Premium
join:2004-08-03
Keller, TX | Re: Chase has gone mad. Raised my APR by 3 times ...but you can't get a good mortgage rate without a decent "artificial number". | |
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Greg_Z
Premium
join:2001-08-08
Springfield, IL
·Comcast
| Re: Chase has gone mad. Raised my APR by 3 times said by Thespis :...but you can't get a good mortgage rate without a decent "artificial number". We have a good rate, and that was with my wife's credit being in the 500's when she got it. So again, do not listen to what the banks tell you, shop around. And our payments are about 5% of her income for something that you would probably classify as being a starter home in TX, but in our area, is considered reasonable for the neighborhood that we live in. Median income in our area is anywhere from 50k to 150k.
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I threw out the map a long time ago. Now I follow my own direction! | |
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Bobcat
Premium
join:2001-02-04
Bedminster, NJ
·Verizon Online DSL
| said by Thespis :...but you can't get a good mortgage rate without a decent "artificial number". Absolutely correct. When I did my refi, the person at the bank said, "The first thing we do is pull your credit report, and we'll know right away if you'll get the loan."
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It's nice to be important, but it's more important to be nice. | |
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Greg_Z
Premium
join:2001-08-08
Springfield, IL | Re: Chase has gone mad. Raised my APR by 3 times And look where the banks got by choosing those they want to give, that cannot/will not pay, and those that can/will pay, but they choose not to give.
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I threw out the map a long time ago. Now I follow my own direction! | |
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Thespis
I'm not an actor, but I play one on TV.
Premium
join:2004-08-03
Keller, TX
| Re: Chase has gone mad. Raised my APR by 3 times I would love it if banks and mortgage companies used actual facts to assign risk and arrive at an interest rate. The fact is that banks and mortgage companies use credit scores and that's probably not going to change any time soon.
I'm going to take good care of my score until the day that it becomes obsolete. Just like the rest of my tools. | |
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Greg_Z
Premium
join:2001-08-08
Springfield, IL | It is now a bad thing to have a CC. | |
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damn
Premium
join:2002-10-23
nyc
| I pay off balances rigorously. At some point it was maxed out and then 6 months later I paid it off completely. Now it's just day-to-day purchases. The 500 I have are from 2 trips to costco and a new camera.
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The best thing about piracy is the music in the keygens. | |
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Combat Chuck
Too Many Cannibals
Premium
join:2001-11-29
Erie, PA
| Hey, you all (meaning most of the general public) complained to the government. The government responded and now you (meaning everyone) get to pay for the irresponsible dolts out there who bitched about the evil credit card companies (and also can't balance a check book or know what their credit limit is or any of the stuff the credit card companies tell you they will do or be bothered to save for that high screen TV, Xbox, and car they can't afford).
»blogs.consumerreports.org/money/···red.html
Yay the consumer wins... and by wins I mean gets to pay more to use credit. I can't wait till this vindication spills over into the loan market and we get to win there too.
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Kibbles
Premium
join:1999-07-31
Mission Viejo, CA
| Prime Rate plus 23.99%..wow...if the prime ever goes back to 10-14% ...33.99% to 37.99%...
Same thing happened to my Chase card...all I am keeping it for is to keep my credit score up until I purchase a house.
I opened up a Teachers Credit Union Visa Card and so far its rate is 11%.
I heard that some CC companies are going to start charging interest the moment you make a purchase...no more grace period.
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»www.angryrenter.com/ | |
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tcope
Premium
join:2003-05-07
Sandy, UT
·Comcast
| Chase did the same to me... bumped mine from 10% to 13%. I called and they told me it was due to the current financial situation (hum... people are making less so you raise their rates?). I have it down to $200 right now and pay about $2.00 in interest. I plan on taking it down to about $25 and cost them money each month. Paying off the account does not cost them anything. Just close the account with a balance and let their charges rack up! | |
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HardwareGeek
join:2003-11-15
Brooklyn, NY
| All the people I know who have gotten a similar notice (Friends got one from Capital ONe and another from HSBC and my sister got one from Citi). They aren't using their cards but have a large balance on them and have been paying more than the minimum each month.
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Email/MSN: Michael at hardwaregeeks.comAIM: MikeR35292 | |
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tim_k
Buttons, Bows, Beamer, Shadow, Kasey
Premium
join:2002-02-02
Stewartstown, PA
 ·Millenicom
 ·WildBlue
| They were talking about this on a radio talk show today. I pay all of my off every month, but from what I hear, they may be adding all kinds of fees and adding interest from the day of purchase. One guy who called in said when he called his CC company to complain they said they were doing it to make up for all the losses from the dead beats. Yeah, punish your good customers, that's great for business. While it doesn't really affect me those kinds of interest rates should be illegal, that's loan shark rates. If they start charging interest from day one and tack on other fees to get more money out of me, I'll have to look at using my debit card instead and see if I can avoid the fees. It's that or resorting to using checks for everything.
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RIP my babys Buttons 1/15/94-2/9/07 & Beamer 7/24/08, Buttons, Buttons video, Beamer
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KeepOnRockin
Music Lover Forever
Premium
join:2002-11-08
Beaverton, OR
·Comcast
1 edit | Chase has affected a lot of cardholders with these rate hikes.
They raised my father's Chase card's interest rate up quite a bit (though he has good credit and never missed/late payment).
Heck, my own Chase account was closed down by the company entirely (my credit is good as well with no missed/late payments).
I don't really mind though. I was considering closing that account once I got it paid off anyways. Now, once I pay it off, it saves me a phonecall to close it. | |
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dvd536
as Mr. Pink as they come
Premium
join:2001-04-27
Phoenix, AZ
| Chase did this to me: because i don't carry a balance and use my card not too often decided i don't need my 20K line. guess what? that drops my score from 805 to 770 and one after one i get the "i'm getting screwed letters" from my other cards[lines drop/rates jacked] and i was late on NO CREDIT AGREEMENTS!
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I guess being considered a "deadbeat" can be costly.
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When I gez aju zavateh na nalechoo more new yonooz tonigh molinigh - Ken Lee | |
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cableties
Premium
join:2005-01-27
·Verizon FIOS
| Re: Chase has gone mad. Raised my APR by 3 times I'm in total anger mode here.
I got the same with Capital One on two visas (One is business card with low credit but balance forward, and other is a card I paid off but TOLD by Capital One NOT to close but leave open...no balance...supposed to mkae credit score look good...wtf!).
I called trying to reach a supervisor but got run around. Either give me introductory rate, or I'm going to be one of those "dolts" or "deadbeats" and effem. I don't care about some credit score when I have a great mortgage and no car payment needs. I understand that if I don't pay for 3 months, I get bumped to their collection group where I can negotiate a payoff ONE THIRD what I owe. I can keep letters of this ordeal and when time comes that my credit does affect some home borrowing, I can argue that the banks unfairly raised my interest without due process... (I can blame the economy just like everyone else).
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Airline0wnerFTW
@anonymouse.org
| And So?!!
I have 6 Major Bank credit cards and 3 Store Branded Credit cards and I DO NOT HAVE any problems with it.
I Don't give a damn even if they put a 50% APR on my cards because I ALWAYS PAY IN FULL AND ON TIME.
Please... Credit Cards a BAD THING TO HAVE? Try to tell that to me face to face and i will give you some whooop-ass financial lesson on the spot!!!
Credit Cards for me is a life saver... I DONT Need to bring cash with me even when going to other countries and I get to have a FREE 30 to 45 days loan!
Not to mention the FREE rewards and Cash backs that I am getting.
Go figure that out smart-pants! | |
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See 15 replies to this post |
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Bobcat
Premium
join:2001-02-04
Bedminster, NJ | Capital One is increasing my APR from 2.67% to 9.99%. | |
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koam
Pink Pecker
Premium
join:2000-08-16
East Puddle
clubs: | if you have so much experience with credit cards, why then didn't you pay your minimum payment well ahead of time every month as you agreed to? the minimum payment is normally very low and the easiest way to prevent rate increases. | |
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avd706
insert annoying animated gif here
Premium
join:2003-02-06
Union, NJ
| Re: Chase has gone mad. Raised my APR by 3 times said by koam :if you have so much experience with credit cards, why then didn't you pay your minimum payment well ahead of time every month as you agreed to? the minimum payment is normally very low and the easiest way to prevent rate increases. The anger is because this isn't happening anymore. The banks have broken the social contract. You pay and all is good. Now everyone is getting fucked and why? Because they can. That's all this is. It is a business now, and the model is to squeeze as much as they can from you. | |
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koam
Pink Pecker
Premium
join:2000-08-16
East Puddle
clubs: | Re: Chase has gone mad. Raised my APR by 3 times Please identify one sentence of your reply that makes sense. Thanks. | |
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avd706
insert annoying animated gif here
Premium
join:2003-02-06
Union, NJ
| Re: Chase has gone mad. Raised my APR by 3 times said by koam :Please identify one sentence of your reply that makes sense. Thanks. If you insist:
#1The banks have broken the social contract. #2
You pay and all is good. #3 Now everyone is getting fucked and why? #4It is a business now, and the model is to squeeze as much as they can from you. | |
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Bananas
Premium
join:2004-08-18
Santa Barbara, CA
| Use a prepaid credit/debit, I have a Greendot with the premier account(wooohoo) and I use it both ways. They charge 7 bucks a month, plus every time you reload is 5 bucks. 2500 dollar limit, but it works for every purchase online. FICO score....what's that lol
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I want to die peacefully in my sleep like my grandfather, not like the other people in his car who were screaming. | |
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kcazzie
One Of Jerry's Kids
Premium
join:2000-08-13
Morton Grove, IL
·AT&T Midwest
1 edit | AMEX is no better... In fact I think they are all the same... I've been AMEX Gold card holder for years and AMEX CostCo card holder ... About five months ago I received a letter from AMEX that they are lowering my CostCo card from 22k to 10k for a reason that made no sense... In fact they me feel like I was a low life... I had no balance and use the card a lot... Like I said this made no sense so I went to checkout what others were saying on the PC... And I wasn't only one, looks like right when this recession started they were lowering everyone's balance which is fine with me but the way they went about doing it was just terrible... I wish I could fine the site...I can't put into words what stuff they did to their customers... Ppl had their cards balances cut and were not told and went to make purchases and you guessed it they were declined...
Here's one site I found but it's nowhere as bad as the one I found months ago...
»www.badcreditcards.org/American%···ress.htm
Edit- This what I'm talking about; mine was somewhat like this... I made a major buy and then paid it off within two months and then they cut my balance ... The funny thing is, they were the ones that kept upping it...!!!...
Dino (from »www.badcreditcards.org/American%···ress.htm)
Complaint_against: AMX
Complaint:
"Watch your credit limit. AMX will change your limit. If you are carring a balance and make a big payment. AMX may drop your limit without notification. It happened to me I have had the card for 6 years never missed a payment and alway paid the entire balance or very close every year. I did the same this year and they droped my limit from $4500 to $800.00. Which got my attention. So I immedatly ordered my credit report from Experian they very same company they use to check this out to see if this was Identity theft and I verified this is the same information that everyone sees when they review a credit report. I my score was 769 and I found no discrepancys or public records. So I called AMX and it took 8 hours and 15 calls no one would give me any straight anwsers. Heres is what they told me. 1. You have a high debit to credit ratio or I descrepacy and public record with experian and that is why we lowered your credit. Which is Bullshit. Keep in mind I have the same report t!
hey have in front of me, so I asked what is the public record. They said they don't know and call Experian. I called Experian and they said my credit is fine and the do not have anything on public record. The CS rep at experian was very cool she told me that AMX is lowering credit limits on people who carry a balance , because they are afraid that you won't pay the balance and screw them out of their money. Amx is making bogus excuses to the card holders to cover there losses from bad investments junk bonds, and bad mortgages that defaulted. So they are shoreing up credit on the cardholdser, so the outstanding debt does not look so bad on there records. The funny part was I canceled the card paid in full and went to visa and had them reviewed my credit and also asked them about any issues or public records. They said your records and credit is almost perfect and they were using the same report AMX has. AMX lied to me and will lie to you. VISA gave me a $15,000 limit. AMX is !
having finacials issue of there own and are punishing the good and loyal cardholders for their Mistakes. Beware if you carry a balance. I will never have another AMX card as long as I live." | |
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BabyBear
Keep wise ...with Night-Owl
join:2007-01-11
| Re: Chase has gone mad. Raised my APR by 3 times said by jjoshua : to offset the lost fees that they used to charge their riskier customers. YES WE CAN!* How about just denying the risky credit??? Or maybe it because they just want to trap you into paying monthly payments for the rest of your days. Got to get that stock price pumped back up!
*but that doesn't necessarily mean we're going to. | |
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