Chase C.C

[joh]

I have had a Chase card for a while allway current, late on one payment intrest rate when from 4.99% to 29.99%. The payment was due 2/8 rate increase 2/18 10 days. . It's all most like Chase is trying to bury folks in dept.
Guess theres no turning back. Met with a lawer he said stop paying on CC.
There seams to a lot of paper work ahead.

[tknj99]

yea.. im in the same pre-planning boat.. will be missing payments starting in March on only the cards that have old debt (not used latey). I will still pay minimums on the ones i still have some available credit left on and am still using..

[2live]

My daughter has a citibank card, never been late, pays more than minimum and has never been over the limit. Well this past week she gets a notice that due to economy they are raising her apr to 24%. I guess they want even the one who DO pay to feel the squeeze. No one is safe right now.

[StartingOver08]

Yes, they are raising interest rates and reducing credit lines everywhere - not just Chase, but all of the cc's.

On another board one of the posters has a $10k credit limit and had $3600 outstanding, received a letter first of Jan 2009 reducing limit to $4k. Now, this month they increased his interest rate to something ridiculous (20%+) BECAUSE of his high utilization! And he has excellent credit scores, no lates etc..... The cc co's are creating their own mess.

[jktrading]

I just saw a report on the news about Chase, BofA, and Citi rate jacking people more and more now. Supposedly, they use to go by your credit score before rate jacking, but now it's just "because of the economy."

[jeb]

yea.. im in the same pre-planning boat.. will be missing payments starting in March on only the cards that have old debt (not used latey). I will still pay minimums on the ones i still have some available credit left on and am still using..

Tkn, why keep paying minimum on the ones with available credit left?

As soon as the first late pay hits your credit report, all the others will raise your rates and up interest - no reason to give them your money if you are going to file. - jb

[2live]

WOW, my poor daughter just got another interest rate increase, this time from Target visa! So no consideration for never being late or over limits.

This is just the beginning I'm sure. They want ALL of us to bite the big one.