Chase Credit Card Minimum payment Increase to 5%

[tobee43]

Chase stinks. BTW, Nunavut is a territory in Canada.

yes....i really should have mentioned that....you think?

[BKorbust]

Oh yeah... Me too. I love Chase.. No really I do! They were the first to jack my rate up and cut my limit. I found out they cut my limit when I walked in to pay my oil bill. That was real pleasant when the card didn't go through. I insisted they run the card sevral more times. Must be just a mistake... All my other CC's did the same thing within a month or two after that. Geez let's cut your credit limit to your balance or below, increase your interest rate to 29.9%, and double your minimum payment. Come on anyone can deal with that especially with the way the econemy was then and now. I have a speacial place in my heart for Chase, Citi, and BOA.

[shark66]

I have a speacial place in my heart for Chase..

Hmm...I have a nice rusted pitchfork with their name on it...and a bucket of tar to go with it...we'll get feathers along the way...what do you say?

Party like it's ______ (insert the year of choice)...

[Unibrow]

I can probably repost my old response all day from another thread about chase's tactics:

Yep, gotta love Chase. I was good on my payments for all my credit cards for years until they started pulling all their tricks due to the "current economy."

Keep in mind at this point, I was current with all my cards and in very good standing. Chase increased my monthly payment of a low interest "lifetime" apr loan to "help me pay it off faster." When I disagreed, they put me on a 2 year fixed apr, 3 times the amount of the original." They cut limits on all my cards, then decided for the heck of it, closed them all. The other banks saw a sharp drop in available credit limit and increase debt % and freaked out. My credit score drop so low so fast that other banks viewed me as very high risk. They too destroyed pretty much all my available credit limit in the aftermath. I see no point in struggling to pay off these bastards, so am planning my bk journey. Best Business decision ever!

[lorelei]

Holy hell! If I hadn't stopped paying on these already, I'd have to do it now. That would be $1,300 a month for me.

[enuffznuff]

They did it to me too, along with dropping my credit limits and jacking the interest rate. They and everyone else.

If everyone had just left the terms alone, many of us would still be paying. They dug their own hole.

[scorpion35]

They did it to me too, along with dropping my credit limits and jacking the interest rate. They and everyone else.

If everyone had just left the terms alone, many of us would still be paying. They dug their own hole.

yea a sink hole

[clevelandmom]

Oh I LOVE Chase, and BOA, and Citi. I have a special place for them in my bathroom. Chase decided to cut my limit, and then kindly charged me an over-limit fee after THEY cut my limit to below what I spent already. As an added bonus, they increased my interest rate. I don't have to kick myself for making ridiculous payments because those wonderful credit cards made it IMPOSSIBLE for me to make my minimum payments. BLESS THEM! So I quit. I just quit completely. I unplugged my house phone and used my cell only. After a year, Citi sued me and that's what sent us to BK. So sorry Chase, BOA and Citi. You did this to yourselves. I hope you choke on my discharge notice.

[BrokeinMD]

ROFL! Cleveland! I think I'm going to use this big paper pile heap of bills, paid and unpaid from these Big Boys to line my cat's litter boxes!

[JackBondLove]

Chase did it to me in Sep 2009. I had about $40K with them (all at 4-6% "life of the loan" interest rate ), so my total minimum payment to them shot up to $2K. That was the first time that I really thought that I would need to file BK. After considering my situation, and what stuff I would be able to walk away with, I decided to go for it, so Chase only got one month's payment (the very first account I stopped paying was one of the Chase's. ), aside from the 3% recovered by my trustee.

I have a hunch that Chase just wanted to clear the deck of its debtors so that if they were going to default, that Chase could get more TARP money. It was almost as if Chase wanted to play a game of chicken with its customers.

[NewPage]

I don't think I had any accounts affected by this, but my husband did. He has a card that was a balance transfer pay off @ 3.99. His minimum payment was jacked up to 5%, which really stunk. However, we hung in there with his cards and now the balance is less than 2k and the payment is manageable. But for awhile it was about $300-$350 and that was harsh! It is part of what pushed us to have me file.

[tobee43]

well on a regular day...i'm thinking i'm rather a "thoughtful" person...and for all the thoughts i can think...i cannot understand how and why Chase did this to so many...causing them to STOP paying...because how the heck is anyone suppose to come up with money when there is no place to get it...when you payments go from 400 monthly to 1500 monthly....what ....is one suppose to print up the difference as most of us...or at our time hadn't had raises in years!

when i look at people like us...with 40 years perfect credit what was the point...now that i think back tho.....i wonder if Chase knew we were going to loss our jobs and one of us was going to get really ill....although at the time we did use some of our cards for medical expenses but always paid them...

i'm also a bit disappointed in ME...in the old days i would have made up a sign and picketed the bank....now i just sit on the puter and ***** about it! LOL!!!!!!

[DYLAN150]

Yes, I remember the days when Chase would send me these bank checks and some where 1.9% for life or 2.99% for life as long as payments were paid on time. Heck, I took out enough to remodel my old house. (small remodel job) Then bang, chase sends me a new statement saying my payment has gone from 300 per month to 750 or so. I could not beleive it. When I called them about it all I got was a bunch of b.s. I now have that balance down to about 16K or so. I have read stories where people took out 50k at 1.99%, I could only guess what their payments are on that now.

[Freddy03]

Me!! I had a 3.99 interest rate for years with Chase. In 09 I missed my payment due date by 1 day and next month interest rate jacked up to 27.99 and credit limit reduced to balance owed! Monthly payments tripled. Little by little the other cards got notice and they did the same thing.

[tobee43]

yeah...one late payment i heard that before....

but freddy.......we paid EARLY!!! and usually double the min. i think that's why it never made any sense to us....

but now they had to eat it..so i feel better.. and soon hopefully they will also eating your balances for snack...LOL!! and i hope it's so sweet they throw up! i sure do hate them...and not because they are the banks, but what they did to "good" decent people.