chase increase

[junker]

i think chase just helped my roommate make her decision on which credit cards to stop paying on...today she got a pamplet from chase increasing the apr...and from what i read it says they are also going to somehow raise minimum payment..i have heard they all are going to do something like this...anyone have their minimum payments increased yet?

[andy158]

How about doubled plus! That is what pushed me over the edge and got me here. Chase was one of the worse ones. Had a card with a $2800 balance on it and the minimum payment skyrocketed to $280/mo. That is higher than my car payment for my 2007 Ford Focus! None of my card apr's were over 15%. Then when Chase started it was a chain reaction of rate and payment jacking. You know the rest.

[drowningNdebt]

dang that's crazy!

[Flamingo]

Everyone with good or bad credit has been receiving notices of increased rates and/or fees associated with their account. That is all due to the banks having to comply with all the government credit card rule changes which take effect shortly. Those with bad credit could probably see rates/fees jump higher than those with better credit. The banks are increasing rates/fees now so they will not be hit too hard by the changes and it's all legal. If one doesn't want any of those changes/increases, you can close the account

[AMISLANDER]

Paying mine off totally.

[debtprison]

Send them a modified version of their own letter to you using the same language say something like "due to an evaluation of your recent decision to raise minimum payments requested, interest rates, as well as your general business practices....in addition to my financial situation and in accordance with my policy and terms I have decided to lower the minimum payment that I will remit to you on a monthly basis to ZERO dollars and ZERO cents ($0.00). If you would like to discuss this matter further please send correspondence to ... Thank you for giving me money and being a valued creditor. Very Sincerely Yours,"

[eliminator97]

Send them a modified version of their own letter to you using the same language say something like "due to an evaluation of your recent decision to raise minimum payments requested, interest rates, as well as your general business practices....in addition to my financial situation and in accordance with my policy and terms I have decided to lower the minimum payment that I will remit to you on a monthly basis to ZERO dollars and ZERO cents ($0.00). If you would like to discuss this matter further please send correspondence to ... Thank you for giving me money and being a valued creditor. Very Sincerely Yours,"

That is a great way to respond....I'll bet just typing it out would make me feel better!

[PacificBlue]

Send them a modified version of their own letter to you using the same language say something like "due to an evaluation of your recent decision to raise minimum payments requested, interest rates, as well as your general business practices....in addition to my financial situation and in accordance with my policy and terms I have decided to lower the minimum payment that I will remit to you on a monthly basis to ZERO dollars and ZERO cents ($0.00). If you would like to discuss this matter further please send correspondence to ... Thank you for giving me money and being a valued creditor. Very Sincerely Yours,"

May we have permission to copy this and use it to actually send to our creditors? We love it! (I know, it would not be a good idea, but an awesome read).

[momisery]

Great job.. I really enjoyed that. Where I work, for a bank, one of the bankers on the other side had a pretty tough time of it a couple years ago. Her husband got really ill, and did not die.... which is a ticket to debt prison in the this country. Anyhow, her folks helped her out so she did not have to go BK and she managed to survive the inital debt load. That was two years ago, and their home is paid off and all the bills paid except the car expense of course, and medical. He medical is now eating them alive again. But she is paying on time still. Our own bank raised her interest rate on her card which she promptly paid off. Geesh,,, give me a break here for gosh sakes. The cost of montly insurance now is too much considering his income is SSD and hers is her at the bank. So, if they get one more huge bill she could be in trouble. But she was on time, had little debt, and worked for the company... one would think that would be enough.

[junker]

well..its official..she is telling chase what they can do with the increase..and she decided to let most other cc.s go with on the buddy plan...she is also telling barclays ,b of a, and dell what they can do with rate increases...barclays just sent notice raising to over 30% just for over limit...never late....probably will keep crap1 unless they lower her limit..then it will go also...since she is also collection proof..and properly medicated..she really dont care....but going to get a majic jack phone...and dump the land line...as between the calls for me...and now her it will be literally non stop calls.....anyone have good luck with majic jack????????

[OweTooMuch]

I had never been late on my Chase. Chase raised my interest about 5 times all the way up to 29% and then closed my account on me. I was heartbroken. I was left with an almost $600 min payment a month. I called them up and they put me on a hardship plan for 5 years at around 2% interest with payments just under $300. I am trying to make this new plan but even at the reduced rate it is getting very difficult.

[OHBOY]

'junker' quoted: ..."..and properly medicated..she really dont care...."

now THAT'S funny !

[CanBreathe]

Chase was the first heat attack that we had. We thought we were prudent in doing a balance transfer and locking in at 3.9% for the life of the loan. Well when the letter came we quit patting ourselves on the back. They kept our 3.9% but increased our minimum monthly from $409.00 to over $1200.00 per month just as my husbands company went belly up. I called and an East Indian lady at Chase told me I had better pay it or else terrible things would happen!

Well too bad now for Chase they are holding the $20,000 bag and we just had our 341. Things are looking up!!!

[frogger]

Paying mine off totally.

Me do. I filed for that personal bailout package that congress had written into law a couple hundred years ago.

[PacificBlue]

This is our favorite thread. We have to wonder what the bone heads where thinking when they sent out all those letters. Somewhere in the back of my mind I keep thinking they wanted every one to file BK. Maybe we are playing into their plan of things. Either way, we are just to okay with it.