Complaint Review: Chase Bank

I have had this Chase account for over 5 years, and have never been even one day late with a payment - in fact, I always make my payment early. They just raised my interest rate to 25.74%, even though usury laws in Texas make it illegal for any creditor to charge you more than 24% (if you reside in Texas).

I called today and was told that I would have to hire an attorney and have the attorney send a demand letter, which I intend to do. What is funny is they could give me no reason why they raised my interest rate. She did say, however that notice had been sent last November - sorry, I never got it.

That is just a lie. I go over all of my mail very carefully, and I never received a notice. Then she said that the Wall Street Journal had just raised the prime interest rate and that may have had something to do with it. Well, that simply makes no sense. So I am now forced to have an attorney get involved in this matter.

Strange, none of my other creditors are raising my interest rates, just Chase. It's going to be hard to pay this one off anytime soon, but believe me, it will be paid off and then closed. My credit rating is very good, I am never late and have many, many years of good credit history to my name.

I am amazed that this bank wants to lose its customers. I always thought it had a pretty good reputation, obviously it does not any more.

Stay away from this Bank if you know what is good for you!

Oh, and one more thing: The motto for this bank is "Chase, Where the Right Relationship is Everything." Now that is truly funny!!!

Joan
Dallas, Texas
U.S.A.