Complaint Review: Chase Credit Card

My husband and I have had a Chase card for several years. Two years ago I received a change in terms from Chase. They were increasing my rate from 9.9% to 17.9% unless I opted out, which would would also close the account. I of course opted out and closed the account. Bear in mind that in 10 years we have never had 1 late payment to them. We have a good credit score over 710 at last check. We have two credit cards with them, one of which is prime for life, a checking, and a personal loan.

For two years I have paid as agreed every month, on time. Monday I got a notice in the mail. It was a small pamphlet folded and taped and it looked like junk mail but I opened just to see what it was. I was a change in terms. It seems that Chase is now trying to charge 28.49% on closed accounts. I read through it several times and then called Chase. I spoke to a fairly decent guy who said that he could opt me out over the phone which he did. The pamphlet said I had to opt out in writing so I followed up with a letter.

They sent that change in terms to look like junk so it would be just thrown in the garbage. This is a warning to everyone to read ANY AND ALL communications that you get from Chase because they try to sneak the change in so that people do not opt out.

As soon as possible I will be transfering that balance, closing my other card and checking account. I am letting our branch manager know why and anyone else that will listen. What they are doing is no better than loan sharking.

Mary
Croswell, Michigan
U.S.A.