J.P. Morgan Chase - Wamu Using Credit Protection Plan To Rip Me Off Chase Carried over my Wamu credit protection, cept chase charges 5 times what Wamu did, and they don't offer the same service, never sent an opt out, or even a notice of change, nor did they get approval to continue the service Wilmington Delaware
Chase took over wamu and not only did they increase my interest rate, but they carried over my Credit Protection plan from Wamu. When I agreed to it under Wamu the cost was 7.95 a month, it offered fraud protection, and fico score reports. Now that chase took over, they increased the cost to 0.89 for every $100 on the balance, so now this $8 plan just cost me $40 a month. Not only did they increase the cost to me, but they dropped the fico score reporting, and changed the service entirely from what I had when it was Wamu. Not once did the company send me a letter to notify me of changes to my account, they didn't get approval to charge me 5 times what i was originally paying, they didnt give me an opt out notice due to the difference in services. Heck they haven't even sent me a paper statement since they took over, only reason I found out is cause i logged in online to pay it, and saw that my min payment doubled because of the finance charge increase along with an extra 40$ being charged for their credit protection.
This is a sham, you can't take an agreement that someone signed up for, and completly change the service and cost after they agreed to what was initally set fourth. That is a joke, its unethical, and it should be illegal. I will never do buisiness with this company, and I am going to find every way possible to discredit them.
Gctaylorman
Carroll, Iowa
U.S.A.