David
Fallon,#2Author of original report
Thu, April 28, 2005
In a notice dated April 23, 2005, Chase notified me that "Since we did not receive your notification within the given timeframe, your account was changed in accordance with the enclosed notice." A copy of the mentioned notice was enclosed. As I previously stated in the above report, Chase had ALREADY acknowledged that I DID notify them within the given timeframe. My account is currently completely paid off, and shows on my Experian Credit report as "closed, consumer request." Now for a really interesting feature of this that I did not notice earlier. In the applicable interest rate section of the "change in terms notice," no mention is made of a default rate. The notice states that "All other interest rates on your account including promotional and default rates under your existing Agreement remain in effect as applicable." If I remember correctly, if my account would go to the default rate under the change, my rate would go from the variable (29.24%) to the default, which was 25.99%! If you get an offer that sounds too good to be true from Chase, just say no. The notice I received today (dated 23APR2005) includes an 800 number for me to call one of their Cardmember Service Representatives for assistance if I have any questions about this matter. I wonder if they would offer me a cool rate to do some balance transfers....... Yeah, right. Like I would fall for THAT again.