Complaint Review: Chase Manhattan Bank USA Chase Platinum Visa One - Wilmington Delaware

I'm amazed by the number of folks who actually try to pay these Credit cards off. When they changed the terms THEY voided the contract. Simply don't pay them, write to the credit card company and state "These new terms are unacceptable, I DISPUTE THESE CHARGES (Magic phrase) And then simply calculate your interest yourself, when you have paid off the loan at THE ORIGINAL INTEREST RATE, stop paying (Do not forget to include the interest that they charge on the interest, Ir's a huge sum) What can they do? They've already ruined your credit. They've reported you to the credit reporting companies. And as the sum remaining IS DISPUTED (again magic words) they can't collect. Oh they'll try, turning the remaining sum over to a collection agent (Illegal for disputed, but they don't bother following any rules) and trying to jack up endless "Late" and "Overlimit" fees, just ignore them. They've already hurt you as much as they can. You see credit cards are considered "Signature" loans, meanung there's nothing backing them up, such as when you get a home loan and the property is collateral, but "Signature" loans have NO collateral to go after. That also means that they cannot Garnish salary, put a lein on your property, or all the other lies they will tell you that they "Can" do, (They Lie). The best tactic I know of is that when the collectors call, state that there is no ammount fue, this is in dispute and then hit the 1 button on your phone, and hold it down (It screams in their ear) untill THEY have to give up. I've also had good results by using the star 69 feature to recall the collectors, and let the 1 button trick scream in THEIR ears untill THEY again give up. I actualy had one to put my telephone number on "Do not receive" to their office, a clear success. Just use this tactic when they have nothing to collect, (Home, car, property, etc) and be sure to state "This is in dispute and unowed" EVERY SINGLE TIME THEY TRY TO FORCE PAYMENT OF THEIR THEFT. That should put these thieves out of business shortly,

I have MBA and can READ fine print. I revisited whole CHASE x BANK ONE SCHEMA while doing my taxes: #1 - CHASE/BANK ONE was sending me checks at low rate even AFTER I CLOSED THE ACCOUNT (make up loss of the $150 million lawsuit?). They needed to show profit because they were under the gun by their shareholders for lying/cooking their books see above. Have like 5 x packets of checks at 3.99%. Did NOT use them, did not have to. Again these checks were part of the scheme. Some were redeemable till 5 January 2005. There is no mention of 27.24% #2 - October 2004 - Fine print with the statement was 90% about privacy - NOTHING about my right to refuse the terms and close the account. And there was someplace buried that my rate is going to "regular preferred rate of 19/99%" from my old 7.99% rate with no reason. At this time bank cost of money was 1%! Again I had to read small print 2x to figure out that I am affected. Intentional to confuse and deceive. #3 - NOTHING about my rights to refuse the terms. I did call the bank and confirmed that it is possible after EXPLICITLY asking. #4 - On the closing letter I stated EXPLICITLY that I do NOT agree with new terms and am closing the account under the existing terms - NOT new terms. This includes penalties. THIS IS WHOLE POINT. I have a copy of this letter - BANK ONE did NOT refute my request and closed the account under the old terms (or at least did NOT inform me that they did NOT honor whole request). My 15 year mortgage was sold to CHASE 8 years ago. NOT one late payment and principal is 50% paid off. I trusted CHASE and opened credit card with them - my credit report is/was perfect. I needed resource to get me through .COM crash - reinvented myself - and I am back again. #5 - After being 5 days late due to change in the work place - they hit me with the 27.24% - their "regular rate"? One very important point - this was very disturbing now when I can pay. But if this CHASE/BANK ONE schema hit me 2 years ago BANK ONE/CHASE would give me ONLY two choices: bankruptcy or suicide. To fictional or nonfictional employees of CHASE I can only ask: how can you sleep well at night? And who is immoral, criminal, responsible, or NOT responsible here. Hope that somebody will calculate how many people were and are driven to bankruptcy or death by these corporate criminals.

You dont think credit card companies make money off your purchases? well of course they do...but I personally think they hope and pray for you to be late one month so they can rape you with a high interest rate. "Sure id love to pay you 27.9% for the rest of my life so i can never pay you off and cancel my card, why not make the rich even richer" All credit card companies are the same..out for the consumer HA my a*s. More like out for themselves and as long as americans are herded into using them things will never change. I am also one of the millions being ripped off by credit card companies for paying a few days late. Yes i know i agreed to it...blah blah...but i didnt agree to being in debt to them the rest of my life with an interest rate that screams "Youll never pay me off now" Is there any other alternative besides digging myself deeping in debt to take out another loan to pay off this loan...sounds like a vicious never ending cycle to me.

You obviously do not know how to read the fine print. It clearly states that if you default on even as little as ONE payment..your interest rate will go to the default 27.49 percent.... obviously your not a very informed consumer...ya know the bank sends those letters out every couple of years with terms and changes and updates to the policy's. Who's fault is it besides your own that you dont read them? I read the policy...I missed my payment by four days....I now have a default rate...it's MY FAULT so why dont you GROW UP and take responsability for not making the payment (as it's no one's fault but your own) and just pay the darn thing off.

Chase aka Bank ONE answered letter with one sentence - that I agreed to their terms when I closed account. THIS IS NOT TRUE - closing account means NOT ACCEPTING NEW TERMS - so any late fee penalties and fee jacking up from 9% to 29% is ILLEGAL, CRIMINAL, IMMORAL etc. Calling the customer service is like calling robots - one person was honest and told me - I can NOT do/change any terms. Catch22 -write - then call customer service - then write ... Fortunately I have a means now to pay the debts OFF, but the issue is the same - the corporate practices at CHASE - BANK ONE -whatever corporate tricks they will use to maximize corporate and CEO profits. It is sad that consumer is nothing, powerless in our new military industrial "consumer" society. And the World is quiet - CHASE marketing dollars are feeding media - and media MUST keep quiet - do not bite the hand that feeds you.

Unfortunately Jiri, It's all legal. I am a Bank One/Chase employee..and I too am paying the 27.49 % interest rate. When its a "default rate" ie: you missed a payment then the bank does not need to give you the normal 30 day notification of change in terms. Wish I knew of a way to help but i'm in the same position and unless you reconsolidate your loan elsewhere..there's nothing you can do. If you have good credit....GO GET A LOAN and pay the darn thing off.