I have banked with the same bank since 1982, yet, it was either sold or merged with others so many times it has now become Bank One/Chase. I have all my accounts with this bank: checking, savings, home loan and retirement account. I have said this to show that I have been a very loyal customer to this company. I have also had personal loans with them that were all paid in full in a timely manner.
Now, out of the blue since the merge with Chase, I have some serious issues. I have two credit cards with Bank One. Neither has ever been paid late (I lie, one card was paid AT THE BANK but because of their procedure of postings it showed to be late even though I paid it the day it was due. They say it takes a few business days to be applied! How I do not know since I paid it AT the bank!!!) Not only have I never been late, I have always paid more than the minimum payment due!
My problem: one card went from an interest rate of 13.74% to 29.99%!!! This one I caught and was able to cancel the account to preserve the lower interest rate.
On the second card I was not so lucky, I DID NOT get the notice that my rate was going from 9.15% to 29.99%!! Now I am stuck with a bill of $210 of which $208 was finance charges!
I called Bank One / Chase and the only statement they made is that I have lots of credit! None of my other cards are ever late pays nor is any of our bills. I tried to explain that I had been a long time customer, the "late payment" was paid ontime at their bank and that I have many other accounts with them. They wanted to hear none of this.
All they wanted is their 29.99% interest! What a ripoff! But even more so is the government that allowed them the ability to attach this sort of bull!
This is not a bank to deal with if you want fair treatment. They 'feel I have too much credit' so their solution is to triple my interest rate and make it even harder to clear any debts I have!!
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