About 4 months ago, I decided to merge my outstanding debt onto a 0% balance transfer from Chase. The offer stated that I would not be charged any fees or interest on my balance transfer for 15 months. What a scam!
This month, without notice, my balance transfer ballooned to 19.99%. I have not been delinquent in any form. I've been paying about 5 times the minimum payment each month, and each payment has been received by Chase a full week before the due date.
I still have all of my original documents and carmember agreements and believe me - when they state, "APRs are not guaranteed; APRs may change to higher APRs, fixed APRs may change to variable APRs, or variable APRs may change to fixed APRs", they mean it, and there's nothing anyone can do about it.
After contacting a supervisor, I was told that they sent me notice (which I never received) that I'd be charged 19.99% every month from now and nothing could be done about it. Needless to say, I've transferred every penny away from Chase into a reputable company and am in the process of closing my account. The lesson learned:
Do not do credit card business with chase. They are scam artists protected by the sheer size of their corporation. Any attempt to bring a case into litigation will waste weeks and months of your time and way too much money.
It's really too bad that the consumer isn't protected by false advertising and bait and switch schemes protracted by huge corporations.
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