Chase Bank uses TEASER Rates to get you hooked into a higher balance and then for no Valid Reason raises you finance charge to 37%.
They (Chase) do not inform you of this increase. I just happened to notice this one day. I called to talk to the department who handles the finance charge... I ended up talking to the supervisor. She told me the finance charge had been raised due to me having other credit cards.
I said " Let me get this straight. I am being penalized even though I have a better than average credit rating and have NOT had ANY late payments on my record. And her answer was simply YES.
BUYER BEWARE - It is interesting that none of my other Credit Card Companies have raised their rates due to me having more than one credit card. Chase uses deceptive practices. I now have a Huge Balance due to Chase's Higher Interest Rates. I don't even know of a Finance Company (where we would expect higher rates) to have a Finance Charge this high.
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