Chase
Minimum payment doubled and $10 service charge added to promotional rate

I have had "promotional rate for life of loan" with Chase for many years and always paid on time.
Now I have bill from Chase doubling my minimum payment and adding a $10 service charge on top of it!
When I called, they told me that they had the right to raise the minimum payment per month from 2% of the loan to 5%. And they could add the service charge if they wanted.

My only alternative is to accept an increased rate of 7.99%. Or I was told that I could transfer the balance to some other card.

I don't understand how they can arbitrarily raise a minimum payment and add a service charge. It is obvious they are now unhappy with their agreement to give me a. 99%, and 3.9% interest rate. They have no excuse to raise it based on nonpayment or any other breaking of the agreement from my side.

How can they arbitrarily and unilaterally break their agreement with me?

Company: Chase
Country: USA
State: Illinois
City: Elgin
Address: 2500 Westfield Dr
Phone: 8009452000

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