We've enjoyed our Chase Visa for 3 years (mainly for business expenses). We've never missed or even made a late payment. We're no-where near being maxed out. Chase even keeps raising our credit limit, although there is no need.
Well, we too got 'the letter' from Chase that they're raising our rate. We've been considering a long time to go somewhere else anyway, because 12% seems unusually high for our high credit rating. I called, to see if they would reconsider our rate hike. The customer service rep said they are not reconsidering anyone's rates at this time. She said that the economy was to blame and that they were doing the rate increase to try to stay in business.
Well, maybe now the good customers have to pay more for the people who are going bankrupt. I'm not blaming these people. We're quickly entering a depression. But we are not going to be paying Chase more. Reading all the reports by others, I was quickly convinced to bail. I called US Bank, which offered me 0% for 12 months or 3.9% for life of loan with no transfer fee.
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