J P Morgan Chase, Chase Card Services
Forced Toward Bankruptcy After Credit Card Minimum Payment Hike

My wife and I had 6 Chase credit cards. We had never been late, always paid, had good credit scores and low interest rates. Chase raised minimum payment amount from 2% to 5% plus $10 service charge on two of my wife's accounts in January.

I spoke to customer service (In India) and asked why. She told me they had sent out a letter in November which we never received. I explained that I was disabled, that my wife had been ill and missed two weeks, we had medical bills, and my wife's company had closed down for two weeks in December for which she received no pay. In other words, we could not pay the higher minimum payment. We were told to either pay it or let them raise our interest rate. I asked if they were just targeting my wife or planned to raise the minimum rate on all of our accounts. She could not tell us.

I complained to the Better Business Bureau which responded that the company was within it's rights. Chase told the BBB that they raised our rates because we were behind on our payments which was a lie. My wife and I have contacted a bankruptcy attorney. No wonder Americans are defaulting on loans when companies like this off source customer care then expect bail outs from ripped off tax payers.

Company: J P Morgan Chase, Chase Card Services
Country: USA
State: Illinois
City: Palatine
Address: P O Box 94014
Phone: 8004367927

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