JP Morgan Chase
Interest Rate Raised to 29.99% After Statement Never Arrived

Chase bought Washington Mutual. I had a credit card with Washington Mutual. I have never been late on any payments on any of my credit cards or bills. The last statement I got from Washington Mutual was dated 3/20/09. I've been waiting for another bill. I didn't get one so on April 22, I called. I was notified that $301 was past due. I made an automatic payment for April 23. I then immediately went on line to see why I was charged so much. I was redirected to Chase. I found the statement on line and noticed that my interest rate was now 29.99%. The maximum I had been paying was 11.99% with the majority at 1.87%.

I tried to speak to a representative to explain I didn't get a bill, I had never been late on ANY bills but she kept telling me the contract, the contract. Yes. I understand if I was delinquent, my rate COULD go up. I totally disagree that it should have. I did not get a statement which is most likely due to the buyout. It seems that this was intentional and deliberate on the part of Chase, that they were unethical and did not pursue due diligence to properly notify customers of the potential that statements might be late or not sent at all during this transition period; consumers will miss a payment and "we" can bump up the rate to 29.99%. No wonder our economy is as it is.

Company: JP Morgan Chase
Country: USA
Site: chase.com

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