My boyfriend and I signed up for a Chase credit card 3 years ago. We have been paying over the mininum payment on our $2700 limit since we got the card. We have never had a late payment untill June. It was a complete mistake due to me making the payment online and it not posting untill the day after the due date because of the weekend and I called customer service and got the late fee reversed.
We just recently got a letter in the mail in June stating our interest rate was being changed from a fixed rate of 8.9% to a variable rate. I called customer service to find out what was going on and they said that because of the late payment back in June our rate has been changed. Never untill June had they ever contacted us and informed us of the change they made on our account a year ago back in June.
Just recently we had been wondering why our balance didnt seem to be going anywhere and now it makes sense. Customer service told me that because I had gotten that one late fee our interest rate changed, but when we signed up for the card 3 years ago our contract stated that after 2 late payments our interest rate would change.
Customer service representative and supervisors have told me there is nothing they can do now to change it from the variable rate back to the fixed rate it was at. It is ridiculous that I have been using their card for the past 3 years and this is how they treat us. I'm not sure if I have my old contract due to it being 3 years ago but they say there is nothing they can do beause the contracts have changed.
If they dont get this taken care of for me and get my rate changed back to my fixed rate I am going to take further action against them because no one deserves to be taken advantage of like they are doing to us.
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