Chase is raising minimum payments on 850,000 cardholder starting Aug 1. This is targeted at low fix for life BT's only. Going from 2% to 5% will double and triple the monthly min payments causing many consumers to go into default, JUST what Chase wants, since they can't increase the low rate APR unless they default and obviously 850,000 cardholders have made their required payments on time. There is NO OPT-OUT option offered. It's swim or sink. This is the lowest of the low I have ever seen from a Corporation that operates in the USA! 4.99% APR is not enough of a profit??? Where can you find a return for that these days? Chase? I think not. 850,000 people already struggling will lead to chapter 13 bankruptcy since the card industry rewrote the bankruptcy laws, more homeless and even suicides. How can they live with that and how can we let them? Call your local media, state reps and tell all your friends. CHASE IS PURE EVIL they are going to take this economy down even further than it is.
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