I to have fallen victim to that great credit card scheme by Chase. I have been a loyal customer for years. I transferred my balances due to a very low interest rate and stopped using the card in hopes of paying it off.
Those hopes were dashed when I received my statment this month raising my payment from $162 to $400. I was livid. I thought surely a mistake has been made. I immediately called customer service.
The representative tried to explain that the payment on the balance had been raised from 2% to 5% and that I should have received a letter, which I have yet to receive explaining this. She stated the only way I could stay with 2% is if I took a higher interest rate of 7.99. I asked to speak to her supervisor.
The Supervisor basically told me the same thing and all the while stating she understood. My answer, "No you don't, if you did you would not be doing this".
I have been very loyal, making my payments on time and have a good credit standing. It's like they want you to fail. There has got to be an answer somewhere. How can they be allowed to do this?
If anyone has any answers, please let me know.in the mean time stay away from Chase!
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