Last year I missed a payment on a USA account, the payment was a few days late. We had had a major snowstorm, and I live on a dead end road. Regardless of what is said, if the snow plow can't get through, neither does the mail. Because the payment was late, USA raised my interest rate to 24.99% I put the account in a debt management program after negogiations failed.
Several months afterwards, Chase raised my interest rates t0 25.99%. I had never been late in my account and had paid more than the minimum payment each month. When I inquire why they raised the rate, Chase told me it was because of the USA account appearing as behind. I tried unsuccessfully to get them to lower the rate, and they would not.
I attempted to put the account into a the debt management program but Chase refused the offer. I have only two other open unsecured accounts, one with a fixed 4% on the life of the balance and another with a modest rate. Because my business sometimes requires travel, I need to keep at least one of the accounts.
I feel Chase has treated me very unfairly and may even force me into bankruptcy because I can not pay the account down with this high rate! I never missed a single payment on any account except the USA account, always paying Chase and the other creditors on time.
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