I just found out from my 5 statement that my Chase Platinum Mastercard APR went from 5.99% for life to 29.74%. Note, I have an excellent 9 year history with Chase and have never missed a payment and had only 1 late payment.
I called Chase to inquire about the hike in my APR. I was given indefinite responses, such as having too much available credit and having high revolving balances. The Chase supervisor told me that she cannot do anything about the increase in APR and that she cannot revert my APR back to 5.99%. That I have to pay the 29.74% regardless and there's no one at Chase who I can speak with to resolve my situation.
Wow, I never knew you can be penalized for having too much available credit. They are penalizing me for credit that I have not even touched/used. As if it's my fault for having too much credit. What is the sense in this? I've always thought it was a good thing to have been granted high credit limits. Boy, was I wrong!!!
As for the high balance justification, hey Chase, you never mentioned that you can charge me usurious rates for carrying a high balance when I was transferring my high balance to your credit card.instead, you promised 5.99% APR for life on that same high balance that you are now penalizing me for.
HA, THAT SURE SOUNDS LIKE A LOAD OF CRAP! And, why aren't other banks charging their customers 29.74% for having high revolving balances and high amount of available credit? Why are you the ONLY ONE doing it?
By the way, with the hostile customer service that you provide and the absurd rates that you charge, you should seriously change your slogan to, "Chase, where MONEY is everything".
I have already reported Chase's unethical credit practices to the Office Comptroller of Currency, Better Business Bureau, New York State Attorney General's Office, Senator Clinton, and Senator Schumer. To all the victims of Chase, don't stand for the corporate abuse. The only way we can stand up for ourselves and erect changes is to make our voices heard.
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