Buyer beware!!! Before applying for a Chase credit card be sure to read all of the fine print or you may just find yourself in a world of hurt! They will lure you in by offering you a very generous credit line and reasonable interest rate and after taking advantage of their seemingly generous offer, they will claim that your debt to income ratio is now too high to support the original interest rate and will raise it to the maximum allowed by law. Mine is currently 29.99% and I have excellent credit, a good payment history with Chase and very rarely do I ever just pay the minimum amount due on this or any other credit card I own. If they don't get you that way, you can be certain that they will get you another way. For instance, try making your payment on it's due date. If you've got a good payment history with them and your debt to income ratio isn't too high and you're still receiving a rate that is anything lower than the maximum allowed by law, they will actually wait and post your payment a day late (even though they've received your payment on or before it's actual due date). Then, they will not only charge you a late fee, but they will also raise your interest rate as high as they possibly can and treat you like some kind of delinquent. You might say "But wait a minute, I made my payment on time"! Doesn't matter!!! If you read the fine print on the back of your billing statement, you will quickly realize what kind of scam the good people at Chase are running. If you're mailing your payment, it has to be in their P.O. Box on the due date no later than 1:00 P.M. Their time (Like I'm supposed to be clairvoyant and know what the postal carriers schedules are going to be at any given time or what time my payment arrives). I guess I'm just supposed to take Chase's word for it. (YEAH, RIGHT)! If you make your payment via the internet or telephone, they can take up to five business days to post your payment. I can guarantee you that if you're interest rate isn't already as high as it can possibly be, that your payment will be one of those that didn't show up by 1:00 or doesn't get posted for five days. But wait... It gets better. If you make your payment too early, they'll apply that payment to the previous month and not to the actual month that you were trying so hard to insure reached them on time with all of their crazy rules and don't even think about calling cusomer service or speaking with a supervisor! Not only are they very rude and unprofessional, but it would appear that none of them have an IQ that exceeds 30 (and that's collectively speaking)! I have been going round and round with them for almost three years now and have even paid my $7,000 balance down to $1500, but every month when I call and request them to lower my interest rate, they flat out refuse. I recently called and spoke with a supervisor and told her that I was recording the conversation and wanted her to explain to me the criteria they used to justify giving me such a high interest rate and she told me I could not record the conversation, because it was against the law. I told her that I lived in Texas and since the call originated from Texas, the law only requires that one party to the conversation be aware, but I wanted to make her aware of it just so I could get her reaction. Needless to say, she wasn't happy about it, but if they can record our conversations, then so can I! The bottom line here is that if you find yourself in a situation where you can't afford to pay for something in cash, as opposed to using your Chase credit card, go to a loan shark, instead. They're much more ethical and will give you a better rate, too! In all seriousness, though, stay away from Chase! I can't say enough bad things about them (and they would all be true) that would express my contempt for this company and their deceptive and unethical business practices that have ended up costing me thousands of dollars in interest over the past four years. I don't have a crystal ball, but am going to predict a BIG class action suit in Chase's future. This company needs to be held accountable for their actions. Even if it means that I have to get a voodoo doll, kill a chicken and dance around with my eyes rolled in the back of my head!
Shelby
Arlington, Texas
U.S.A.
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