Chase Bank
Promotional life-of-loan rates changed with $10 charge and 250% higher minimum

I took advantage of Chase's 3.99% and 4.99% promotional life of the loan. When I received my recent bill I discovered that there had been a service charge ($10) added to the finance charge and that my minimum payment had increased 250%! This effectively changed the rate to 7.74%! When I took this offer it was stated it could not be changed for the life of the balance unless I was late or missed a payment! I have never been late or missed a payment!

I called and spoke with a representative and his supervisor. They offered to change the rate to 7.99% and drop the minimum payment back down. I was informed that was in the credit card agreement (I couldn't find it but I don't have the agreement statement so I don't know if this is true). Not only is this deceptive but immoral. I know this is their way of increasing a locked in interest rate! I hope that Congress will take action against these crooks and their deceptive credit practices!

Company: Chase Bank
Country: USA
State: Delaware
City: Wilmington
Site: chase.com

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