Chase Manhattan Bank
Convenience Check 3.9% Offer Converted to 25% Interest Rate
- 08-31-2004
- 13
I was a Chase credit card customer for more than two years.
I never missed a payment and occasionally requested charge reversals on charge from merchants who tried to rip me off.
Never did I imagine that Chase would try to rip me off.
I received the periodic "convenience checks" for balance transfer. Most of the time I simply discarded the checks. I attempted to use one in July to pay off another credit card balance.
Unbeknownst to me, Chase decided to run a credit report on me earlier this year. I am certain that another credit card bank had reported my failure to pay a small balance over a merchant dispute.
My position is simple: I do not pay for goods or services that are not as advertised. NO exceptions. If a credit card bank will not support me, I send in all but what the disputed amount is and I close the account.
Chase took a 3.9% offer that they extended to me and converted it to a 25% interest rate without informing me that the 3.9% rate was not valid.
Chase claims that their agreement with me allows them to do so.
I don't care about the agreement. Chase should NEVER have sent me the convenience checks or extended the offer if it was not valid, particularly since a number of months had elapsed since they decided that I was not worthy of the 3.9% rate.
I sent them a final payment, with the interest rate re-computed at 3.9% and subtracted their transaction fee. Their credit card, cut into four pieces, accompanied my account closure letter.
I also invited them to take me to court, because only a judge can compel me to pay the difference.
I continue to file these reports and hope that government or private agencies decide to intervene. If Chase did this to me, they are doing it to others. This is also potential mail fraud and the Postal Inspectors should investigate this predatory practice.
Company: Chase Manhattan Bank
Country: USA
State: Delaware
City: Wilmington
Address: PO Box 15650
Phone: 8004323117