At the end of February I received my statement from Chase. While looking over the statement I seen where they raised my interest rate from 14% to 29.24%. I was not sure why this happened so I called the company. They informed me that I was late on a completely different credit card back in December. I had my statements from my other credit cards in front of me and looked through them.
Apparently, I was late with the other credit card by 2 days. The thing is, is that the other credit card DID NOT raise my interest rate. But Chase took it upon themselves to do this. The customer service rep. Was very rude and had me so upset. I explained to her that I had been a member for many years, I had never had a late payment with them, and I always paid more than the minimun fee. She didn't care.
Besides that I explained to her that back in the beginning of 2006 when I started to use the card my interest rate was above 15%. The other credit cards I had were any where between 4% and 9%. At that time the person I talked with lowered the interest rate to 14% right then and there. She said there was nothing she could do about my present situation and that there was no one else I could talk to. She said the only thing I could do was cancel the card.
I was so furious I cancelled the card. I called my husband and told him what happened, he said well don't cancel the card. It was to late. I called Chase right back, I mean within minutes of cancelling the card. I explained the situation to another service rep. I wanted the card reinstated. He said the card could not be reinstated for some unknown reason.
So now I have this outrageous interest rate on a card that I have never been late on. Plus I have hurt my credit rating which, I have great and I mean great credit. I wish there was something more I can do. If anyone has any information to help me it would be greatly apprecriated.
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