Official Chase Manhattan Blows Thread

[Viper GTS]

Background information:

I have some credit card debt. More than I should have. I am borderline paranoid about my credit though, & have never missed a payment, gone over a limit, etc. Spotless record, save for the relatively high balances. I am just now getting back to work after being unemployed for medical reasons, so I was closer to my limit on this card than normal. I was not over, nor would I have been over after interest charges (at my normal rate).

The Story:

Woke up this morning to discover that my Chase Manhattan credit card was now being charged 29.99% interest. To make matters worse the nearly tripled interest charges (vs what I was expecting) put me a little over my credit limit. Wonderful.

Call #1 to Chase Manhattan:

Me: WTF?
Customer Service: I can't tell you why, but we told you in advance that it was going to happen.
Me: I don't recall any notification.
Customer Service: I can re-send it for you.
Me: Whatever.

I had to go to work, so I didn't push the issue that much. Got home, still pissed off, called them again.

Call #2 to Chase Manhattan:

Me: WTF?
Customer Service: Our review of your credit report showed a history of delinquent accounts.
Me: WTF? What bureau?
Customer Service: I can't say, you'll need to check all three & contact us in writing if you feel there is an error.
Me: Whatever.

So I check all three credit bureaus. No negatives whatsoever, all accounts in good standing as they always are. No late payments, over limits, etc. on any accounts in my history. So I called them again.

Call #3 to Chase Manhattan:

Me: WTF?
Customer Service: No I don't see anything wrong with your credit report, we just raised your rates because you were close to your credit limit.
Me: WTF?

So now all Chase feels I'm worthy of is 29.99% interest.

Chase has a nasty surprise coming though they aren't getting ANY interest from now on.

Kiss my ass Chase Manhattan.

:|

Cliff's Notes:

Chase jacks my interest rate to the default rate of 29.99% because I was close to my credit limit.

Viper GTS

 

[xSkyDrAx]

What a bunch of asshats.

 

[ElFenix]

yeah they did that to me. i just paid the thing off. in hind sight i should have threatened them.

oh, and by law if they do any negative action to you due to a credit/background agency check, they have to tell you which and why, iirc.

 

[Viper GTS]

Originally posted by: ElFenix
yeah they did that to me. i just paid the thing off. in hind sight i should have threatened them.

oh, and by law if they do any negative action to you due to a credit/background agency check, they have to tell you which and why, iirc.

I think they only have to tell you if they deny you credit.

As for threatening them I really don't care, I'll have the account paid off in a day or two & they can go to hell.

I really don't want the over limit on my credit report though...



Viper GTS

 

[Slew Foot]

I sense a balance transfer to a 0% cc pending.

 

[WiseOldDude]

You got a notice a while back this was coming, read your mail. And Chase is not alone, all the big banks/credit card issuers are doing the same thing.

That is why I do zero business with big banks, preference being small "hometown" banks, and the best of all Credit Unions.

and your elected officials passed special laws so that these greedy bastard corporations could screw you and millions of others over.

 

[Engineer]

Originally posted by: WiseOldDude
You got a notice a while back this was coming, read your mail. And Chase is not alone, all the big banks/credit card issuers are doing the same thing.

That is why I do zero business with big banks, preference being small "hometown" banks, and the best of all Credit Unions.

and your elected officials passed special laws so that these greedy bastard corporations could screw you and millions of others over.

No, that is why you get a rewards card from the big banks just to make everyday purchases (not luxury items that you wouldn't normally buy) on and pay in full every month while taking money "from" them. Sure, they get the retailer fees but you get more than you pay in. I've earned over $400 in rewards from Chase this year without paying a penny in interest. There are ways to make them pay!

 

[Viper GTS]

Originally posted by: WiseOldDude
You got a notice a while back this was coming, read your mail.

When they say they sent it I was laying in the dark with sunglasses on after having a cornea transplant.

I do read my mail, there's no guarantee it actually made it to me (g/f was sorting my mail while I was incapacitated).

Viper GTS

 

[NikPreviousAcct]

Chase is widely known to be absolutely satan in the lending industry.

 

[erub]

on the contrary, i like doing business with them. My parents and my main bank accounts are with them and they treat us well. They gave me my first reward card - Chase PerfectCard, gave me $100 to open a SonyCard, and gave me another $100 to open the Chase Cash Reward Plus (to which they gave me a much higher limit than any of my other cards). Pay in full each month and make money off the rewards - counting the opening bonuses, probably $400 made from just charging stuff

 

[kyparrish]

One time, I made a payment of like $750 to my Chase card. It cleared my bank, and my balance was lowered by $750 on the Chase website. A few days later, I went to buy an xbox controller from wal-mart, and my card got declined. I'm like WTF.

So, I call Chase, and they say "That was the first large payment you've made to your account, so we put the account on hold to make sure teh funds cleared from your bank."

Me: "They cleared days ago, it's out of my checking and into your hands"
Chase: "Well, our fraud department needs a few days to process the payment to make sure it is legal."
Me: "EXCUSE ME. FRAUD DEPARTMENT?"
Chase: "Yes sir, since your payment was so large, we need to investigate to make sure everything is legit."

I was furious.

 

[IHateMyJob2004]

Call them and tell them you want 7%. They will think you are about to file for bankruptcy.

If they say no, get a new card with one of those 0% transfer deals.

 

[RossMAN]

I need to start paying more attention to my cc statements.

 

[MikeyIs4Dcats]

I got screwed over in the same way by Chase....never got a notice.

 

[AnonymouseUser]

Originally posted by: MikeyIs4Dcats
I got screwed over in the same way by Chase....never got a notice.

I got one of those notices from Chase over a year ago. Terms were ridiculous, rates were gonna go up, etc. Called and canceled the card and only then did they offer a lower interest rate. KMA! Transferred the balance to an even lower rate card with another bank.

I will never do business with Chase again, and haven't added any additional debt in over a year.

 

[Syringer]

Originally posted by: Viper GTS

Originally posted by: WiseOldDude
You got a notice a while back this was coming, read your mail.

When they say they sent it I was laying in the dark with sunglasses on after having a cornea transplant.

I do read my mail, there's no guarantee it actually made it to me (g/f was sorting my mail while I was incapacitated).

Viper GTS

I'm sorry for your troubles, but that means they probably did still send it, regardless of whether or not you read it.

 

[ponyo]

Chase has a reputation for this. I paid off my Chase MC and put it away in storage because I didn't want to support such a slimy company. Do not take any 0% offer from Chase either. They can raise the rate anytime they feel like it. Even if they said 1 yr. Read the small fine print.

 

[AnonymouseUser]

I also will no longer do business with Citi Financial for some BS they pulled on a limited time interest free loan. Paid most of it off before the end of the term, but for the remaining balance the interest compounded daily, and was accrued daily. Paid off the final bill of $0.50 and got yet another $0.20 (minimum charge) bill afterward. :|

 

[MikeyIs4Dcats]

Originally posted by: AnonymouseUser
I also will no longer do business with Citi Financial for some BS they pulled on a limited time interest free loan. Paid most of it off before the end of the term, but for the remaining balance the interest compounded daily, and was accrued daily. Paid off the final bill of $0.50 and got yet another $0.20 (minimum charge) bill afterward. :|

thats...kinda how that works. Most loans are like that.

 

[bonkers325]

Originally posted by: AnonymouseUser
I also will no longer do business with Citi Financial for some BS they pulled on a limited time interest free loan. Paid most of it off before the end of the term, but for the remaining balance the interest compounded daily, and was accrued daily. Paid off the final bill of $0.50 and got yet another $0.20 (minimum charge) bill afterward. :|

thats how loans work

 

[AnonymouseUser]

Originally posted by: bonkers325

Originally posted by: AnonymouseUser
I also will no longer do business with Citi Financial for some BS they pulled on a limited time interest free loan. Paid most of it off before the end of the term, but for the remaining balance the interest compounded daily, and was accrued daily. Paid off the final bill of $0.50 and got yet another $0.20 (minimum charge) bill afterward. :|

thats how loans work

Interest on the final $0.50, which was interest from the previous unpaid balance, which was paid off mere days after I found out there was the additional finance charge? The stamp alone cost more than the bill!

 

[spidey07]

read the fine print...

unfortunately this is normal. be late on any agreement whatsoever (paid the lawn guy 1 day late) and the can and will raise your rate.

 

[DaWhim]

this is what I do. always keep a cc with 0% apr for 1 year.

 

[Viper GTS]

Originally posted by: spidey07
read the fine print...

unfortunately this is normal. be late on any agreement whatsoever (paid the lawn guy 1 day late) and the can and will raise your rate.

Perhaps the print in this thread is a little too fine for you?

Viper GTS

 

[spidey07]

Originally posted by: Viper GTS

Originally posted by: spidey07
read the fine print...

unfortunately this is normal. be late on any agreement whatsoever (paid the lawn guy 1 day late) and the can and will raise your rate.

Perhaps the print in this thread is a little too fine for you?

Viper GTS

well if you read the fine print in your agreement you'll see that if you are late on any agreement you are in default and hence you get the default rate.

I know it sucks and CC companies are the devil, but that's just the way it is.