CARD Act & Upgrading Existing Accts?

[MarineVietVet]

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@mxp114 wrote:

Thanks Marine, so I understand why you can't go from Disney to Disney Premier due to the "increase" of the AF however why not Freedom to Sapphire? Also that text is pretty broad, it doesn't preclude any and all changes and I think could be interpreted in a way that permits a consumer initiated change that would result in APR/AF changes.

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Hey you're preaching to the choir here!!    I fully agree with you.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[mxp114]

lol Marine

Can we get the Chase CEO or Chief Legal rep on here? I guess they want to simplify and streamline the process, so instead of creating exceptions, it is easier to have one rule regarding 12 months without any changes. It's truly unfortunate but I guess I will have to wait.

[RyVision]

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@mxp114 wrote:

lol Marine

Can we get the Chase CEO or Chief Legal rep on here? I guess they want to simplify and streamline the process, so instead of creating exceptions, it is easier to have one rule regarding 12 months without any changes. It's truly unfortunate but I guess I will have to wait.

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Those people have way too much power, money and "more important things to do" than to be bothered talking with the likes of us LOL 

   And they're not afraid of the CARD act, they'll do what they WANT to do, and what they want to do is use it to their advantage. So, it's often used as an excuse for things it doesn't specify. Usually, CSR's will often just say "because of the new laws" LOL  

[RyVision]

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@CS800 wrote:

Thats the part that I havent found either. I remember someone posting that they PC a card (both no AF) But this legislation doesnt make sense. There are way more things that this legislation could have done for the consumers.

Maybe someone on here can answer this logic.

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CS, you hadn't had enough coffee by the time you posted that had  you

1. Legislation isn't written to make sense to average Americans.

2. It's never written to be that effective for consumers.

3. It's written in legalese to keep lawyers well paid and laymen confused. (Have you not noticed 90% of our higher up elected officials are attorneys? Yet we keep electing rich attorneys...).

[melbaro]

Sorry for necro-thread-bumping...

I just tried converting my Freedom from MC to Visa Signature. I have the $5000 limit and just got a CSP MC (figured MC was better worldwide and Visa better locally). However, they said they could only convert it to a regular Visa, and I'd have to wait the 12 months for the "upgrade"...

I've tried with CSR's and via the branch back office numbers with the same answer. Is this really a PC??

[djrez4]

I recently asked the same question about my Freedom and received the same response.  There's no increase in AF between the regular Freedom and the Signature.  My theory (and, being one of RyVision's hated lawyers) is that the introductory interest rate of 0% may need to be canceled for the PC, which would constitute a rate-jack under Section 172.  Whether that's the case or not, I have no idea.  It's the only justification I can fathom.

[calihlove75]

I had called a few weeks ago about a lower APR on my chase amazon and I was told the card act prevents that. I then asked about a product change to the Freedom Mastercard and was told the card act prevents that too. I guess I will wait until the account is a year old to do anything with this account.