Reply
Regular Contributor
wcnghj
Posts: 150
Registered: ‎11-09-2008

Re: Chase And Their New Account Service Charges


haiti222 wrote:

More info here....They seem to be applying the fee to people with low rates and low rate balance transfers that they don't like anymore.....

 

http://www.ripoffreport.com/reports/0/388/RipOff0388782.htm 


Darn, I have 5.9 variable with them.

04/2009
TU:745
EQ:764

10/2008
TU: 708
EQ: 708
EX:707
Senior Contributor
UpUpUp
Posts: 3,017
Registered: ‎06-03-2008

Re: Chase And Their New Account Service Charges

Wow. I think I am going to be fine since I pay in full. However, I agree with the poster on that ripoff report. It does seem like it could warrant a class action suit. They are effectively changing the terms of the BT offer by adding this monthly charge.

 

OP, I'd be sending in my own ripoff report as well as a letter to their corporate office!

Established Contributor
Uniqua
Posts: 683
Registered: ‎04-05-2008

Re: Chase And Their New Account Service Charges

Sheesh! If it's not one thing, it's another. This world is so full of money hungry goons!

 

I wonder what they plan on doing to us WaMu CC holders!

 

 

 


Joey22 wrote:

I have two different Chase cards, one business and one personal.  Enclosed with the newest statements was a new notice regarding upcoming changes to my account(s).

 

  • Starting January 1, 2009, A new Account Service Charge of $10 per month will be applied to your account.  This charge is owed whether or not you use your account, and you agree to pay it when billed.
  • Your minimum payment due will increase from 2% to 5% of the ending balance on your monthly statement.  As a result, your required monthly minimum payment will increase.

 

Your APRs will not be impacted by these changes (gee, thanks!)

 

Both cards still continue to have no annual fee (hah!). 

 

My credit score remains in the mid 700's, and has been for years.  No new charges out of the ordinary.  No "reason" for these new service charges, except that they need lots and lots of cash... and quick!  

 

If this trend continues to spread to other CCC (and I believe it will), many Americans will have no choice but to default, and settle for paying 30 cents on the dollar down the line.

 

Thoughts? 

  

 

 


 

 


Starting Score: TU 723, EQ 708
Current Score: TU 796, EQ 743
Goal Score: TU 800, EQ 800


Take the FICO Fitness Challenge


Starting Score: 708
Current Score: 743
Goal Score: 800


Take the FICO Fitness Challenge
Member
charlie100
Posts: 11
Registered: ‎07-04-2007

Re: Chase And Their New Account Service Charges

I received  something like this  for Cap one  card, didnt pay too much attention to it since it is  only if i carry a balance. Might be the same for chase cards . Also have chase cards but have not seen notice like this with chase. will keep an eye out , but  i would still contact cust service for clarification.
Established Member
Joey22
Posts: 22
Registered: ‎11-10-2008

Re: Chase And Their New Account Service Charges

[ Edited ]

Anyone have a comment on the part where they're raising the minimum payment by 150% from where it is now (from 2% to 5%)? For example, if one had a $5,000 balance now, the minimum payment is $100. Starting Jan 1, the minimum shoots up to $250.

 

Yes, it will help you pay your balance much quicker, in the long run. However, if you're struggling to make ends meet, this might be what pushes you over the edge. Oh, don't forget the penalties for paying late -- late charges and.. you will lose your original low interest "transfer for life" rate, and now be paying the default rate!

 

Brilliant thinking on their part!!

Message Edited by Joey22 on 11-15-2008 05:20 PM
Valued Contributor
stef37
Posts: 2,205
Registered: ‎12-06-2007

Re: Chase And Their New Account Service Charges

[ Edited ]

Joey22 wrote:

Anyone have a comment on the part where they're raising the minimum payment by 60% from where it is now (from 2% to 5%)?  For example, if one had a $5,000 balance now, the minimum payment is $100.  Starting Jan 1, the minimum shoots up to $250.

 

Yes, it will help you pay your balance much quicker, in the long run.  However, if you're struggling to make ends meet, this might be what pushes you over the edge.  Oh, don't forget the penalties for paying late -- late charges and.. you will lose your original low interest "transfer for life" rate, and now be paying the default rate!

 

Brilliant thinking on their part!! 


True, if they raise the minimum on someone with a significant balance, that could be hard for someone already stretched thin.

 

I have not received any type of notice from Chase (or any of my lender's) I do have a BT on the MC that is 0% for 15 months. It's under 2k but if they wanted it paid, I could take it out of savings. I also bank with them so I don't know if that is a factor?

 

Sorry again they are doing this OP.

Message Edited by stef37 on 11-15-2008 04:32 PM
Established Contributor
FaircreditguyFL
Posts: 665
Registered: ‎03-31-2007

Re: Chase And Their New Account Service Charges

I truly have yet to receive any information from Chase suggesting what you have posted.
Established Contributor
fevmlo
Posts: 640
Registered: ‎03-28-2008

Re: Chase And Their New Account Service Charges

The statement for my husband's Circuit City Visa arrived the same day this was posted, so I had to rifle through the trash to make sure we hadn't missed any notices like this, but nope, just the usual Circuit City-related junk. Then he PC'd the card to a Freedom Plus and there were a couple of email alerts related to that. THEN an email a couple of days ago saying something about changes to the terms and conditions and to log into the secure message center (or whatever it's called) to read the message... I was almost convinced that this message would announce their intention to start charging $10 a month... but upon logging in, there is no message in there! Hmm.
EQ: 723 / TU: 760 (August 2009)
Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007

Re: Chase And Their New Account Service Charges


fevmlo wrote:
...THEN an email a couple of days ago saying something about changes to the terms and conditions and to log into the secure message center (or whatever it's called) to read the message... I was almost convinced that this message would announce their intention to start charging $10 a month... but upon logging in, there is no message in there! Hmm.

I got a similar message for my Borders Visa. Turned out (in my case) to be a change to their online privacy something something. I read it four times before deciding it wasn't a change to the actual account.

My statement drops on the 19th. Guess I'll know something then!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Regular Contributor
notmyname
Posts: 178
Registered: ‎08-21-2007

Re: Chase And Their New Account Service Charges

No changes on Chase and I did get the email concerning online privacy. This looks like histeria.

 

NMN


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+