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Frequent Contributor
slarano
Posts: 279
Registered: ‎04-30-2008

Re: Chase Penalty APR

I paid on time for close to three years after the penalty APR went into effect, still no rate decrease. Have had a 0 balance on the two Chase cards for almost a year now though so Chase gets no more money from me. :smileyhappy:


myFICO Starting Scores: TU 643 03.10.09 EX 676 01.09.09 EQ 638 05.24.09
Current Score: (WalMart FICO) TU 792 04.03.13 (Mortgage Lender - HP) EX 745 02.06.13 (Mortgage Lender - HP) EQ 771 02.06.13
Goal Score: 800+


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Contributor
jonmartin
Posts: 85
Registered: ‎06-05-2009

Re: Chase Penalty APR

I would personally close it. Whats the poing of having a "Prime" card with a Sub-Prime rate..

NFCU Flagship Rewards Visa Signature $5,000
NFCU NavCheck LOC $10,000
Chase INK Cash $5,000
Chase Freedom $1,500
Capital One Sparks $750 (Closed)
Capital One Platinum $500 (Closed)
Capital One Platinum $500 ( Closed )


Starting Score: 590 MyFico EQ
Current Score: 627 My Fico EQ
Goal Score: 720


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Chase Ink Cash - $2,500
Capital One Spark - $???
Capital One Platinum - $500
Frequent Contributor
Autumnslight
Posts: 311
Registered: ‎07-08-2012

Re: Chase Penalty APR

Yeah, the stupid card is totally unusable given that rate. Once the 0% balance transfer is paid off (and believe me, I'm going to milk that one down to the very last moment, just because I can), then I'll close the card and get something better if they still won't reduce the rate.

Scores:
07/29/12: EX FICO (Amex) 684 | EQ MyFICO 631 | TU Walmart 695
Current: EX FICO (MyFICO) 733 | EQ (MyFICO) 683 | TU (Walmart) 745

First Goal: 700+ across the board - Got it on EX & TU!!!
Frequent Contributor
slarano
Posts: 279
Registered: ‎04-30-2008

Re: Chase Penalty APR

Does it have an AF? If it doesn't, has a high limit and a long history, just sock drawer it. 


myFICO Starting Scores: TU 643 03.10.09 EX 676 01.09.09 EQ 638 05.24.09
Current Score: (WalMart FICO) TU 792 04.03.13 (Mortgage Lender - HP) EX 745 02.06.13 (Mortgage Lender - HP) EQ 771 02.06.13
Goal Score: 800+


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Community Leader
Valued Contributor
DaveSignal
Posts: 1,751
Registered: ‎07-29-2011

Re: Chase Penalty APR


Autumnslight wrote:

Yeah, the stupid card is totally unusable given that rate. Once the 0% balance transfer is paid off (and believe me, I'm going to milk that one down to the very last moment, just because I can), then I'll close the card and get something better if they still won't reduce the rate.


Or just close it and then re-apply for the same card to get a decent APR again.


FICO Scores: EQ:712 TU:767 EX:706
Barclays Arrival World MasterCard $6.5k - BoA Travel Rewards Visa Signature $15k - SDFCU EMV $15k - NFCU goRewards $20k
Frequent Contributor
Autumnslight
Posts: 311
Registered: ‎07-08-2012

Re: Chase Penalty APR

Nope, no AF, but on principal, I'm not keeping a card with a 30% APR where they refuse to reduce it for no good reason, except that they can. Plus, I already have two cards with Chase though, and I want a Freedom, so I'll just close the stupid Slate and re-apply for the Freedom when the time comes.

Scores:
07/29/12: EX FICO (Amex) 684 | EQ MyFICO 631 | TU Walmart 695
Current: EX FICO (MyFICO) 733 | EQ (MyFICO) 683 | TU (Walmart) 745

First Goal: 700+ across the board - Got it on EX & TU!!!

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