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Chase REAGE PROGRAM?

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PayYouNever
Frequent Contributor

Chase REAGE PROGRAM?

Has anyone ever heard of this? I have an account with Chase that I put into a DMP when the APR approached 29.99% after I missing about 4 payments in 2004; it's been paid on regularly over the past two years.

Today I get a letter from them saying my account has qualified for the Reage Program because of the excellent payment history. Interest fees are being waived and other potentially negative consequences.

I have never heard of this. I wonder if they'll respond to GW to remove the 4 late pays from 2004?
Message 1 of 7
6 REPLIES 6
Anonymous
Not applicable

Re: Chase REAGE PROGRAM?



PayYouNever wrote:
Has anyone ever heard of this? I have an account with Chase that I put into a DMP when the APR approached 29.99% after I missing about 4 payments in 2004; it's been paid on regularly over the past two years.

Today I get a letter from them saying my account has qualified for the Reage Program because of the excellent payment history. Interest fees are being waived and other potentially negative consequences.

I have never heard of this. I wonder if they'll respond to GW to remove the 4 late pays from 2004?

What are the parameters? Info please, inquiring minds want to know...
Message 2 of 7
Anonymous
Not applicable

Re: Chase REAGE PROGRAM?

If they are going to reage the account they will remove all negative history and give you a clean record. I have suggested people who need t negotiate having problems bringing past due accounts current to enter into such a payment plasn with this exact stipulation.  Most times, they close the acount butin the end, the bank gets paid andyou recover a perfect history. Had a neighbor do just this earlier this summer with Chase.
Message 3 of 7
haulingthescoreup
Moderator Emerita

Re: Chase REAGE PROGRAM?

Aaargghhh, why don't any of my baddie accounts offer this???

Congrats, OP, that's a heck of a deal. In case you can't tell, I'm jealous! Smiley Very Happy
* 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
Message 4 of 7
Anonymous
Not applicable

Re: Chase REAGE PROGRAM?

In my neighbor's case, her accounts had been sent to collections.  she called and explained the situation and made arrangements with the OC (two different ones I believe) set up a payment plan and requested that the accounts be reaged in exchange for the payment plan.
Message 5 of 7
PayYouNever
Frequent Contributor

Re: Chase REAGE PROGRAM?

Netpanther,

here's what the letter outlined.


We have good news for you! Your recent payments have qualified your account for our Reage Program and it's no longer past due. As long as you continue to pay the minimum due each month you will enjoy these benefits:
- no late fees;
- updated credit record to reflect your account is in good standing; and
- no collection calls.


I'll have to order my Experian and Equifax reports early next month to see if the Chase account has moved off the "Adverse Account" listing and over to the Positive Account listing.
Message 6 of 7
SmartCookie
Valued Contributor

Re: Chase REAGE PROGRAM?

Those sorts of programs are great!
 
DH has one with BoA for an old MBNA account.  They marked it as 'closed by consumer', stopped the late fees, reduced the APR to 1% and put the account back to pays as agreed.  Unfortunately, it did not wipe any of the old lates off of the account. 
EQ 787 EX 781 TU 737 11/17/07 *** I am not an attorney. If I was, I might not clip coupons. If you want legal advice, consult an attorney. If you want my personal opinion, feel free to consider my posts***
Message 7 of 7
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