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Regular Contributor
Posts: 179
Registered: ‎11-05-2008
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Re: Chase goes up on APR

My SO just got a notice from Chase (formerly WaMu) bumping up his APR from 21% to 22.5% to "maintain profitability" on the account.  I had to laugh at the wording.  "maintain"?!?!  If they're already kicking you while you're down they should just say "to make more profit from the account"  I'm just sad he doesn't have anywhere to transfer the balance for a lower APR.  I am going to encourage him to close his Chase checking account and go to a credit union instead for his banking needs.

Starting Score: 557 (2005)
Current Score: 803
Goal Score: 805

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New Visitor
Posts: 1
Registered: ‎05-22-2009
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Re: Chase goes up on APR

Back when I closed my WAMU acct, I managed to lower the APR from 18.9% to either 9.9 or 8.9%. Over time, though, life happened, and I was late on a couple payments, my rate went a little higher, but I always managed to pay more than the minimum. Either way, I was pleased since I wasn't going to spend anymore toward the card. That was about 6 months before the swap with Chase, and now my APR is a whopping 24.99%. Today I called to ask them to lower it, and the rep I spoke with said, "The account is closed. As much as we'd like to lower your rate, we can't do that." Okay...? But you can raise it? Since when is it ok to jack up the rate on a close account? I mean, if you're not going to lower it, then how in the world did it get to where it is now? That's what I want to know. 
Established Contributor
Posts: 670
Registered: ‎07-12-2008
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Re: Chase goes up on APR

rbbyrbsn wrote:

They increased my index on my Amazon visa 10.99 , nominally without the pending credit cards laws . I would sure once the prime got back  around 8% I would be able talk down my rate atlrst least with chase,


I got the note for my Chase Amazon today.  I'm up to 10.99% plus prime, two percent higher than it is now.  That's okay.. I won't be carrying a balance Smiley Happy

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