Chase interest rates on Slate

[lcab]

I received a notice today that Chase is increasing the interest rate on my Slate from 7.4% to 12.24% effective 4/26/18.  That's a pretty significant jump!  Did anyone else receive this communication?  

Their explanation was that my current rate is below the lowest rates they currently offer.  

[Anonymous]

Icab Chase noticed me that my Chase Freedom rate was being increased to the posted Chase market rate with the February 2018 billing statement. Not happy it used to be 10.24% now to 16.24%. Funny thing is I have never paid interest so they have not been making money on that item

[lcab]

Thanks for the response.  I feel a little better.

[Anonymous]

Yeah, my Slate is being adjusted to 16.24% (from 13.24%) effective April 26, 2018.  I intend to close this account.  A Slate card with a 16.24% interest rate?  What is even the point....

[Anonymous]

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@Anonymouswrote:

Yeah, my Slate is being adjusted to 16.24% (from 13.24%) effective April 26, 2018.  I intend to close this account.  A Slate card with a 16.24% interest rate?  What is even the point....

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The card isn’t worth much after the intro balance transfer. The card is a balance transfer card. It’s not really meant for anything else. It’s a card to PC when available. People get the card to carry balances interest free while they try to pay them off.

[Anonymous]

I also got the notice, my original APR is 21% so not mad about going down to 16%!