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Regular Contributor
flyers
Posts: 216
Registered: ‎04-19-2007
0

Chase raised rate

Just got a form letter from Chase stating that in July my rate on existing & new balances will be Prime + 11ish %.   Would equal just over 15%.    My current rate is 10.24% and never been late and only have about 30% of limit used.  Looks like another bank looking to make more profits off the good customers.   I'm gonna work to pay it down and only use it once every 3-6 months just to keep it active.    You s#@k Chase!
Regular Contributor
SherriLynn
Posts: 106
Registered: ‎08-26-2008
0

Re: Chase raised rate

They are raising my rate to 21.9% for no reason at all.   Perfect history.  I agree with you... just going to use it for a candy bar every few months. 
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Established Contributor
cartercorp
Posts: 851
Registered: ‎07-01-2008
0

Re: Chase raised rate

Keeping my fingers crossed.I havn't recieved anything from Chase yet....
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007
0

Re: Chase raised rate


flyers wrote:
Just got a form letter from Chase stating that in July my rate on existing & new balances will be Prime + 11ish %.   Would equal just over 15%.    My current rate is 10.24% and never been late and only have about 30% of limit used.  Looks like another bank looking to make more profits off the good customers.   I'm gonna work to pay it down and only use it once every 3-6 months just to keep it active.    You s#@k Chase!

Sorry OP. Curious what is the limit on the card? Maybe they think 30% of the limit is high?

Valued Contributor
athensguy
Posts: 1,291
Registered: ‎02-26-2008

Re: Chase raised rate

At this point, I don't think that anyone who has paid any attention should be at all surprised when they get a ratejack, regardless of the balance carried or their credit scores.

I have now had ratejacks from Citi, FNBO, Discover, and Capital One. I'm waiting on more from Citi, BoA, and Chase.

Only the Capital One has a balance, and it's a promo BT rate that I will pay off shortly.
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007
0

Re: Chase raised rate


athensguy wrote:
At this point, I don't think that anyone who has paid any attention should be at all surprised when they get a ratejack, regardless of the balance carried or their credit scores.

I have now had ratejacks from Citi, FNBO, Discover, and Capital One. I'm waiting on more from Citi, BoA, and Chase.

Only the Capital One has a balance, and it's a promo BT rate that I will pay off shortly.

I have had CLD from Citi and Juniper for not using enough of the available credit line but no rate jacks so far.

Frequent Contributor
CreditCard101
Posts: 401
Registered: ‎02-23-2009
0

Re: Chase raised rate

THese days the banks think smart that they can jack up every0ne APR. As a consumer, I dont think we need to be angry or anything, its worthless. Just fight back by pissing them off, just use your card for a small purchase under a a couple of dollars everymonth. Let see what or how can they make money off it. Let them think more and think harder.

Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008
0

Re: Chase raised rate

[ Edited ]

My Chase is a an old WAMU card.  They PC'd to Freedom Plus, but when they brought my account from WAMU they hit me with 29.99% right from the start.

 

I don't carry any balance with them, of course, just use them for rewards.  But now with the word that rewards are taking a haircut, I'm going to downgrade to the Freedom no AF card or something.

 

I don't really care about the APR on this card, I just treat it like a signature or charge card....PIF every month.

Message Edited by txjohn on 05-23-2009 09:47 AM

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Established Contributor
Itsmeagain
Posts: 832
Registered: ‎01-16-2008
0

Re: Chase raised rate

I've had the Chase Freedom Card sinc Aug. 08.  Got CLI at 6 mo. from 2500 to 5000.  Starting APR 14.99%.  I just looked at my statements for the first time (I PIF each month before the statement drops), and found that they have actually LOWERED my APR three times, the last being in January.  It's now at 13.24%.

 

FYI, I run about 600 - 900 each month.

 

I'm holding my breath, but so far Chase has been good to me.


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haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
0

Re: Chase raised rate

Almost all banks are shaking the money tree HARD.

If a customer leaves a balance on a card one month, naturally they'd rather make more money off of this with a higher APR.

It's pretty much up to the customer as to whether s/he wants to participate in this or not.
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