While I was talking to Chase about my most recent ratejack, I asked to speak to someone in the retention dept. and I was told that they no longer have one. Am I being lied to, or do they not care enough about keeping customers to even have the dept. anymore?
1) Don't take it personally. Chase is in risk management mode, meaning they are trying to decrease their exposure to credit card accounts as much as possible. Where impossible, they are increasing interesting rates to use resulting cash flow as a compensation for increasing defaults.
2) Ask for credit specialist or account manager. He/she will ask you a number of basic questions about your salary, line of work, etc and if you give satisfying answers the rate will be brought to normal. I had similar problem and it was taken care of very efficiently.