CHASE - APR rise notification

[Anonymous]

I recently received a letter from Chase (I have a CC through them) and it stated that my rate was going to jump from the current one of 8% up to 14.22%!!!!  If I don't want to accept the change I can notify them, but then they would close my account.  I'm a little worried about what that would do to my score.  I just opened this account a little under 2 years ago.  I received my first card in 2000.  I know from my reports that I qualify for 12%.  I called Chase and asked that they at least lower it to 12% but they won't.  Should I just cancel the card?  I PIF so there is a zero balance on it and I won't be using it if it has a 14% APR.  What will it do to my score? 

* I'm looking to buy a house in about a year

* FICO - 664 middle score

* 4 credit cards total, 3 with balances

* No lates on any card

* reasoning behind the change "low available balance on other cards"

* Currently paying everything off (above minimum balance) and no new purchases

PLEASE HELP!!!

[Anonymous]

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lbanawa1 wrote:

I recently received a letter from Chase (I have a CC through them) and it stated that my rate was going to jump from the current one of 8% up to 14.22%!!!!  If I don't want to accept the change I can notify them, but then they would close my account.  I'm a little worried about what that would do to my score.  I just opened this account a little under 2 years ago.  I received my first card in 2000.  I know from my reports that I qualify for 12%.  I called Chase and asked that they at least lower it to 12% but they won't.  Should I just cancel the card?  I PIF so there is a zero balance on it and I won't be using it if it has a 14% APR.  What will it do to my score? 

* I'm looking to buy a house in about a year

* FICO - 664 middle score

* 4 credit cards total, 3 with balances

* No lates on any card

* reasoning behind the change "low available balance on other cards"

* Currently paying everything off (above minimum balance) and no new purchases

PLEASE HELP!!!

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High uti will do it everytime.  Too bad they went from UD to raising you at the drop of a hat.  If it has no annual fee, just don't use it and pay down your other balances.  Once you get your uti in check call them for recon.  Don't forget o buy a soda every three months with the Chase card.

[fused]

IMHO, Chase is awful. They do not aim to please and treat card members with high util the same as those with low util.