Is Chase freaking nuts???

[FinStar]

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@Anonymous wrote:
I understand all that for sure but I think I'd be ok closing them. The freedom i just opened in may with a bunch of others and the amazon might hurt me some though because it's one of my oldest cc.
Might have to suck it up and like you said,let them fall apart in my sd.

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Well bummer!  So, the terms & conditions you received are not as described from those in elim's post above?  Has anything drastic changed in your overall profile such as score deterioration, higher utilization or several new accounts reporting?  It sounds to me like they are repricing a variety of accounts but I would think the cash advance, overdraft balance APR + other fees would be the major changes.  Maybe others who have received similar changes can share their experience.  I would definitely not carry a balance on the card OP. 

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@elim wrote:

I just received the same letter on amazon card (i think we all did).  it doesn't change purchase APR.

changes are to the following...

cash advance APR

overdraft advance APR

balance transfer fee

late payment fee

return payment fee

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[Anonymous]

Will look at letter first chance I get again,I may have looked over something but I dont think so. I have a 14% utilization so that cant be it. I did open up 5 new cards may thru july. So maybe to many new open accounts.Scores are the same as below and better than when I opened account.

[elim]

i suppose my APR sucks already.   maybe that's why mine did'nt change   ...

edit: my purchase APR will stay at 22.24%    lol

[FinStar]

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@Anonymous wrote:
Will look at letter first chance I get again,I may have looked over something but I dont think so. I have a 14% utilization so that cant be it. I did open up 5 new cards may thru july. So maybe to many new open accounts.Scores are the same as below and better than when I opened account.

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I would definitely check the letter for sure.  I'm thinking, if this were the case, other Chase products that have an APR spread (e.g. Freedom) would be in the same boat with the repricing methodology and you'd see quite a few more posts (or other forums) with regard to any standard purchase APR changes.  Hopefully, once you review the letter again, it may be in line to what elim mentioned upthread.  Fingers crossed!

[CreditCuriosity]

Wonder why they are raising alot of peoples APR's?  doesn't really impact alot of us here on this forum.. Guessing they just want a smidge more profit?

[FinStar]

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@CreditCuriousity wrote:

Wonder why they are raising alot of peoples APR's?  doesn't really impact alot of us here on this forum.. Guessing they just want a smidge more profit?

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Typically, repricing depends on the actual portfolio.  It can be risk-related, performance restructuring, LLR adjustments for riskier accounts, or even in anticipation with the FOMC making changes to the short term interest rates down the road... Only Chase knows though

[Erusidhion]

    In my opinion that Chase Amazon Visa is complete garbage. The Amazon Store Card that can be upgraded into an Amazon Prime Store Card has way better benefits overall. I am glad Chase turned me down for the Amazon Visa a long time ago and instead I got a chance to get the Store Card. You get 5% back and you get 6/12 months 0% apr on purchases and then there's also 12/24 months 0% apr on select amazon items.

    If they did approve me for the Visa I would have probably sock drawered it and used it every 3 months or so just to keep it active. I believe the raising of the APR falls in line that the Store Card from Synchrony is kicking their butts hard. Since it's Synchrony... I'm hoping that eventually it'll be upgradeable into a MasterCard. We'll see. I'm unsure what kind of contract Chase and Amazon have right now but it looks like it'd be in Amazon's best interest to just dump them.

[FinStar]

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@Erusidhion wrote:

    In my opinion that Chase Amazon Visa is complete garbage. The Amazon Store Card that can be upgraded into an Amazon Prime Store Card has way better benefits overall. I am glad Chase turned me down for the Amazon Visa a long time ago and instead I got a chance to get the Store Card. You get 5% back and you get 6/12 months 0% apr on purchases and then there's also 12/24 months 0% apr on select amazon items.

    If they did approve me for the Visa I would have probably sock drawered it and used it every 3 months or so just to keep it active. I believe the raising of the APR falls in line that the Store Card from Synchrony is kicking their butts hard. Since it's Synchrony... I'm hoping that eventually it'll be upgradeable into a MasterCard. We'll see. I'm unsure what kind of contract Chase and Amazon have right now but it looks like it'd be in Amazon's best interest to just dump them.

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Great speculation but seriously doubful that is the case.  Some individuals like the Amazon Visa, others like the SYNCB store version - yet, there's a handful that have both to maximize various angles from rewards to long-term financing options.

AFAIK, SYNCB has no plans in changing the Amazon store card to a dual-card product (i.e. MC) in the foreseeable future.

[Anonymous]

Whats irritating is its just before Christmas and there trying to make a buck wherever they can. My card at 0 balance is easy prey. I either except it or close it.
Oh well I'm glad I don't owe them anything,and I have better cards I can use. No big loss.

[elim]

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@CreditCuriousity wrote:

Wonder why they are raising alot of peoples APR's?  doesn't really impact alot of us here on this forum.. Guessing they just want a smidge more profit?

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  yep, they must be in a pinch paying off the churners.    they can raise my purchase apr to 50%,  it wouldn't bother me at all.  card's a decent earner with the limited choices i have for amazon purchases.

december 14' and october 15'  statements

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