Unfair practices by Chase?

[haulingthescoreup]

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johnson_long wrote:

...My guess is, those old Providian/WaMu cards will never be treated fairly by Chase,  If you use it, simply PIF then it won't matter what the rate is,  That's what I do when I use it,  PIF as soon as the charge hits, 

Good luck,

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I'm not sure that it's just the former WaMu cards. I got my notice in the mail that my new APR would be prime + 15.99%, or currently 19.24%. That's just a 1% increase (my credit is hardly sterling, so it's not like I started with a killer APR.) This is on an always-Chase Borders Visa. They also raised the BT fee to 5% and some other junk.

Like others, I PIF, so it doesn't matter to me.

It's interesting, though. I think the banks are using the economy and the new CC law as an excuse to push the envelope and get away with anything they can. It would be funny if, in so doing, they converted a lot of consumers into PIF'ers, and they wound up losing money in the long run.

And yes, I do realize that there will always be those who carry burdensome CC debt. Just wondering if these actions will shift the balance enough to where the banks see a net loss in interest income.

[athensguy]

I've been ratejacked by Citi, FNBO, Discover, and Capital One since 2008 (BoA in like 2006), but not Chase so far.

If you have been ratejacked with Citi and Chase, at least, it might be possible to convert into a card with a lower APR.

[Anonymous]

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@Anonymous wrote:

After the Chase buyout of Wamu my APR went from 11% to 26.99%

Had my card for 3 years

CL is $3000

Never late on any payment

Account balance is  $0 and in good standing

Utilize at least 10%

All three scores are over 700.

I have been pushing every week for them to review my account for lower APR. Every time they deny me.

This is their most recent answer:

"To qualify for a lower APR, your account must be open,
current, at or under its assigned credit limit, and have
had at least 12 months of on-time payments. If these
conditions are met, we will review your request for a
lower APR.

After careful review, we regret that your account is not
currently eligible for the terms you requested."

I have met ALL these conditions even though they say I haven't. 

I would like to keep this card open because it's helping my score.

What should my next step be?  

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Try the backdoor number for them. I called regarding my annual fee (which Chase had said I wouldn't have when the card switched, but then it appeared). When I talked to the regular CSR she basically said there was nothing she could do, couldn't switch my card, couldn't waive the fee,etc. 

I called the backdoor number and almost immediately the gal switched my card and got rid of the pesky AF, I kept same APR, same card number.

[Anonymous]

Chase ratejacked my Freedom card from 10.24% to 14.24%. And they've never made a cent of interest off of me. Like raising my APR is going to encourage me to carry a balance.