Sneaky, Sneaky, Chase

I have a platinum credit card at Chase. That would be the card with the $3K+ balance. I began the year with my card balance at Chase somewhere near $9K I think. I got the card because it offered 0% interest for a few months rising to 8.99% fixed. You know what’s coming don’t you? I logged into my Chase account this morning to see that my interest rate is now 14.24%. Nice, huh? I know some of you will say, “Well, that’s not that bad. I’ve heard of raises to 25% interest.” Well that’s not the point. I signed up for online statements and correspondences because frankly, I don’t know what the hell the mailman does with my mail. The crap shows up when he feels like it. So I’ve gotten every other notice and correspondence online. Somehow, this ONE letter they send in the mail back in September they said. I never got it.

So I called them this morning asking what the hell is up with my account! You kow you get the standard, oh you can opt out, we sent it a few months ago. So I asked her to confirm that I signed up to get all my crap online. She said yes. So I was royally pissed off and steamed that the most thiefimportant correspondence didn’t come online where I can fricken see it! The privacy policy changes, the dumb offers, the new number to reach them, that Slate crap they sent to my regular inbox and my Chase inbox, but this shit they send in the mail.

I’m glad that I’m diligent and caught it 24 hours after it went into effect because you know what will happen now, don’t you? I was going to concentrate on the HELOC once my car was paid off but now that bad boy will wait until I finish with this shit instead. Don’t say fixed interest rate a year ago if you don’t mean it.

To be honest, I wasn’t terribly shocked but just let me know that you’re going to kick me in the shins like your rules say you will. I guess this is payback for the $125 interest that I got from them for opening a checking account and accelerating my payments. Have I got something coming for Chase because I’m almost 100% sure the way in which they calculate their finance charges is wrong and not in line with their rules. It’ll take me a few weeks but wait for it.

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2 thoughts on “Sneaky, Sneaky, Chase

  • Hi Sandy! The same thing happened to me. Well, this was during WaMu’s buyout.. I had a cc with them that I had exclusively for the balance transfer, bec. it offered a 3% apr for the life of the balance.. THEN fast forward to 10 months and chase took over, I was slammed with a 23% apr and their reason for the raise was because that’s the only apr they have available for me. Good one, Chase.

    Btw, I stumbled upon your site from a post you made from a different website. Its about taking a loan from your 401k. I am planning on doing that, and I’m trying to find helpful articles about it first, whether it’s right for me or not. I am 28 yrs old, you mentioned on your post you were also 28 when you took a loan. I’d like to use the money to pay off all my debts, and my car loan. I’ve learned my lesson regarding credit cards, and I am definitely NOT going down that road again once I’ve paid off all of them. I’m not truly saving money for retirement if i have all these debts, I’d also like to improve my credit. Do you have any suggestions for me? Regarding the loan and just any tips for paying debts, I will definitely browse more thru your website!

    • Hi Pia, send me an e-mail with your financial picture. We can make you a help a reader post and you can get advice from everyone!

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