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Chase Manhattan Bank
Chase Credit
Cards: Complaint
Rate hike for no reason - Credit Card rate hike
Posted By: savoy6789
Location: Port Chester, NY
Last month I received a letter from Chase Credit services to inform me that
my APR was raised from the 8.99% to 31.49%.
I called Chase to find out why and asked to correct the mistake. I was told
that my balance had risen too quickly and therefore I was a higher risk
borrower and that is why my rate had to be increased. Obviously the fact
that I have paid my bills, never been late with a payment and was far below
my credit line did not matter. I was told if I did not like it I was welcome
to close the account . We never had any credit problem and never been late.
We have leased one of our car throught Chase and have home equity loan if
they felt we warranted a 31.49% interest rate.
They are just another big boy taking advantage of small folks.
I will never do business with any branch of Chase again. I am in the process
of refinancing my Home equity line and car lease. I don't even want to hear
the name of Chase, period
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