Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Just got a notice stating my APR will be going up next month. Take it or leave it..20 Years as a customer..always paid on time..
Notice stated "raising in response to markey conditions and to maintain profitability on my account".
WTF?? I have a high balance and they are making huge profits on my account each month..
Ill tell ya..the banks are making it near impossible for people to do anything these days. Cant get car loans, mortgages, now going after the people with credit cards.
Closing this account and will never deal with chase again..Trash..So its my fault chase is getting hurt giving out bad loans..and I need to pay their CEO millions every year....so they need to raise my rates.
this is an easy fix - don't carry a balance. if you can't pay if off every month, then you didn't really need or should have purchased it in the first place. take responsibility for your financial situation.
A friend of mine was with Chase and ran up a large balance...always paid a little more than the minimum right on time, years with Chase. He paid them $30,000 at one time to clear up most of the balance after selling a home. He was a day late. They nailed him for over 20% APR. Nice,huh?
Just got a notice stating my APR will be going up next month. Take it or leave it..20 Years as a customer..always paid on time..
Notice stated "raising in response to markey conditions and to maintain profitability on my account".
WTF?? I have a high balance and they are making huge profits on my account each month..
I got the same letter. I am a long time holder of a Chase card with a very high credit rating. My ARP was 9.9 last year, so I called them and spoke to a supervisor and she got me lowered to 7.9 for two years. I will pay off most of it, never close it out. Of course, after two years, who knows how high the APR will become.
All the creditors are lowering borrower limits. I had a BOA Visa with a $30,000 limit. I was building a new showroom in Galveston with that credit line because no lenders are lending monies for new business. I was taking a huge chance but am confident in what I do. Then some guy comes in off the street and liked my ideas and offered to buy me out. He wanted the business.
I said maybe but I was joking because this was my dream. His offer was just about $6000 over what I had into the venture so far. Nothing to make me rich, Im far from it. But I weighed that $6 grand with the time I already invested (which wasn't much) and the risky economy which is in a depression and took it.
So I paid off the $13,000 balance that I used so far and just last Tuesday which was the very next statment after paying it off, I got a letter from BOA. It said they lowered my credit line from $30,000 to $5,000.
Their loss, not mine. Bunch of communists. But yet they give unsecured credit cards to illegal aliens who have no SS card and having no incentive at all to pay back balances.
No changes yet with my Chase card but then again... I never have a huge balance - typically under 2K which I pay off immediatley. You have to call them and tell them that you are considering transferring to another card... watch how quickly they drop that rate back down : )
Never carry a balance. Credit card companies will increase your rate if your credit score dips as a result of high or growing balance, late payments. The rate will also not reverse itself easily, so I recommend rolling it into another card provider with a lower rate if you can't pay it off.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
