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You need to deal with it. The Chase approach to customer service will be to send a collection agency after you like they did to me (see my other post).
I dealt with it alright. The due date was actually yesterday but since I have cut out internet at home I paid this morning. Except now instead of $ 39.00 for a closed account, I owed an additional $ 15.00 because I was a day late. Again, all on a closed account that has not been used in years.
Yes, I do know what these regulations are all about and I am FOR them but I don't pretend to think they won't affect my interest rates...
I did not see my credit card usage as a free loan because the retailer pays a fee whenever I use my card. So the banks ARE collecting on my purchases even before I pay the bill.
Our current economic collapse was a long time in the making.
There were safeguards put into place (government regulations) after the Great Depression to prevent the same thing from happening again - they were regulations of the finance industry.
In recent history, each administration, both the White House and Congress, were appealed to by the financial types, saying they could no longer compete internationally with those regulations in place.
Both Republicans and Democrats chipped away at the regulations until now there is nothing left of them.
Those regulations would have prevented these risky mortgage investments.
So, this quagmire that we are sinking in was a direct result of UNBRIDLED CAPITALISM, something that was a huge cause of the Great Depression.
We don't need NEW regulation, just put back the OLD stuff we got rid of.
Everyone I have listened to in the media (except MSNBC today) is trying to blame this collapse on greed of the financial industry.
Well, gee, isn't that what motivates these guys? Isn't that their reward for doing a 'good' job?
I mean, they're not running a charity or creating art or inventing things. They are finance people. They are motivated by money.
You can't blame a fish for swimming.
We can blame the government for pulling away the checks and balances on these guys. It is the government that should have been representing US, and not the financial people, but they dropped the ball and like good little capitalists, gave them whatever they wanted and now we, the people, are sunk.
I don't care what label we put on it, but there is no way that this will not keep happening unless we learn the lessons of history and regulate these vultures.
We are well beyond the old capitalist/socialist arguments at this point. We need to breathe.
I dealt with it alright. The due date was actually yesterday but since I have cut out internet at home I paid this morning. Except now instead of $ 39.00 for a closed account, I owed an additional $ 15.00 because I was a day late. Again, all on a closed account that has not been used in years.
Update on my ongoing issue with Chase. Last night I got a bill from them again for a whole whopping $1.00. What this is for I do not know. So now that I have paid them their dollar, I have paid a grand total of $55.00 for an account that was closed and not used in years. And to top it all off, they own my Kohls account and have cut my limit on that. Again, perfect credit, low balances, no late payment and Chase still finds a way to stick it to me. I really really hate these folks and myself for ever getting into debt with them. Although considering the account I referenced had been inactive for years and closed it is a wee bit hard to hate myself because I have had no freaking debt with them. Can't wait to see what they try next. Maybe I will get a bill for a quarter!
ALL big banks suck, they suck the life out of the American economy then demand taxpayer bailouts while they continue to party down and hand out billions in bonuses.
For the individual wage earner, find a Credit Union you can join, or use small hometown banks. I have zero use for these for profit greedy corporations, and have zero dollars with them. I belong to two credit unions and have every banking service I could want or need, and pay zero in fees.
Hear, hear! Let's you and I shout this from the rooftops to the American public. Credit unions are definitely the way to go. I am SO done with these big, monolithic, greedy, profit-driven banks!
I have the same problem! They just pushed my interest way up to. Been with WaMu for 8 years never late and this is how chase repays me. Wonderful isn't it.
What they are doing to people is WRONG. They raise the rates and refuse to negotiate or listen to reason. I mean if they are worried about people defaulting, isn't raising the rates counter productive???
The way they have my bill is it is pretty much all interest and $10 toward the principal....RIDICULOUS! And you pay because you are trying to be responsible, keep your credit up, etc. BUT at what point do you say enough is enough....What if all their customers just refused to pay such absurd rates? Think they'd work with them, us, then? Strength in numbers people!
I know and I have been paying too.....but since the latest rate hike, I feel angry or angrier and feel like they are taking advantage of people trying to do the right thing and they are abusing their power....of which they have waaaay too much of.
I wish the government would step in and put a stop to this. Instead they just keep giving them more $$$.
It's a fact that cc companies prey on certain groups of people.....now it seems it is everyone.
So again, the only way to stop them is with strength in numbers. I've already written to my state rep and people are bring class action suits against them but I don't think that really does anything. To me, it seems the only way to stop them is to hit them in their wallet! They don't mind doing it to us so why feel guilty anymore?
We have been Washington Mutual customers for MANY years (15+). They were recently acquired by JP Morgan Chase (this ruined Wamu).
Let's try this again:
Depositors made a run on WAMU and withdrew almost $16.4 Billion in 10 days.
The U.S. office of Thrift Supervision seized the bank from its parent company and placed it in recievership with the FDIC. In turn, the FDIC sold it to JP Morgan Chase. Wamu was dead meat long before it was seized by the FDIC. Many believe its troubles began with the acquisition of Long Beach Mortgage in 1999 and more importantly its rapid expansion, through Long Beach, into subprime lending.
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Let's hear it for credit unions!
Credit unions are definitely the way to go. I am SO done with these big, monolithic, greedy, profit-driven banks! 
