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jenyphur

CHASE - You are NOT going to believe this!!!

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Oh my goodness. I'm not even sure where to begin. A few weeks ago, I was interviewed by a reporter from Wall Street Journal about being rate jacked by Chase. Well that story was published and on Monday I was contacted by National Public Radio and asked to do an interview about my story. So I went on the radio and explained my situation with Chase and how my interest rate went up to 29.9%, plus late fees, plus returned check fees and the most important..they reduced my limit from 5,000 to 500.

 

Well..this morning, I received a phone call from Chase's executive customer service ( I think that's what she said) stating that they heard me on the radio and that they reviewed my account and history and have credited me back all of the fees and reduced my interest rate back to 14.9%! My account currently has a 0 balance so she could either credit the almost $150 back to my account OR send me a check. I was completely speechless. She specifically quoted what I said on the radio "I felt like I am at war with the cc companies!". She said she is working on getting my CL back (which, to me, is the most important). She said they *may* have to pull my credit again, etc...I explained to her that when they reduced my line, that dropped my score almost 40 points. We'll see. I am in the process of paying down most/all of my debt in the next 11 months. I have had a huge wake up call regarding credit over the past few months.

 

It's nice to know that at least one of them (Chase) does care about us little guys. So kudos to you, Chase. I have a new respect for you. Now, please put my CL back...pretty please.

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Oh my goodness. I'm not even sure where to begin. A few weeks ago, I was interviewed by a reporter from Wall Street Journal about being rate jacked by Chase. Well that story was published and on Monday I was contacted by National Public Radio and asked to do an interview about my story. So I went on the radio and explained my situation with Chase and how my interest rate went up to 29.9%, plus late fees, plus returned check fees and the most important..they reduced my limit from 5,000 to 500.

 

Well..this morning, I received a phone call from Chase's executive customer service ( I think that's what she said) stating that they heard me on the radio and that they reviewed my account and history and have credited me back all of the fees and reduced my interest rate back to 14.9%! My account currently has a 0 balance so she could either credit the almost $150 back to my account OR send me a check. I was completely speechless. She specifically quoted what I said on the radio "I felt like I am at war with the cc companies!". She said she is working on getting my CL back (which, to me, is the most important). She said they *may* have to pull my credit again, etc...I explained to her that when they reduced my line, that dropped my score almost 40 points. We'll see. I am in the process of paying down most/all of my debt in the next 11 months. I have had a huge wake up call regarding credit over the past few months.

 

It's nice to know that at least one of them (Chase) does care about us little guys. So kudos to you, Chase. I have a new respect for you. Now, please put my CL back...pretty please.

 

 

that's great!

 

i would have insisted on no hard pull to restore the CL and/or a CLI.

 

good 4 u!

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My problem is..I'm too nice. I was just so in shock by the call that I wasn't thinking straight. I have always stayed very low balance on this card. I hope they do the right thing.

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Chase doesn't care about you, they care about their image. Since you had 2 interviews already, you're a prime candidate for more reviews, and they're hoping you'll say "Oh, they're so wonderful, they fixed what they broke!"

 

Instead, in future interviews, you shouldn't give them ANY positive benefit. What if you never received an interview, and were ignored like thousands of others?

 

If you get interviewed again, remember the BAD parts, and ignore the repairs by Chase. An unfounded CLD and ratejack is not fixable without compensation. Refund the money they stole? That fixes it? No, that gets them back to point zero.

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Maybe I'm too cynical, but I wouldn't go so far as to say they "care about the little guy". They care about being called out on it in public. If you had called privately and said the same things to a CSR, do you think you would have gotten the same response?

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But at least they didn't just dismiss it and say..oh well...we don't need her anyways.

 

You are correct...I did call in December and asked for the fees to be waived and for my CL to be restored. They said no and that I needed to call back when my debt to income ratio was lower. Which it NOW is since I've paid down almost $5,000 of debt.

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Well technically they didn't steal the money, I did NSF them on a $3.77 balance (long story). So they were within their rights to charge me late fees, nsf, etc even though I think those fees are completely ridiculous.

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But at least they didn't just dismiss it and say..oh well...we don't need her anyways.

 

You are correct...I did call in December and asked for the fees to be waived and for my CL to be restored. They said no and that I needed to call back when my debt to income ratio was lower. Which it NOW is since I've paid down almost $5,000 of debt.

 

Hey I think it's a good thing. It would be bad if they knew about the interviews and still didn't give a damn. Nothing wrong with using a little pr to get things to work in your favor. :clapping:

Edited by ccquest

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Well I will say this...it was a good thing for more than one reason. Like I said...it was a REAL eye opener to my credit situation. I have completely changed my ways this past 5 weeks. No more daily starbucks, not NEARLY as much eating out. I am still at 'war' with them...only because I don't want to be in debt any longer. I hate it. I hate owing anyone money. I am a single Mom. If something happens to me, I would not have another income to rely on. I make good income, there is NO reason I should be in debt. I hate it.

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Well I will say this...it was a good thing for more than one reason. Like I said...it was a REAL eye opener to my credit situation. I have completely changed my ways this past 5 weeks. No more daily starbucks, not NEARLY as much eating out. I am still at 'war' with them...only because I don't want to be in debt any longer. I hate it. I hate owing anyone money. I am a single Mom. If something happens to me, I would not have another income to rely on. I make good income, there is NO reason I should be in debt. I hate it.

 

Print what you just said and stick it on the fridge, and tape it to your credit cards. That's a revelation that most people never think about.

 

I have _SO MANY_ friends who look at a daily Starbucks as just a $5 charge, but don't see that it's $2000 per year, or $60,000 over their lives. Ouch if you're only making $60,000 per year (that's one year of your income over your life GONE for coffee and croissants!). Eating out is a killer. DW and I are foodies, so we spend upwards of 15% of our incomes on good food out of the house. Yet if you think about it, that's 1/7th of our worklives gone on food! OUCH OUCH.

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Well I will say this...it was a good thing for more than one reason. Like I said...it was a REAL eye opener to my credit situation. I have completely changed my ways this past 5 weeks. No more daily starbucks, not NEARLY as much eating out. I am still at 'war' with them...only because I don't want to be in debt any longer. I hate it. I hate owing anyone money. I am a single Mom. If something happens to me, I would not have another income to rely on. I make good income, there is NO reason I should be in debt. I hate it.

 

Print what you just said and stick it on the fridge, and tape it to your credit cards. That's a revelation that most people never think about.

 

I have _SO MANY_ friends who look at a daily Starbucks as just a $5 charge, but don't see that it's $2000 per year, or $60,000 over their lives. Ouch if you're only making $60,000 per year (that's one year of your income over your life GONE for coffee and croissants!). Eating out is a killer. DW and I are foodies, so we spend upwards of 15% of our incomes on good food out of the house. Yet if you think about it, that's 1/7th of our worklives gone on food! OUCH OUCH.

 

 

 

glad i dont go to starbucks I HATE COFFEE

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Starbucks leaves a bitter taste in my mouth.

 

Us fellow single moms will conquer the world one day!!!

 

I am very wise with credit since my BK back in 2005.

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jenyphur, congrats on getting Chase to back down. It just goes to show the power of bad publicity, doesn't it? <_<

 

But keep watching them (and your other CC issuers) like a hawk.

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Very Nice! You would be surprised at how much you can ask from Executive Customer Service for any company and how much they can do for you!

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Well I will say this...it was a good thing for more than one reason. Like I said...it was a REAL eye opener to my credit situation. I have completely changed my ways this past 5 weeks. No more daily starbucks, not NEARLY as much eating out. I am still at 'war' with them...only because I don't want to be in debt any longer. I hate it. I hate owing anyone money. I am a single Mom. If something happens to me, I would not have another income to rely on. I make good income, there is NO reason I should be in debt. I hate it.

 

 

Switch to Iced Coffee.. Its only $2.50 <_<

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Our starbucks was almost $300 one month...my kids discovered that they love their frappachinos at about $5 also..plus their breakfast items. So yes..we have definitely changed our life style for the better. :rofl:

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This was not about you - it was about them and how you were making them look bad! Take what you can get out of their "kindness" and move forward.

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Chase doesn't care about you, they care about their image. Since you had 2 interviews already, you're a prime candidate for more reviews, and they're hoping you'll say "Oh, they're so wonderful, they fixed what they broke!"

 

Instead, in future interviews, you shouldn't give them ANY positive benefit. What if you never received an interview, and were ignored like thousands of others?

 

If you get interviewed again, remember the BAD parts, and ignore the repairs by Chase. An unfounded CLD and ratejack is not fixable without compensation. Refund the money they stole? That fixes it? No, that gets them back to point zero.

 

yeahthat.gif

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Our starbucks was almost $300 one month...my kids discovered that they love their frappachinos at about $5 also..plus their breakfast items. So yes..we have definitely changed our life style for the better. :rofl:

 

Holy moly! If you net $9000 a month in paychecks, $300 a month ain't bad for something frivolous. I'm guessing you don't net $9000 per month though, eh? <_<

 

Today I'm reviewing someone's bank statements and credit card bills for the past 90 days (referral from a church friend), and I just told her in 15 minutes that she's spending almost $1200 a month eating out at ILL restaurants (McDonald's, Wendy's, etc) and she only takes in $2800 net each month. She said for half an hour that she doesn't, until I totaled them up in Excel.

 

Remember, it is NEVER the big stuff (furniture, housing maintenance, etc) that kills you. It's the little $5 and $10 charges that add up VERY fast.

 

Good for you for grabbing the bull by the horns. If you decide you want to go back to the Starbucks days, this is how my DW does it:

 

1. She puts money each week into a savings account (around $200 monthly).

2. When the savings account hits $1000, she buys a CD (usually every 5th or 6th month).

3. Any amount UNDER $10 (say, $9 out of $109, $7 out of $187) she spends on frivolous items, but then adds the difference from $10 to savings. So if she has $118 in the savings, she can spend $8, but has to add $2 to savings to bump it to $120.

 

Since she's been doing this, her frivolous spending is gone (no more charging it!), and she has a few grand saved in just the last 2 years. Amazing how fast the little charges kill you, but little bits of saving add up to HUGE numbers. Sadly, her FICOs are in the gutter, but we're working on that, too.

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Our starbucks was almost $300 one month...my kids discovered that they love their frappachinos at about $5 also..plus their breakfast items. So yes..we have definitely changed our life style for the better. <_<

my oldest (12) loves starbucks and he kept wanting to go before or after school. i said ok, but this will be an allowance and if you want starbucks then YOU have to pack your lunch instead of buying. so far works great for us.

 

the thing is, our starbucks workers have an unadvertised policy for kids. they told dw if your shorter than us, we make your drink w/decaf. so the kid gets it and never knows the wiser.

 

oh, op sorry about the thread jack.

 

i have mixed feelings about this as well. glad thier making it up to you. i'm just disheartened at the lengths you had to go to to get them to recognise that thier policy is whacked when it hits the light of consumer opinion.

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Actually...I'm pretty close to the 9k but it's still WAAAAAYYY too much, especially when we have debt and crazy interest rates and I have a son that plays travel hockey. Now that's the REAL money sucker there. <_<

 

I like your plan. What got me was all the LITTLE credit cards. $200 here...$400 there..it doesn't seem like a lot until you put it all in Excel and get blown away by the total.

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Actually...I'm pretty close to the 9k but it's still WAAAAAYYY too much, especially when we have debt and crazy interest rates and I have a son that plays travel hockey. Now that's the REAL money sucker there. :)

 

 

I heard people talking about this on the radio last week, $25,000 per year??? OUCH. You're a better parent than I would be!

 

 

I like your plan. What got me was all the LITTLE credit cards. $200 here...$400 there..it doesn't seem like a lot until you put it all in Excel and get blown away by the total.

 

Excel is hated by every bankruptcy attorney out there :good:

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Glad OP's credit is getting restored, but it still sounds like Chase is only doing a CYA.

:) If it takes exposing them to get the job done well..... :good:

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