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Chase Rate Jack from 7.9% to ~22%


blah bleh
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The last post in this topic was posted 4716 days ago. 

 

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I would like to say hello to everyone here. It has been a long time I have not visited this forum because I have been keeping low profile to protect my credit stuff. So I did not need to come to this forum for a while.

 

I heard that many people have been getting rate jack and CL slashed. Well, I thought I was lucky that I only got CL slashed once from BofA (30K to 15K). However, another bad luck shined upon me when my Chase card finally got rate jack today.

 

Below is the scanned letter from Chase that informs me the rate jack. This just killed my day completely.

 

Scanned letter (PDF file) ---> http://www.mediafire.com/file/j3w0yjvwwxq/091023 Chase Notice APR Increase.pdf://http://www.mediafire.com/file/j3w0y...PR Increase.pdf

 

My Chase card is regular prime card with 7.9%, usage about 25%, been paying on time every single month, never late. Yet, they chose me to rate jack.

 

Please report if you also get this letter. If anyone call in and can remove the rate jack, please let me know how you do it.

Edited by blah bleh
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I would like to say hello to everyone here. It has been a long time I have not visited this forum because I have been keeping low profile to protect my credit stuff. So I did not need to come to this forum for a while.

 

I heard that many people have been getting rate jack and CL slashed. Well, I thought I was lucky that I only got CL slashed once from BofA (30K to 15K). However, another bad luck shined upon me when my Chase card finally got rate jack today.

 

Below is the scanned letter from Chase that informs me the rate jack. This just killed my day completely.

 

Scanned letter (PDF file) ---> http://www.mediafire.com/file/j3w0yjvwwxq/091023 Chase Notice APR Increase.pdf://http://www.mediafire.com/file/j3w0y...PR Increase.pdf://http://www.mediafire.com/file/j3w0y...PR Increase.pdf

 

My Chase card is regular prime card with 7.9%, usage about 25%, been paying on time every single month, never late. Yet, they chose me to rate jack.

 

Please report if you also get this letter. If anyone call in and can remove the rate jack, please let me know how you do it.

 

Welcome to the club!!!

 

They're doing this to everyone I know that ha a Chase card. I have called numerous times to try to get mine reduced. It hasn't worked. I don't know of anyone who has gotten it to work.

 

Ther have been a billion threads on this topic recently. You're not alone. Chase is determined to run off all its cusomers - good or bad.

 

If you really want to elevate your blood pressure, read the threads about how they continue to rate jack people who have opted out!

 

Chase sucks these days!!

 

Sorry they got you too!!

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@bikrtrsh:

I did some research for rate jack but did not research enough to come across Chase rate jack. I did not think that everybody that had Chase card got rate jack. Other people got it even worse than I did (higher rate jack).

 

And I always thought that I could stay with Chase until the end of time. Thank you so much for the wake up slap. I will be more watchful with all of my cards from now on so I will not be disappointed when things become bad.

 

@moneypit: So maybe they did not want you as a customer anymore that they felt so happy when you paid off your card that they could finally kick you away? I still have balance with them so that is probably why I have not been kicked away yet. They still want my milk as long as they can still milk me. I am sorry to hear about your situation.

 

@Lynn37: Maybe you should look at moneypit's situation. Maybe carrying a little balance is better than carrying none, which may result in a card closure. Just a thought. Who knows? The next morning, they may close your card even if it carries a balance?!

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@bikrtrsh:

I did some research for rate jack but did not research enough to come across Chase rate jack. I did not think that everybody that had Chase card got rate jack. Other people got it even worse than I did (higher rate jack).

 

And I always thought that I could stay with Chase until the end of time. Thank you so much for the wake up slap. I will be more watchful with all of my cards from now on so I will not be disappointed when things become bad.

 

@moneypit: So maybe they did not want you as a customer anymore that they felt so happy when you paid off your card that they could finally kick you away? I still have balance with them so that is probably why I have not been kicked away yet. They still want my milk as long as they can still milk me. I am sorry to hear about your situation.

 

@Lynn37: Maybe you should look at moneypit's situation. Maybe carrying a little balance is better than carrying none, which may result in a card closure. Just a thought. Who knows? The next morning, they may close your card even if it carries a balance?!

 

You are correct, I spoke to my brother he says he will not be able to pay off a 1.2 balance before dec 1 anyway. So he says he will try to chop it in half and see what happens.

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Yep, got me also.

 

I'm taking it in stride though because frankly I expected AA from Chase from the moment I opened my account.

 

I was always wary of them and BofA actually.

 

I'm actually surprised that I haven't seen any AA prior to now, (not that they would need justification as I've never given them any).

 

Mine won't go into effect till Jan., I plan on gathering more cards in my sockdrawer than socks anyway.

 

We'll all be okay in the end when this all shakes out though.

 

Things will certainly look a lot different with regards to the credit landscape in two years or so.

 

Don't worry be happy...!!!

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Mine won't go into effect till Jan., I plan on gathering more cards in my sockdrawer than socks anyway.

 

I thought I read just a week or so ago that Chase was one of the banks that promised Congress they *wouldn't* give their cc customers any additional jackage until after CARD Act is passed? Can't say that anything Chase does surprises me though, especially not honoring their word :lol:

 

Also: if CARD Act goes into effect earlier than Feb. 2010 (say Dec. 2009), would this maybe make the Chase ratejack a moot point, if CARD Act could supersede the Chase RJ CIT?

 

I haven't been particuarly fond of Chase since they astronomically jacked a card I had with them at Prime+1.25% several years ago, for no apparent reason, and also b/c of all the horror stories everyone's mentioned about them on CB.

Edited by Knight2008
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