Why does "everyone" hate Chase Bank/Credit Cards?

[Floyds4]

I have an Amazon Chase Credit Card and a Military Star Chase Credit Card, I'm never late and pay the balance in full as soon as I make the purchase.

 

Customer Service was always nice when I called with questions, (Indian Reps for Amazon Chase) (American Reps for Military Star) and very helpful, they are also one of the few credit cards that allow a Joint User (not talking about authorized user). Pending charges show up right away unlike the Citi card that we had before.

 

What is it that you dislike about Chase? The only thing that I can think of is the hard pull that they require for CLI and no/few automatic CLIs. Please share.

[kayvebear]

Chase is fine, and has gotten way better lately. I think over all you will actually hear more good things about Chase than bad on this board (at least as of lately)

[TrevorHere]

Each bank has its own quirks. Chase is hard pull happy. And they haved been known to roll out a decent rewards card only to end the program a few months later. They've crippled and capped the rewards on many other programs including Freedom. It used to be a lot more "rewarding" Then , they started requiring customers to sign up for each promo where there was no requirement before. Just a few unfriendly tactics...

[CTSoxFan]

Most times the "love" or "hate" of a lender all has to do with that individuals experience with them moreso than the lender policies, practices, programs, etc. if some one received what they perceived to be a favorable outcome (approved for an account, CLI, etc) they will say they love the lender, and an unfavorable outcome will bring cries of hatred...

 

The funniest part is that people's perceptions change based on recent experience.

 

On the other hand, there are some lenders who are just so bad they are pretty much universally hated (yes I am staring at you first premier...)

[agp]

I do love Chase and I have had nothing but positive experiences with my personal banker as well as the bank in general.

Except the Blueprint function is designed to trick you. Full pay does not equal pay balance in full.

Edited June 4, 2012 by agp

[Floyds4]

Most times the "love" or "hate" of a lender all has to do with that individuals experience with them moreso than the lender policies, practices, programs, etc. if some one received what they perceived to be a favorable outcome (approved for an account, CLI, etc) they will say they love the lender, and an unfavorable outcome will bring cries of hatred...

 

The funniest part is that people's perceptions change based on recent experience.

 

On the other hand, there are some lenders who are just so bad they are pretty much universally hated (yes I am staring at you first premier...)

 

Funny and interesting, I wonder if the hate because of the denial or whatever negative thing that happens like decreased CLs is often? Would that make it the banks fault then?

[road2freedom]

I didn't have problems with Chase, pre-BK. The rewards bonuses were decent, as were the CLs. Since I primarily flew US Airways/United and stayed at Marriott properties, I racked up pretty decently. i'm kind of sad to hear that I'm not likely to get back in with them any time soon, or maybe ever. But I understand.

 

 

The only thing that didn't particularly sit well was when they rate jacked my wife to 29.99% when her utilization started running high and we started paying things down. She even called to ask that they lower it and they were quite rude. They are entitled to earn money and I get that... but it still feels like a sleazy thing to do after all the years she was with them and considering her pristine history (no lates or derogs ever). I've finally convinced her to begin opening new accounts with them again, but it will be mostly to milk the bonuses and rewards.

[jthedges]

I love Chase. Have 5 accounts with them.

[Ron1]

Chase is ok. Not FIA.

 

 

Ron.

[Crashem]

Chase is cool. Don't like their cli policy. Makes it more useful when you have high cl cards as opposed to building your cl

[hegemony]

chase has a pretty good credit card issuer, but not a very good banking institution unless you are getting private services.

 

one of the best aspects of chase for cards is the willingness to combine limits.

[CTSoxFan]

Most times the "love" or "hate" of a lender all has to do with that individuals experience with them moreso than the lender policies, practices, programs, etc. if some one received what they perceived to be a favorable outcome (approved for an account, CLI, etc) they will say they love the lender, and an unfavorable outcome will bring cries of hatred...

 

The funniest part is that people's perceptions change based on recent experience.

 

On the other hand, there are some lenders who are just so bad they are pretty much universally hated (yes I am staring at you first premier...)

 

Funny and interesting, I wonder if the hate because of the denial or whatever negative thing that happens like decreased CLs is often? Would that make it the banks fault then?

 

I don't think it is ever the bank's fault, provided they are abiding by the terms and conditions that you agreed to when you applied/became a card holder. People need to realize it is just business. They can choose to change the terms of your agreement, CLD you, etc. you can choose to close your account.

[MNSCOUT]

I don't hate Chase cards, I love them. Never can have enough of them. For the sheer number of great reward credit cards, they are second to none. Now, Chase banks are another story. I like the service and technology, but all their fees are just a bit too much.

[NorCalR1]

I'm not *everyone*

 

In fact, Chase is my primary card and has been for many years. Highest limit, lowest rates, best BT offers. No complaints whatsoever.

 

However, my primary banking relationship has been with BofA for 25 years. Nothing against Chase, its just that BofA hasn't done anything to get me to leave.

[Stockstar]

No issues with Chase

[jv01]

People hate Chase?

[gogogophers]

I have had pretty good experiences with Chase.

 

I had a Chase Amazon and a Chase Freedom card, both with zero balances, before I had to go through a BK. They lowered the limit on my Chase Freedom card and closed my Amazon card when I filed. I was shocked that they didn't close both. Anyway, the Chase Freedom card survived the BK and it was what gave me a foothold into re-establishing my credit (ok, there's still a long way to go). I'm very happy that Chase took a chance on me and I didn't even have to ask them to do so.

[frank22]

 

The only thing that didn't particularly sit well was when they rate jacked my wife to 29.99% when her utilization started running high and we started paying things down. She even called to ask that they lower it and they were quite rude. They are entitled to earn money and I get that... but it still feels like a sleazy thing to do after all the years she was with them and considering her pristine history (no lates or derogs ever). I've finally convinced her to begin opening new accounts with them again, but it will be mostly to milk the bonuses and rewards.

 

I remember reading here about them raising rates to 30% during the financial crisis. Worse, is they were one of the few that didn't provide an opt out. I think about that every time I see Chase credit cards mentioned and every time I get a offer from them in the mail(about 2-3 times a week). I really think they should have taken a bigger hit in the marketplace for this. One reason the banks act as they do is we just seem to keep asking them if we can have another, they seem immune from any bad behavior. I am sure there were many who had their rate raised and are still with them now. That is what Chase means to me, and I never even had any of their cards.

[Frank13]

Chase is the devil!

 

Several years ago a family member had 3 Chase accounts. The largest cl was 24k and it was used for a large bal xfer and for a large equipment purchase for his business. Yes, the account was highly utilized. The minimum payment was originally 2% of the balance and the APR was 7.9%. There would have been NO problem servicing that debt at those numbers HOWEVER, Chase rate jacked the account (with NO lates anywhere) to 29.9% and increased the minimum payment to near $700 a month from $400-$480. Unfortunately, that caused a cash flow issue which rolled downhill.

 

My family member simply quit paying Chase and everyone else. There was no other choice. The Chase account was not reasonable to pay anymore and the other accounts got behind trying to keep Chase current. Had Chase not rate jacked the account and changed the minimum payment, the account would have been paid off by now rather than charged off. And several other creditors would not have had accounts charge off -- all due to Chase's greed.

 

On the banking side -- you can bank on the fact that the terms of your checking account will change within 3-5 years. I have seen it happen all too often. My family will not bank with a bank who changes the rules at a whim every few years.

 

No, our Fifth Third Bank accounts have the same fees/rules basically in place that they did 25 years ago. If they can do it, so could Chase.

AVOID CHASE LIKE THE PLAGUE!

Edited June 5, 2012 by Frank13

[CTSoxFan]

I thank gogo and frank13 for validating my theory on your experiences determine whether you love or hate a certain bank...

[distantarray]

Chase is the devil!

 

Several years ago a family member had 3 Chase accounts. The largest cl was 24k and it was used for a large bal xfer and for a large equipment purchase for his business. Yes, the account was highly utilized. The minimum payment was originally 2% of the balance and the APR was 7.9%. There would have been NO problem servicing that debt at those numbers HOWEVER, Chase rate jacked the account (with NO lates anywhere) to 29.9% and increased the minimum payment to near $700 a month from $400-$480. Unfortunately, that caused a cash flow issue which rolled downhill.

 

My family member simply quit paying Chase and everyone else. There was no other choice. The Chase account was not reasonable to pay anymore and the other accounts got behind trying to keep Chase current. Had Chase not rate jacked the account and changed the minimum payment, the account would have been paid off by now rather than charged off. And several other creditors would not have had accounts charge off -- all due to Chase's greed.

 

On the banking side -- you can bank on the fact that the terms of your checking account will change within 3-5 years. I have seen it happen all too often. My family will not bank with a bank who changes the rules at a whim every few years.

 

No, our Fifth Third Bank accounts have the same fees/rules basically in place that they did 25 years ago. If they can do it, so could Chase.

AVOID CHASE LIKE THE PLAGUE!

 

 

 

29.9% apr / 12 months = 2.5 percent on a month. that would require you to carry a balance of around $28,000 to aquire a minimum payment of around 700 a month.

 

Remember it's ultimately your reponsibility to hope for the best, and prepare for the worst.

 

That is why they say people should keep their credit / balance under 15% if possible, and that you should hold 6-12 months of emergency funds incase chocolate happens. Yes the rate hike might have been unprecedented, but it seems like you were living beyond your means and was caught unprepared.

 

A responsible person with finances should've had enough money to pay off the cards at any given time and move on. Also remember that Chase is also one of the most forgiving banks, as long as the account is settled or paid they will often remove the charge offs / derogs with a well written goodwill letter ymmv.

[clutchcargo]

I'm loving Chase lately. Last year I snagged approximately $1500 in signup bonus's for checking and credit cards and for CC rewards. This year so far I am at about $450

 

Interest and account fees paid so far = $0

 

They do suck at auto CLI...

[czech2go]

Do not open a Credit Card with Chase Bank.  This is a warning to all potential Chase Bank customers.  Do not and I repeat do not bank with Chase Bank,   It seems that I am thousands of former Chase customers who are warning potential customers.  What was surprising to me that in the lobby that I am currently banking at were former Chase Bank customers who I am sure had spread the word to not bank with Chase to friends and family.  Word of mouth travels a long way with people's money and fraudulent banks.

[MarvBear]

Welcome to CreditBoards.  You are responding to commentary that is over 11 years old.  Why?

[hdporter]

4 hours ago, czech2go said:

Do not open a Credit Card with Chase Bank.  This is a warning to all potential Chase Bank customers.  Do not and I repeat do not bank with Chase Bank,

 

Just in case you re-visit CB after your initial post, I grant that you're free to relate your experience with Chase and to whatever take you personally have based upon that experience.

 

I'll simply note that in close to 40 years of my dealing with Chase, primarily as a credit card holder, and for awhile in having a HELOC with them, my experience has been uniformly positive..  For a number of years Chase Sapphire Reserve has been my "go to" card for travel expenses and dining.  Rewards and card bonuses have been generous, in comparison with most other available credit card options.

 

Again, I'm simply sharing my own experience with Chase.  And, notably, I've never had a deposit account with Chase.  I'm posting to point out that had I not taken advantage of Chase credit card opportunities over the years, I likely wouldn't have come out as favorably via alternatives.