Chase Bank Sucks!!!

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I'd have to go to meetings where business types would get up to the podium and go on and on about how they randomly would cancel the accounts of the low interest rate card holders, simply so they could get them on rewards cards which the bank always made more money on. I'd see the charts and graphs, and it was remarkable. Remember, the bank makes its money directly from you.

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That's why they call them "Banksters"

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Originally Posted by Stuart

I think it's better to just leave the card open with a zero balance. You can't pay interest on zero dollars, it greatly helps your debt to credit ratio, and it makes them work for your money when they stare at your zero balance year after year.

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Originally Posted by TFOGGER

I just had one of my cards closed out by the creditor because I held a zero balance on it for more than a year. bastids!

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I worked for several years to get Discover to lower my interest rate to a reasonable level (like others here, I didn't have late payments, not over my limit, paying more than the min, etc.). They would only lower once every 4 months but they lowered it a point or two each time I called and complained. So, about 2 years ago, not even 6 months after finally getting it to an acceptable interest rate of around 11% (for Discover), I notice that it had gone back up to 21%. I called to complain and they said that EVERYONE's rate had gone up "by policy". I had a small balance which I immediately paid off quickly. I haven't used the card since so I'm waiting to have the card cancelled due to inactivity.

Sad thing is that this card/account HELPS my credit score since I've had it since the 1980's. Plus, the new rules for credit look at your available credit.

They'll get you coming and going.