Chase Bank Sucks!!!

[M2MG]

Never late on a payment, always paid more than the minimum.

Today, the butt hooks at Chase Bank send me a rate increase from 9.9 to 19.24 percent

I called and complained about the rate hike and the manager said it was because the cost of them borrowing the money from .gov has increased so much.

What bull$hit, they borrow from the Fed at 1/2% and loan is out at 19.24% and complain about how difficult is to make a profit.

Can't wait to pay off the card and send it to the CEO's house cut up in little pieces.


M2MG

[ronaldrwl]

Not intending to be preachy but if possible never carry a balance on your credit cards, pay them in full. Never pay their interest and fees.

[Ah Pook]

Chase has always sucked. You're just figuring it out?

[Irving]

Chase and Bank of America are the worst. At least they didn't pull the bullshit move where they change your due date without notifying you, then charge you with a late fee and jack your rates up.

As far as credit is concerned, you are supposed to carry some balance on some cards, but that doesn't mean it has to be much. Otherwise, I agree with Ron.

Both my credit card rates went up to at least 19% (probably higher though), and I was under the impression that pretty much everyone was having arbitrary rate changes.

I recently got an email from stupid Bill Ritter about this, but it is hard to take anything he says seriously, so I don't remember if he was claiming to fix this or not.

[BigBear]

Not intending to be preachy but if possible never carry a balance on your credit cards, pay them in full. Never pay their interest and fees.

Before I cancelled the account and cut the card up, they tried to raise my interest on a ZERO balance, no late payments, etc. I did send the cut up card to the address on the back with a nice little note attached. Never heard from the @#^& again.. Although I did get some consumer survey type spam mail a few times, HAHAHA.

[Irving]

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.

[BigBear]

Agreed Sturtle, I have other cards that I do that on... Just not BoA or Chase.

[TFOGGER]

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.

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!

[twitchyfinger]

ALL banks suck!!! Same with insurance companies also!!! Two of my biggest pet peeves in live. I will stop now just to keep my stress level down.

[Bailey Guns]

I've got news for ya...it ain't just Chase. The interest rate hikes are a direct result of the pending Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009.

This is the bill that was passed earlier this year. The bill that Democrats were so determined to pass that they allowed the Republicans to attach the amendment that will allow concealed carry in national parks. It takes effect early next year.

The bill was passed to - you guessed it - PROTECT the consumer. A classic case of, "We're from the government and we're here to help you." In other words, it was and will continue to be a total goatfuck piece of legislation. In a really small nut shell, the bill puts restraints on when and under what circumstances credit card companies can raise rates. It was the brainchild of Sen Chris Dodd (yeah, that guy. The one who got all the sweetheart mortgage deals from Countrywide and who has a buttload of other ethics issues to deal with). It was co-sponsored by our own Sen Udall.

Go figure that those two geniuses couldn't foresee credit card companies raising rates in advance of the legislation taking effect. But that's what's happening. It's a preemptive strike by the credit card companies because of the restrictive legislation coming straight at them.

I just got an email update from Udall regarding this. As usual, he's using the tactic of blaming the big, bad credit card companies. What he understands but hopes you DON'T understand is that this is his and Dodd's fault along with the other idiots who supported it and Obama who signed it. Now he's introduced...yep, with Dodd...more fucked up legislation to "fix" the initial fucked up legislation.

This is just like during the 94 AWB. The Democrats laid out the rules...guns can't have threaded barrels, folding stocks, pistol grips, bayonet lugs, etc... The gun companies COMPLIED with the law and took those features off their guns. The Democrats, because they were stupid and didn't know jack about guns when they authored the law, cried foul. The Democrats accused the gun companies of CIRCUMVENTING the law when, in actuality, the gun companies were following the law to the letter.

The same thing is happening here except it's credit card companies instead of gun companies.

And we wonder why government doesn't work.

Here's a link to the Credit CARD Act of 2009: http://www.whitehouse.gov/the_press_...-Card-Holders/

Sorry...it ain't the credit card companies to blame here. I'm not saying they're good and looking out for my best interests but they're not the only bad guy in the equation. You have to look no further than Democrats in congress. Go fuckin' figure.