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Yes We Did Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 12:45 PM
Original message
Chase Bank: Fuck Everyone!
Edited on Fri Jan-30-09 01:03 PM by Yes We Did
The other day, I told you about my mother and how citibank had jacked up her interest and payments, despite the fact that she's had them for more than a decade and NEVER been late.

Well, now Chase bank is doing the same thing. Her interest got raised, her payment jumped by over $100 a month and now they charge a $10 fee on top of that.

When she called, they said they sent her a letter last month.

Once again, this is a woman with as good of a credit rating as you could possibly get.

Now... since chase owns WAMU, you can probably expect the same from them in the near future.

Does anyone know, or has anyone heard when Obama is going to go after these SOB's?
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Donnachaidh Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 12:47 PM
Response to Original message
1. wouldn't it be more appropriate to ask BIDEN?
After all, he is friend and ally of the credit card companies. I'd love to hear how he plans on correcting a problem he helped cause.
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graywarrior Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 04:03 PM
Response to Reply #1
29. And his approval of the bankruptcy bill
Grrrr
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tabatha Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 12:48 PM
Response to Original message
2. I just cancelled my Chase (little used) credit card.
They have to keep those millionaire salaries. Screw the people.
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20score Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 12:49 PM
Response to Original message
3. Chase holds my mortgage and I can back up that claim.
Fuck everyone, (but Chase) is their credo.
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arcadian Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 12:50 PM
Response to Original message
4. Fuck everyone? I missed that promotion.
When ever I go in there they just try to give me a tote bag if I open a new checking account.
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damntexdem Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 01:54 PM
Response to Reply #4
16. Yeah, but now the tote bag will have the slogan imprinted on it.
;-)
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nykym Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 12:52 PM
Response to Original message
5. I have often wondered
if we had a nation wide boycott against all banks. We could pick a day say Nov 5th and withdraw all of our assets. cancel all our credit cards etc. What would they do then!!
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Nicholas D Wolfwood Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 01:23 PM
Response to Reply #5
14. I'm pretty sure that happened already.
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Sebastian Doyle Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 12:52 PM
Response to Original message
6. Just heard a caller on the Thom Hartmann show with similar circumstances.
She said that she told the bank (don't know if it was Chase or not) that she would not accept the higher interest rate or payment, and that they backed off.

As long as you're credit is good, it's worth a shot. These bastards take for granted that most people will NOT challenge them
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4 t 4 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 12:57 PM
Response to Reply #6
8. Chase makes
something like 78% of their money from feeing everyone to death. I don't know that to be completely true I was told that once by a boss. I've banked with them for years don't ask my why and I have have fees to numerous to count.
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Blackhatjack Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 12:58 PM
Response to Reply #6
9. "Credit is good" ??? They can make your credit score whatever they want....
A couple of lenders can unilaterally reduce or cancel credit lines on accounts you don't use, or raise your interest rates for no good reason, and this all impacts your credit score negatively.

And now there is a new credit score that banks are going to use which you cannot get access to yourself. How is that for credit monitoring?

They presently win because they make all the rules.

Your 'good credit' means nothing to them --and if you happen to have average or below average credit now, just wait ... you are like a deer in the crosshairs. They will pick you off sooner or later.
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JoDog Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 01:09 PM
Response to Reply #6
13. That's correct
Most banks, insurance companies and collections agencies presume that the majority of people will not challenge them on their decisions. They depend on intimidation and the fact that most people don't have the time to wrestle with them.

If you think you've got a solid case, try it. Sometimes a little tenacity is all that is needed.
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Two Americas Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 03:53 PM
Response to Reply #6
24. "credit is good?"
We sure have been brainwashed. Credit is a scam, always was a scam. But people are so invested in their "credit scores" - as though that were a measurement of their worth as a human being.

Slaves - that is what they have made us. Credit is about debt, that is all. Going into debt is not "freedom," it is not "being responsible" it is not moral righteousness, it is not any if the rest of the happy-go-lucky "for everything else there is..." bullshit.

It is slavery - slavery to the financial industry that is destroying the country.

"But I need my credit cards....but I worked hard to earn good credit...but sometimes you really have to use it...."

People talk about credit the way addicts talk about drugs.
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mdmc Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 12:53 PM
Response to Original message
7. As soon as they stop financing the party
The banks give lots to the DNC and DLC...
Once they stop, we will go after em..
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eleny Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 01:00 PM
Response to Original message
10. Remember when banks gave people gifts like a toaster or a blanket for opening accounts?
Maybe you're too young. But I remember a time when each of us in the family opened a savings account at our local Chase and we got all sorts of useful household items.
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dionysus Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 02:28 PM
Response to Reply #10
20. there's some here that still do that.
they offer thingsl ike the aforementioned toaster, dvd player, kitchen gadgets, ect..
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ROakes1019 Donating Member (434 posts) Send PM | Profile | Ignore Fri Jan-30-09 01:03 PM
Response to Original message
11. Congress
Last year Congress passed a bill to rein in credit card companies, disallowing such things as arbitrarily raising interest rates. But I don't know when it will go into effect, not immediately I'm sure. I have a FICA score of 870 and yet Advanta raised my interest rate to 14%. They refused to negotiate for a lower rate and I closed the account. Then there were several messages on my answering machine saying they were trying to contact me about negotiating my interest rate. I didn't call them back.
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Quiet_Dem_Mom Donating Member (251 posts) Send PM | Profile | Ignore Fri Jan-30-09 01:06 PM
Response to Original message
12. bdamomma posted the link to the new Middle Class Task Force site inGD:P.
They are accepting feedback on the site and I've already submitted my suggestion to force the credit card companies to cap the APR they can charge.

http://www.whitehouse.gov/strongmiddleclass /

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Missy Vixen Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 01:40 PM
Response to Reply #12
15. I went there as well and asked Vice President Biden to clean up his mess
The middle class are getting hammered re: credit card interest rates. It's time for the administration to cause legislation brought to the floor that suspends this NOW, not in August of 2010 when it was due to take effect!
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Yes We Did Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 03:59 PM
Response to Reply #12
25. Thanks. Done.
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pa28 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 02:10 PM
Response to Original message
17. I think Chase is raising rates on rewards cards.
I got a notice from them in November saying that my rate would go up to 30% (!) unless I opted out which was in the fine print. They only gave me 30 days to do so which I did but they'll cancel the card. Hopefully she still has time to do so.
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provis99 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 02:10 PM
Response to Original message
18. a credit score isn't a measure of good credit
Most people think if they pay bills regularly, their credit score will go up. This is not what a credit score does. A credit score is an estimate by a credit bureau of how much money a lender could make off of you; if you pay bills regularly and don't allow interest, your credit score will decline. People with high credit scores are simply those people the credit company thinks the lender will make the most money on. So having a high credit score isn't necessarily a good thing.
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Blue Dog Dominion Donating Member (218 posts) Send PM | Profile | Ignore Fri Jan-30-09 04:33 PM
Response to Reply #18
37. Did you just make that up on the spot or did it take you years to develop that theory?
Or did you get it from Financial Batshit Quarterly?
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lunatica Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 02:18 PM
Response to Original message
19. I've been planning to pay off my Chase card and close the account
What they've been charging me every month for 'service fee' which they add to the minimum amount due is twice what the minimum is. My next payment is to pay the full balance off.
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Blue Dog Dominion Donating Member (218 posts) Send PM | Profile | Ignore Fri Jan-30-09 04:34 PM
Response to Reply #19
38. Congrats on getting that balance to zero, but think twice about closing the account.
Especially if the account is very old. Closing old credit lines put a beat down on your FICO score.
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lunatica Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jan-31-09 09:27 AM
Response to Reply #38
47. Why? So they can charge me $100 plus for 'service fees' every month?
If I pay off my credit cards and cancel them my FICO score is good because I never defaulted on payments. Are you a credit card industry lobbyist?
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Blue Dog Dominion Donating Member (218 posts) Send PM | Profile | Ignore Sun Feb-01-09 02:16 PM
Response to Reply #47
49. If you have a zero, they can't charge you service fees.
That is illegal. If you have an annual fee, you can get them to change the card to one that doesn't. Most annual fee cards are ones with rewards.

And you are dead wrong about your FICO score with respect to cancelling cards. FICO scores take into account the age of your accounts.
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Blue Dog Dominion Donating Member (218 posts) Send PM | Profile | Ignore Fri Jan-30-09 02:31 PM
Response to Original message
21. More importantly, why is your mom carrying a balance and paying interest at all?
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Yes We Did Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 03:59 PM
Response to Reply #21
26. Because she can't afford to pay it off.
Why else do you think?
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Blue Dog Dominion Donating Member (218 posts) Send PM | Profile | Ignore Fri Jan-30-09 04:15 PM
Response to Reply #26
34. Did she read the agreement she signed?
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Yes We Did Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 04:55 PM
Response to Reply #34
40. She has had them for over 10 years.
Edited on Fri Jan-30-09 04:57 PM by Yes We Did
She said she didn't receive a letter, and they have never done anything like this before.
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Dr.Phool Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 05:02 PM
Response to Reply #34
43. It don't fucking matter if she read it.
They're the only people in the world who can change the terms of a contract on a whim.
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Irish Girl Donating Member (265 posts) Send PM | Profile | Ignore Fri Jan-30-09 02:40 PM
Response to Original message
22. oh, you mean JP MORGAN Chase?
was a loyal WAMU customer for over two years, always paid my card on time and never carried a balance from month to month. Just received a notice from JPMorgan & Chase that my interest rates are now being jacked up to 30%.

Arseholes is an understatement. Looks like its time to take my business elsewhere.
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sarcasmo Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 03:44 PM
Response to Reply #22
23. Smart, someone will offer you a lower rate, call chase back after you get the new card and let them
Know your new rate.
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Yes We Did Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 04:01 PM
Response to Reply #22
27. 30%.... As in the 30% our senators voted for?
The 30% Obama voted against because he said it was too high. Huh... I guess he was right on that one.

I hope he goes after these assholes.
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SoCalDem Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 04:02 PM
Response to Original message
28. pay them off..cut them up.. use cash
That's the ONLY way to "handle" credit from here on in.,.for a long time..

NO ONE'S job is "secure" anymore, so why take on ANY debt that you need to "carry".. what happens when you cannot pay it?

It's time to reset the "need" button, and use cash for needs..and save for "wants"...
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Yes We Did Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 04:04 PM
Response to Reply #28
31. I just stopped paying them.
But I did it a few years ago. LOL... I wonder how much I owe them now...
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Name removed Donating Member (0 posts) Send PM | Profile | Ignore Fri Jan-30-09 04:21 PM
Response to Reply #31
35. Deleted message
Message removed by moderator. Click here to review the message board rules.
 
Name removed Donating Member (0 posts) Send PM | Profile | Ignore Fri Jan-30-09 04:53 PM
Response to Reply #35
39. Deleted message
Message removed by moderator. Click here to review the message board rules.
 
Blue Dog Dominion Donating Member (218 posts) Send PM | Profile | Ignore Fri Jan-30-09 05:01 PM
Response to Reply #39
42. Sorry about your back
But ignoring your debts isn't going to make the problem go away.
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Yes We Did Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 05:16 PM
Response to Reply #42
44. They don't deserve to be paid.
I followed their rules, and when I needed the help that I paid for they basically told me to go fuck myself. I'm not paying them. I paid them everything I owed them. The rest of it is interest and bull shit charges. When it comes down to it, I'll file bankruptcy. I have no means of paying it back. It sucks, but at this point... I'm out of options, and quite frankly, with how they are acting these days, I don't think I'd pay them if I could.
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Name removed Donating Member (0 posts) Send PM | Profile | Ignore Fri Jan-30-09 06:09 PM
Response to Reply #44
46. Deleted sub-thread
Sub-thread removed by moderator. Click here to review the message board rules.
 
lunatica Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jan-31-09 09:31 AM
Response to Reply #31
48. I wonder how many people have done what you did?
I've thought about it but don't know how to find out. I doubt the credit card companies are going to release that kind of information. But I think they're trying to make up for their 'losses' by jacking up their interest rates and 'service fee' on the rest of their customers.

They can't survive if everyone except the very rich simply stop paying them the interest they charge.
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Blue Dog Dominion Donating Member (218 posts) Send PM | Profile | Ignore Fri Jan-30-09 04:24 PM
Response to Reply #28
36. Amen
If you have no money, credit cards should only be used in an emergency. And having a blind date and needing a new lipstick is not an emergency.
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NashVegas Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 04:04 PM
Response to Original message
30. That Really Sucks
Can you help her pay off her balance?
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Yes We Did Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 04:05 PM
Response to Reply #30
32. I think she and her husband...
are going to just get a home equity loan and put it all in there. Although, probably only if they can get the same rate the have for their house (5.5% fixed)
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NashVegas Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 04:07 PM
Response to Reply #32
33. Ouch
Good luck with that.
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jazzjunkysue Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 04:59 PM
Response to Original message
41. You've got to pay off all your cards, pronto. Starve the bastids.
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laylah Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-30-09 05:51 PM
Response to Original message
45. Capitol One is just as bad!
I called yesterday for help, stating I cannot make my current monthly payment due to life's changes, and asking for help. They could not have given a sh*t less, very cold, very "it will go to collections". Capitol One SUCKS...don't let them into YOUR pocket! :mad:
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BlooInBloo Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-01-09 02:17 PM
Response to Original message
50. If you don't like what they're selling, then don't buy it.
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Hekate Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-01-09 04:23 PM
Response to Original message
51. argh The Chase Visa card I've had since '84 has changed names so often I can't remember the sequence
... anymore, but it's Chase now.

Thanks to your heads-up I'll be looking for major changes, and will eventually phone Chase Customer Service with one of those "introductory low-rate consolidation offers" that come in the mail and ask them if they can match it for old times' sake. I did it once before and it might still work.

Credit card companies are godless, heartless, soulless bastards that are just begging to be extraordinarily strictly regulated. Merciful gods I hope they get hammered, and soon.

Hekate


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Beacool Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-01-09 06:01 PM
Response to Original message
52. I HATE Chase!!!!!!!!!!!!!
They raised my interest to over 23% some time ago for no apparent reason (I too have excellent credit). When I called to question the reason they stated that it was due to my having a lot of available credit. To which I responded that I always paid all me credit cards on time and paid much more than the required minimum. They said that it was company policy and some other B.S. So I closed my account and paid off the balance. Since then the SOBs have taken over my BP gas charge and yesterday I got a letter from them that my WaMu card is now theirs. I cringe to see what they'll do with that card.

I sooooo wish that they were one of the banks that had failed, instead of some of the others!!!!!!!

:mad:
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