Chase increase your minimum cc payment from 2 to 5 lately?

[lonestarnot]

w/o cause?

[kcass1954]

1. Not mine, but my husband's.

He's had the account for 20 years, and never made a late payment. The interest rate went up, too.

[lonestarnot]

4. Never late, never missed a payment and paid over the minimum every

payment. But will be talking to them about it in the am and if they don't resolve it, welp, bye bye chase you fuckwads!

[Skittles]

2. it's because they were given time to rip everyone off before "reform"

http://abcnews.go.com/Business/PersonalFinance/credit-card-rates-rise-ahead-reform-law/Story?id=8345497&page=2

[SmileyRose]

3. See if they offered an opt out

if they do you can refuse the changed to the account. Your husband will pay according to the old rules but he can't ever use the card again and it will be closed when paid off.

AMX just burnt me and there is no opt out. As I was politely read the script by the heavily accented call center clerk " As you are aware we blew a shitload of money and the US government is putting the smackdown on us. If we are going to screw you with a dirty toilet brush we have to notify you we are going to do so before August 20, 2009. Since you are calling here to bitch about the toilet brush up your wazoo then we are clearly in compliant with the exact letter of the law. You are now free to die for all we fucking care, here at AMX. Thank you for calling, we value your business."


So yes, everyone be prepared to take it sideways - it's open season for 2 more days.

[lonestarnot]

5. BK ct business about to pick up again.

:) :hi:

[SmileyRose]

6. Yup

Mom used to call that "cut off your nose to spite your face"

I have no idea where she got it from and it makes no sense but I understand it.

[lonestarnot]

7. Your Mom apparently never read bk laws. :)

[Warpy]

8. Thank you for that description

I've been trying to warn people about all that shit rolling downhill toward them since 2003.

However, an interest rate of 18% is not that unreasonable for unsecured debt. Anything above that is getting into the territory of usury.

They're doing people a favor by increasing the monthly minimum payment. Instead of being in debt for 35 years trying to pay it down using the minimum, people will be forced to get out of debt sooner. That's if they still have income, of course.

Find a way to enjoy that dirty toilet brush. It's going to be there until you pay those puppies off and get out from under.

[SmileyRose]

10. Fortunately

I had no balance on this one and handed them the brush back. I was mostly amused at the sheer audacity of actually telling me since Congress gave them the go ahead to stick it to people, they are going to do so as much as possible in the time allotted - and they readily admitted it's their own fault for doing a bad job at managing their own risk. I give AMX points for honesty, if not so much business integrity.

I have never carried a balance on anything until recently. My husband was in the hospital for 7 months and we do have one card that's accumulated a small carryover balance while we cross our fingers on reinbursement on medical costs. or until our %50 a month pays it down. We are talking under $300.

[Turbineguy]

9. No, but I notice they charge about 25%

interest by cooking the average daily balance.

[Petrushka]

11. Received a statement from Chase today with a total "new balance" of $1.51 . . .

$.01 for something called "PAYMENT PROTECTOR 1-888-314-4371" plus $1.50 for finance charges.
Minimum payment due? The same as that "new balance": $1.51.

Trouble is: I have no need for PAYMENT PROTECTOR because I'm not employed (retired years ago)
and, besides, whenever I use that Chase card, I don't carry a balance over but pay it in full.

My daughter said that, if I don't pay that $1.51 minimum payment when it's due, it's likely that
Chase'll hit me up with a giant late fee AND raise my interest rate!

So-o . . . during business hours tomorrow, I'll be trying to reach PAYMENT PROTECTOR with more
than a penny's worth of complaining, among other things.