Parkntwoputt
05-03-2006, 10:19 AM
This is absolutely the worst company I have ever done business with. Their practices are appalling, foolish, and down right dirty.
I had maintained a fairly large balance, financing my way through graduate school and building a household. At no time was I making late payments, and always paying more then the minimum.
Since the inception of my account with Chase (formerly Bank One) I had an acceptable 7.9% fixed APR.
When I booked my hotel for Worlds, I was informed that my card would be charged for the week. I was fine with that because I knew I had the available credit, and was sitting in a cash situation to completely offset the charge when the billing cycle closed.
So my card was charged. My balance approached 5% of my credit limit, (this lasted a grand total of 10 days).
I received a letter from Chase Card Services stating that they were increasing my APR and changing it to a variable rate. This change resulted with me now paying over 16%. This was soley because I was approaching my available credit limit. Notice I said "approaching" I never went over, or reached the maximum.
At this time I was able to make an electronic payment to Chase. The customer service agent told me that this would cover me for my upcoming payment.
Today I noticed they cut my available credit because they say I never made a payment. The customer service agent lied to me. Today I cancelled the card with them and I will never use their services.
This is a deplorable company. I advise everyone to stop using their services. There are many other credit card companies who treat their customers in a fair and just way and do not lie to them concerning when payments are due.
This is not the way to do business.
I had maintained a fairly large balance, financing my way through graduate school and building a household. At no time was I making late payments, and always paying more then the minimum.
Since the inception of my account with Chase (formerly Bank One) I had an acceptable 7.9% fixed APR.
When I booked my hotel for Worlds, I was informed that my card would be charged for the week. I was fine with that because I knew I had the available credit, and was sitting in a cash situation to completely offset the charge when the billing cycle closed.
So my card was charged. My balance approached 5% of my credit limit, (this lasted a grand total of 10 days).
I received a letter from Chase Card Services stating that they were increasing my APR and changing it to a variable rate. This change resulted with me now paying over 16%. This was soley because I was approaching my available credit limit. Notice I said "approaching" I never went over, or reached the maximum.
At this time I was able to make an electronic payment to Chase. The customer service agent told me that this would cover me for my upcoming payment.
Today I noticed they cut my available credit because they say I never made a payment. The customer service agent lied to me. Today I cancelled the card with them and I will never use their services.
This is a deplorable company. I advise everyone to stop using their services. There are many other credit card companies who treat their customers in a fair and just way and do not lie to them concerning when payments are due.
This is not the way to do business.