Chase raising rates

hughgrxtion · #1 10-16-2005, 04:47 PM

I just received a rate increase to 20.49% beginning Dec 1, 2005 from Chase. I have never been late with them or any other creditor. I'm going from 10.5- 20.49. After calling them, they stated it was based on a consumer alert with no specifics. I repeat, I have never been late with any creditor. Anyone else get a letter like this?

wisper · #2 10-16-2005, 09:47 PM

On the TV news early today, the financial gurus were stating this is going to happen across the board, as soon as the BK rules kick in, tomorrow I think.

They also said that the real estate bubble has turned around in NY, and could spread all across the country. Nation wide, the inventory of existing homes for sale has jumped, along with interest rates Didn't this same bad news come up about a year ago?

truth4all · #3 10-17-2005, 06:37 PM

Quote:

Originally Posted by hughgrxtion

I just received a rate increase to 20.49% beginning Dec 1, 2005 from Chase. I have never been late with them or any other creditor. I'm going from 10.5- 20.49. After calling them, they stated it was based on a consumer alert with no specifics. I repeat, I have never been late with any creditor. Anyone else get a letter like this?

Not only are they raising interest rates, they are now going to raise minimum payments,
DOUBLE... from 2 % to 4 %.
What nice guys, huh?

Anara · #4 10-21-2005, 03:02 PM

This might be a nice time to learn about novation....