I had no idea this was coming even though they said they mailed it back in June. Chase Bank has attacked my fiscal well being...
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My Minimum payment (which is the amount I was paying) on my Chase Credit Card has more than doubled. WHAT?? That's right it went from 2% to 5% MINIMUM payment each month. After reading many comments across the internet, this has surprised many people, all expressing the same sentiments. How can a bank that took Billions of dollars in Bailout now attack consumers who have been making their payments on time.. This appears to be nothing more than an attack of consumers who locked in on low interest rates 3-4% range long term rates and Chase wants their money back by putting people in a jam.
Especially at this time when MANY people are struggling to get by and avoid bankruptcy. One comment I saw had their payment go from about $500 to above $1000. Mine went from $224 to about $550.
The person I talked to at Chase said that they will be happy to lower my minimum back to 2% if I agree to an 8% rate for two years and then unleashed to a higher rate after that. I call it Blackmail. Bastards.
Here is one link I found where people are devestated:
http://www.consumeraffairs.com/...
I think I will call my State's Attorneys Office tomorrow. WOW, does that give Capitalism a bad name or what??