I have a problem with a balance transfer check from Chase MC. In Jan 06 I consolidated 25K debt with a check that remaind at 4% until it was paid off. We set up an auto pay for the 20th of the month to pay from our bank. Chase change the cycle from 25 to 20 day the new payment due date was on the 15th. This happen three months in a row. Chase changes my interest rate from 4% to 25% because the now consider us a risk. My monthly payemrnt more than doubled. Chase says they can change the cycle at anytime and it is their right to increase the rate if we miss a payment. We never missed a payment the bank continued to pay on the 20th and they admit this. I know we should have check the actual bill but with your schedule (work and school) we try to put all bills on auto pay. Our ratio are too high to get a new card with one less job. Customer service says we should pay attention and pay our bill on time. (If that's what you got save it.) If you have any other suggestions please reply. This has destroyed out monthly budget. Do anyone know if we have a legal option? I dont think they are acting in good faith.
Unfortunately you can't do anything about it anymore. Not trying to critisize you, but you should have looked on your monthly statement and noticed that they changed the due date and you should have adjusted your auto-pay accordingly. They - Chase - don't really have to give you a reason for shortening the period between statement cutoff day and the payment due date. That is one way for these crooks to enrich themselves on fees, fees, and more fees. The four biggset thieves: Chase, Citibank, B of A, and DIscover.
