This month, I mistakenly forgot to make my Chase card payment on time. I missed the due date by 7 days (I've always paid online). I noticed that I had been charged the late fee, and then I got a notice in the mail with my updated statement to show that they have received the payment. Anyway, I look at it, and I saw that my nice 6.99% had been shot up to 14.99%! Is there anything I can do about this? any chance that I might get my 6.99% back? I'm hoping to get some info here before I call them, so I know what I might expect (especially for any of you who might have dealt with this before).
Pay it off, or BT it to a lower interest card, stop using it, and carry 0 balance for a while. They will see they are missing business and you should start getting BT offers from them. It may take a while before the offers, and the purchase rate, drop back down. In the meantime, don't close out accounts you are not using, to maintain your overall balance to credit limit ratio and keep your FICO score up. Your payment wasn't 30 days late, so it shouldn't be visible to other creditors as negative. You might even open a CC account with a bank different than any of your existing ones, if their terms are competitive, to diversify your credit relationships. Don't waste time with any offers with rates higher than your other low rates, even if the teaser rates are low.
Unless you've just gone delinquent on another account that reports on your report or have other problems with Chase, they will very likely be willing to overlook this mistake on your part if you ask for your old APR back. Just make sure your payment has posted before you call, otherwise you'll likely simply be told to call back once it has posted.
Hi just a little FYI Chase is in a transition period I am told. and there were errors with the interest rate being adjusted due to their recent merge. I am awaiting a revised written disclosure in the mail as I freaked when my rate jumped as well and called them on it. your rate should be 6.99 (prime) or + 5.99 the 14.99 is an error UNLESS you have 2 late payments within a 6 month period or exceed your CL 2x in that period. I have personally found chase to be very helpful with correcting any errors. good luck
good to hear that. my rate has been 6.99 for years.. i was a little concern after ur first post. Chase is a good bank to deal with in my own experience
