Beginning May 1st, Chase will raise "preferred" credit card interest rates to prime +11.99% with a 19.99% minimum APR. Credit card "non-preferred" interest rates are going to a fixed 22.99% APR. http://www.cardweb.com/cardtrak/news/2002/march/21a.html
Re: Chase Raising ALL to 19©99!!!! Hell no, we won't go. I'll have my card sockdrawered the second they do that. Their "R" dept. can probably save the day. Saar
Yeah, this was in my bill that I got the other day. I'm only a little concerned, since my only balance is a 3.99 for life BT. I didn't want to use it for purchases at 14.99%, there's no way I'd carry a balance now! This is worse than NextCard.
OUCH, I just realized it was a variable rate, with 19.99 being the LOWEST, I had thought it said fixed, which would have been bad enough! THIS is unacceptable!!!
AIN'T GONNA' GO THERE!!!!!!! I thought my "GO-TO" 11.73% & 12.24% on my 2 CHASE cards was HIGH?????????????
Got the bad news with my statement yesterday. But I just got Juniper Platinum (thanks, Dani et. al.)...$5K CL is enough to transfer both DMB & Chase balances & still keep UR low.
Re: Chase Raising ALL to 19.99!!!! I just telephoned Chase, and the woman I spoke with ("Mrs. Mann") said they had received quite a few calls today regarding the CardWeb article. She said that the "repricing notice" (to use her term) was only sent out to the "customers who have become what we call high risk" to quote her directly. More: "Web sites like that sometimes are like tabloids in that they provide some of the facts but not all of the facts, so it's very misleading." When I asked if my rate, which is prime + 5.45%, was slated to increase, she looked at my account and said no. Doc
Re: Chase Raising ALL to 19.99!!!! I got the notice too, but it said the following : Preferred rate for advances was going up to prime +11.99% with a min. of 19.99% Non-preferred rate was going up to a fixed rate of 22.99% It didn't say anything about preferred purchase rate. I have a platinum card. My current purchase apr is prime +1.4 = 6.15%
Re: Chase Raising ALL to 19.99!!!! Wow, that IS low! Especially for a Chase. Did you have to negotiate to get it? Saar
Re: Chase Raising ALL to 19.99!!!! No, I was offered it as a pre-approved offer back in 2/2000. I''ve had the card for just over 2 years now.
Re: Chase Raising ALL to 19.99!!!! Just confirming ... the notice I received today indicated ADVANCE rate was PR+11.9, and that default rate was going up >24%. Existing margin for preferred rates on purchases remains in effect. Their wording on this statement is AWFUL. I can see why so many people got scared when they saw it. My gold star of the day award goes to B of A - their account agreement is writted in extremely clear, everyday language that's easy to understand. -mj
Hi all - I wanted to get a CHASE card when the chap 13 fell off - now I don't see any reason to go for it... Again, I'm in a different mindset not carrying any balances and using my AMEX for 99% of my purchase. BUT, why have a card that charges so much if you do need to spread payments? My Cap One accts are MUCH cheaper - Hope all is well - Dogman
HERS 9.99% MINE 11.73% (9.90% BT) MINE 12.24% (5.99% BT) NO NOTICES YET...If we get any notices about 19.99%...they will be SOCK DRAWERED!!! I'm DONE closing accounts for now...
THE Interest rate SPREAD... on credit cards is amazing....any card from any lender can be jacked up in a second for little or no reason. Lets face it - prime is what banks charge best customers and other banks - varies er 4-6%. These charge card companies charging 20-24% ARE definitely making a profit. AND of course, there is NO LIMIT to what the credit card banks can make - application fees, fees for higher limits, etc. Hope you are GREAT, George - arrfffff - dogman
Re: THE Interest rate SPREAD... PROOF~~~FIRST USA "JACKED ME" FOR NO REASON TO 22.49%...I "JACKED" THEM BACK...
Re: THE Interest rate SPREAD... this smells. They jack the rates, the people on the boarderline of paying get screwed. their balances either never go down or they default... more fees. if they try to bk the cc now has priority status for repayment: meaning, bk has no derog nature for cc anymore. So happy for my really prime Cap1 8.9 fixed across the board rate. I can use my card and I never see my rate move because of utilization...
Re: Chase Raising ALL to 19.99!!!! What about mj's above post. Has anyone who got the notice re-read it, to see if it only refers to cash advances? They may have sent different notices for different cardmembers. Saar
