A couple of months ago, Chase sent me a notice about my prime+1.4% interest rate. I could either close the account or accept their new terms. They would have the right to raise my interest rate if I had ever been late with them OR OTHER CREDITORS, or went over my limit, bounced a check, etc. They said they could use historical information for this. So if they check Experian, which they did when they denied me a limit increase in December, they would see two lates/collections/chargeoffs falsely redated to 3/2000, just over a year old. Any repricing takes effect with my first statement after May 1, so I'm just waiting this one out. A rep did say that she saw no code for an APR change on my account, but that a code could be entered later. The lesson in all this? As many have reported, Chase is getting far less tolerant of credit problems. They may still offer you a card, but at a stratospheric interest rate. Their drive to punish those with credit problems is now leading them to make retroactive changes. I no longer see Chase as the haven for others that it was for me. I'll soon find out whether it remains a good deal for me.
Chase Repricing Notice Author: RichGuy (mn-pub39.library.arizona.edu) Date: 04-26-01 01:45 A couple of months ago, Chase sent me a notice about my prime+1.4% interest rate. I could either close the account or accept their new terms. They would have the right to raise my interest rate if I had ever been late with them OR OTHER CREDITORS, or went over my limit, bounced a check, etc. =====It's a RACKET BY ALL CR CARADS!