Credit Card Universal Default Charge Tips
Author: AJ
Posted: Thu Jun 22, 2006 6:42 pm
Post subject: Chase & Their Universal Default
I had 2 platinums at 9.9 fixed , had accounts for 10 years, never been late. Wanted to change rate to 28.9 due to what they call "Universal Default" I only have 10 cards, all with low balances. Pulled report. 706. Closed immediatley Now I'm getting pre approvals daily for 0 percent until october 2007, at 8.9 fixed. I WILL NOT APPLY!
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Author: fitz75
Posted: Thu Jun 22, 2006 9:02 pm
Post subject:
You ask them why they wanted to up your rate to the universal default?
Personally, I would of paid them off then put them aside just to keep the good tradelines.
Author: Ira
Posted: Fri Jun 23, 2006 3:09 pm
Post subject:
Quote:
Now I'm getting pre approvals daily for 0 percent until october 2007, at 8.9 fixed. I WILL NOT APPLY!
Absolutely right! You tell 'em! They must be scared out of their minds over the fact that you've closed your high interest accounts and won't apply for low interest cards. Forget about the money you're losing; just stick to your principles!
Author: Evilbunny
Posted: Fri Jun 23, 2006 6:50 pm
Post subject:
You do realize that those offers just come from the marketing department, based on a very easy pre-aproval model. They have no knowledge of your previous history. they just spam everyone and their dog who has a cedit score over the thresh-hold.
just because a bank ratejacks you (which Chase is the worst from what i have seen and heard). thats no reason to jeopardize your credit score. Closing your accounts does nothing but hurt you personally. The banks can care less. they just want you to pay them buckets of interest or move your credit somewhere else. Also, If you close your account with Chase. even if there may possibly (not likely) be a lower rate in the future, once it is closed, they WILL NOT lower the interest rate. Thats just something to think about
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Polonius
Posted: Fri Jun 23, 2006 8:30 pm
Post subject: Credit Card Universal Default Charge Tips
Chase says it stopped using universal default pricing in March 2005...
Author: Board Monitor
Posted: Tue Jun 27, 2006 6:13 pm
Post subject: Credit Card Universal Default Charge Tips
Quote:
Chase says it stopped using universal default pricing in March 2005...
Sort of, but not really:
http://www.cardratings.com/creditcardnews/2006/02/chase-changes-their-credit-card-terms.html
_________________
Regards,
Curtis Arnold
Board Monitor
http://www.CardRatings.com
20K+ Credit Card Reviews
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Thu Jun 22, 2006 6:42 pm
Post subject: Chase & Their Universal Default
I had 2 platinums at 9.9 fixed , had accounts for 10 years, never been late. Wanted to change rate to 28.9 due to what they call "Universal Default" I only have 10 cards, all with low balances. Pulled report. 706. Closed immediatley Now I'm getting pre approvals daily for 0 percent until october 2007, at 8.9 fixed. I WILL NOT APPLY!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: fitz75
Posted: Thu Jun 22, 2006 9:02 pm
Post subject:
You ask them why they wanted to up your rate to the universal default?
Personally, I would of paid them off then put them aside just to keep the good tradelines.
Author: Ira
Posted: Fri Jun 23, 2006 3:09 pm
Post subject:
Quote:
Now I'm getting pre approvals daily for 0 percent until october 2007, at 8.9 fixed. I WILL NOT APPLY!
Absolutely right! You tell 'em! They must be scared out of their minds over the fact that you've closed your high interest accounts and won't apply for low interest cards. Forget about the money you're losing; just stick to your principles!
Author: Evilbunny
Posted: Fri Jun 23, 2006 6:50 pm
Post subject:
You do realize that those offers just come from the marketing department, based on a very easy pre-aproval model. They have no knowledge of your previous history. they just spam everyone and their dog who has a cedit score over the thresh-hold.
just because a bank ratejacks you (which Chase is the worst from what i have seen and heard). thats no reason to jeopardize your credit score. Closing your accounts does nothing but hurt you personally. The banks can care less. they just want you to pay them buckets of interest or move your credit somewhere else. Also, If you close your account with Chase. even if there may possibly (not likely) be a lower rate in the future, once it is closed, they WILL NOT lower the interest rate. Thats just something to think about
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Polonius
Posted: Fri Jun 23, 2006 8:30 pm
Post subject: Credit Card Universal Default Charge Tips
Chase says it stopped using universal default pricing in March 2005...
Author: Board Monitor
Posted: Tue Jun 27, 2006 6:13 pm
Post subject: Credit Card Universal Default Charge Tips
Quote:
Chase says it stopped using universal default pricing in March 2005...
Sort of, but not really:
http://www.cardratings.com/creditcardnews/2006/02/chase-changes-their-credit-card-terms.html
_________________
Regards,
Curtis Arnold
Board Monitor
http://www.CardRatings.com
20K+ Credit Card Reviews
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 6:57 PM
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