Chase No Longer Increases Rates Based on Credit-Bureau Information

Posted On: March 4, 2008

By Curtis Arnold, Founder of CardRatings.com

Chase is no longer increasing the rates of cardmembers based on their credit-bureau information as of March 1, 2008.
Consumer advocates have long decried the controversial industry practice commonly known as universal default, under which a customer’s rate could be automatically raised based on a single late payment to another [...]