Beware of Chase Credit Card Offer?
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Beware of Chase Credit Card Offer?
Posted: Wed Aug 09, 2006 12:20 am
Quote:
"AJ"
Did anyone read the article in the July or August issue of consumer reports? They are telling people to beware of accepting preapproval mailings from chase unless you read the fine print. They are offering fixed rates until next year, but they are not guaranteed , nor is your preapproval , especiallly if chase feels that you have too many balances or too many accounts. Your rate could go from a 8.9 fixed to a 31.5 variable just like that. So people, please read the fine print
Increasing a BT rate before it expires is OUT OF LINE when you are not late or over-limit
8.9% IS NOT A GOOD BT RATE
SOUNDS LIKE A PURCHASES RATE
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: jlrdc909
Credit Expert (100+ Posts)
Posted: Wed Aug 09, 2006 6:27 am
This article surprises you ?
Chase is known for this sort of game, even though I have them, they have given me a high credit limit, but a high APR to go along with it.
I laugh when I receive their mailings regarding balance transfers, they state "You could save hundreds with our balance transfer rate, HAAAAA they are the highest APR card I have.
With them being so large with Home lending and auto loans, looks like we will have to deal with them.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Board Monitor
Board Monitor/ Administrator
Posted: Wed Aug 09, 2006 9:12 am
Quote:
I have four Chase cards and all are utilized at over 85% with short term fixed low rate cash advances. I am also carry high balances on seven other credit cards (my card debt exceeds $120,000). I have never missed a payment since my first card back in 1978. Chase nor any of my other creditors has ever ratejacked me.
I've had similiar experiences. Never any problems over the years with Chase and rate jacking. Though we do hear complaints.
By the way, I am proud to say that http://www.CardRatings.com is referenced in the article.
_________________
Regards,
Curtis Arnold
Board Monitor
http://www.CardRatings.com
20K+ Credit Card Reviews
Sign up for our free monthly e-mail newsletter!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: wierdo
Posted: Wed Aug 09, 2006 11:07 am
Eh, they ratejacked me and won't back off. Strangely, they offer me an 8.99 fixed BT, despite my near 30% purchase APR.
Funny enough, not two days after I finally got them to lower my interest (by 2% to somewhere around 28%!), I got an offer in the mail with 0% BTs until 12/1/07 and an 8.99% fixed rate on purchases and BTs after the intro period. Even funnier, they approved my app.
Not so funny is that when I was talking to them and asking why the website wouldn't let me do BTs (apparently you have to have the card for 6 months before it'll work?!) someone mentioned my BT rate was 8.99%. I spoke with the rate people who told me that no, it was indeed 0%, until 11/1/07, despite the cardmember agreement specifically stating 12/1/07.
We'll see whether or not they fix it when I fax them the page with that date. Funny way to get a month of interest, though!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: Beware of Chase Credit Card Offer?
Posted: Wed Aug 09, 2006 12:20 am
Quote:
"AJ"
Did anyone read the article in the July or August issue of consumer reports? They are telling people to beware of accepting preapproval mailings from chase unless you read the fine print. They are offering fixed rates until next year, but they are not guaranteed , nor is your preapproval , especiallly if chase feels that you have too many balances or too many accounts. Your rate could go from a 8.9 fixed to a 31.5 variable just like that. So people, please read the fine print
Increasing a BT rate before it expires is OUT OF LINE when you are not late or over-limit
8.9% IS NOT A GOOD BT RATE
SOUNDS LIKE A PURCHASES RATE
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: jlrdc909
Credit Expert (100+ Posts)
Posted: Wed Aug 09, 2006 6:27 am
This article surprises you ?
Chase is known for this sort of game, even though I have them, they have given me a high credit limit, but a high APR to go along with it.
I laugh when I receive their mailings regarding balance transfers, they state "You could save hundreds with our balance transfer rate, HAAAAA they are the highest APR card I have.
With them being so large with Home lending and auto loans, looks like we will have to deal with them.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Board Monitor
Board Monitor/ Administrator
Posted: Wed Aug 09, 2006 9:12 am
Quote:
I have four Chase cards and all are utilized at over 85% with short term fixed low rate cash advances. I am also carry high balances on seven other credit cards (my card debt exceeds $120,000). I have never missed a payment since my first card back in 1978. Chase nor any of my other creditors has ever ratejacked me.
I've had similiar experiences. Never any problems over the years with Chase and rate jacking. Though we do hear complaints.
By the way, I am proud to say that http://www.CardRatings.com is referenced in the article.
_________________
Regards,
Curtis Arnold
Board Monitor
http://www.CardRatings.com
20K+ Credit Card Reviews
Sign up for our free monthly e-mail newsletter!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: wierdo
Posted: Wed Aug 09, 2006 11:07 am
Eh, they ratejacked me and won't back off. Strangely, they offer me an 8.99 fixed BT, despite my near 30% purchase APR.
Funny enough, not two days after I finally got them to lower my interest (by 2% to somewhere around 28%!), I got an offer in the mail with 0% BTs until 12/1/07 and an 8.99% fixed rate on purchases and BTs after the intro period. Even funnier, they approved my app.
Not so funny is that when I was talking to them and asking why the website wouldn't let me do BTs (apparently you have to have the card for 6 months before it'll work?!) someone mentioned my BT rate was 8.99%. I spoke with the rate people who told me that no, it was indeed 0%, until 11/1/07, despite the cardmember agreement specifically stating 12/1/07.
We'll see whether or not they fix it when I fax them the page with that date. Funny way to get a month of interest, though!
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 8:59 PM
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