Chase Credit Cards - Chase Credit Card Gouging

Posted on Thursday, January 27th, 2011 at 1:21pm CST by 155122ea

Product: Credit Card

Company: Chase Credit Cards

Location: US


Category: Other

HEH said,

in January 27th, 2011 at 2:03 pm

I had a large credit limit with Chase, once upon a time, that has been reduced each time I pay a large amount to the creditor. I pay $500, they reduce the credit line by $1,000. I pay $1,000, they reduce it by $500. Chase increased my APR to 29.99%. Wow. I called to have it reduced. Someone from a call center had it reduced to 27.24%. Hmm. So, I paid the balance down to less than half the credit limit. I called to have the APR reduced. They reduced the credit limit and did not reduce my APR. I have never been late on any payment, ever, with any creditor or bank or anything.

None of my other 3 creditors have done anything like this so I was amazed, disappointed, and very angry.

So, called 212-270-6000. I spoke with someone in Executive Services and explained my situation. They put my on the line with someone from lending and stayed on the line. After 35 min and 49 seconds, they could not do anything for me.

They said that my payment history was good and that the amounts paid were exceeding the minimum. They then said that because of my debt to credit ratio, I could not have my APR reduced. It was a circular conversation, but a pleasant one.

I want to pay off/down my balance and would like to have my APR reduced. In order to reduce my APR, I need to reduce my debt to credit ration. When I pay off my debt, they reduce my available credit.


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