Chase Bank, NA --Predatory Interest Rates

973 of 1142 Chase Bank reviews

Has anyone else seen the latest trend out there?

Chase Bank, just to name one, is charging customers in the upwards of 29%!!!

The local LOAN SHARK charges only 25%!!!!

They are "burning their bridges". I remember when they needed people to bank with them. They would make a modest interest on the services they offered and they would go out of their way to offer excellent customer service.

Nowadays, they do NOT care! They are offering predatory terms and exuberant interest rates.

We can all feel the pinch of the economic downturn, but big banks can get away with a bail-out or two if they are in difficulty. The government is allowing them to earn in the upwards of 29%. This is downright wrong!

No one is watching out for the hard working (or unemployed) individual that is tightening the belt during these difficult times. Where do you stand on this issue? Are you going to do nothing about it?

When are we all going to say to the banks that we will NOT accept to work for them? We need to remind them that they need us to keep in business. Earning predatory interest rates is WRONG.

Let me tell you something, if we all decided to cancel our account with them, refuse to do business with anyone affiliated with them, or stop using them for one month only, we would certainly send them a message.

I just did!

Starting today and up to November 30th, 2009 I will make sure that anyone I deal with and anyone that banks with CHASE, will not receive a penny from me!!!

Will you join me? Will you do the same?

Your bank may not be Chase, but if we all stand together against this injustice, we may regain the recognition that we deserve. Telling them, they need us, not the other way around. Send this web page on to your friends and have them send it to their friends.

Sign my guestbook, link to my page, or create your own web page at Webspawner.com

This review is a subjective opinion of a user.
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More Review Details

Monetary loss:
$29
Product or service
Exuberant Interest Rates Charged
Review category
Banks
review #160082
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D Jack

Nov 23, 2009 #89446

We have had a Chase credit card for just a few years now. Mostly we put our tuition for graduate school on the card. Things have been tight, but we always made a fairly high monthly payment. When things started getting better, we paid our monthly bill, then an extra payment so that we could pay it off early. It takes one sick and twisted company to turn this into a situation where they jack up your interest rate to 29.9% because they decide to post your payment on dates that end up showing a default. Now we are going to take our entire savings and Christmas bonus money to pay off our debt to Chase and shred our cards tonight. This has been a difficult choice because it means we will be unable to buy Christmas gifts for our family or son this year.

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Top Secret

Nov 20, 2009 #88704

I cancelled my fixed interest rate card with an APR of 5.99% when I was notified that it was going to 23% variable rate. Their explanation was that many people aren't paying their payments, go figure? I moved my accounts to a local credit union, have a fixed rate card there and told Chase to stick it their ***. :p

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