I am a former Washington Mutual Visa cardholder (for 3 years, 10 if you
count the years when it was Providian) who was switched to Chase shortly after the meltdown and subsequent buyout. In the short timespan of seven
months (from January to August of this year), they have raised my interest rate TWICE, nearly tripling it!
It WAS 5.9% fixed; in April it nearly doubled to 10.24% variable. Then, this month (August), it shot up another 5%, to 15.24% variable. I'm afraid to open my next bill now! This is NOT just desserts for a loyal cardholder in good standing, having NEVER MISSED A PAYMENT!!
Is this what we have to look forward to in this supposed economic recovery--distressed banks taking it out on good customers who had nothing to do with this financial mess? Where does it end!?