ILLINOIS -- I lived in Champaign, Illinois for 15 years. People in that city consistently complained about service. I think that just adds to the other complaints I've read. Did they ever have any scruples? Chase just raised my minimum payment from $500/month to $800 month. I just started getting electronic statements and was shocked to see that my interest rate had been raised to 23.9 from 5.99%. This in the face of the fact that I had contacted them by phone some time ago and had been assured that my interest rate had NOT been raised.
Honestly, I don't think little people like me have any chance from the robber barons at Chase and Bank One. For your information, their sister bank (father bank?) Chase Manhattan has no working email address. It is supposedly firstname.lastname@example.org but apparently they really don't want anyone to contact them. My email to that address had an error in the address bar. Enough said, I think.
I just received my statements from Bank One First USA Chase and they raised my rate to 29.45% last month. I have perfect credit and have never been late on any payments. I took advantage of their offer on a low promotional rate of 5.9% for 6 months last year to pay off some bills.
At the end of the promotional period they increased my rate to 12% which I felt was fair based on competing credit card issuers. I have been making all payments on time with no derogatory or late payments with Bank One or any reflecting on my credit report. I pay Bank One approximately $1,500 per month on these three accounts. They originally issued me three cards based on my perfect credit history with $30,000, $20,000, and $10,000 limits which I used based on their offer to pay off bills utilizing their competitive interest rates with the understanding if I made payments on time I would be charged a reasonable interest rate.
I contacted Bank One on the telephone and wrote them a letter about this issue and requested the terms and conditions which allows them to raise the rate to a ridiculously high A.P.R. which I understand to be a default rate. 29.45% is extremely high for someone that pays all of their bills on time. It has been over 30 days and I haven't received anything in the mail. Again I contacted Bank One by telephone and asked why such an extreme increase without notice. They said based on a review of my credit report I was carrying exceptionally high balances and instructed me to contact Equifax and Esperian.
I contacted the credit reporting agencies which sent me a copy of my report and I became aware the high balances they mentioned were the balances I carry with Bank One. They issued the credit and are now using the credit they approved which is reflected on my credit credit report as a reason to now charge me 29.45%. This seems illegal and I feel they are taking advantage of consumers. I don't mind paying a fair rate for unsecured credit but 29.45% seems unfair especially since I have never been late on any payments.
In fact, this is ridiculous. If I had known they could charge this high of an interest rate I would have never utilized their lending services in the first place. It seems since Chase purchased Bank One and the merger is finalized, they are instigating unfair practices. They should at least give notice they were going to raise the interest rate and to more than double the interest rate in a single rate hike should be against the law.
I asked them to lower the rate from 29.45% to something fair until I can work out other arrangements to pay them off in full which will take me approximately 90 days. Again they refuse to do anything and now they have telemarketers calling my home throughout the day wanting me to sign up for accident and disability insurance. Also, at the same time, I am receiving new offers from them as well for additional credit cards with low interest rate balance transfer offers. I am furious!
WILMINGTON, DELAWARE -- For many years, we had a Bank One credit card and a Wachovia credit card with a combined credit limit of over $20,000 and with a combined balance (at that time) of about $8,000. This was a relatively high balance for us, as we had just purchased a home and had used the cards for home improvements. In May of 2003, Bank One took over the Wachovia credit card and issued us another Bank One card. We had never missed a payment nor had we been late on any payment to them or to any other creditor. Our credit report is pristine.
Upon the arrival of the statements in June, we were shocked to find that Bank One had arbitrarily, and without notice, raised the interest rate on one card from 6.25% to 22.99% and on the other from 9.9% to 24.99%. After spending hours on the phone with incompetent and rude operators and supervisors, the only excuse they could give us was that we had too much AVAILABLE credit, much of that with them; and they would not negotiate. They would do nothing! Luckily, we were able to transfer most of their balances to other credit cards and pay off the remainder, but not before Bank One charged us hundreds of dollars in interest charges.
Having read other complaints, others have not been as fortunate with their association with this corrupt institution. I am sure that many who have been subjected to this unethical machination have been left financially destitute and trapped into paying what constitutes usury.
However, I may add that what Bank One did to us and is doing to others, albeit devious and unscrupulous, is not illegal. UNDER NO CONDITIONS SHOULD ANYONE DO ANY BUSINESS WITH THIS BANK OR ANY OF ITS AFFILIATES; AND IF YOU ARE, YOU HAD BETTER PROMPTLY CONSIDER OTHER OPTIONS.
48025, MICHIGAN -- I have Had 2 accounts with BankOne, a Visa and A MasterCard, both for about 9 years. I have never been late for a payment and I have always made larger payments than needed. BankOne kept increasing my limits upward to over $30,000 on each card because of my good credit. I paid off my visa and told them I wanted to close the account. They did not want me to close it so I told them to decrease my balance to $1,000 and I would keep it opened. I continued to carry a balance and use my MasterCard.. then the problems started when bankone merged with Chase.
They sent me a letter and closed my visa card which was OK with me I wasn't using it... but then in December without my knowledge, they increased my interest rate to 29.49% from 8.9%.. I didn't even realize this until yesterday when I was looking over my statement. I immediately called them to see if this was a mistake.. I was told that sometime in the last 48 months my credit report showed that I made a late payment and so they raised my rate to 29.49%.
I asked her to review my account for the last 9 years.. did I ever have a late payment posted on my account, she stated "NEVER".. so you increased my rate because I may have been late with a payment to someone else.. she said that was correct.. well I have never made a late payment to anyone and am investigating that but I immediately closed the Bank One card and am paying the balance off.
Please DO NOT open or Continue to support a company that treats the consumer in this way. We have power by numbers. They will never get another cent from me if I can help it. I hope I can bring some of you over and NOT Support BankOne Or Chase Manhattan until they can treat a customer right.
ILLINOIS -- If you come in contact with this bank at any time for any reason, RUN THE OTHER WAY. Their "free checking" is anything but that. They charge you fees for every little thing, from balance inquiries to making more than a certain amount of withdrawals. Also, they have shady business practices that REALLY call into question their ethics. They recently held a cashiers check I deposited into my account AT a TELLER for SEVEN DAYS with no explanation other than it was "their policy" to do so. Oh yeah? Well I deposited a PERSONAL check through an ATM the week before, and that cleared in two business days! No other bank I know of has a "policy" like this.
And on top of that, they had the nerve to try to charge ME $150 in overdraft fees when the absence of the deposit in my account that THEY were holding caused me to temporarily (one day) go negative by a couple of dollars. Yes, you read that right. _$150_ Where's that "free checking" now, eh?
This is just a sample of the ongoing problems I have had with Bank One over the years. I have tried to give them the benefit of the doubt, having been with them for a while, but they have gotten increasingly worse at an astounding rate. I fully expect them to face litigation some time soon. Moral of the story: find another bank to trust your money to. Bank One will just take it.
Bank One lived down to their expectations. After having a Citibank credit card for years, Bank One bought the rights to the Sony card, and cardholders could NOT back out to stay with Citibank. Is this legal? We were forced to switch to Bank One, which sent me a notice that they were going to double my interest rate, almost, from 11.5% to 19.99!!! Fortunately, I caught the disclosure and wrote to them that I reject the terms, so I can pay off and close my account.
How is what they are doing legal!?!? I did a search for class action lawsuits, and came up blank. Anyone have any ideas?
NYC, NEW YORK -- Bank One which has sold their credit card services to Chase has been raising their rates consistently with NO reason except to garner $ from individuals who have paid and paid over the years. Chase now continues this legalized theft from consumers. Where in hell is our congressmen. The banks have been getting away with murder and using the money we cough up to our federal government. America wake up oil companies, banks, health care -it is out of control and our elected officials do NOTHING.
Banks are as guilty of theft just as someone picking your pocket. Its time to act and ensure a governing body that would protect the consumer. We indeed need change from the top down. The very backbone of this country is being attacked by spineless, gutless politicians and corporate executives.
I received a call from Bank One offering to sell some type of insurance. I declined but the caller persisted but I kept saying no. When I got my bill, I was being charged for it. I called and they said they would credit the account. The next month I got another bill, with another charge, and a late fee for not paying the previous month. This went on for 4 months. Each month late fees stacking up, and each month calling to cancel this unwanted insurance. Finally it stopped after much confusion by their employees, and I closed my account, never to do business with Bank One again!
MICHIGAN -- I have a small savings account at Bank One that I primarily used for overdraft protection. Bank One seems to have this policy in which they classify accounts that have not had deposits/withdrawals within a certain period of time as DORMANT, in which after they are classified as DORMANT - they basically seize your money. I have called Bank One and sent them emails to remove the dormant status of this account - but have been unsuccessful as they state that I am required to visit them in person or write them a letter (I thought that was what I was doing when I sent them an email from my via my online account...).
What is really ridiculous about this is that I have several other accounts at Bank One and this one in particular is linked to my checking account - which is very active. I feel that Bank One's policy on this issue is basically an attempt on their part to steal our money. Has anyone else had this very unpleasant experience with Bank One. I am so angry about this that I am now researching other banks and will never use them (or Chase) again.