Chase Bank - Customer *DIS*Service - CC interest rates SOAR
BREMERTON, WASHINGTON -- Previous to the total "assimilation" of Washington Mutual by Chase bank (they were in the throes of being taken over), I had signed up with WAMU's Online Savings account - they offered a 1% interest rate if you signed up online. Of course, there were no rate "guarantees", but less than two weeks after I signed up, the rate went from 1% down to. 95%, the following month down to. 85%, and this month at. 75%.
After the assimilation, when I signed onto my account yesterday under Chase, lo and behold, the interest rate tanked out at. 01%. Yes, point-zero-one percent!
Thinking there was a mistake during the takeover, I called them. I was on the phone for over an hour. I'd try to talk to one "customer service" person (English is NOT their first language apparently anywhere in Chase, by the way), and they'd tell me I'd have to talk to another department about the interest rate, so they'd "transfer me". I'd get transferred alright, back to the main menu! So, I have to push all the buttons again (press 1 for your personal checking or savings, press 2 for...), plus you have to press in your account number, debit card number, etc. And even after pressing in all those numbers, the customer service reps ask you for it all AGAIN.
After being bounced around and having to call back several times, I finally asked to speak with a supervisor. Long story short, I finally did speak to one after going through more transfers.
She told me that they'd sent out notices about the transfer, which explained that the interest rates would probably change. I agreed that I understood they might change, but they did not disclose that they were planning to pay virtually next to nothing! .01% is basically NOTHING. I asked why they didn't disclose that, she had no answer. I asked why my interest rate wouldn't stay the same, she said it's because of the buy-out of WAMU by Chase, and that Chase only offers. 01% on their savings accounts.
No further discussion, no apology, no sympathy, just a "that's the way it is" attitude. I said that I would not continue to leave my money with a financial institution that RAISES my interest rate (to almost double) and drops my savings interest rate from. 75% to. 01% in one day. That is NOT ACCEPTABLE! She didn't care. None of them care.
The point is, if you are unsatisfied with Chase, as so many, many people here are, it would be wise to find another bank - preferably a local bank - to do business with and to move your money to. Granted, they don't pay as much in interest, but chances are you'll get a lower interest on your credit cards too. Plus, at least a local bank (state bank... if there are any left!) are a better choice.
Chase bank absolutely sucks, and it is appalling that they have taken taxpayer money to buy out other banks and credit cards, then raised he credit card interest rate and lowered the savings interest rate to virtually nothing!
How does that make you feel???
I'm not happy with Chase on SO MANY LEVELS, and will be taking my money and putting in my local (state) bank where they actually know me by my first name when I call and come in.
Go to H**L Chase, you're not wanted here.