Chase Bank - Credit Card Rate, Bank with the Mob instead

Posted by raven2010 on 2012-07-21:

I highly the the government is trying to "Reduces disposable income by the American people reducing their ability to purchase goods and services to provide jobs."

That is counter-intuitive even for the wing nuts we have in politics here.

Posted by trmn8r on 2012-07-21:

Let's look at the details. You used a credit card to "help you through nursing school," your "rate was recently increased to 28%," and you were "charged $25 in your checking account because your credit card balance was reduced" below a certain amount.

If you use any credit card as a loan, it is like dealing with the mob, in my opinion. Reason being, even a rate of 10% is outlandish. I have two Chase credit cards, and since I carry no balance I had to go and look to see what the rates are - 9.99% and 13.24%. I wouldn't pay either of these rates for more than a month or two. I have no idea why your rate is 28%, could it be because of late payments?

~~~ If the government had not *loaned* money to the banks and they failed, you probably would not have this credit line ~~~ Any of our banks failing is not a good thing, nor are "runs" on them. Look at 1929 - is that something that would be good for society?

I have never heard of a credit card balance being linked to fees in a checking account, unless the $25 is an overdraft charge.

Posted by CowboyFan on 2012-07-22:

Rates do not go up "suddenly" on amounts previously borrowed, unless there is a change in the borrower's financial condition, e.g. missed payments. The important thing for the op is to find out what caused the rates to go up and make changes, eithing in her behavior or with the bank and the rate being charged.