JP MORGAN CHASE BANK Informative - COMPLAINTS ABOUT CHASE BANK'S 'EXORBITANT CREDIT CARD INTEREST RATES HIKES TO 29.99 & 30.00%
NEW YORK -- I have been reading the complaints on this website about how Chase Bank out of the blue has increased people's interest rates to 30%. This just happened to me in Feb 2006 statement and I am outraged! Like some of you, I have been a long-time faithful customer who has paid their bills on time. Now, I find myself in the position of having my credit ruined knowing won't be able to make these monthly payments which have almost doubled. Even, if I could make such payments, it would be like paying a 30 year mortgage with no end in sight. As far as we're concerned these credit cards are dead, so all we want to do is get rid of this debt & say goodbye to Chase. In fact, what's to stop the bank(s) from raising their interest rates much higher????I shall try again & see if can negotiate something with Chase to get these MONTHLY INTEREST RATES & payments reduced. If not, then see what agencies or lawyers can help me get this monkey off my back. I am having sleepness nights & stay stressed out over this. Is anyone out there looking into filing a Class Action Suit against Chase?? There had got to be simething we a a group can do to show our unity. How can Banks just be allowed to reuin people's lives like this? My husband has been telling me all along that Banks don't care about the "little people", "working middle-class poor" or whatever they call us. They pay us practically nothing on savings accounts but can charge us such high interest rates for them to profit we allow this? Why? Chase is worst than loan sharks. Hope to hear from some of you out there.