Bankone/Chase Bank Informative - Increased Finance Charges
Recently Bankone/Chase increased my Purchases interest rate to 26.9%. When I inquired as to the reason for the increase they stated it was due to Credit report information. I informed them I have not made any late payments on their account or anyone elses account for that matter. I have not exceeded my credit limit on any cards. My calculated ratio of outstanding debt to potential debt on my credit cards is 43% which I think is satisfactory but Chase says anything over 30% is unsatisfactory. If someone has any info on this let me know. I now have to go through a long complicated process to be reviewed again. This is not worth the hassle to me and I will pay the card off as soon as possible. I also belong to Privacy Guard which is suppose to inform me of any negative activity or inquiries about my credit and they have not done so. After doing research and if I have a valid claim, I have found and plan to use the appropriate agencies to complain to. I would like to share this with others.
If the complaint is against a National Bank or against a Credit Card issued through a National Bank such as:
*Bank of America
*Wells Fargo Bank
the toll free number is 800-613-4300 or direct dial is 713-336-4300 or mail complaints to:
The Office of the Comptroller of the Currency
Customer Assistance Group
1301 McKinney St
Houston, TX, 77010
I hope this will help some of you.
Thank You, Slimm