Thrill of the "Chase"ShareThis
by Ron Daly
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- They’ve raised the base rate to 21% on a card I’ve never used for anything else
- Lowered the credit limit to just above the balance in hopes that I might exceed it
- Changed the due dates twice. Fortunately, I always open bills before filing and write the due date on the outside (sorry, old accountant habits never die)
- Now they have increased the minimum monthly payment from $85 to $420 in one billing cycle (that’s 494% increase)
- Consumers, as the movie line goes, “are mad as hell and not going to take it any more”
- Consumers stop using them and shift towards credit unions that have decent rates and fair credit card practices (as mentioned by Suze Orman up top of this post)
- Credit union loan officers steal every single loan and credit card balance they see on credit reports away from Chase and help members
- The credit union industry seizes the opportunity to go on the offensive to drive policies with lawmakers that capture and hold market share
Gotta run, my email alert to pay Chase just came in from my credit union’s online banking system.