Do you know somebody who has suffered as a direct result of Chase Bank's raising of their monthly minimum payment from 2% to 5% on credit card accounts that had life of the loan, low interest rates agreement already in place? Do you feel your home equity line was unfairly cut off to you overnight? Have you been charged a crazy amount of fees and penalties? I want your story for my book, the Cat Who Ate Chase Bank.
One of Chase Bank's most notorious anti customer campaign involved raising the monthly minimum payment from 2% to 5% on their very low interest, life of the loan credit card agreements. The customers who were hit with this huge increase in their monthly minimum payment were customers that were never late on their payments.
When I found out Chase Bank was offering a 5 year pay down program at the same low interest rate I already had on my Chase Bank credit card that was going to have the monthly minimum payment raised by an additional 150%, I decided to take advantage of the 5 year offer. Click here to learn more about this five year Chase bank program. The link takes yoiu to another article I wrote explaining Chase bank's 5 year pay down program and it also gives you the toll free number and it is FREE INFORMATION. Clearly the five year paydown program is a better deal than instantly paying 150% more per month if you cannot afford such a huge jump in your monthly payment.
Chase Bank lobbied Congress and was able to get the credit card reform bill act manipulated so Chase Bank would not have to notify their own low interest, life of the loan credit card customers that they could change over to the five year pay down program. Most of their own customers do not know about the five year Pro-Active pay down program.If you call Chase Bank customer service and ask about getting a better deal, they will mislead you and tell you there is nothing they can do for you
As a reader recently commented, some of the Indian call centers actually laugh at you as if they are enjoying your suffering. Yes, even with the bailout money and additional monies given to the banks, Chase Bank is still outsourcing jobs to India even as Chase Bank builds a lavish airport hangar for their Lear Jets.
Chase Bank is even "giving away" 5 million dollars to facebook non-profit groups and telling everybody who will listen how great they are for doing it. Sadly, this 5 million dollars is just a drop in the bucket to what Chase Bank has stolen from their one million customers who were never late on their payments yet had to deal with the indignity and dangerous consequences of a 150% raise in their monthly minimum payments.
Lets be clear here, any consumer who has other, higher interest rate credit card debt and is instead forced to pay down their low interest rate Chase Bank debt at a faster pace because of the 5% monthly minimum payment, has basically been stolen from by Chase Bank.
While all credit card companies offered low interest rate, life of the loan credit card agreements to their customers, ONLY CHASE BANK actually reneged on their agreement, changing the terms, and then would not allow their customers to opt out. Only Chase Bank did that.
If you are the victim of the Chase Bank monthly minimum payment increase, you can call in and get your payment reduced back to the 2% monthly minimum rate. There is even a secret Chase Bank five year Pro-Active plan that is a superior option to having your monthly minimum payment go up by an additional 150%.
However, of the possibly one to two million customers who had their monthly minimum payment increased on their low interest rate account, probably 90% or more will never find out about the 5 year program. Some of these people will most likely be the victim of some type of penalty as they fall behind on some of their payments. The resulting hit their credit score will take will then result in higher interest rates on their other accounts.
If we can find just a few of these people and have them tell their story, I will include at least some of them in my book, "The Cat Who Ate Chase Bank". Please help. If you can investigate a bit, please do so. If you know someone who still can benefit by the five year plan, please tell them about it as well.
Don't forget, the Cat Who Ate Chase Bank, the book, coming out in early 2010.