Question by Lev: Where to file a complaint about Chase Credit Card?
I recently received notice from Chase Credit card company that they will increase the min. payment from 2% to 5%. I never late on my payments and when it possible I pay more than min. payment.
Before my min payment is 0/month and now 8.
Credit Card Complaints
Best answer:
Answer by CatDad
They are allowed to do this...don't waste your time calling to complain, as you'll just get an outsourced rep in a 3rd world nation who will read from a script in response to any question you have.
If this new increased minimum payment creates an overwhelming burden for you, then you might want to enter into a Debt Management Plan through Consumer Credit Counseling Services (CCCS)
What do you think? Answer below!
Tags: Credit, about, Complaints, Credit Card Complaints, chase, Complaint, Card, file
{ 3 comments… read them below or add one }
its probably all there in the T&Cs (terms and conditions) but there is no harm in contacting them and saying you can’t afford it, these companies have an obligation to take your outgoings into consideration
Not only don’t you have grounds to complain, the government has been pressuring banks to raise minimum payments.
http://moneycentral.msn.com/content/Banking/creditcardsmarts/P117014.asp
Specifically, regulators with the Office of the Comptroller of the Currency began pressuring credit card companies to raise minimum payments. Another incentive for change: The newly enacted Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, which requires credit card companies to post a kind of Surgeon General’s warning on monthly statements that notifies consumers about how long they’ll be in debt if they make minimum payments.
My Chase min payment went from $250 to over $660. I called and told them I would be refinancing and I hoped they went belly up. I got the whole balance refinanced in less than 30 mins.
Chase is driving away good customers. I never missed a payment and usually paid more than minimum. I think the issue was that I had a special rate of less than 4% and I wasn’t profitable enough. I hope they keep all their weaker customers until Chase forces them into bankruptcy. Then let’s see where Chase turns….
They will not get me back. Chase can kiss my …. you know.