Credit Card Co has me dumbfounded

Right off came across this, basically buyer beware
http://ag.ca.gov/consumers/general/credit_card_traps.php

The other options are out and out fraud, which I don't think covers my situation.

The protecting seniors and children page is more physical abuse or neglect. Now theres a priority if there ever was one.

 

PayPal

 

As described in the Cardmember Agreement, we reserve the right to change the terms of your account (including the APRs) at any time, for any reason, in addition to APR increases that may occur for failure to comply with the terms of your account.

Taken from Chase Pricing & Terms for their credit cards. So, no, you have no say in any changes at all. You agree to that when you sign up with them... actually, if you translate what that quote says, it gives them the right to change the rules so that your most recent payment puts you in non-compliance, at which point they per their own policies have no choice but to increase APR, and most likely your minimum payments as well.

This is why I don't have credit cards. Because I've seen more humane and forgiving terms and conditions on those contracts written in human blood that required me to sign them at midnight under a dark moon, right after sacrificing a black goat...

Darlene, does this help?
http://credit.about.com/od/consumercreditlaws/tp/credit-business-complaints.htm

 

I do hope you can find some help, Darlene, and Mimsy, I don't use CC either... I never did care for their terms... Managed to get by so far without them..

 

Thank you Mimsy, but no. I've seen it. My initial contract was with Providian, who was taken over by Washington Mutual who was taken over by Chase.
It wasn't bad until Chase got it.
I have never missed a payment or been late. Most of the time I paid early and more then the minimum pymt when possible.
Yet they're treating me like a dead beat, saying it's in part due to my credit report, which I checked and has nothing negative at all.

 

That sucks. Sorry about that. And Chase do seem like one of the worst ones out there. Though, having read this, I can understand why they're panicking... Once they actually start enforcing these new laws, I expect to see a lot of card companies go out of business. Good riddance to them.

 

And it's not like I charged a bunch of things on it, there only the roof, the only time I used it, and it wasn't Chase then.

 

I think the same, Mimsy. I USED to have one, and only used it for mail order, or an emergency.Plus, I never was late either, and paid it in full when the bill came.. Still, they lowered my limit, and raised the int. rate X3 so I told them what they could do with their card.. I didn't want to take a chance on "going over the limit" which was ridiculous.....

I think you are onto something, tho, come April, they won't be able to do what they are now... I do hope Darlene can get some help, and I'll tell ya, I have heard some awful things about Chase..From others who cannot believe what they are doing. Worse, is, they ARE doing it..

Now, if an emergency does happen, I am just SOL.... rolleyes

 

If you haven't already, take a moment and actually read the entire list I linked to, the "bill of rights". It's very, very, nice to see. If nothing else, it will hopefully put darlene and everyone else in her situation back in control over their credit cards again. There's only so much a person can do to stay on top of a credit card balance when the rules change every two weeks...

 

Oh, yes, Mimsy, I have it in my favorites to read later. I know, they have a weird sense of being above everyone else. Yes, I will be reading it...

There are a LOT of people in Darlene's shoes too....

 

Employee of BofA gets fired for helping customers


http://www.huffingtonpost.com/2009/12/07/jackie-ramos-bank-of-amer_n_381940.html

 

While I may not agree with the terms, etc. that many banks have, and my heart goes out to people that are struggling, this woman screwed up and was justifiably terminated.

In misrepresenting customer information I would think she's lucky that she's not being arrested for forging documents in addition to losing her job.

 

Misrepresentation has been going on forever and as long as it benefits the origination/company it's overlooked.
Mortgage companies, Employment agencies, Welfare Dept.
I have encountered all of these during my lifetime which in no uncertain terms told people to out right lie. In order to obtain a loan for a home, obtain employment there are/were no rules.

I found this interesting

Personal finance guru Suze Orman hailed the "debtors' revolt" and said banks should take notice

http://www.huffingtonpost.com/2009/10/19/suze-orman-hails-the-debt_n_325535.html

People have been handed dirty deals from lenders who inflated real estate values then foreclosed leaving millions homeless. This is all still part of it.
The big money regulators are being called out and are mad, so Joe public suffers.
Make that Joe and Jane Public

 

Ah, this ones right up my ally.
Chase, hiked my interest rate to 22%, lowered my available (according to my credit report with Experian) (which is clean by the way) and changed my payment date. Then on the phone told me nothing has been changed from the WaMu account. -sigh

http://www.huffingtonpost.com/2009/10/26/ann-minch-to-chase-bank-a_n_333625.html

 

Bankers apologize for actions that led to crisis

WASHINGTON – Challenged by a skeptical special commission, top Wall Street bankers apologized Wednesday for risky behavior that led to the worst financial crisis since the Great Depression. But they still declared it seemed appropriate at the time.
http://news.yahoo.com/s/ap/20100114/ap_on_bi_ge/us_meltdown_investigation


Well besides their apologies, it's a big relief for me. I received a letter to agree to a lower interest, 6%, I would have never thought it dropping that low, plus lower payments, almost half of my existing payment.

The woman I spoke with was in India. I realize why they use people there. They are polite and articulate, apologetic, nothing at all like the last arrogant twit who was so rude, had to be an American, we're just hateful by nature. LOL
I'm assuming the others will be willing to renegotiate also.

 

Everyone has a bad day, but since you had one bad experience does not mean that every American Credit Card Representative is bad. I have hung up and called right back and had excellent service before.

 

Oh I realize that, my attitude may have turned his on but when you are a representative you aren't allowed moods. I worked with the public a lot and found when they're nasty the kinder you are they are soon apologetic. You just can't be mad at a person sympathetic with you