Chase Bank Expands into Extortion and Loansharking

why do ppl spend more than wat they can afford?????

CHASE and all big banks are scum. The middle class with good credit are being screwed.

i fired chase cancelled my card told bank of america to stick it and opend account at my local community bank i am sick amd tired of big banks changing the game plan just when they want it.. they are currently borrowing this money at o-1/4od a % from the feds and then jacking your rates cause they failed to be financially responsible so pass it on to the middle class just my two cents..

I work as a credit counselor..

O so you work for the credit card companies, makes sense.

No I own my own firm..I actualy help people with debt.. The people who work for the CC companys are not credit counselors.. they lookout for the companys bottom line. I tell people to get their money away from them and get a structured secure loan so they know how long it take to pay off and payments that do not change and with the secuity on the loan the APR does not get jacked when a payment is missed..

That's good i guess. That was the alluring part of this credit card, it was essentially a loan, they guaranteed no rate increase. They stated the minimum payments. They never missed a payment, so what they are doing is pretty crazy.

" we reserve the right to change this contact for any reason" that is the clause CC user to change rates and payments... I would suggest for your parents to try to move the debit or split their payments into weekly or bi weekly payments... it can lower the ammount of intrest when paying a loan and it helps credit scoreing. it they have a debit card with rewards that give cash back us thoes rewards to pay extra the other loan.. that can help.

They actually settled it all within a few weeks. They called the credit card companies and came up with a payment schedule themselves. They were able to keep both the rate and minimum by contacting their economic hardship department. So, it did all work out. However, I think that the information should be out there to see.