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Chuck's Comment on
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Main thread--Misc credit card complaints
State: Texas Posted: 02/02/2009 Subject: Chase Bank Comment: Interest rate more than doubled for no reason on us with a FICO credit score of over 800 by Chase after they bought Washington Mutual. WHAT AN INSULT- Chase "bought" WAMU for pennies on the dollar and received a government giveaway cash infusion- for accepting the bad mortgages of WAMU-- and now they are doubling the rates on credit card balances for people with good credit and applying usurious rates as high as 30% on those with good credit numbers in the 700's. This is to make credit card users pay for the "losses" that Chase assumed from the WAMU takeover-and truth be known-- they will also write off the mortgages . I guess we should be surprised to learn that banks are greedy but as a 60 year old engineer I am SHOCKED that they are so greedy and dismayed that they can get away with it legally. A check with the Texas Attorney Generals office got a milktoast response that "even thought the rates they are charging are above Texas interest caps they are not chartered in Texas so we can't do anything" Surely there is one or more in our Legislature who will address this loophole in Texas consumer protection. I received my monthly statement and noticed the doubled rate- and when I checked the internet I instantly found more than 100,000 responses for Texas and 1,00030 nationwide (as of 9am 2 Feb 08) about this insulting theft by Chase. |
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