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Ken's Comment on
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Main thread--Chase Credit Cards
State: PA Posted: 01/31/2009 Subject: Chase Extortion on the American People Comment: I have sent this letter to the Senators in my State and in Delaware where Chase is incorporated. Feel free to use excerpts in my letter to send your own. Here it is: Dear Senator: I am writing to you to let you know of a fraud that is being perpetrated by Chase Credit Card Services on the hard working American people. A few years ago I was bombarded with low balance transfer offers from Chase Credit Card Services. I threw many away, however, the rates got so good that I called for information. I asked if this 3.99% for life is guaranteed for the life of the loan. They said, yes…as long as you pay on time every month. I asked….Even if I live 100 years….it will stay at 3.99 %?. They said yes, it is for life. So I decided to take them up on the offer and have been paying on time for years now. All of a sudden we are in the midst of the worst recession/depression since 1929. Chase and other banks have mismanaged their accounts due to greed and incompetence. We have bailed out these banks including Chase and others with billions of our hard earned tax dollars, and now they have the nerve to slap us hard working paying Americans in the face. They have now decided to levy a $10 a month fee to my low balance transfer loan account ending in xxxx and double my payment from 2% to 5% of the entire balance. They are well aware that many of us can not just come up with thousands of dollars to pay this off, so they are sure to extort monies from us. My payment on one account is going from $226 that I paid in Jan 09 to $557 that is due now in Feb 09. Their answer to my inquiry and complaint is the economy is bad and my low interest rate loan that was promised for life is no longer cost effective for them. Therefore, they need to charge me $10 month and make me pay more than double every month. They say they are helping me pay down my debt. Well…..Chase….I was doing quite well without your extortionist help. I have paid on time for years without a late payment and will continue to do so with the payments at 2% of the balance. I feel that this is an extortion of my monies and a breach of the agreement we have had over the years. I have a wife and 3 kids to support and that extra money that I have to pay Chase will come out of their quality of life in this worst recession/depression since 1929. Why is it always that the paying customers take the brunt of the ills of Corporations who have been mismanaged and run by greed? I hope that you can help not only me, but the many Americans in the same boat with Chase and its unscrupulous tactics to extort monies from hard working Americans. I have joined a class action suit that I found online at : http://www.gslawny.com/lawyer-attorney-1383679.html This class action is in the early stages and most likely will drag on for years. We the American Family need relief and help now! Most of us are dedicated to the American way and paying our bills on time. We value our credit ratings and will find financial hardships in paying these unlawful fees until justice prevails. Please help me and the other American families by calling for an investigation of these uncalled for practices by Chase that have been perpetrated against the American People. Respectfully, Ken XXXXX |
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