My journey with Chase started in 2002 when I received a credit card account with a line of 20000 and a rate of 8%. I originally used the card for day to day expenses to get rewards but in 2004 due to some family circumstances I had to use the card for some unforeseen expenses which brought my balance to 16000. That is when the fun started. First they found some lame excuse that I am at high risk because of the high balance (they gave me the 20000 limit - I did not ask for it), then promptly used a late payment on an AMEX (I missed it while out of the country) and the "universal default" scheme to jack my rate to 29.99%. That for someone at great risk is practically the kiss of death. In any case I did get the message so I made it a point to pay it off and did so in early 2007. I have not had a balance on that account since. Well a few days ago I went to use the card at a gas station and it was declined. Needless to say my shock when I called and was told that my account was closed because apparently I have too much credit... Normally I would have ignored since I really did not want to deal with these bastards anymore. But this was not the end of it. Apparently all my other cards noticed the closure and started lowering up my limits and jacking up the rates they charge me (that much for the .0001 you get when you deposit money at a savings account).
I have always managed credit with discipline and except of one late payment on an AMEX I had no bad mark in my report until these bastards closed my account which yes it had zero balance (even the service rep that I called was shocked)! I really do not need them and if I need a loan I have tons of equity on my house which I should have used instead of giving them the business at 29.99%. I did think that there was some fairness in the system but Chase reminds me that crooks and robbers do not only hang out in dark alleys, they also work at Chase!
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Chase is evil but my story is about fees. I have had several banks in my life, and have been fairly satisfied. I switched to Chase a few years ago because my mortgage was with them. I have come to realize that Chase is the most unethical and corrupt bank out there. They are thieves and preying on people especially in this difficult economy. Last week I was out of town and used my debit card at a cafe at the hotel we were staying at. My account was low but I was getting paid in a couple days and have direct deposit. I had more than enough to cover the two small debits at the cafe. I knew this for sure because the cafe had a computer for customers to use so I checked my balance. There were no other pending transactions other than the two small transactions at the cafe I had put through. When I got home that evening, I checked my online banking again and noticed that there was another transaction pending from later in the day from the toll authority. Apparently my transponder on my car was low on tolls so the toll authority put through an automatic debit without any warning. My account did not have enough in it that day to cover the toll authority debit so I knew I would be charged one fee. The toll authority charge was listed after the two small cafe debits so the toll charge was the last debit of the day and the only one that would have caused an overdraft. I accepted the one fee and had no problem paying it. But after my payroll check was direct deposited, I noticed Chase had charged me 3 overdraft fees for a total of $105.00. I looked again at my online banking account and noticed that Chase had rearranged the order of the debits and put the toll authority debit before the two small cafe debits. This switch in order gave Chase the opportunity to hit me with 3 fees instead of the one. I was furious and I called their customer service department. I told them that I knew they had rearranged the sequence of the debits which maximized their fees against me and they ADMITTED TO IT. They said they can arrange them however they choose without regard for the order the debits actually came through. I could not believe what I was hearing. I asked to speak to her supervisor and was told the same thing, that basically they can do this, it is not illegal and to bad so sad. I am closing my account and moving to another bank next weekend when I get my next paycheck. The new bank I called, which is actually a bank I used a few years ago, asked me what bank I was leaving. I told them Chase and she laughed and said they have tons of exChase customers coming over. Do not use Chase, they are thieves. I am also writing my state government to find out if what Chase is doing is legal and if so why! The greed of this bank is unbelievable.
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