just got a letter from chase that they are going to raise my rate. This is my last card I'm working on paying off and still have about 5k on it. It was a lot lower (like 3%), then they raised it to 24% when I forgot about a payment and was 3 days late, now they are rasing it to prime plus 27%!!! what the heck!

Anyways anyone have any good ideas of how to get a better rate or move somewhere that does.

 

Do what I did... stop paying. In May, I had an 820 credit score and bought a new $30K Mustang at 0% for 72 months. Then Chase took over my Wa Mu card, raised the rate to 24% and closed my card. I called and asked what happened and they said that my Wa Mu card didn't fit their "credit profile". I told them to re-open the account and I would continue to pay double my minimum (as I had been for the last 2 years) on time. They said, "I'm sorry, there's nothing I can do". I said, "I'm sorry, I can't continue to pay" and hung up. Haven't made a single payment on any debt except may car since then. I wasn't a dead-beat borrower. I never had a late payment on anything. They made me. Now they can deal with the consequences of their actions. I'm filing 7 in January and will have my credit back in line within 2 years with my only debt being my car at 0%.

 

http://consumerist.com/2009/12/another-num...er-service.html

 

If you're paying it off and have an idea of a time frame, I'd get another card with a zero-interest intro rate and zero-interest balance transfer. transfer the balance and pay it off, just make sure you pay it off before interest rates are jacked up.

 

cards w/ 0% not as easy to come by as they were 2 years ago

 

you're probably right. My bank (b of a) replaces my card every year or two and gives me 6 months of 0% interest on balance transfers. Maybe your bank is a good place to start.

i've never transferred balances, but they offerred it to me about 2 months ago.

 

I got a personal unsecured loan for my boat at 9% interest. Perhaps you could do the same. It was a Credit Union, and I highly suggest you try one instead of a big bank. Credit Unions rule the banking right now. They didn't have to take any gov't loans. I even got my truck loan at 3.5%. Eat that Chase!

 

^^^ I agree!!

I used to be a part of a credit union when i worked for ABB air preheater. when i started my credit with them back in my early 20's it was nothing to get the loan i wanted at great interest rates. why i am not with one right now i have no explanation for, grrr.

probably another one of them "old school" traits I was trying to keep that isn't panning out.

 

figured out the solution. Move everything to my bank of america card.

It's so easy I'm not sure why I didn't think of it sooner.

1. make purchases for business on BoA card.
2. reimburse myself.
3. pay off chase card.
screw you chase! nana.gif

Now if they act like they have in the past. In about 6 months they'll cut my interest rate in half and send me a blank check every week to "get some money for home improvements". Thats what I fell for this late time. I used the cash to pay off the bank of america and got it on 3% at chase. 6 months later I was 3 days late on a payment and they bumped it up to 24%.....

 

Call them, and request that they lower your rate. Tell them you'll transfer the balance to another card if they aren't able to accommodate your request.

Be nice, they're just a customer service rep. The nicer you are to them, the further you may be able to get.

Also, I live by the rule that if you don't like what they tell you, call back a few hours later. Beware, they might keep notes on their discussions of your account.