Chase screwed me on my intro APR

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
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DGenerateKane
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Chase screwed me on my intro APR

Postby DGenerateKane » Fri Jun 08, 2012 12:04 am

Last August I received an offer for the Freedom card and I decided to get it since the bonus was $300 cash back after first purchase. It also had 0% APR for 12 months, which I planned to take advantage of.

Fast forward to today I have an email from mint.com saying my APR went up to 11.99%. Now, correct me if I'm wrong, but this is June right? As in, only 10 months since I got my card. So I emailed Chase and specifically said that the offer I received was for 12 months and got a response back that "upon review" my intro APR expired in June. No explanation. My response back was shall we say less than pleasant.

Looks like I'll be putting the Freedom card away and closing my checking account as I find being lied to infuriating.

P.S. I forgot to mention I would have never known if it weren't for the email from Mint so U would have ended up getting charged that interest which would have been close to $300.


CK8652
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Postby CK8652 » Sun Jun 10, 2012 8:03 pm

DGenerateKane wrote:P.S. I forgot to mention I would have never known if it weren't for the email from Mint so U would have ended up getting charged that interest which would have been close to $300.


What kind of balance were you carrying that 11.99% APR (or 1% per month) would turn out to be $300??? You were revolving 15,000+ on a chase freedom card?

I hate to say it, but that's why I always print out the T&C and promo sheets of every card I apply to. I hate Chase, they're the only CC card to totally screw me in the past. For BT & 0% I really prefer Citi. They've been very, very good to me in the past and always offer great 0% promos.

DavidNY
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Postby DavidNY » Wed Jun 20, 2012 7:05 pm

Yup, Citi is great with BTs. For everything else go somewhere else.

MemberSince99
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Postby MemberSince99 » Thu Jun 21, 2012 3:32 am

Isn't it illegal with the so-called "CARD Act" to change the APR like that anyway without valid reason? Not that the law matters to these banks even though we taxpayers got the pleasure of bailing these masters of "rugged individualism" out, but come on.

I'm glad I don't do business with Chase reading this stuff they are shady as hell.

birdman22
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Postby birdman22 » Wed Jun 27, 2012 1:55 pm

That's why you should always read, and save your Cardmember agreement when you get the card. the intro apr and terms are always pending credit approval, so when you get the cardmember agreement it shows you the specific end date of any promotions you may be under. If the cardmember agreement indicates thr promotion lasts until september, fax a copy in and they would have to honor what they sent you in writing.

432521
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Postby 432521 » Wed Jun 27, 2012 2:40 pm

do you have the letter they sent you when they first sent you your card that stated when you intro apr would end?
March 2011- Wellsfargo Cash Back College Card
May 2012- Chase Freedom
May 2012- Discover IT
August 2012- American Express Blue Cash Everyday

DGenerateKane
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Postby DGenerateKane » Fri Jul 06, 2012 1:47 am

No, I got angry after reading the $500 credit limit (Smaller than the limit on the first card I opened when I had no credit history 8 years ago) and tossed it without reading it in its entirety unfortunately.

birdman22
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Postby birdman22 » Wed Jul 18, 2012 2:44 pm

DGenerateKane wrote:No, I got angry after reading the $500 credit limit (Smaller than the limit on the first card I opened when I had no credit history 8 years ago) and tossed it without reading it in its entirety unfortunately.


Well I can understand you might not be thrilled with the low credit limit lol, but still its always the best idea to both read the terms and conditions of the card before using it, and also saving it for reference if there's ever a discrepancy.



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