Comments on: 45 Days to Opt Out of Credit Card Rate Hikes? Not So Fast http://www.creditinfocenter.com/wordpress/2009/08/28/45-days-to-opt-out-of-credit-card-rate-hikes-not-so-fast/ For the Up To Date News Tue, 07 Feb 2012 22:26:40 +0000 hourly 1 http://wordpress.org/?v= By: Angry Consumer http://www.creditinfocenter.com/wordpress/2009/08/28/45-days-to-opt-out-of-credit-card-rate-hikes-not-so-fast/comment-page-1/#comment-3134 Angry Consumer Mon, 02 Nov 2009 22:06:40 +0000 http://www.creditinfocenter.com/wordpress/?p=3524#comment-3134 What about opting out of the rate increase, closing the account and making all payments only to be opted back in again behind your back. Its happening at Chase Bank. You opt out, close the account, never use the card or in my case have not used the card in 12 months. Then 3 months later they send you a revised change in the terms of the "Closed" account. Unless you opt out again and again and again it means nothing. Opting out is only good for 3 months. They apparently can raise your Margin rate at any time on accounts that are closed and have Opt Out letters sent and confirmed. WHAT IS GOING ON!!!! What about opting out of the rate increase, closing the account and making all payments only to be opted back in again behind your back. Its happening at Chase Bank.

You opt out, close the account, never use the card or in my case have not used the card in 12 months. Then 3 months later they send you a revised change in the terms of the “Closed” account. Unless you opt out again and again and again it means nothing. Opting out is only good for 3 months. They apparently can raise your Margin rate at any time on accounts that are closed and have Opt Out letters sent and confirmed. WHAT IS GOING ON!!!!

]]>