Jump to content

Chase Bank and Interest Rates

Recommended Posts

I have 2 Chase cards and my wife has 2, received during 2006. The offer was no interest for 12 months and transfer other other high interest credit cards with a balance transfer. Interest would go to 8.9% after 12 months. We quickly paid off and closed/canceled other cards in the 18 - 22% range and thought we were set with this consolidation. We both also set a strict payoff schedule that made our monthly payments higher than the minimum payment due. It seemed like the right thing to do and I thought it showed good faith and responsibility. Payments were made on time.

We both have a good CR with only one bad writeoff from 2001. Scores in the 660-680 range. I recently received a letter stating that one of the cards will have a new interest rate of 21.5% for all purchases and transfers starting in October 2007. This seems to be a bad omen for the other 3 cards. We might be worse off than originally before we received these Chase cards. Any thoughts or advice?

Link to comment
Share on other sites

That's a pretty crappy interest rate.My DH and I just received our chase cards. He had a 0% BT for 3 months and then 19% after. I got 0% for 12 months and 14% APR after. I was pretty surprised that I have a better APR since my CR is much worse than his.

I agree, I would call them up to lower it. I wouldn't close the account since theres no annual fee. I would just pay in full or not use it at all.

I know I plan on having my DH call about his APR soon because he's getting credit everywhere else with higher CL and better APR. I have to wait a few more months though. Let us know how it works out for you.

Link to comment
Share on other sites

This topic is now closed to further replies.

  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.