I can tell by the votes on my poll, comments, and contacts, that many people visiting the ChangeInTerms.com site have arrived here because they have been searching for information about credit card companies and their abusive treatment of customers in general, and as of late, Chase Card Services (which is being discussed regularly here on this site), in particular.
I search for information too, and I was astonished to learn that JPMorgan Chase Card Services was the recipient of a “2008 CRM Service Award — Elite” designation (the acronym stands for customer relationship management, and is associated with CRM Magazine). Now that really is Priceless!
I would hope that the 2009 award is given after a diligent review and judging process (unless CRM does not really care about its own brand image, or credibility).
They might start with my “Rant-roll” posts, such as Boycott Chase, Class Action Suit, Credit Card Trauma, Horror Stories, P***ing off Even Their Very Strongest Customers, Rude to Me, and Shameful and Counterproductive. From there, it may be useful for judges to review this post: “If you’re not happy, then I’ll close your account for you right now.” Of course, if the judges aren’t into reading, they can see it on YouTube. Here’s a good one to start with (in two parts): Chase Credit Card Ripoff Scam (part 1); Chase Credit Card Ripoff Scam (part 2).
Loading ...
on Jan 8th, 2009 at 5:03 pm
I love your website. I started looking for compatriots when I got my January Chase credit care statement and found my payment had gone from $416 in December, 2008 to $1,025 in January, 2009 on the 3.99% “fixed until balance is paid off” loan I took out three years ago and an additional $10/month transaction fee had been added.
Same deal everyone is complaining about – I have been a Chase customer for decades, never missed a payment, never made a late payment. I never saw the change-in-terms notice they claim was an insert in my December statement so I asked them to send me a copy.
I have been filing complaints online; with the PA Attorney General (who says they don’t handle national bank complaints; the OCC; the Senate Banking Committee; and have calls in to my Senator’s office – Bob Casey of PA who is on the Banking Committee and have left voice messages for three supervisors at Chase who “will call me back”. I corresponded with a law firm in CA that is currently litigating against Chase on other of their actions but doesn’t seem to think there is much we can do about this legally.
However, Chase has to be vulnerable to what seems like a PR nightmare for them if we can get the word out about their egregious actions taken against their best customers – while at the same time collecting 25 billion of bail-out dollars. On the one hand writing off or writing down consumer debt for those that have defaulted and/or renegotiating terms to lower interest rates and lengthening terms for repayment to enable their worst customers to get out from under the debt load and on the other hand sticking a knife in the back of their best customers who have not been irresponsible in any way.
I am willing to help with your campaign to draw attention to Chase’s deliberate attempt to harm consumers during the worst economic downturn in memory.
Thanks for creating this site – may millions be drawn to it and together we can force Chase to do the honorable thing and hold up their side of the agreements they made with all of us who entered into a loan relationship with them in good faith.
on Jan 8th, 2009 at 6:15 pm
Thanks for your feedback, Peggy. The interesting thing is that Chase and the other big banks seem to constantly hide behind what they can get away with under the law. One day, and I hope to help that day come sooner rather than later, I think these banks are going to learn the hard way that the law doesn’t really matter in a marketing context. They are doing wrong by people, a lot of people. Frankly, revolting is how we got here as a nation (“Boston Tea Party”). However, if I might use another approach in my reply (I am trying to incite a peaceful protest, not a riot), under the “laws of marketing,” karma rules.
I think that this could potentially become a very bad thing for Chase, PR-wise (as you seem to think as well), and I am interested in every kind of viral marketing that there is. I’m presently working on more artwork for t-shirts, bumper stickers, and the like, but it struck me the other day that I could also assemble assortments in eBooks, and those could spread.
I was just in some behind-the-scenes discussions today, and some of the things that I’d like to say about Chase would be problematic, if applied to merchandise (like t-shirts, etc.) that was for sale. (I’m not here to make money — I am really genuinely peeved — but wouldn’t it be fun to spend the $800/week that I’d like to invest in PRWeb news releases?)
Meanwhile, what I concluded thus far (to my glee) is this: Ain’t the “law” a double-edged sword: we can parody and criticize all we want in an editorial context, as we have the right to our opinions (and that’s good news for the site, and any other consumers who want to protest). To that I would add, I think our opinions, are right!
Oh, and I do appreciate the kind offer to help. If we all work together in little ways, I know that our collective voices should be as loud as a sonic boom, rattling the windows of the credit card companies’ offices. Take care.
on Jan 8th, 2009 at 11:40 pm
One other thing, Peggy, because I think there is significance to this fine point in connection with the promise that was made to account holders (banks “love fine print,” so it is really extremely gratifying to see Chase make such an obvious mistake): you referred to “an additional $10/month transaction fee”. However, the document that I received clearly said, “finance charge.”
Regardless of how small that additional finance charge may be, it provides proof positive that Chase Card Services told account holders a lie! Chase raised everyone’s rate, even though it promise and promoted all of these low, “life of the balance,” fixed rate” accounts (to lure unsuspecting victims into its web of deception).
“Fixed means Fixed!”
on Jan 9th, 2009 at 12:08 am
One other, “other thing,” Peggy: Chase Card Services, in my opinion, has already proven that it has no honor. I think we should focus on ferreting out the apparently small percentage of people in the credit card industry, and government, who have the capacity to engage others with a modicum of directionality in terms of a moral compass, and do all that we can to advocate for a return of honor and decency in our lives in general.
When we talk about “bail out” woes, and many of the other problems that we have today, it boils down to very simple things: right versus wrong, good versus evil, stealing versus taking one’s fair share, Chase versus honor and decency. Those who have no honor and decency, those who are evil, and those who choose to lead a life of wrong-doing, they are the enemy, and their souls may perish, in the end. (I am careful to point out that I do not have the omnipotent insight to judge eternal fate, but I would have grave misgivings meeting my maker if I had been a minion of Chase Card Services at any time during the course of my journey in this world.)
on Jan 9th, 2009 at 1:15 pm
Dr. Lahm – Thank you for your responses.
You are absolutely right about the new $10.00 monthly charge. I had failed to notice the SERVICE CHARGE *FINANCE CHARGE* line on the TRANSACTIONS section of my statement. I was looking at the placement of the $10.00 in the Finance Charge Section – it shows up in the column labeled “Transaction Fee”.
I also notice that below that further down the page in bold letters is the following:
Effective Annual Percentage Rate (APR): 4.64%
How can Chase claim (lie, pretend, distort truth, etc) to be holding the 3.99% fixed rate while instituting an additional finance charge that effectively raises the rate to 4.64%? I assume that as my balance goes down, that percentage will increase because the $10/monthly fee is fixed and the balance owed is declining each month.
I talked to the “phone answerer” at the Senate Banking Committee office yesterday for quite some time. He claimed he will let the staff know what is going on – he was unaware of this and agreed with me that it seemed a boneheaded move on Chase’s part after having just been given 25 billion dollars in TARP funds. I also filled out an on-line complaint form and submitted it to the committee.
I spoke with both the Wash, DC and Harrisburg offices of Senate Banking Committee member, Bob Casey (D) at length today. In both cases, all I got was sympathy. In the second case, talking with Alex Baloga in Harrisburg, I was told that new regulations will go into effect in a year or two to correct problems brought on by the current administration. (I stopped him right there by saying there is plenty of blame to go around on both sides of the aisle…don’t try to tell me this is all the current administration’s fault. What about the refusal of the Democrats to acknowledge problems of the sub-prime mortgage market which started the economic melt-down? Then, Alex said, “I’m not going to discuss that issue with you.” HaHa…I guess you’d rather not – Why am I not surprised?) Both offices were entirely unhelpful…”Thanks for the information, I’ll let the Senator know, blah, blah, blah,….nothing illegal….sorry for your trouble….blah, blah, blah……..file a complaint here or there….there’s just nothing we can do right now cause it is not against the law….”.
When I brought up the fact that the Senate doesn’t mind embarrassing big business when it suits their purpose – even when big business is “not doing anything that is against the law”. For instance, the auto executives were raked over the coals for flying their private jets to Washington, DC for their bailout hearing – which as far as I can tell, executive choice of travel mode is not against the law (yet). The Senate excoriated, publicly humiliated and embarrassed the execs in the hearing and ultimately in the court of public opinion – so much so that the auto execs drove to the next hearing. Personally, I think the auto execs were treated unfairly in this instance – especially after learning that Hypocrit-in-Chief Nancy Pelosi flies around all the time in her private jet provided by the taxpayers. But, point being, our elected officials could make Chase do the right thing IF THEY CHOSE TO DO SO, i.e., return to honoring the terms of their original agreements with card-holders and/or provide an opt-out options to close the accounts and pay off the balance under the original terms.
You can’t tell me that if the Senate decided to put some heat on Chase for their egregious actions in this latest greed-grab that Chase wouldn’t quickly decide they couldn’t afford the negative PR. I asked why the Senate is so concerned with bailing out irresponsible consumers and businesses and has no concern about those of us who have consistently met all our obligations but are now being squeezed and/or blackmailed by Chase? No answer to that one.
I don’t want to be a considered a victim. I’m not asking for anything other than to be allowed to continue to meet my obligations under the terms that I took them on. My husband and I have three small businesses and employ seven people besides ourselves. The loan from Chase card services was to finance business projects – not for entertainment, travel, and “movie & dinner out”.
I don’t agree with Obama that government is going to spend our way out of this economic mess…but supposing the new administration really believes that and moves forward with all the spending Obama is proposing, how does Chase’s money-grab from millions of “main street consumers and small businesses” via deceptive, dishonorable tactics help get the economy back on track?
We do have to make this viral….I encourage fellow ill-treated Chase customers to post, blog, and spread the word as far and wide as possible. If Chase won’t do the right thing because it is the right thing to do, perhaps we can embarrass them into it. I can’t wait to be in a position to close out my accounts and never put another penny of my hard-earned money into Chase coffers. They are history with me as soon as I can pay off the balance.