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WSJ – The Great Credit-Card Squeeze

The Wall Street Journal published a story on February 6, 2009 about what credit card companies are doing in general with a blurb or two about Chase’s egregious actions toward their best customers. The WSJ reporter accepted Chase’s canned response at face value.

I have posted on the comment thread that Chase is lying when they say, and I quote: “Customers who’ve been notified of increased interest rates have up to 45 days to close their accounts and pay off their balance at the original rate.”

I’d expect more from a WSJ reporter. So far there has been no update to this story. But perhaps if more people comment, the WSJ will take notice.