Oops! You’re busted Chase.

I have an extremely low-interest credit card with Chase with a balance- I’m talkin’ a rate lower than my government student loans. I’m crazy diligent about paying it in a timely manner (like any bill, always). So Chase is making very little money off me.
They fixed my wagon when they sent me a letter late last year saying they were tacking on a $10 “monthly service fee” to my account- dangerously close to breaching our TOS. But they want my ‘dead weight’ balance gone.
When my husband called them for answers, he had to go up a few chain-of-commands until he found someone who would tell him the truth as to why they would start issuing monthly fees- “We aren’t making enough money off this really responsible account, so we started charging you-and others like you-a monthly service fee”. The next day I had a call in to my Attorney General’s office. It wasn’t returned because I’m just a minion, but that’s an example of how livid I was.
Enter tons of consumer complaints to Chase.
Enter political pressure on Chase.
Enter lawsuits against Chase.
Enter a letter of recant into my mailbox today.
Oh yes. Chase, under aforementioned pressures, will be refunding me-and 400,000 other responsible cardholders-any service fee applied to my account and will desist any further $10 service fee charge. Chase gets to dole out over $4 million now. A firm founded in the late 1700’s is still living and learning. Kinda interesting.


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3 Responses to “Oops! You’re busted Chase.”

  1. Lana Says:

    Oh wow, what kind of political pressure? From the Attorney General?

  2. Lana Says:

    Oh nevermind, I just clicked on the link! http://www.creditcards.com/credit-card-news/ny-attorney-general-claims-chase-fee-victory-1267.php

  3. Rachel Says:

    You got it! The NY Attorney General Andrew Cuomo was super vocal about Chase pulling this stunt. He said:

    “My office will not sit back and allow banks to promise one thing in its solicitations and agreements with consumers, and then when times get tough, change the deal, leaving consumers holding the bag,” Cuomo said.”

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