Complaint / review text:
I have had a WaMu, then Chase credit card for many years. My APR with WaMu, before Chase took over, was 9.9. I have since put up with the Chase minimum payment and a 2% interest increase. Mind you, I have never once been late, always paid well over the minimum and use less than 1/3 of my available credit. Today, 07-19-09, I received in the mail another notice from Chase stating my new APR would be, quote "The prime rate plus 14.99%, which would make it currently 18.24%. This change will take place with the October statements". The reason given was only that this was a business decision made by Chase. If I don't accept this change, my only option is to close the account, which I did.
I am tired of supporting banks through government bailouts which result in higher and then their gouging of excellent customers to help them recoup losses from credit card holders who should never have been extended credit in the first place. Those who are responsible are now being asked to foot the bill for the irresponsible. Enough is enough.