Complaint / review text:
I recently saw where Chase had raised the APR on my Chase credit card from 8.49% to 15.24%. I have had this card since 2006 and never been late with a payment. I called customer service to find the reason for the change. They told me they sent a letter in June stating if I cancel the card, I could pay the balance at the original rate. If not, the new rate would be 15.24%. I don't understand how this can be legal if I didn't default on the original card agreement. This action seems criminal to me!