Where do I start? How about with a big fat finger thrown in the direction of JP Morgan CHASE BANK.
What happened you ask? Well, for starters, they send me (a loyal customer of seven years) a letter regarding my Chase MasterCard letting me know they're decreasing my credit limit. Why? Apparently it's the "in thing" to do these days. Oh, and they'll be increasing my APR to 24% even though I've never made a late payment and have always paid the amount requested on my bill.
What a way to reward your customers who actually do pay their bills on time. Makes total sense doesn't it?
The best part about this entire situation is that yesterday I decided to log on to my account to take a gander at my checking and savings as well as my credit card statement (I have been a victim of identity theft in the past- thanks ex boyfriend who is probably in jail somewhere- and I like to pay close attention to my credit cards to make sure there isn't any activity going on that I'm not aware of). So as I'm trying to log on yesterday, I notice that both my checking and savings information is available, but my credit card information is not.
I try a few hours later and get a message that the system is down. Which is why I decided to log on today in the hopes that it would be up and running.
Being that the system was finally up today, I decide to take a gander at my credit card statement. Yup, paid my bill two weeks ago... looking good. No strange activity alerting me that something might be going on...good. Wait, what's this? Over the limit fee of $39? For what? I just paid my bill, and I know there's no way I'm over the limit.
OH WAIT. Yes, yes I am over the limit. MY DECREASED LIMIT. My decreased limit, and my increased balance due to a billion dollars in finance charges because my flippin' APR JUST WENT SKY HIGH. Amazing. I love how all of this works in the bank's favor. Yesterday, no service so I can't see what's happening. Went from from being in good standing yesterday with a credit line, to this: Over my credit limit and being ass raped by finance charges (which is EXACTLY what put me over the limit). And here's a nice how do you do for being over the limit: another $39 dollars we'll add to your already over the limit credit limit, it's our special gift to you :)
Funny how that seems logical doesn't it? TO THEM.
So I call customer service. First I get someone who doesn't speak nor understand English. She hangs up on me. Next I get someone who still doesn't understand English but is happy to transfer me (in this case, transfer means putting you all the way back to the beginning of the automated system). Third time's a charm (although not really). Suzanne, who was oh so perky and happy to help me tells me that they don't do courtesy removals of over the limit fees. They only do this when/if there's was a bank error.
Bank error hunh? What about the fact that YOUR SYSTEM WAS DOWN so I couldn't even pay my bill, check my statement, etc... whose error is that Suzanne?
"I'm sorry Ma'am but we don't blah blah blah...."
Yeah yeah, caught that the first time Suzanne.
"Perhaps you should sign up for our email alert system that lets you know when you are approaching your
"HAVE THAT SUZANNE AND I DIDN'T GET AN ALERT BECAUSE YOUR SYSTEM WAS DOWN REMEMBER?!"
"Well I'm sorry that I can't erase your over the limit fee."
"Okay, so what can you do about the fact that you've decreased my credit line although my account has never been delinquent? What can you do about these ridiculous APR and finance charges? What can you do, Suzanne?"
I'll spare you the rest of the conversation because it was pretty much pointless. Needless to say Suzanne nor CHASE could do anything about my situation even though their "new changes" to my credit card are the reason I'm now dealing with "over the limit fees. (Over the limit my ass).
My favorite part of the conversation was when Suzanne asked me if there was anything else she could do for me. I'm usually not so mean to customer reps but at this point, I had had it. So I replied "I don't really think you can do anything to help me Suzanne, considering you've already not done a thing to help me thus far. Oh wait, I guess there is just one thing..."
"Surea, and what's that Ma'am?"
"You can cancel my card. I'm tired of dealing with this ridiculous thing you call service. It's a joke. Oh, and I'd like a letter in the mail stating you've closed my account."
I'm so sick of this. The banking industry has gone to the dogs. Actually, not even the dogs. More like sewer rats. It's not okay to punish good people who pay their bills with decreased credit limits and higher APRS. And how on Earth does it make any sense to charge someone who is over their credit limit another $39 dollars?! Doesn't that just mean they're even MORE over their credit limit than they already were? Apparently CHASE wasn't present when the lesson in logical business practices was being taught.
So on a closing note, if you're with CHASE, think twice. If you have a CHASE CREDIT CARD, close the account before you get screwed over. And don't bother calling customer service. They don't know the meaning of the word service.
And apparently I'm not the only one who feels this way. Behold: a complete web site dedicated the the hatred of JP MORGAN CHASE and all their suckiness: http://www.chasecreditsucks.com/