looking for existing class action suit or law firm interested in starting suit against chase bank.
reg. strange practice of charging finance charges for amount paid in full and also for charging finance charges for 1 day late payment for over the period of 2 month on a high interest rate without sufficient legal base or any solution for customer to heal or make additional payment.
please respond to info@metropics.com

Have you made any progress with your Class Action suit? We've just had a nightmare experience with Chase. . .same as many others -- Chase just deciding to increase the rates to 29.99% without notice. Also had a perfect payment record for 7 years . . . but they used the 'credit risk' excuse. We also found out they had somehow enrolled us in a $150 'payment protector' plan -- how this happened we have no idea. . . we certainly wouldn't have enrolled in one. Long story but would like to know if you are making progress with your case. I'm sure there are many people who would applaud/join you. . .

I was just going on to write a blog to see if anyone had had problems with Chase and would like to start a class action against them ..... I have had a nightmare with them and I know of three other people one in my close circle of friends and the other who she knows .... YES we need to start a class action everyone who has been maimed by them please step up and say

I am ready to join you! I'm seeking legal advice A.S.A.P!! I know a few people who would probably be willing to do the same. Have you contacted a lawyer? Do you know any information about class action suits in matters like this? I will not rest until I have been compensated for my troubles and the time I have spent arguing with them and stressing, I will never get back! I am beyond furious! Any information you may have regarding these issues we have both had, would be greatly appreciated. I'm one of those people who has never, and thought I never would have any reason to sue any company, but they have ignited a fire in me and I will not stand for their unjust practices any longer!

I am with you on this issue. What needs to be done to get a suit started against Chase? Maybe a few attorneys will get stung with the bait and switch activity of Chase. Maybe some attorney will find his rate is suddenly 29% without cause.
Chase is a bottom dweller hiding behind thousands of 800#'s to nowhere and nobody.
I have had all I can take from this company, they call and hang up, then call back and say I am past due, when I am not. They claim the billing date changes from month to month. One supervisor told me that past due means one minute after midnight on the day before the due date. Then it was that my electronic payment was not received until after 4:00 pm on the due date. Then she suggested that I pay a few days early just in case.
Fraud! Harassment! Defamation of credit!

I am very interested in this class action against Chase.I am ready to go for it. I am so fed up with them. I have been a credit card customer of theirs for about 15 yrs with not one late payment ever on theirs or any of my other accounts.My credit score is around 700. They raised my rate from 13% to 23.99&!!! I have went round and round with them and they refuse to change it back. The higher rate applies to my existing balance not just future purchases. That is beyond unfair. They are the greediest most nastiest bank ever. They said they did it bacause my balance is higer now. Thats funny because they did it to my mother too who has perfect credit and a zero balance with them. If anyone has any information about any class action please respond. Chase has got to be stopped. I am certainly willing to put a lot of time and work in to stopping them.

If someone can get in touch with a legal representative to start a class action against Chase, I will be glad to join and provide all the information about my case. Apparently, there seems to be quite a few people who are screwed by this bank.

Chase bank bought out Credit One bank. Statement got screwed up. Received call in 2/07 that account was placed for collection. Account was current and up to date. NEVER informed by Chase of their intentions or actions, Contacted Chase, they indicated account was placed for collection in 2/05. No indication for Chase that ever happened. Continue to receive statements from Chase, continued to make payments to Chase, account current but placed, in Violation of Fair Credit Reporting Act.

I'm interested in a class action against Chase as well. I know some really unhappy consumers that are looking to file against Chase.

Another victim of Chase poor business practice.

I will support action against them, HOWEVER -

We also need to be doing something in addition to that.

I know Chase does not care the least about us here, because we are "preaching to the choir".

I will be looking for other areas to raise the general public knowledge of this issue - does anyone else have any ideas?

Would it be worth the time to promote this on Clark Howard's website?

MBA

I agree - a class action lawsuit is in order.

I have a 4.99% promo life of note and they have decided to begin charging a $10 monthly finance fee on my account in January, effectively bumping the rate up to about 12%. Have not been late nor over limit. This was not what I agreed to - they have broken their own contract.

Also slighted by Chase Bank. I agreed to a no annual fee account and a fixed promo rate for the life of the payoff.

I've just been advised in the fine print, unlike the flashy offers, that I'll incur a $10 per month fee beginning in January 2009, for no apparent reason.

Seems like breach of contracted offer, to me.

I have the same complaint. This is definitely a BREACH OF CONTRACT and very unfair practice.

I have a 5.99% fixed promo until balance paid in full. Also, when I opend the account 10+ years ago I agreed to a no annual fee account EVER. Now they want to impose a $10 month fee beginning in January 2009 and up the minimum payment from 2% to 5%!!!

How ridiculous, do they intentionally want to create a crisis. How many people would default under these terms which they would then jack up your rates to the DEFAULT rate of 30% +/-

I'm for creating a class action lawsuit to serve a larger purpose. For ex., Federal Regulation to limit the maximum rate to 9.99%, helping those in trouble by lowering their rates rather than increasing it to the DEFAULT rates, and etc. THESE DEFAULT RATES ARE JUST RIDICULOUS AND THE GOVERNMENT SHOULD PUT A STOP TO IT!!!

I ENCOURAGE ANYONE WHO HAS A COMPLAINT WITH CREDIT CARDS TO ADDRESS THEIR COMPLAINTS TO THE FOLLOWING AUTHORITIES. THEN SOMETHING COULD BE DONE BY LAWMAKERS.

1) Enter a complaint to your state's attorney general's office. You can find links to your state's AG website at naag.org.

2) Report the company to the Better Business Bureau. Submit your case for dispute resolution online at www.bbb.org.

3) Report the company to your elected representatives. You can find their email / mailing addresses at www.house.gov and www.senate.gov. Note that the banking industry (which is comprised mostly of credit card companies) has a lot of power in Washington, D.C. in the form of lobbyists and contributions to election campaigns. Despite this fact, your elected officials are more afraid of you because you can vote them out of office. If you think contacting them is a waste of time you're wrong. Someone will read your correspondence -- if enough complaints are received something will be done about it.

4) Report the company to banking regulators. Their mailing address is Division of Credit Practices, Bureau of Consumer Protection, Federal Trade Commission, Washington, D.C. 20580 or file a complaint online at www.ftc.gov.

Not to long ago, Chase credit badgered me with almost daily offers and credit deals. I took advantage of a low apr of 3.99% for the life of the loan. I have a credit score of 795, I have never been late with a payment, and always pay more than the minimum amount.

So when I got the "Important Notice Regarding Changes To Your Account, I read it carefully. Then I spent over 30 minutes on the phone trying to understand exactly why I was going to be charged a $10 monthly "service charge/Finance fee" as of January.

If you received one of these, alarms should go off when you read: "These charges are finance charges, and they will be added to the balance for purchases on your account."

NOTE the new "service charge/finance fees" are not subject to the low promotional apr but to your higher "purchases apr"....Ms. Coulter, the Chase service manager, pointed out that my purchases apr is only 7.99%.....TY Ms C., but I also understand that the apr for purchases is subject to variable rates and can and will change at the will of Chase (just like our low promotional for the life of the loan rate) and tacking a yearly $120 finance charge (that does not effect my low apr, so they say) with the associated and un-calculated interest at the higher "purchases rate" rather than the promotional rate leaves me, and the service representative supervisor wondering exactly how much additional "fees & interest" I will need to pay over the life of the loan.

I do not need to pay a $120 fee to have a credit card, I certainly do not need to also pay interest on that fee based on my "purchases" rate over the life of what was once a low interest promotion Chase really wanted me to take advantage of.

The service representative supervisor Ms. Coulter then offered to modify my account to a 7.99% promotional apr with no $10 per month service fee but with a limited time for repayment in full.

Mostly, Chase repeatedly encouraged me to pay the balance and close the account. I am not the type of person they want to do business with. I do not borrow more than I can afford to pay back. Chase only wants customers who are as irresponsible in their personal finances as Chase has been in its investments.

I will do as the Customer Service Supervisor encouraged me to do...close my account, but it is hard to tell what date I have to do it by.

"The monthly service charge is nonrefundable unless you notify us that you wish to close your account within 30 days of the date we mail your billing statement on which the service charge is imposed and at the same time, you pay your outstanding balance in full."

The billing statements are machine processed and there is no date on the envelope....when did they mail the statement I received today? .. there is no indication on the statement either....except that the bill is for 10/15/08 - 11/14/08.....today is 11/21

HMMMMmmmmmm...maybe I will have to make another 35 minute phone call to a Chase service rep to find out.

If you have the time call Chase, hold them on the line as you read their "changes to your account statement" aloud to them until you both understand every little nuance of the change...then ask to speak to a supervisor and do it again.
Take up their time, ask questions, take names, and then contact your state attorney general.

I have the same issue with Chase. I have a credit score over 700, never a late payment or any other issue and they want to charge me $10. a month and raise the payment to 5%/ balance on a 'Life of Loan' charge. I think their scam is they expect you to keep using their card after you transfer a balance at the low rate so they can whack you on balances at a higher rate. When you don't add any higher rate purchases they want to get rid of you. They are the worst and I would love to participate in a class action suit!

I can't close my Chase account. It is paid in full, and every month I owe an additional $4.00. At the bottom of the statement it says my APR is 179.91%. I kid you not. I am paying 179.91% on zero dollar balance, and somehow I owe them $4.00. They are idiots!

The current "change in terms" issue that imposes monthly service charge and increases minimum due to 5% of balance without any seeming option to opt out is indeed an intentional abrogation of previous terms agreed. If immediate Federal actions are not taken to stop it, an increased national crisis will be imposed by Chase in January. Possibly millions of cardholders will be forced into default at the huge default rates. People agreed to low interest balance transfers based on their ability to repay those transfers within existing pay-off schedules. This is an attempt by Chase to reverse low interest loans by imposing service charges effectively raising the rate AND effectively force people into default situations (by increasing amounts payable), whereby Chase can not only impose default rates on existing Chase accounts, but ruin credit scores and standing across the credit spectrum, allowing most other credit card issuers to increase their rates to default level. The unexplained "risk" issues vaguely referenced in Chase's announcement have no bearing on current credit scores, nor perfect payment records for over ten years as in my case.

The Office of the Comptroller of the Currency (oversight of banks such as Chase) can be reached as follows:
You can reach one of the OCC Customer Assistance Specialists by calling our toll free number, 1-800-613-6743, Monday - Friday, 7:00 a.m. to 7:00 p.m., Central Time or by sending an email to Customer.Assistance@occ.treas.gov

Your State's Attorney General website can be found at
naag.org

The United States Attorney General can be contacted at
http://www.usdoj.gov/atr/contact.html

Your State District's Federal Congressman can be found at
http://www.house.gov/

Any serious attempts to stop Chase from destroying further the US economy (while benefiting from taxpayer bailouts) through Class Action will be noted. All those listed above must be contacted (with proof) to bring this matter to the correct authorities. Ask them to forward you concerns if they are not the proper party and inform you of the proper party. It is likely an antitrust violation, etc.

Thank-you, mmusashi & so many others!

Promotional 3.99% fixed APR until the balance is paid.
I've been reading online since getting the notice that a lot of people have received. In my Chase MasterCard Nov. 2008, Statement. "IMPORTANT NOTICE REGARDING CHANGES TO YOUR ACCOUNT." There is going to be a new Account Service Charge of $10.00 a month AND the minimum payment due will increase from 2% to 5% of the ending balance on your monthly statement. When you call then you are offered an "ALTERNATIVE." We have never been late, always paid a little over minimum, have a credit score higher then 700. I feel we are being "strong armed" into an alternative that does not benefit the consumer at all.

I came across an article which included Chase and the increase on the minimum due going from 2% to 5%. My fear is what the article said that other cards will follow suite.

THE ARTICLE
Monday, November 24, 2008
How to Protect Yourself Against Credit Card Rate, Fee Hikes - Andrea Coombes

http://www.foxbusiness.com/story/markets/industries/finance/protect-credit-card-rate-fee-hikes/

After speaking with the OCC I have since come to understand that they have directed the banks to up the minimum. This was suppose to help the consumer pay off debt faster. I have yet to find anything on this "Strong Arming" and the fact that if we go to a higher interest rate for two years we can still pay the minimum 2%. How is this help to the consumer?

OCC Ph: 1-800-613-6743

http://www.occ.gov/index.htm

I was directed by the OCC to:
http://www.helpwithmybank.gov/index.html

The specialist I spoke with encouraged me to file a complaint.

Thanks to so many of you for posting and also idea's on what to do as this is just not right!
P.S I also wrote our Attorney General, still much to do and very thank-ful for info :o)

Thanks to everyone who is posting so intelligently about Chase's $10 monthly fee and 2% to 5% monthly minimum increase. This exact thing is happening to me, along with Chase's offer to stay at 2% with a 7.9% APR.

I plan to follow up in every way that everyone has suggested. My question is: how can a class action law suit be initiated? Do a group of individuals have to agree to approach an attorney? What actions need to be taken to get this started?

Thanks.

JP MORGAN CHASE COLLAGE

This is what a friend of mine received this summer:
"Use these balance transfer checks to take advantage of these super-low rates today.
• Save by transferring balances from higher APR accounts.
• Write a check to yourself
• Go on a well-deserved vacation
• Make home improvements"

This what she read in October:
“$25 Billion is going to Bank of America, JP Morgan Chase and Citigroup”

This what she received in November (from Chase):
"Beginning January 2009, we will be adding a monthly service charge of $10 to select accounts. We will also be increasing the minimum payment from 2 percent to 5 percent."

This what she received yesterday:
"Sound financial planning is the first step toward a successful future. Chase Clear & Simplesm provides valuable tools, insights and information that can help you reach your goals. Get started with these useful calculators
Use this calculator to see what it will take to pay off your credit card balance, and what you can change to meet your repayment goals, etc."

What is she doing today? Looking forward to a class action.