San Francisco News Blog

LOTS more on the insanely evil actions of Chase can be found here: www.ChangeInTerms.com

The guy's been fighting them for months now... and it's building steam. >:]

Dear "Angry Lurker,"

Thanks for noticing my efforts to fight Chase (and abusive credit card companies in general). I law firm like Lieff has the ability to take on a monster like Chase and pursue a class action lawsuit through the courts.

I am operating under a different "theory," because I am not an attorney. I have another reason, which is simply a belief in the notion that when the "little guy or gal" tries to take on a gigantic organization, he or she typically gets crushed. Take suing the "government" as a state employee (I am a college professor) as an example: the state has almost unlimited resources, and guess who owns all of the courthouse buildings?

It's the same thing with arbitration, except that's a "rigged playing table." You, or me, or any other "little guy or gal" can't win, because credit card companies are such huge "clients" of the arbitration firms that the card companies pretty much "own" a constant stream of decisions against customers, and in favor of the card issuers.

So, as for my different theory, I believe in exposing unfair practices before the public eye, not in a closed meeting room, and forcing the evil doers at credit card companies to submit their cases before a "court of public opinion."

When those who do not carry a credit card balance finally realize that this issue is similar to what is happening with foreclosures (i.e., if it happens to your neighbor, and in your neighborhood, you are involved). Even if you thought this matter of abusive credit card company practices has no affect on you -- they do. When one of our citizens is treated unfairly and fails to receive justice, then every citizen is at risk.

All reader comments are subject to "Terms of Use" by clicking post. So don't click post if Terms of Use are not acceptable. Seems easy enough to understand. Sort of like when one gets a cardmember agreement with a credit card. If you don't like the terms... don't use the card. When you use the card you acknowledge that you have reviewed and agree to these Terms. Hmmmmmmmm interesting. Best of luck to you all when Chase shows up with that little cardmember agreement in it's hand. Don't get me wrong I am no a proponent of Chase Bank...just of reading stuff before one agrees. Getting that sinking feeling my comment will not be "approved" since it does not propel the "I am a victim" agenda here.

I not only read the fine pring I have a file of many of these solitations and I called the company and asked to make sure there was no way the terms culd change if I in no way faulted. I paid 3 fees for these contracts. I have been on time . I believed i checked out every senario and in 05 chase even now admits they would have told a cousstomer what they told me. I believed in California a change could not be forced on me but Chase wouldnot alow an opt out so tht we closed the cord and paid as contracted. i was scrupulus in eevery senario. I have 20 a month becouse it was loans on two cards. after complaining to the coc the exectutive off responded and convinced me they would not budge. with my effective rate rising monthly 10 days before they reversed the fees I paid a fee to transfer off.They were so firm that they would not budge and again my fault for believing them. when I asked for a cardmember agreememt they sent something with no code or date or anyway to referance if it was written this year as it was not whaat I was told in 05 when I enteded the contract. we willsee waht this country alowes when we all show up with our contracts and the laws that protect us from predatory breach of contracts and these extortion practices to take away a deal we paid fee to make. There excuse is not fine print is that the loans are too expensive. they get there money for less than when I was solicited through the us mail. not to mention the bail out. the 20 a month for me was at the purchase rate so my effective rate rose every month not to mention the disruption of the axcelerated payout of 500 extra a month. multily that by how many hundreds of thousands add lack of trust when we did read the fine print and see if that dose not affect the economy for everyone. They say they only targeted the life of loan cardmembers. we are the ones who have paid perfectly. I believee chase is lying when they claim they have not changed my rate because the efective rate means nothing just an internal thing. they told me that at least 5 times. dear anomour I agree it seems so outragous it is hard to believe we had no idea this could haped and not from lack of dillagance. I was very carefull to make sure there was no lack of use fees or anything that could change both terms the rate and the intrest. if I in no way faulted. this is why we are so upset. WE were scrupulus. passing up many other offers that have stayed honorable and this is the worse victimization of people I have ever seen a bank do though I now see the atourney general of california fined Chase for illegal activity in 2005. It was not the solititaton or cardmember agreement I should have read more carefully. I did. it was prior illegal activity I wish I had looked at so I would have not trusted them. I am still having troubel believing this country will let them get away with. I hope not.If banks are alowed to break contracts everyone in this economy will be affected. pleasse ask your atourney generals if there is codes that protect you in your state.Chase told me they are a NEw your Bank so do not have to comply with California Law. I believe it is as wrong as the many other things they have told me.

Same deal here. I have good credit. Starting two years ago, Chase offered me 2.99% fixed for the life of the loan on any balance I would transfer to Chase. So I transferred balances to Chase and also renovated my kitchen. I could have gotten a second mortgage for the renovation but hey, Chase was cheaper than a second mortgage. Net effect: as of last year, I owed Chase around $ 40,000.

Made every payment on time, reduced balance to $ 35,000, with monthly payments being $700. Yesterday, I got one of those "raising your payment to 5% notices" which means that my payments will jump to $ 1750/month in August. There's no way I can pay this.

I've been thinking this over and I think maybe I'll just stop paying them altogether. The only assets I have are my home (with low equity due to drop in home prices) and my retirement accounts, which can't be seized by creditors.

Does anyone know what happens if a person doesn't file bankruptcy, just stops paying a bill? I've never been late on a bill in my life so I'm not really sure what the consequence are, other than they could sue me.

Chase going from 2% to 5% on credit card payments is unethical and unreal!!!!!!!!!!! Why should the majority of us who are never late and have a fantastic FICO score pay for the errors of the bank by giving credit to individuals who cannot repay? Can you say "equal distribution of bad debt"..