Reply #6: Last year just before the new law took effect [View All]

[hobbit709]

Chase decided to bump my interest to 31.99% even though I had never missed a payment, never been late , always paid more than the minimum and had a balance under 50% of the limit.
My credit union offered me a card with 0% for the first year and a maximum of 11.99%. I took it and transferred the Chase Balance to it. When chase asked why I was canceling my two cards my reply was "Because I can get a better interest rate from my neighborhood loan shark that what you want"
I now have only 3 cards with a total balance under $1500 on a credit limit total of $10K. Now that my mortgage is paid off, I expect to have the cards paid off within 3 or 4 months.