I'd like to thank the Conservadems in the Senate! Chase just raised my interest rate..

[Joanne98]

To 18%. THANKS A LOT FUCKERS!

I knew this was going to happen because they were given a GREEN light by the DINOS!

They're going to do this to everybody too. You just watch!

Jamie Demon is having a fit about the no bonus policy and he's going to fuck millions of Americans to raise the billions he needs to pay back TARP.. because HE CAN!

Because the fucking "centrists" got his back!

I know what they're thinking. They can block ALL the progessive reforms because next year we'll be so busy fighting the GOP we won't have time to deal with them. Well they're WRONG!

The GOP isn't coming back so that means it's time to deal with the DINOS!

I didn't work my old ass off last year to get stopped by DEMOCRATS!

You know what the notice said.. DUE TO MARKET CONDITIONS!

NO reason. Just we're raising it because we need the money and no one can stop us! NA NA NA!

[tabatha]

1. Cancel the Chase card - as I did.

There are lots of other options.

Credit card use is not mandatory - people can vote with their wallets.

[Joanne98]

2. That's not the point! Our Representatives are suppose to protect us from THIEVES!

They worthless pieces of CRAP!

[Obamanaut]

6. Our representatives are parthers with the thieves. And ever two

years we reelect most of them. Shame on them, and on us as well.

[Joanne98]

9. No shit. That's got to CHANGE! We can't get change we can believe in or ANY change

With those fucking traitors sitting in OUR seats.

[donco6]

3. What was it before?

Mine's 16.74% and I thought that was pretty good.

[Joanne98]

4. It was 14% I guess I should be happy about only getting screwed for 4%

but that's NOT the point. The point is they are just a bunch of gangsters and I'm sick of them running this country into the ground.

Banksters have GOT TO GO!

[davekriss]

5. My wife's CHASE card first went to 24%

Then to 27% "due to market conditions" and some blather about need to maintain profits. She never made a late payment and always paid several multiples of the minimum payment. She cancelled the card.

On Edit, I stand corrected, it was my wife's Chase card. Interest on charges went to 24%, and interest on cash advances went to 27%.

[Joanne98]

7. canceling the card doesn't stop the interest rate being applied to the balance.

I'm declaring BANKRUPTCY! I'll transfer all my assets to my son and send Jamie a note that says FUCK YOU BANKSTER!

[Statistical]

11. Joe "Mastercard" Bidden already took care of that.

Under bankruptcy "Reform" the courts will determine how much CC debt you can handle (relative to you income and other obligations).

If it is below the threshold you can NOT file Ch 7. You will works out the debt under court ordered Ch 11.

Only if the courts determine that repayment under Ch 11 is impossible (due to the amount of debt relative to income) will they allow a Ch 7.

Ole Joe took good care of Mastercard.

[Joanne98]

12. Are you talking about the 2005 banking bill? Kerry voted for it too.

I was soooo pissed!

[Statistical]

25. Thats the one

It is technically called the "Bankruptcy Abuse Prevention and Consumer Protection Act of 2005" but like most similarly named things it does nothing but screw the consumer over.

One of the most egregious things is the "presumption of abuse"

Essentially the court takes your income and deducts ONLY the following:
* living expenses specified under the ‘’collection standards of the Internal Revenue Service,’’
* actual expenses not provided by the Internal Revenue Standards including “reasonably necessary health insurance, disability insurance, and health savings account expenses,”
* expenses for protection from family violence,
* continued contributions to care of non dependent family members,
* actual expenses of administering a chapter 13 plan,
* expenses for grade and high school, up to $1,500 annually per minor child provided that the expenses are reasonable and necessary,
* additional home energy costs in addition to those laid out in the IRS guidelines that are reasonable and necessary,
* 1/60th of all secured debt that will become due in the five years after the filing of the bankruptcy case,
* 1/60th of all priority debt, and
* continued contributions to tax-exempt charities.

If after the above you have at least $166 per month left over then it is PRESUMED that you are committing bankruptcy fraud and the BK petition is thrown out.

The govt (lead by people like the VP) figured if you have $166 left over each month that's $10,000 after 5 years so you should be a living slave putting 100% of discretionary income towards your creditors for next 5 years. That is "fair" and provides" consumer protection".

Even if you have <$166 per month it isn't over that is essentially just the beginning of the means testing.

The next test is does the monthly amount equal at least 25% of the unsecured creditors.
If you had say $100 per month ($6000 over 5 years) and $24,000 or less worth of CC debt you could NOT file bankruptcy. The courts figure you could simply pay down your debt 25% every 5 years (aka taking 20 years to pay it off). Once again petition is denied and the govt turns you over to the banks.

Essentially BK protection is joke now (or at best only for the rich and for corporations).

If you rack up debt it is for life now.

[Davis_X_Machina]

8. Refuse the new terms and conditions in writing...

...the mailing will tell you where to send that letter -- I used registered mail -- and then set up auto-pay for 150% of a minimum payment, and put it in a drawer till the balance is zero.

That's if it's a straight rate increase. If it's an increase to a default rate under an existing agreement, there's not much recourse short of paying it off as soon as possible, and then canceling.

If you can make a credible threat to zero out the card, and close it right now, some people have had luck negotiating with various humans on the other end of a phone tree. Seems they'd rather get 16% of something for another couple of years rather than 24% of nothing, beginning next month.

[Joanne98]

10. I'm living in OHIO. Half this state is unemployed.

People can't pay this kind of extortion. Where's the justice? The banksters are looting this country in 5 different ways.

I'm not getting into a fine print fight. I'm just NOT going to pay the fuckers anything.

BTW I've been trying to pay them off. It just hasn't been possible lately. I always pay more than the minimum.

I don't even care anymore!

[jazzjunkysue]

13. Mine, too. They think it will make my account more profitable. Like hell. If I always

pay it off each month, they'll lose money on me. And I do.

[Joanne98]

15. Well I can't pay it . I'm layed off.

[jazzjunkysue]

23. Then you'd better tear it up, now. Sorry to hear it.

[Joanne98]

24. Oh yeah I guess I'll just die. No problem.

What planet are you living on?

[jazzjunkysue]

14. Tear up the credit cards: Keep one for plane tickets and rental cars. That's all.

This is what it's gonna take to make people live within their means.

[Joanne98]

17. Plane tickets? I'm poor dude. I don't travel. I've been layed off for months.

I was supposed to be called back in March. I live in Ohio. We're getting wiped out by the auto crisis.

Believe me if I could pay them off and cut the cards up I'd do it in a heartbeat. I hate CC cards. But raising the rates JUST WHEN people can least afford it is going to bring the economy back down.

You can forget about a recovery. The banks are are to sabotage it. Mark my words!

[ananda]

16. I'm in the process of pulling out of Chase..

.. as much as I can.

Next month I plan to cancel my Chase credit card.

Then I plan to close my checking account and open
a little savings account.

Then, as soon as each CD matures, I plan to move
that money out to a credit union.

I HATE Chase with a passion!

[Joanne98]

18. Thankyou ananda. You get it.

[onethatcares]

19. whenever you think that the interest rate is really

$24.00 for every $100.00 you borrow you know you'll never get out of it unless you hit the lottery or sell everything you have, and that doesn't include the principle borrowed.

I just got a notice from that other card that's not in my wallet that I can transfer balances and maintain a 1.9 % for a year (3% for the transfer)on the balance transfer. Guess what? I canceled that card two months ago and am now just holding a card from my credit union without a balance.

DUE TO MARKET CONDITIONS

[Joanne98]

21. So what are you saying. Extortion is a way of life? I don't except that.

[onethatcares]

28. no, I'm not saying that at all

I really don't understand your reply.

[metapunditedgy]

20. Dump your Chase card. They tried to cheat me too, so I left. I think they want out

of the credit card business, since they're alienating so many good customers.

[Joanne98]

22. Oh I doubt if they want out of the CC business. It's obscenely profitable.

But they can play that game and we can call. Give the business to the credit unions and let the poor burdened banks go screw somebody else.

[dflprincess]

26. Call them and complain

Citibank tried to jump my rate to 14% and I called and complained. They "dropped" it to 10.6% which is still higher than it was, but at least it's not 14%.

[xchrom]

27. recommend

[and-justice-for-all]

29. dump ALL your cards....but maybe one..nt

[TransitJohn]

30. Sorry

I paid off and closed a Chase account in January. I hope what happened to me doesn't happen to you. After closing one account, all my others raised my rates because my available credit was reduced. They don't distinguish if if was closed by you or them.