I'm Feeling GREAT Today!!!!!
 

I was 12 HOURS late on a CC payment and Chase jacked my interest from 9% to 29%. I fought customer service yesterday and was in tears because they wouldn't reverse the APR hike. I have a huge outstanding balance on the account. I had a horrible day yesterday :(

Well, this morning I checkd my checking acct balance and found out that my student loan/grant/scholarship cleared! I just paid that credit card in full and cut it up! I am no longer ever using Chase Bank for a credit card again! They are so rude and unforgiving.

good for you, enjoy your day!

Good for you Kristy!! Credit cards can be a horrible item at times. I'm proud of you for cutting it up and moving on.

I'm guessing that most credit cards companies are NOT forgiving. They are in business to make money and anytime they are able to jack up that interest they surely will.

Our rule on credit cards is whatever is charged that month must be paid in full when the bill comes. I understand that this doesn't work for everybody but it sure does in our household.

"What's In Your Wallet"?? LOL :D ( I watch tv way tooo much )

Yay!!! Good for you! I bet they are kicking themselves now because you won't be charging anymore w/ them! :)

Oh, I had the same thing with Bank of America awhile ago,, I always pay more than my min. payment... well I didn't notice they raised my min. payment considerably,, So I send in a check for 100.00 not thinking,, Then I notice B.O.A. is on my caller Id everyday,, so one night I answer and this guy Starts going off about my payment is late.. and I say I sent that, AND it's been cashed (I check, checking acct all the time online) and he's saying Oh NO... Blah Blah.. and can I guarantee I'm gonna send the money Today, and can do it online,, SO finally I figure out my min. payment was 115. NOT the 100. sent.. SO~ Im livid on this guy,, Screaming about call some dead beat that doesn't pay ANY of his bill,, I'm telling him my credit score, and to look at my acct it's NEVER been late,, and always paid well over min. payment.. SO then I settle ,,and he starts again on WHEN is he gonna get this Fricking 15 dollars,, I said "OH YOU'll Get it tomorrow, and I'll be closing out my account tomorrow also" He says " Oh I'm sure", and snickers... :eek: :mad:

SO I did send him his Damn 15 dollars,, and my balance was switched to my Discover card by 9am the next day...
Give me a break.. snicker at me.. I know the snot nose kid on the other line could care less,and probably doesn't even know I closed my acct.. But Oh ,it was the principle by then! :thumbup:

Kristy I am no expert on this but you also need to send them a letter telling them you want the account closed. Just because you have paid it in full and no longer are using the card it is still an active account. If you go to buy a home it will still show active if you don't close or if you do close it will state closed by customer. It will still be used as a portion of your debit to income when they are figuring if you can buy a home.

This is where it gets confusing as some financial experts say you do need to run with some credit on the books but your account with Chase will always be with one of the big 3 who collects this data and will still show up 30 years later.

Maybe someone with more experience than me can better define this.

Good for you!!! Credit Card companies don't give a crap about why or when or anything, and it sucks cause it's not like you didn't pay the bill that same day! Geez, hopefully you can find another credit card that has better customer service!
Same for you Rhonda, that customer service guy that you talked to was terrible! How could he be so rude? Good for you too for closing out your account.

You can close your account over the phone too, just make sure & tell them you want a letter sent to your house saying the account is paid in full & closed. :)

holy crap! You already got your student loan money....didnt you just start back? My school must just suck because I got to reach the 60% certification of the class before i get anything. Im looking at maybe the end of feb or early march which really sucks!!!! :( :( :(

You do have to close it out in writting. I remember hearing (was it on here or one of my local friends?) about someones mother passing away, and months later the credit card company sent a bill for the annual fee and then turned it over to collection when it wasn't paid. It was a big hassle with the credit card company because they wanted the dead person to send them a letter. :rolleyes:

Kristy, that sux! Good for you tho that you got it taken care of! Our house has the cc rule that Schatzie's does...anything charged gets paid when the bill comes.

SO glad to hear that today is looking up from yesterday! 12 hours! Sheesh! That really sucks. I'll stay clear of Chase too in that case. Credit cards are so handy but they can be so evil! :thumbdown

Good Move, Kristy and Rhonda
 

I don't know if I would chance doing it by phone. I would write a letter, requesting confirmation that this was done. Also make a copy or print
the letter and send the original letter via the us postal service with a signature
conf. so you can see it was received and who signed for it.keep receipt with tracking # in case you need to verify the date that was done. I've been
doing this with my prescription drug coverage with medicare. Had to cancel
one and had to tell the other to cancel what I did not even apply for..

One thing I might add, you don't necessarily have to be late with THEIR
cc bill, if you are late with any bill, say phone, rent etc they can raise
your interest rate.

Yes, I have heard that too but if they have raised your interest this high and they
see you were late, they will watch you like a hawk because you have all this credit
available to you. I really don't know, maybe your bank can give you some advise
before you would do it.

I've also heard it suggested to keep a credit card, but frozen in a block of ice in your freezer so you can't make any impulse purchases.

I'm thinking it would need to be a BIG A$$ block of ice to keep me away if I was determined enough!! After all, I do have hot running water right next to the freezer! :D :D

Meanwhile, I'll just stick to my cash card.

Oh funny, I have this picture in my mind of you with an ice pick chopping away to
get to that diamond sale. $10,000 reduced to $1,000. Really that frozen card, is
not a bad idea and it's one my daughter is going to get next phone call. lol

It'll show up on your credit report also. You really DO need to send them a letter stating you wish to close the account. It's in YOUR best interests to do so.

Great news Kristy!

When my husband was layed off from his job recently, all our credit cards did this. We've been such good customers and always paid on time, it really sucks that they give you such little leway. We had hundreds of dollars in late fees add up and then to top it all off our interest rates went through the roof too. I think it was Discover that was the worst! Anyway, took a little equity loan out on our home and paid off all those stupid companies and it felt soooo good to do it.

That's why you have to request them to mail you the letter saying it was paid in full & closed. We did this w/ 2 credit cards & it worked out fine. :)

I have heard that stuff too about keeping the acct open. Yes, I do have LOADS more debt! haha. I am going to cut it up, but keep the account open I think. If i ever decide to use it again, I will just request a new card.

Chase stalks me. I had an account a few years ago and they would call me every couple of weeks asking if I wanted to sign up for one of their protection plans, I would tell them no and a couple of weeks later someone else would call. This went on for months, even after I requested it be noted not to call and threatened to cancel the card. They didn't stop and I had to cancel. Since then 3 of my cards have been taken over by Chase. It's crazy, I can't get away from them. I think they are a cult. Watch out, you could be next. ;)

It's such a great feeling paying those suckers off.

Kristy, if I were you I would go to a bank, any bank and ask to talk with a
loan officer. They handle mortgages and would be able to tell you which
would be better to keep it open or close it since you haven't purchased a
house yet. If you owned a home you might do things differently. They
look at credit reports daily and know how they are judged. You don't have
to give alot of detail. Just a thought.