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Experiences with Chase Bank?
I just opened a checking account with Chase on Wednesday because I wanted to be at the same bank as R to make things easier and more convenient.(We have separate accounts though).
People who bank with Chase: how has your experience with them been so far?
I've been with Wells Fargo and gotten screwed royally, and then Compass before the bankruptcy (closed it because I had no need for it). I never did see those "free rebate of other banks' ATM fees, and they liked to charge huge fees for other basic services.
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Re: Experiences with Chase Bank?
Run. Run Fast. Holy Fuck Run!
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Re: Experiences with Chase Bank?
Elaborate? R has had good luck with them for YEARS, but I wanted other's opinions and why.
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Let me just put it this way: They are STILL calling me (In Australia) at 4am.
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Re: Experiences with Chase Bank?
Everyone that I know that has a Chase account said they've had great service and loved banking with Chase. That's who we were going to open our account with.
I was asking all kinds of people at my job before I quit because we'll have to get a new bank when we move (since the one we have right now is local only).
I have a Chase credit card right now, and I haven't had any problems with that.
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Re: Experiences with Chase Bank?
R has been very pleased with Chase, so I chose them. I also applied for the credit card too Deni, however if I am approved, I'm worried. I heard that they have randomly changed fixed 7.99% rates to 24% variable rates, no matter what the customer's credit rating is, and no explanation. That scares me.
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Re: Experiences with Chase Bank?
they treat me good except for my 20 percent apr.... for no reason...
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Re: Experiences with Chase Bank?
Quote:
Originally Posted by
CorsicaFire
R has been very pleased with Chase, so I chose them. I also applied for the credit card too Deni, however if I am approved, I'm worried. I heard that they have randomly changed fixed 7.99% rates to 24% variable rates, no matter what the customer's credit rating is, and no explanation. That scares me.
Oh they have. Yes they have. They also call you can call you NAMES when you're ONE DAY late paying them because you moved and didn't get their letter til THE SAME DAY THEY CALLED YOU - ONE DAY LATE... then they call your emergency family TWO DAYS if you don't pay them and tell them to contact you to contact them to pay them while you're still WTFing over the sudden interest rise... all the while they berate you because you JUST got the letter the day before and were posting the payment today but now they're harassing you saying they'll file a report on you. :(
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Re: Experiences with Chase Bank?
Quote:
Originally Posted by
CorsicaFire
R has been very pleased with Chase, so I chose them. I also applied for the credit card too Deni, however if I am approved, I'm worried. I heard that they have randomly changed fixed 7.99% rates to 24% variable rates, no matter what the customer's credit rating is, and no explanation. That scares me.
Yeah, I'm not sure what my interest is on that one. I just remember I got it to put plane tickets on when we went to Colorado.
My main reason for picking Chase aside from family recommendations is being able to use my credit card for overdraft protection. I hate it when we don't pay attention to what's in the account and then end up with $30 fees for something that cost $5.
EDIT: Not that I don't pay attention to what's in the account...but a certain someone gets a little debit card happy...*cough*Mox*cough*...and ends up with an overdraft without even realizing it.
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Re: Experiences with Chase Bank?
IBI
Did it change suddenly, or was that what it always was? I don't know if I'll even be approved with my shitty score with the bankruptcy and all, but the banker told me I should just give it a try, and I want a CC to try to establish some credit again. I'd also like to have one just in case it's needed for something like renting a car.
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Re: Experiences with Chase Bank?
Chase Bank owns me..so does Citibank. My fault. Once I pay them off I will never use their services.
I always tell people to bank with credit unions.
Avoid credit cards if possible, especially if you're young.
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Re: Experiences with Chase Bank?
I personally don't like them. I originally had my car loan with them, and they were decent. I got a deal on a credit card with them because of my good payment history. Out of nowhere my 8% interest jumped to 15% in the course of 4 months, for no apparent reason (payments were made on time, etc). I was VERY displeased. Also, beware with their checking accounts, if you don't have direct deposit, you have to keep something like 2500 bucks in there at all times or get charged shit loads of fees.
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Re: Experiences with Chase Bank?
Quote:
Originally Posted by
CorsicaFire
I've been with Wells Fargo and gotten screwed royally,
Um, mind me asking how so? I've always had an account with Wells Fargo and never any problems, but then again, I don't use any of that money. But I will have to soon.
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Re: Experiences with Chase Bank?
Wells Fargo...grrr. They admitted to me that they were issuing my account bogus fees that ultimately led them to close my account. Even after I disputed the fees and the closing, they said "Well, there's nothing we can do about the fees now, we closed the account. How about opening another one?" Fuckers.
I also have a student loan with them. They have verified my new address (where I've been living for 2 years, they had my parents address) many times, but will not send me statements. Even when I call them they say "We sent you a statement in the mail, and it comes back returned to us with an incorrect address" OMG, they verified it at LEAST 3 times with me! No excuse! So now they still refuse to send me statements at all, even after I call them repeatedly asking them to, they promise to do it, and then never do.
Fuck you WF!
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Re: Experiences with Chase Bank?
From my own observations, Chase appears to have two different 'classes' of customers - and treats those different 'classes' very differently. If you are a net depositor or a borrower with a high credit score and no history of late payments, they tend to treat you very well. However, if your credit score drops, if you are late with payments etc., they seem to immediately shift gears from treating you as a 'valued customer' to treating you as a 'worthless deadbeat'. They are so big that everything is extremely bureaucratic too, with no allowances for personal mitigating factors.
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Re: Experiences with Chase Bank?
I have had Chase for years. I have never had a problem. As long as you pay on time, CC, and never overdraft your account, you should be fine. Any bank will rake you over the coals if you pay late or overdraw your account.
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i had never once been late with them or overdrawn and i have a 20 percent apr.
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^^^^^ Wow I thought Chase was pretty good. Yet I use a credit union also! Chase is my secondary bank. I have not use other services. When I read about Venus experience WOW that is scary. She just same me time, and money.
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So is there ANY credit card, from a bank or not, that says it has a fixed rate and it actually STAYS fixed?
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Re: Experiences with Chase Bank?
The only credit card I have ever found that had a fixed rate that never changed no matter what was at a credit union. If you want a credit card without alot of fees and hassle shop around at credit unions.
Not all credit card companies have universal default rates (what Venus described) . Credit card companies do not pull your credit report. They have constant access to your credit score itself. They also keep several differant types of scoring systems like a risk factor score, likely hood of bankruptcy scores, etc. Each score is from a forumla they have created to judge their customers. Any time you call in they review all this information. All fees and rate changes are automatically done by the computer system itself.
If you have a high apr it can be for several differant reasons beside your credit score. Some types of credit cards ie rewards card start at a higher interest rate. So even if you have good credit you have a higher interest rate. Some credit cards are subprime cards as well. If you can not get a lower rate with the type of card you have right now ask if you can change it to a differant type of card to get a lower apr.
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Re: Experiences with Chase Bank?
The days are gone when banks and financial institutions could pretty much turn a profit across the board by issuing credit cards to as many customers as possible. Essentially, it now boils down to the fact that banks and financial institutions are finally taking a long hard look at which segments of their customer base generate long term profits and which segments of their customer base generate long term losses. Then like car or health insurance companies, they tend to 'lump together' customers with similar statistics, and charge those customers who are statistically more likely to cost them more money due to bankruptcies / defaults a higher premium.
Also, like insurance companies of old 'redlining' insurance coverage, today major banks can simply decide that they do not want to extend credit / issue credit cards to certain customers. Of course this leaves those 'redlined' customers with few options for obtaining credit / credit cards, and those options involve higher costs.
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Re: Experiences with Chase Bank?
Credit cards are the greatest money making vechile banks have. They use credit cards to offset losses in other areas so that they can generate the same level of profits for their shareholders.
They play a good song and dance about good verus bad customers but if that was the case the same policies would always be in place. The risk factor isnt always about loss in their credit card division but losses in others ie mortgages right now. The consumer isnt just paying for one of their mistakes but also the mistakes of others so that shareholders make the same level of profits.
Thats why i advocate credit unions.
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I am quite amused when people fuck up with money, and then ratfuck the bank for charging them fees that any other bank would have...
BTW - Don't buy shit you can't afford on your CC, and never worry about the interest rates again. The only thing financially worse than borrowing against a credit card, is not making your payments on what you borrowed...
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Re: Experiences with Chase Bank?
I hear you, lunchbox, but in fairness lots of banks are now pulling all sorts of tricks to 'encourage' credit card accountholders to f#$k up - changing the monthly payment due date, introducing significant internal processing delays between receiving a payment and posting a payment, 'universal default' triggering of penalty interest rates based on changes in credit rating and/or supposedly unrelated financial history (i.e. being late on paying a different bill), introducing their own 'increased risk' standards (i.e. using more than half of your credit limit triggering penalty interest rates) etc.
Unless the cardholder watches their bank like a friggin' hawk, unless the cardholder is prepared to dispute bogus charges with certified payment date of delivery receipts, and unless the cardholder is prepared to tell the bank that they'll pay off the outstanding balance tomorrow such that the bank can shove the cardholder's account up their a$$, it's virtually guaranteed that all of the major banks will make regular attempts to screw the cardholder and will refuse to drop the bogus fees / penalty interest rate.
However, banks do tend to lump together customers who are late making a payment one time with customers who are chronically delinquent - and just like the IRS once a person's name gets listed in the delinquent column the 'wheels' start turning without regard for individual circumstances. Credit unions are far better in this regard, since in most cases a member of credit union management will know the cardholder personally or at least know their long term financial history and will not classify a person making one late payment the same as a person who is chronically one step away from bankruptcy.
In the grand scheme of things, Americans have become 'spoiled' over the past couple of decades in that easy credit has allowed people to obtain credit cards, mortgages, car loans etc. that their credit history and/or personal economics really didn't justify. Now that the banks' financial game is changing from 'pass off the risk to somebody else' to 'eat the losses themselves', it is extremely likely that people with marginal credit are simply not going to be offered credit cards in the future unless they are secured by a deposit. Or if people with marginal credit are offered credit cards, car loans, mortgages etc. it will cost them an arm and a leg in terms of interest rate and fees.
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Credit cards are the greatest money making vechile banks have.
arguably this was true in the past for all customers, and it is arguably still true for good credit rating customers. However, the subprime credit card sector has taken some very heavy lumps in the past 18 months in terms of bankruptcy losses.
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Re: Experiences with Chase Bank?
^ Bingo.
I moved. Told them my new address the day I moved and then charged me a late fee of TWO HUNDRED DOLLARS ON A 300 CARD AND AN OVERDRAFT OF ONE HUNDRED because I was TWO days late because they sent the letter to my old address, not my new one like I ASKED.