Shame on WaMu-Chase

Chase Scamming Customers With Hidden Fees

mad at wamu-chase — Thu, 30 Jul 2009 05:15:39 +0000

This is from a post at Daily Kos – WAMU/CHASE Hidden Savings Account Fee Scam…

I happened to check the account statement today, and found out that CHASE HAD BEEN DEBITING THE ACCOUNT EVERY MONTH FOR A SAVINGS ACCOUNT ADMIN FEE, CONTRARY to the Account Terms in force when I started the account!

Without ANY fanfare (that I could find) CHASE has “terminated” WAMU’s policy of waiving account maintenance fees on savings balances under $300!!

So my modest balance had quietly been siphoned off at $5 per month since the CHASE consolidation, and my account was practically empty. (We won’t get into why I didn’t religiously check my bank statements, but I was pretty sure that the money would be there, since there were no fees being debited.)

Chase Bank is Stealing Houses. Could your home be next?

mad at wamu-chase — Sat, 25 Jul 2009 16:48:28 +0000

This video is from a site called WAMU Chase Ripoffs. The post is called Chase Stole My House…

In this video, I explain how corrupt of a financial institution Chase Bank is. This is not just my opinion, but the opinion of thousands of others that have filed complaints and class action lawsuits against this financial juggernaut.

I missed one payment. I had a super record with this company for eight solid years. One missed payment brought my minimum payment up three times. I went from an 8.45% interest rate to 29.99%. When I called the company to negotiate, all three parties refused to change anything. In the past, all other creditors behaved amicably; not this company though.

Boycott Chase at all costs, and tell your friends what their real plan is. They are preparing for the worst economic collapse in 2009, and by ridding themselves of customers, they limit their liabilities.

Chase Bank Complaints – Chase AKA WaMu Credit Card

mad at wamu-chase — Fri, 24 Jul 2009 23:38:23 +0000

This is taken from a complaint forum – It’s a letter from Tony and Lynda Ruiz about the shameless cancellation of their credit card without notice…

Company information:
Chase Bank
21222 Alameda Del Monte
Wildomar, California
United States
Phone: 951-541-9694

7/21/09

Chase Bank
POB 17199
Wilmington DE 19850-7199

Shame on you for canceling our cards without prior notice, but we expected no more from an impersonal, despicable big bank’s takeover of our nice, small town type bank we found in Washington Mutual. We’ve been expecting and waiting for something like this low-life action. And as to the lack of notice, what if we’d been in a position to need the card yesterday?! I found out by trying to set up a computer software trial when the card wouldn’t go through. And as if you cared, what if we were traveling, depending on this card for food, hotel and other services? What’s next, our checking accounts? In spite of our good management, it wouldn’t surprise us at all. I doubt any of you bank monsters have any concerns for individuals, so we’ll manage without your stinking credit cards. We were loyal customers of WAMU but not you high rollers. You are part of what’s wrong with this country. You are bums, a disservice to this country and we’d like you out of our state.

What part of “don’t use any more credit than you have to” don’t you understand? And, what part of paying off your credit card each month instead of letting your abysmal interest pile up money for you don’t you understand. It’s Chase vs their customers except for the high rollers.

And as far as sticking your nose into our credit reports, that is a tactic more recently being used by you impersonal machines to use against and inconvenience us. The one item on our credit report is a human condition, and believe it to be the unjust charge we are going to prevail on, but again your impersonal nazi-style actions prevail.

And what happened to the nice MC who does your commercials. More crap of course from a company who’s record is already exactly that…crap. It’s YOUR record that is found lacking. Have you bothered to see the long list of complaints on the internet? Like a Bank of America founder’s granddaughter is disgusted with what her bank has become, so it goes with you, but doubt you’ve ever been anything but another self-serving financial institution who doesn’t deserve decent people’s business.

And you think this is over? We’re going to put the word out about how you too are one of the bad guys. I’m thinking we should be able to make an indelible impression of what most Americans today suspect is the case. Your and your lot should be run out of business. An economy like this where so many are suffering trying to keep their heads above water and here come the evil landlords. That would be your ilk.

Tony and Lynda Ruiz

Cc: President Obama
CA Attorney General Jerry Brown
Bill O’Reilly, Fox News
Los Angeles Times
Ombudsmen at large

—

If you have been affected by this shameless behavior by WaMu-Chase, please let me know in comments. Feel free to also link to other stories and/or complaints about this issue. Personally, I’m very afraid that this is going to make the lives of many more people very difficult. This is a very slippery slope, and most of us rely on credit cards to some degree. What would you do if you no longer had the option to use a credit card? Would you have enough cash to cover food, medicine, bills? Even if this is something that is not currently effecting you…you’re not out of the woods yet. Think about how vulnerable we all are to these banks.

WaMu and Chase Customers Beware – Your credit may soon be canceled.

mad at wamu-chase — Fri, 24 Jul 2009 21:51:19 +0000

WaMu-Chase is up to a lot of no-good. Here are a few examples…

Despite $2.7 billion in profits for Chase from their purchase of WaMu…Chase is now rewarding WaMu customers with increased interest rates and even just outright canceling their credit cards without notice…

From Kristen Grind – JPMorgan Chase Q2 Earnings…

JPMorgan Chase’s purchase of Washington Mutual last year helped the New York banking company boost revenues in several key business areas during the second quarter, resulting in overall earnings of $2.7 billion.

The bank’s quarterly revenue of about $28 billion was bolstered by gains in JPMorgan’s retail banking, consumer lending and commercial banking divisions. Those divisions were all affected by JPMorgan’s $1.8 billion purchase of Seattle-based WaMu last year.

This is from Justin at About.com – Watch Your Chase Credit Cards…

Some Chase credit card users report that their cards were unexpectedly canceled.

When trying to use the cards, they were declined and later informed that the card was closed. There seems to be a recent uptick in this activity, so keep a close eye on any Chase credit cards that you have.

So far, it’s tough to say if this mostly affects Washington Mutual customers or if anybody with a Chase credit card is at risk.

Kenneth Long wrote Chase Increases Balance Transfer Fee…

For several years from 2003-2007, Chase actively encouraged its superprime customers to rack up large debts through very attractive balance transfer offers. While most were around 3.99% or 4.99%, some were as low as 1.99%.

The idea was that they would float these low interest balances for a few months until the cardholder did something to prompt a higher rate. They were hoping that enough cardholders would miss a payment so that they convert a certain percentage of these accounts into high-profit producers. A cardholder that missed a payment would see their interest rates hiked and would lose the “life of the balance” rates for good.

From Bob Sullivan at Red Tape Chronicles – Credit card firms try out new squeeze tactics…

But Chase recently threw James– and perhaps hundreds of thousands of other consumers – a huge credit card curveball. The firm sent letters to customers beginning in late June indicating that minimum payments would be raised from 2 percent to 5 percent. In August, his monthly payment will spike to $750.

“What they’re doing is pushing decent people into such tough situations,” he said. “I’m between a rock and a hard place.”

Around the Web, Chase customers are screaming about the change.

From Carine Fabius at The Huffington Post – Your Credit Card Company is Spying on You…

There have been untold accounts in recent months of perfectly good customers being flummoxed at having their rates hiked or cards canceled. Ever notice how those customer representatives are at a loss to tell you why? Because, according to the article, “…they worried that customers would revolt if they found out they were being studied so closely.” You bet your ass, buddy. Can we get going with that revolt, please?

As Congress gets ready to vote on a bill that will limit the damage the credit card rats can inflict on customers, let me tell you they are scurrying even more now. Reports say they’re getting ready to target their best customers (with sudden rate hikes, etc.) in order to minimize the “damage” being inflicted on them — that damage being their inability to continue gouging the most vulnerable among us.

This is just the beginning. If Chase is allowed to get away with this, every other bank will follow. And if you are one of the millions of people already struggling in this poor economy…Just imagine how hard it is going to be when you lose your ability to use a credit card for your food, gas, prescriptions and doctor visits (just to name a few).

If you have been effected by these shameful tactics being used by WaMu-Chase I hope you will leave comments and links.