No. of Recommendations: 6
I received a notice of a change of terms to my Chase account in my statement this month. It said that my fixed rate of 5.99% was being changed to the default rate as of August 1st, 2006 - currently 31.74%. I contacted Chase as there was no reason (no lates with anyone, excellent credit, etc.)

The CSRs told me they don't even have that rate; the highest is only 29.99% and then only if you've been late three times or more. They attempted to reassure me that my rate will not change but I am still sending a letter declining the change in terms and informing Chase that if they can't stick with the original agreement, they may as well close that account. Just a reminder to read the notices in your statement!

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