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Re: Re: Predatory Lending Issues


    I had a problem with Chase Bank.  They purchased my WAMU account where I purposely had a credit limit of only $500.00. This was a business account that was normally paid in full from time to time.  I had a balance one month of $256.00.  When I received my bill Chase Bank had lowered my credit limit to $250.00 and charged me a $45 overlimit fee.  This occured during their transition, so the payment I sent was not processed for nearly 21 days after I had mailed it.  The following month I received a second overlimit fee, AND a late fee.  In addition, they had raised my interest rate to the very maximum the law allowed.  When I called to inquire I was told that no one who answered the phone had the authority to assist me, they just fielded calls.  I sent full payment immediately.  Much to my surprise I received a bill for $45 overlimit the third month!  I again called them.  They informed me that the overlimit fees were charged on balances held during the past 30 days!  So, in essence I was charged a late fee for their error and three overlimit fees, one of which was charged to me when I was unaware of the reduction in my limit.  I phoned until I was blue in the face!  Although they were not rude, they were no where near being helpful or apologetic.  Now, when I receive anything from Chase Bank I mark it “return to sender”.  If they choose to be dishonest they will at least pay the cost of return postage!