How Chase/Quicken Screwed Me
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For years I have had a Quicken credit card. The rate was decent at 10%. I then missed 1 payment and the APR skyrocketed to 28%. OK, so I call QuickenCard, which is CitiBank. I ask them to please lower my APR. They say OK, and that it will be done in 1 month. Enter Chase, who takes over the QuickenCard services. I notice on my first statement with the new bank that my APR is 28%. I call and ask about getting a lower rate. Nope, can’t do it. “We don’t have access to your previous information.” I spoke to a supervisor, same thing.
I have fairly decent credit, and even another Chase card with an 11% rate. Why the 28% rate? Because they can, and there’s nothing I can do about it. Too bad that Chase is giving Quicken a bad name, I will never buy another Quicken product. I would suggest you do the same. Microsoft and HR Block make better money products anyways.
5 Comments
Martin Kruse
July 21st, 2008
at 7:27pm
Just cancel and get a different card, and in this self-inflicted banking crisis, expect to get screwed if you miss a payment.
Kevin
July 26th, 2008
at 8:52am
I am very mad at Chase. They switched my points program without my approval and all the points I had transfer over Citybank disappeared and they continue to give me the run around about where they are and when I can use them. I have talked to 6 representative and not help. I say we file a class action law suit!
Prithvi
September 6th, 2008
at 6:29pm
I like quicken and will use it until something upsets me. If you have a decent credit score why do you care? Just cancel the darn thing. Their loss.
Andy
September 9th, 2008
at 8:41am
Hey I got nailed too, but they were slick about it and changed my minimum payment by a few dollars which I missed. I’m still fighting with Chase. So far I got my old interest back, but still fighting the interest that the 28% hit me with.
Andy
September 9th, 2008
at 8:53am
I just visited my Quicken Card account online and they reimbursed my interest and late fee. What you have to do is write a letter justifying the error on what caused the rate increase the promotional rate you had should have bridged over. Fax your letter to their ‘Research-Review Board” at 1 800-352-3913. I will take about 7 - 10 business days. It’s been two weeks for me and although I don’t have a response they’ve credited my account what I asked for.
It isn’t quicken you should be upset with it it Chase. Once my balances are paid off they are history with me.