Okay there I said it. I hate them! But unfortunately with the whole Fico system they are for the most part a necessity for modern life. How savvy of these companies to make their abusive service near mandatory for our existence. You may think my words harsh, but today most companies review your credit report before hiring you – bad credit, no job. Now, that makes sense.
So we have new legislation in place to protect consumers. Let the abuse continue! When checking my Chase statement yesterday, they raised my APR from 12% to 21% because, boo-hoo, market conditions. Yes, that is what they told me. These greedy corporations ruined our economy and now conditions are not great for me.
How can you get around this? I can close my Chase account which could reflect poorly on my credit rating. GET IT – accept their abusive raise in rates, or a negative reflection on my credit score. Screw Chase bank! After being a customer for over ten years, I closed the account.
I honestly can care little for their rationalizations or explanation. I don’t care if they need to “manage” risk. If only we, the people could do something? If only we, the people could stand up to these gluttons of Capitalism instead of being at their mercy. If only we, THE PEOPLE can take back our future from corporations.
I say anyone who received this from Chase Bank. Don’t succumb to their abuse. Close your account and take your business to a smaller bank or better yet credit union. The free market entitles us to choose where we take our business. Let’s take it to the small business.