tag:blogger.com,1999:blog-6280765612127936808.post2555888128819142794..comments2023-10-19T09:58:04.389-07:00Comments on Two-Headed Quarters: Lifetime Promotional Credit Card Rates: Whose lifetime?Joe Ganemhttp://www.blogger.com/profile/13688552494593097153noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6280765612127936808.post-66205404853080233172009-02-27T20:14:00.000-08:002009-02-27T20:14:00.000-08:00The comment from the Chase employee on your post i...The comment from the Chase employee on your post is a huge disservice to you, as Chase has perpetrated one of the most despicable acts in the history of credit cards. Imagine that, a company that has previously testified before Congress about playing fair and providing "opt outs" (none exists in this instance) correcting you in getting "facts straight." <BR/><BR/>That so-called fee is in fact, "a finance charge," as per the actual change in terms notice, despite Chase's constant media spin trying to call it a fee or a service charge -- this is certainly a case that could be a poster child for "deceptive marketing strategies." That's the reason for the 10 class action lawsuits to date -- yes the number is growing. Bait and switch, fraud, violation of TILA (Truth in Lending Act) provisions, all are among the allegations that I think a "jury trial demanded" venue would absolutely prove beyond a reasonable doubt. <BR/><BR/>Since you are an academic, and so am I, you may enjoy knowing that this will be another kind of case beyond any court proceeding when I am done, as in "textbook case study" on what happens when a company is too bold in its willingness to abuse consumers. Future generations in college classes across the nation, will learn what not to do, from this.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6280765612127936808.post-41450000613500602662009-02-27T13:57:00.000-08:002009-02-27T13:57:00.000-08:00The person who works for Chase needs to find hones...The person who works for Chase needs to find honest work.<BR/><BR/>The fact is, Chase did NOT offer ANY form of opt-out, and this "change in terms" is basically a unilateral attempt at legalized extortion. If they gave 45 dyas notice, or just two, it's still false advertising, and a violation of the Truth In Lending Act: the terms of the loan were "fixed for the life of the loan."<BR/><BR/>Also, worth noting, Chase itself calls the new "fee" a finance charge. <BR/><BR/>More info here:<BR/>http://tinyurl.com/at7ylo<BR/>http://tinyurl.com/dmzqev<BR/>http://tinyurl.com/dbc2nv<BR/><BR/>There are NINE class-action lawsuits filed on this already, and more coming. See the links above for more on that as well (home page, lower-left).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6280765612127936808.post-58388826396919749562009-02-16T21:32:00.000-08:002009-02-16T21:32:00.000-08:00I work for Chase Credit Card Services and thought ...I work for Chase Credit Card Services and thought I should inform you that we didn't just announce these Changes in Terms last week. We actually sent notifications to effected card members back in November, so they were informed 45-60 days in advance. If you are going to writing an article from a negative standpoint and try to preach to other people, at least make sure you have your facts straight.Anonymousnoreply@blogger.com