Those bastards!!

[CameronBornAndBred]

I have a Visa card from Wamu...they tanked and my account was moved to Chase. I got a few letters telling me about the move and what would be affected, I had to change my login to pay online and a few other minor details. On the whole nothing changed. I pay all my bills online, if I get one in the mail, I toss it. Usually I don't even open it. Anyways, I've been paying their bills with my other 2 cards every month, making sure I still have credit available on all of them and that I haven't missed payments. Two weeks ago I billed something to the Wamu card and it was denied, I didn't think much of it because I knew I had a few hundred bucks available on it. Today I tried to use it at the gas station, and it was denied, so I checked the account online when I got home, and it all looked good. So I called them. They told me my account had been closed 3 weeks ago. They told me so in one of those letters I always throw away, but there is no notification on the website. I'm ok with them closing it, at least now I know why it was declined, but it makes no sense that nothing changes on the site.
So, to Chase, I give you a "Those bastards!" one finger salute.

[TillyGalore]

I've ignored envelopes that turned out to have important info as I too pay my bills on-line. Now, I open the envelopes to make sure I don't miss something.

Did they say why they closed your account? If you pay your bills on time I don't understand why the would close your account.

[CameronBornAndBred]

Did they say why they closed your account? If you pay your bills on time I don't understand why the would close your account.

They probably did in the envelope!
I know it's fairly common these days. I don't have a huge credit line with them (or anyone, whew) so it's not a surprise after the company takeover/buyout. Lot's of folks have had their accounts closed. What I am worried about is the credit score. I know it would go against me if I closed it, but I don't know if the same is true if they close it. My guess is that it does. Another salute for the bastards. The card was good until 2011.

[colchar]

What I am worried about is the credit score. I know it would go against me if I closed it, but I don't know if the same is true if they close it. My guess is that it does. Another salute for the bastards. The card was good until 2011.

I would check your credit report and, if it has affected it (might not appear yet), I would appeal to the credit bureaus to have that notation removed. If they closed it without any wrongdoing on your part there is no reason you or, more accurately, your credit score, should suffer.

[CameronBornAndBred]

What I am worried about is the credit score. I know it would go against me if I closed it, but I don't know if the same is true if they close it. My guess is that it does. Another salute for the bastards. The card was good until 2011.

I would check your credit report and, if it has affected it (might not appear yet), I would appeal to the credit bureaus to have that notation removed. If they closed it without any wrongdoing on your part there is no reason you or, more accurately, your credit score, should suffer.

That's true. It usually takes a month or so for those things to show up, but I would appeal.

[ArkieDukie]

Off topic, but my first thought when I saw the thread title was, "Oh my God! They killed Kenny!" :lol:

[CameronBornAndBred]

Off topic, but my first thought when I saw the thread title was, "Oh my God! They killed Kenny!" :lol:

Nope, they just closed his account.

[Devil in the Blue Dress]

Chase buys up lots of credit card accounts. They're the devil to deal with for mortgages, too. Too big to give meaningful or helpful customer service. The last straw for my Chase mortgage was when my neighborhood was annexed. I talked to a customer service rep in one state, worked out paying into escrow what was needed for an additional tax I knew would be due. The jerks in another state kept sending it back.... I was trying to avoid inflated mortgage charges based on a one year bump (long story.. involves class action law suit here that was finally settled but resulted in some additional prorated tax the first year only). I gave up and refinanced with my credit union and saved lots of money and stress.

[TillyGalore]

Chase buys up lots of credit card accounts. They're the devil to deal with for mortgages, too. Too big to give meaningful or helpful customer service. The last straw for my Chase mortgage was when my neighborhood was annexed. I talked to a customer service rep in one state, worked out paying into escrow what was needed for an additional tax I knew would be due. The jerks in another state kept sending it back.... I was trying to avoid inflated mortgage charges based on a one year bump (long story.. involves class action law suit here that was finally settled but resulted in some additional prorated tax the first year only). I gave up and refinanced with my credit union and saved lots of money and stress.

Oh crap! My mortgage is with Chase.

[Devil in the Blue Dress]

Chase buys up lots of credit card accounts. They're the devil to deal with for mortgages, too. Too big to give meaningful or helpful customer service. The last straw for my Chase mortgage was when my neighborhood was annexed. I talked to a customer service rep in one state, worked out paying into escrow what was needed for an additional tax I knew would be due. The jerks in another state kept sending it back.... I was trying to avoid inflated mortgage charges based on a one year bump (long story.. involves class action law suit here that was finally settled but resulted in some additional prorated tax the first year only). I gave up and refinanced with my credit union and saved lots of money and stress.

Oh crap! My mortgage is with Chase.

Do you bank with a credit union? If not, check it out.

I use the State Employees Credit Union. I love the direct pay, better rates and twice monthly payment which cut the term by a third! Check out the Duke credit union.

[TillyGalore]

Chase buys up lots of credit card accounts. They're the devil to deal with for mortgages, too. Too big to give meaningful or helpful customer service. The last straw for my Chase mortgage was when my neighborhood was annexed. I talked to a customer service rep in one state, worked out paying into escrow what was needed for an additional tax I knew would be due. The jerks in another state kept sending it back.... I was trying to avoid inflated mortgage charges based on a one year bump (long story.. involves class action law suit here that was finally settled but resulted in some additional prorated tax the first year only). I gave up and refinanced with my credit union and saved lots of money and stress.

Oh crap! My mortgage is with Chase.

Do you bank with a credit union? If not, check it out.

I use the State Employees Credit Union. I love the direct pay, better rates and twice monthly payment which cut the term by a third! Check out the Duke credit union.

Did you have to pay another round of closing costs?

Also, I have an FHA loan, does that make a difference?

[Devil in the Blue Dress]

Did you have to pay another round of closing costs?

Also, I have an FHA loan, does that make a difference?

There are closing costs to refinance, but you can roll them into the loan and not have any out of pocket expense.

You can refi an FHA loan. (Check the contact to be determine whether there are any penalties for early pay off of loan.) Best to sit down with a loan officer at your credit union and see what they can do for you. If you already have your checking account at your credit union, you've got the first step in place. (My credit union charges a lower interest rate if the mortgage payment is automatically paid from my checking account (or other account such as money market, savings, etc.)

[EarlJam]

I have a Visa card from Wamu...they tanked and my account was moved to Chase. I got a few letters telling me about the move and what would be affected, I had to change my login to pay online and a few other minor details. On the whole nothing changed. I pay all my bills online, if I get one in the mail, I toss it. Usually I don't even open it. Anyways, I've been paying their bills with my other 2 cards every month, making sure I still have credit available on all of them and that I haven't missed payments. Two weeks ago I billed something to the Wamu card and it was denied, I didn't think much of it because I knew I had a few hundred bucks available on it. Today I tried to use it at the gas station, and it was denied, so I checked the account online when I got home, and it all looked good. So I called them. They told me my account had been closed 3 weeks ago. They told me so in one of those letters I always throw away, but there is no notification on the website. I'm ok with them closing it, at least now I know why it was declined, but it makes no sense that nothing changes on the site.
So, to Chase, I give you a "Those bastards!" one finger salute.

CHASE - May they burn in hell.

-EJ

P.S. All kinds of craziness with credit cards these days.

[Lavabe]

I salute your salute, and I am raising a Schlafly raspberry hef to your dislike of Chase. They really don't have good customer service.

[Miles]

CBaB, the same exact thing happened to me. Except I read the letter and also noticed, that upon closing my account, they decided to jack up the interest rate. It, in no way, accurately reflects my payment history or credit rating. I'm on the aggressive payment schedule to knock out the care in a few more months because I just cannot bare the idea of them earning any more money of the interest.

WaMu was really good to me. Chase can burn in hell.

[CameronBornAndBred]

CBaB, the same exact thing happened to me. Except I read the letter and also noticed, that upon closing my account, they decided to jack up the interest rate. It, in no way, accurately reflects my payment history or credit rating. I'm on the aggressive payment schedule to knock out the care in a few more months because I just cannot bare the idea of them earning any more money of the interest.

WaMu was really good to me. Chase can burn in hell.

I found the letter, I'll have to go back and check the rate. I didn't see where they upped it, but I didn't read it all that carefully since I knew what the news was.

[CameronBornAndBred]

I got some awesome banking news today. Since Jen and I have separated, I had to open new bank accounts. I opened a checking and savings account as I planned, but part of the process is that they (BB&T) automatically apply you for a credit card. (You can opt out.) I was pretty sure I'd get shot down, since the other 2 times I applied with them I was denied. So I checked my online banking today and noticed a third account...for the Visa card! (Which was happily waiting for me in the mailbox.)
Here is why is it awesome...I have been trying like hell to pay off my credit debt. It's not an insane amount, but the interest rate I am paying on those cards IS insane. This is one reason why they have not been so easy to pay off. So now (according to my online banking) I have a $2500 credit limit with BB&T, at a totally reasonable rate (12% as opposed to 20something). As soon as I have that card in hand and it's activated, I'm transferring my existing credit balances to it. For the first 6 months, my APR is 0%, so that's even better..I get to enjoy 6 months of no more interest charges. Sure, I'll still owe the same amount of money, but it will be so much easier to pay off having all my debt in one spot and at a lesser rate. I'm happy! (And still in debt )

[CathyCA]

I got some awesome banking news today. Since Jen and I have separated, I had to open new bank accounts. I opened a checking and savings account as I planned, but part of the process is that they (BB&T) automatically apply you for a credit card. (You can opt out.) I was pretty sure I'd get shot down, since the other 2 times I applied with them I was denied. So I checked my online banking today and noticed a third account...for the Visa card! (Which was happily waiting for me in the mailbox.)
Here is why is it awesome...I have been trying like hell to pay off my credit debt. It's not an insane amount, but the interest rate I am paying on those cards IS insane. This is one reason why they have not been so easy to pay off. So now (according to my online banking) I have a $2500 credit limit with BB&T, at a totally reasonable rate (12% as opposed to 20something). As soon as I have that card in hand and it's activated, I'm transferring my existing credit balances to it. For the first 6 months, my APR is 0%, so that's even better..I get to enjoy 6 months of no more interest charges. Sure, I'll still owe the same amount of money, but it will be so much easier to pay off having all my debt in one spot and at a lesser rate. I'm happy! (And still in debt )

Congratulations!

I hope that you can get it paid off before the interest charges kick in again.

Take THAT, Chase!

[Devil in the Blue Dress]

I got some awesome banking news today. Since Jen and I have separated, I had to open new bank accounts. I opened a checking and savings account as I planned, but part of the process is that they (BB&T) automatically apply you for a credit card. (You can opt out.) I was pretty sure I'd get shot down, since the other 2 times I applied with them I was denied. So I checked my online banking today and noticed a third account...for the Visa card! (Which was happily waiting for me in the mailbox.)
Here is why is it awesome...I have been trying like hell to pay off my credit debt. It's not an insane amount, but the interest rate I am paying on those cards IS insane. This is one reason why they have not been so easy to pay off. So now (according to my online banking) I have a $2500 credit limit with BB&T, at a totally reasonable rate (12% as opposed to 20something). As soon as I have that card in hand and it's activated, I'm transferring my existing credit balances to it. For the first 6 months, my APR is 0%, so that's even better..I get to enjoy 6 months of no more interest charges. Sure, I'll still owe the same amount of money, but it will be so much easier to pay off having all my debt in one spot and at a lesser rate. I'm happy! (And still in debt )

I've found BB&T to be a great bank to deal with. I use BB&T for my small business. The only one better is the State Employees Credit Union.

[lawgrad91]

Glad BB&T came through for you. I had never had any contact with them until Bruce and I got married. He already had an account with them and suggested our joint accounts be there as well (my personal account is through a VA credit union near my work, which isn't so convenient when you live in NC). BB&T has been great. If there's a problem, you talk to a person who speaks English as a first language who can actually help you.

Agree with EJ on Chase. May they burn in hell