Chase offer

iVillage Member
Registered: 05-09-2005
Chase offer
11
Mon, 04-17-2006 - 2:25pm

I opened this 15 month 0% offer from Chase -- then I read the fine print. The transaction fee is 3% of the amount transferred with a minimum of $5 and a maximum of $99 (the $99 is higher than any other offer I have seen before). Then they say " we reserve the right to change the account terms for any reason (wow! ANY REASON) in addition to annual percentage rate increases for failure to comply with your account terms". On the next page they spell out what the FAILURE to comply means -- " we may change the terms based on information in your credit report, such as THE NUMBER OF OTHER CREDT CARD ACCOUNTS YOU HAVE AND THEIR BALANCES. They go on to say that the APR for this offer is not guaranteed: APRs may change to higher APRs, fixed APRs may change to variable APRs or variable APRs may change to fixed APRs. They also say they will use factors to determine the defaul rate including information from credit reports.

I guess at least they spell out how they plan to make sure that at some point the 0% will evaporate and some really high APR will appear.

Anybody else have experiences with Chase? Do they usually find some way of jacking up the rates -- based on payment history with other crditors etc.

Yikes

Megan

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iVillage Member
Registered: 02-09-2004
Wed, 04-19-2006 - 9:30am
I just wanted to add that I recently opened a capital one card and transferred by balances. No transfer fee, 0% interest for 1 year. I made sure to check the fine print about the transfer fees. It's worked for me so far. I think you can apply online, and they have different cards with different offers.

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