Greys & Things

Have you experienced any changes to your credit cards recently?  I saw on the news that Chase has decided to implement a $10 a monthly fee for anyone who carries a balance.  Also, they have decided to raise the interest rate on customers, even if they have paid on time.  If you transferred a balance to a Chase card, watch out.   I have not received my latest bill, but I am nervous to see what they have done to me.   I transferred a balance for the first time ever to take advantage of a low interest rate and it may come back to bite me in the butt.  It really does not seem fair.  I had to pay $59 for the transfer.  I figured that fee would end up saving me a little money because I knew I couldn’t pay the credit card off immediately.  The charge was not something fun.  It was a necessity.  I had to charge my propane bill.  I have never had to do that before either, but times are tough right now.  Apparently everything Chase is doing is legal, it just doesn’t seem fair.  I pay my bill on time and I will be penalized.  I also heard that some people’s credit cards are being closed because they do not use them monthly or they pay off their balance each month.  Personally, after I pay off this bill which I hope is within the next two months, I will limit my charges even more than before.  My husband has to use a credit card for work, so we can never be without one.

Here is a link that talks about the problem: Consumer Affairs