JP Morgan Chase bank acct-holders: Chase is trying to remove your right to sue for disputes, force you into Binding Arbitration, which YOU MIGHT HAVE TO PAY FOR! Last time I was involved in Binding Arbitration, the arbitrator charged over $4K!
According to Chase's "bedsheet notice" (28.5" X 10.5"), single-spaced, two sides, I CAN opt out of Binding Arbitration, but I have to do it in writing (I'm good at that!) and they have to get it by 8/22/19. They give a PO Box, which could mean I can't send it Certified to get a Return Receipt, grrrr...
The notice also SEEMS to refer to a reduction in the Grace Period for interest-free use of their credit cards. They've either cut it by 4 days or nine, I'm not sure which...
Chase is introducing something to further confound account holders, the "My Plan" and "My Loan", which have to be addressed in very exacting ways, and the interest rate for credit cards now zooms to 19.9%! I have a 800 credit rating, and both USAA Fed Svgs Bank AND B of A have given me cards at far less interest rate, with $20K+ credit lines on them.
BTW, my entire account set-up is referred to by Chase as a MILITARY account, so this is how that firm now treats known Veterans. Grrrr!
BTW-2, JPM-C USED to have a New Yawk address, but this notice is addressed out of Wilmington, DE. In case you don't know, this is Joe Biden's greatest perfidy: he set up Delaware as a "no-rules" banking state back in the early '80s. If you need one reason to NEVER vote for Creepy Joe, this is it: he has screwed over more banking customers with "no-rules DE banking" than anyone else ever did. JMHO, but Delaware banks should rightly be considered in the same class as those in Belize or the Cayman Islands.
I just moved ALL my banking from a Credit Union to Chase in the past year. I'm definitely considering moving it again. I'm also considering the dumping of my Chase mortgage, esp. since mortgage rates have dropped almost a full point now since I re-floated my home-loan with Chase.
I am interested in why you moved from a CU to a bank. For ten+ years I am done with banks. Credit unions only.
Editor's Note: My CU is circling the drain. I know this because I used to be on the Auditing Committee. About 20 years ago, they made a HUGE mistake of extending a lot of credit to illegals, and lost a lot of money doing that. Various retrencments in services offered have followed in a continuous stream.
Posted by: Rick | June 27, 2019 at 07:26