Mad at disney visa..anybody else?

[stephaniebatesjones]

Ok, I am very upset at Disney Visa. They increased myAPR from 13.3% to 17.8%. I have good credit and am a long time/ good standing customer. I know that other credit card companys are doing this, but when I called the others to complain they lowered the apr back. Chase told me that they could not. Not only that, but they have increased a certain population of people now and plan to increase the rest this year. No idea on just who this "certain population is", although he did say that since people have lost their jobs that others had to make up for the loss in revenue.

So then when I asked to talk to a manager about this, he said that they had been given strict instructions not to transfer to a manager to talk about the rate increase. That there was no # or e-mail that I could voice my complaint with. That my only option was to write in to some dept. So I said let me get this right. They Increase my APR, then cut of all avenues that I can actually talk one on one to someone about getting it back to normal. This is how you treat your long time customers that are in good standing with you?


So I told him that when he put the info about this call in the computer to note that I am most likely going to close this account, and that I was going to tell all the DISNEY CARD HOLDERS that I knew... and that I was going to blast it to all disney fans and card holders on all the Disney sites I could.

I told him maybe if they lose enough faithful customers over this they will appreciate us a little more. Has this happend to anyone else? What did you do about it?

oH, i ALMOST FORGOT. Then they told me that before I cancel the card I have to use up all my disney points. Basically buy something first.

So if you have not gotten an increase, keep your eyes open.

 

[PEANUT1]

wow that really stinks!! I just checked my account online and it says my APR is still 12%..I have a small balance so its not a big deal but if they changed my rate I would be really peeved too

If this happened to me I would probably cancel the card but not until speaking to a higher up person..I would call back and demand to speak to someone. Don't take no for an answer..good luck.

 

[RachaelA]

This isn't something new. Chase has been raising rates for months now. There is a new post about this every week (and sometimes about the minimum balance going up).

They aren't going to put it back to your old rate. They probably should have let you talk to a manager, but they probably are dealing with people calling every day. Rising rates is the price you pay to have a credit card

 

[pigget74]

I had the same thing happen, but I went from 12 to 17. Not happy. Was going to call this afternoon, but life got in the way. I will be calling in the morning and nothing happens I will be closing the account on the phone. What aggrevates me is-----another card did this and gave a time frame to opt out of the increase if you closed your account. Well I closed my account. If they would have told me in advance (and they have not) I would have done the same thing.

 

[rcraw45425]

I have a Chase card, but stopped using it when the rates went up. Got a phone call from them last weekend asking why I was no longer using the card, I told them basically, your rates are too high. I preferto use my Visa check card (drawn on checking account) no interest that way plus I get points for all purchases ran as credit. THe lady tried to make some noises about the recession causing them to "have" to raise everyones rates, even those with good credit. I just laughed.

 

[stephaniebatesjones]

Well, that was the short version of the story. The rep on the phone also got rude with me. When I told him that I wanted to complain about the call in general, he tried to talk me out of it. We were on the phone over 35 minutes. I finally called back to complain about the call itself, and did get to talk to a manager. But that was only cause I called to talk about another problem, not the APR problem. He then told me about the letter that they sent where I could opt out. They said that since I did not get the letter, that they could honor it , and let me opt out and close it at the old rate. But they could not just decrease it. He said that the rep. was correct when he said thay had been given instructions not to transfer to a supervisor for APR questions. But if he had known that I did not get the opt out letter, he should have transfered me.

I just think this shows a big lack of appreciation for their customers. Especially since Disney has put their name on it. Good standing, good credit, long time customer, so what we still don't appreciate your businesss. So I think I need to take my business elsewhere.

Plus the rep basically told me that we ahere not impottant and it didn' matter what we thought.

 

[MickeyManiac]

They did the same thing to me. My rate went from 12 - 17.24%. I too am a long time customer with a great credit score and never missed or had late payments. I called them and had the exact same experience on the phone. That could have been my call except he said "Your new rate is 17.24% and we will not be changing it."

OK, fine. I called my Credit Union and they happily cut a check to transfer my small balance on my Disney Visa to a Visa card I have with them. (and with no transfer fee and only an 8% rate).

The best part was, when I was on the phone they also offered to refince my car at a lower rate. Guess who my current car loan is with...Chase. So today I got rid of 2 accounts with Chase. I do not plan to close my Visa, but I'm sure they'll close it soon enough for inactivity.

Maybe they should treat long time customers with good credit a little better. We do still have some options.

 

[Snoopygirl]

Wow....You guys are lucky....my APR is 20.4!!! YIKES!! Really, I don't pay attention to it because we pay it off every month so we never carry a balance. But still, that is way too high!!!

 

[neatokimmo]

Considering first that I work for a rival. I'd like to just say how much I like my Chase card. I like their website, I like their reward and I like their int rate (increased to 11.99% a couple of months ago). I don't carry a balance, so I'm not exactly the type of customer they want but still, always very polite when I call about something or email.

 

[dreamin_disney]

dh and i just bought another car with the cash for clunkers. My credit score was 833.
disney visa went from 9.99 to 16 something
some of my other cards also went up. I guess it doesnt matter how good your credit is. I wish they would stop raising the rates. But this just motivates me more to get rid of my debt. I just feel bad for those with high balances. With apr increase it will be hard for those to get out of debt

 

[buzz5985]

The first set of new credit card laws are going into effect soon, that's why all the interest rates are going up. If the companies don't do it now, when the new laws go in - they have to inform you it's going up and then there is a waiting period before they can actually go up.

I received a letter from AmEx - but it wasn't as severe as yours, I'm going from 7.99 to 8.99.

 

[hlkeck]

I have one card with a balance on it from our business - and Chase didn't raise the rate, they just raised the minimum payment by 2 1/2 times. When we called, they said essentially what they said to OP - bad economy, so we're trying to get as much back from you as we can - even though you've never missed a payment and have great credit. We don't care.

I'm mad at them too. It wasn't my Disney card, but another card.

 

[aka-mad4themouse]

Chase raised my interest rate from a fixed rate to prime +, making it a variable rate as of August 1. We pay it off in full each month, so it makes no difference to me.

I think that this is in response to future regulations that will not allow them to change the interest rate on existing balances. Economists are expecting interest rates to rise and this will enable the CC companies to raise the interest rate on the exisiting balances every time the Fed raises the prime lending rate.

 

[GeorgiaRose]

They raised mine from 12 to 17% as well. I don't carry a balance and my credit score is 781, so I think they are just raising rates across the board.

 

[DawnM]

I have no idea what my rate is. I need to go and check. We never carry a balance and I honestly don't pay attention.

DH would like to get a CC that gives gas point/cash instead of Disney dollars anyway, so we may switch.

Dawn

 

[ferrytale]

Back in January I called b/c I tried to use my Disney Visa card for an online purchase, but it would not work. I had not used it for a while b/c we were trying to get caught up on some things and NOT use our credit cards and try to pay them down. We had gotten things under control, and figured since my balance was so low, that I would use this and then pay it off immediately to try to help build my credit back.
I called Chase, and they informed me that they had closed my account - I do not recall getting a notice on this (though it is POSSIBLE I missed it somewhere). My online and paper statements both say the account is active and there I have available credit, but the rep kept telling me it was closed. They said they closed it because of my 2 late payment the prior year - and they were literally only 1-2 days late. But it didn't matter. I tried to get more answers but they were very short and not helpful at all. We had about 18 mos. of paying on-time and more than the minimum balance, and they were penalizing for 48 hours past the due date...I can understand the extra fee for being late or raising the rate, but to cancel the card all together was a little strange.
All in all, it is fine b/c we are going to get rid of our c.c. debt, we've been using only cash (or debit card) for 2 years and it works out fine. I am glad to see that the credit card changes are going into effect now though - this should help a lot of people.

 

[bumbershoot]

I guess it doesnt matter how good your credit is.

That seems to be it. They are raising things on people with all sorts of histories, credit-wise and how they deal with a balance on the card.

On another board, someone was talking about their convo with a Chase manager, and the mgr basically said that this was not based on anything on the customer's side, that it's nearly across the board and for their own reasons.

 

[anewmac]

So far mine has not been raised from 5%. but im sure its coming.. I too think ill be closing it once I pay off our last disney vaca at 0% we dont need disney dollars as much as we need gas etc lol

 

[cey]

We have been experiencing a similar situation in Canada with our Credit cards. What several companies were doing was raising the interest rate on a card you weren't using to encourage you to cancel the card. I carry a MasterCard I ownly use as a back up card, as I put everything on my Visa. Visa gives me 1% cash back which works for me. If you just carry a no fee credit card as a spare, it costs the credit card company money to have you as a customer. Mastercard didn't send me a new card at renewal time, I had to phone and ask for one. They asked me why I didn't use the card, and I told them it was my backup. They finally sent me one, after a real song and dance. Funny enough, I had been a Mastercard customer for 30 years, and only left them 3 years ago, after the TJ Maxx/Winners fiasco!

 

[Goofy'slady]

That's why I'm glad to have no CC's at all. I got rid of all but one over five years ago and the last one I got rid of 1 year ago. Rarely used it and now I see that in the long run for a lot of people they're more trouble then they're worth.

I do however, love my Visa debit card. I can do just about everything with that card that I could with my traditional CC's.

T.