Thanks, Chase – time to find a new credit card

March 19, 2009 at 10:20 pm (Money & Investing)

I’ve had a credit card from Washington Mutual for a number of years now that I’ve bought everything with, and I really mean damned near everything, about the only thing that doesn’t go on it is stuff like fast food restaurants and vending machines.
It had a decent interest rate (at least for someone with slightly tarnished credit) of about 9% and a cash back program that rocked, because I’ve always completely paid the card off every single month (thus no finance charges), and every few months they’d cut me a check for a couple of hundred bucks, free cash.

Well – “WaMu” got bought out by Chase last year during the first onslaught of bank closings – and they finally got around to changing the credit cards over.

And, without bothering to tell me or anything handy like that, I noticed on the web site my interest rate suddenly went up to 11%, and I no longer have a cash back program. It’s now under Chase’s shitty “reward points” program, which I couldn’t give a rat’s ass about. It does give you the option to cash them in towards credit on your account – but at about 1/4 of the value I was getting before. The $150+ I had sitting in my rewards account last month has vanished, and now I’m eligible for a whopping $25 credit on my account. Thanks Chase! Kiss my ass!

Time to start looking to see if I can get another cash-back rewards card instead.


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