Those of you with Chase credit cards should be sure to open any and all mail received from the company and read it carefully – don’t dismiss it because it has fine print, looks like junk mail, or whatever the case may be.
Changes in terms are now being mailed to Chase customers, which may have a dramatic effect in how much per month will be required. Borrowers are being told that their minimum monthly payments are going from 2% of the total balance to 5% as of their August 2009 billing cycle. Some, who have had a balance for two years or more on a Chase card, reportedly are going to be assessed a new $10 per month servicing fee too.
No doubt, this will cause considerable cash flow problems for many Americans, who have Chase cards in their wallet. It could be that other large card issuers will follow suit with similar minimum requirements, too, so be sure to open & read mail from all card issuers that you may be doing business with.
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