Comments on: the chase way https://archives.lessig.org/?p=2590 2002-2015 Sun, 18 Nov 2007 23:18:58 +0000 hourly 1 https://wordpress.org/?v=5.7.2 By: Barb https://archives.lessig.org/?p=2590#comment-4559 Sun, 18 Nov 2007 23:18:58 +0000 http://lessig.org/blog/2004/05/the_chase_way.html#comment-4559 Dear Hana,

I’m with you! Chase Sucks. period. Their staff lacks people skills, their managers are rude. And the only thing they go out of their way to do for people is charge them higher interest rates, late fees, etc. EVEN WHEN THE ERROR IS THEIR FAULT!!! Their terrible. I’ve reported them to several agencies already and I’m not stopping. Discover on the other hand is the complete opposite. I would recommend them to anyone! They treat your account like it’s their own, Great staff, always helpful, never rushes you off the phone, takes alot of time to explain and help. Great managers also.

Barb

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By: Anti Chase - Hana https://archives.lessig.org/?p=2590#comment-4558 Thu, 18 Oct 2007 11:51:41 +0000 http://lessig.org/blog/2004/05/the_chase_way.html#comment-4558 I finally canceled my 2 checking accounts with Chase. I had these account for 11 years. Chase Bank sucks! If I tell you different stories how they treated me, it would take me 50 pages. In short I took an action and said : NO MORE”.

There is no reason for customers and consumers to keep having business with Bank that don’t value business they have with them!

It took me awhile to detach but this was the best ethical decision I have made this month!

I simply don’t want to have business with people who clearly disvalue me. It’s not the only bank in the world.

Also none of my children ( potential customers ) will have business with Chase. If evreyone who is unhappy opens accounts with good bank, maybe bad bank like Chase would not be open for much longer.

Because having business with Bank that clearly don’t value customers is like bad relationship with a man or woman, in which you are clearly 1) financially used and taken advantage off 2) disvalued and 3) not worth of effort.

This is your money, not theirs, you should be in charge of how things are taking place, they should follow rules and regulations, and if they don’t – leave them!!!!!!

Don’t wait, just do it you can’t possibly make mistake with a bank who don’t value you.

Sincerelly,
Anti Chase – Hana

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By: April https://archives.lessig.org/?p=2590#comment-4557 Tue, 20 Feb 2007 13:52:50 +0000 http://lessig.org/blog/2004/05/the_chase_way.html#comment-4557 I was able to close my Chase account. BUT because I had sent in two supplementary payments that unfortunately bounced, Chase instead cancelled my account ahead of me. Notwithstanding the payments were additional to my regular payments, Chase claimed I was delinquent. Turns out that their (Chase’s) rule of thumb is “two bounced check payments [they were online payments] and we close your account.” Beware!

Isn’t there anything I can do to resolve this in a better way, since now it is/will be on record that they closed my account and it will be on my credit report. The only thing that the service representative could offer was for me to fax my bank record to them (Chase) that proved the checks were not returned.

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By: April https://archives.lessig.org/?p=2590#comment-4556 Tue, 20 Feb 2007 13:51:58 +0000 http://lessig.org/blog/2004/05/the_chase_way.html#comment-4556 I was able to close my Chase account. BUT because I had sent in two supplementary payments that unfortunately bounced, Chase instead cancelled my account ahead of me. Notwithstanding the payments were additional to my regular payments, Chase claimed I was delinquent. Turns out that their (Chase’s) rule of thumb is “two bounced check payments [they were online payments] and we close your account.” Beware!

Isn’t there anything I can do to resolve this in a better way, since now it is/will be on record that they closed my account and it will be on my credit report. The only thing that the service representative could offer was for me to fax my bank record to them (Chase) that proved the checks were not returned.

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By: Anonymous https://archives.lessig.org/?p=2590#comment-4555 Wed, 02 Jun 2004 23:24:41 +0000 http://lessig.org/blog/2004/05/the_chase_way.html#comment-4555 I got mugged in Italy on November 2, 1989 on a train. I contacted both Amex (actually went to their office in Milan) and Citibank Visa within hours to cancel my account. Nevertheless the thief(s) charged about $1000 each to both cards. When I got my next Amex bill all it took was a quick phone call and they cancelled the charge (they also helped greatly while in Milan to get a new passport and new Amex traveler’s checks).

Citibank, on the other hand, refused to listen to reason and kept billing me for the stolen card charge. They finally had the audacity to send me a copy of the charge slip with a date of “2/11/89” with the thief’s forgery of my signature, and insisted I had charged this several months earlier. Apparently nobody at Citibank is aware of Europe’s reversal of the month and date. I finally gave up until collections tracked me down. When they called I finally was able to talk some sense into an intelligent person and they fixed it (although it messed up my credit for a while).

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By: Kevin https://archives.lessig.org/?p=2590#comment-4554 Wed, 02 Jun 2004 16:11:41 +0000 http://lessig.org/blog/2004/05/the_chase_way.html#comment-4554 The FICO score is pure marketing genius. Fair Iaasic develops an black box algorithm that has a high correlation with defaults. They sell it for $4 a pop to the credit bureaus (who in turn sell it to nearly every mortage and credit card issueer). Since the algorithm is secret, it’s difficult to develop a competing algorithm and prove that it is better without a significant number of credit reports and scores. Who has enough credit reports and scores? The credit bureaus, but they are adding another $5 to the cost, so it is not in their interest to anger Fair Iaasic.

Interestingly, my statistician friend at a card issuer, has developed a model that is better for their customers (which may be a different demographic) than the FICO score – but they also are not in the credit score business.

Using the FICO score for setting insurance rates or prescreening out poor people is yet another topic…

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By: Ryan https://archives.lessig.org/?p=2590#comment-4553 Wed, 26 May 2004 10:41:29 +0000 http://lessig.org/blog/2004/05/the_chase_way.html#comment-4553 Yes, you can record the call, but depending on the states that you and the Service Rep are in, you might have to notify the Rep that you are recording.

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By: Chris https://archives.lessig.org/?p=2590#comment-4552 Tue, 25 May 2004 04:29:18 +0000 http://lessig.org/blog/2004/05/the_chase_way.html#comment-4552 When the prefix the call with a recorded message saying “this call may be recorded for quality assurance purposes” …

…doesn’t that mean that YOU could record it?

It might not be in writing, but it would surely make it hard to alter the terms of the deal later.

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By: Morphy https://archives.lessig.org/?p=2590#comment-4551 Mon, 24 May 2004 23:10:01 +0000 http://lessig.org/blog/2004/05/the_chase_way.html#comment-4551 Lots of good comments here on how to stay even with the game, go it one better, at least tread water, etc., except one I think. The one from the guy about not canceling your credit cards because you might be afraid of damaging your credit rating. Sounds like a protection racket to me…and in fact, that’s kind of what it is. I have a parent who helped design the credit card transaction system for Chase Manhattan Bank waaaaaaaaaaaaaaaaay back in the woebegone past. Credit cards were seen as a luxury back then, but today people treat them as common currency, and a lot of the time because of the delayed impact of the payments, they completely screw themselves. And the credit card companies aren’t doing anything evil — they’re just keeping pace with reality.

Credit cards are wonderful things, but I’m not all that worried about Professor Lessig’s credit rating or his inability to pay the bill. I’m sure the former is just fine and the latter could be managed with a few very pedestrian sacrifices.

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By: Liudvikas Bukys https://archives.lessig.org/?p=2590#comment-4550 Mon, 24 May 2004 14:19:50 +0000 http://lessig.org/blog/2004/05/the_chase_way.html#comment-4550 Unless you’re going to give up on Chase altogether, you should go for even better terms – Chase “CashBuilder”: 1% rebate (maybe higher if you run a balance, which I don’t), in cash once/year (not funny money “points” or minutes or miles). Maybe that would make up for the aggravation of the forgotten/unauthorized unfulfilled verbal promise.

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