JPMorgan Chase & Co. Credit Card Complaint

JPMorgan Chase & Co. Credit card department,

New Jersey

In -, I received a notice from Chase Credit Card Services that my credit card rate was below market at 14.5 % and that my rate was being raised to 16.5 % effective - 2017. I have never been late on the card and have been a loyal customer. I was informed by Chase that if I did not want to pay the 16.5 % I can close my account. I submitted a written request to Chase to cancel this amendment to my credit card rate and honor the 14.5 % rate they provided pursuant to my credit card agreement. All consumers are aware of the impact to your credit score when closing an account. This is an egregious practice in interest rate hikes to consumers and should be stopped. Chase provided no other option besides closing of the account.