JPMorgan Chase & Co. Credit Card Complaint

JPMorgan Chase & Co. Credit card department,

APR or interest rate North Carolina

I opened a Chase credit card in - with an APR of 19.99 %. In -, my card went over the limit by few dollars because a transaction was posted late. I paid the balances immediately. However, Chase started charging me penalty APR of 29.99 % because I went over the limit by few dollars only once. It has been almost 8 years since that incident and Chase has not revised my APR yet. I have contacted Chase twice in last 3 years I was told they do review lower APR eligibility every 6 months. I asked the representative what should I do to qualify, he told me to sign up for auto pay and keep my credit in good standing. I am enrolled in auto pay with Chase for more than 2 years and my credit score on all three bureaus is above - addition to a good credit score, I also confirmed that across my credit reports : 1 ) No negative comments/marks ever.


3 ) Low balance to credit ratio on revolving accounts ( -25 % ) Interestingly, I have another Chase card on which I am being charged 19.99 %. Also, when I am logged into my Chase account, I am told that I am pre-qualified for a Chase Slate Card with 13.24 % APR ( including prime ). If I can qualify for a lower on an existing card and an even lower rate on a new card, I am not able to understand why Chase is charging me more than double interest rate on my existing card? I believe Chase is more interested in getting customers to open new accounts. The only reason I have not closed this account yet is because it is - of my oldest card on the credit history and Chase knows closing the oldest account will adversely affect my credit score.The lenders see a 29.99 % APR account on my bureau report, they could consider me a risky customer. I would appreciate if Chase can provide an explanation on why am I being still charged a penalty rate while Chase is offering me much lower interest rate on a new product. I hope Chase also considers my relationship of 8 years with the bank. I also contacted Chase explaining the whole situation above through customer service and " We 're listening '' program but they gave same old response " Chase reviews account every 6 months and I do n't qualify ''. They did not provide me an explanation on why I qualify for less than half APR on a new card ( screenshot attached ) and not on the current Chase - card. I called up Chase to follow up further and this time a senior representative mentioned Chase does n't revise APR at all. It is hard to understand why I would get an exceptionally good rate ( probably lowest ) on new card and at the same time I am charged highest possible interest rate on new card. I request CFPB to look into this issue with Chase and ask them to be more consistent and clear in their response.