Chase reverses new maintenance charges

By Lynn Truong. Last updated 6 April 2009. 6 comments
Photo: Istockphoto

Back in January, I wrote a post about finding a new monthly $10 "maintenance fee" for my Chase credit card -- the one I was never late on and had a transfer balance that guaranteed me a 3.99% APR for life. People were outraged, of course, but now Chase has had a change of heart. I received this in the mail today:

Dear Lynn Truong:


In November 2008, you received a notice advising you of changes to your credit card account effective with your January 2009 statement. In that notice, we communicated a $10 monthly service charge would be applied to your account.


Beginning April 1, 2009, we will no longer assess a $10 monthly account service charge. We will credit your account for any $10 monthly service charge(s) billed since January 1, 2009 along with any finance charges related to the $10 monthly account service charge. You will see the adjustment on your April billing statement. Your minimum payment due each month will remain at 5% of your New Balance as communicated in the November 2008 notice.

There's also a rumor that Chase didn't do this because of customer feedback, but I'd like to think the blogosphere had a little something to do with it. 


Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any bank, card issuer, airline or hotel chain.

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Guest's picture

I was wondering what that $10 charge on my Chase Freedom card was. I was pissed, but I didn't do anything about it. I'm glad that some people did!

Guest's picture

I got the letter too. I was concerned about the sentence ---
"After January 1, 2011, the APR for any remaining portion of the balance(s) would be the applicable APR associated with this type of balance as outlined in your cardmember agreement and any subsequent disclosures."

It appears to me that my 2.99% rate goes away then. It may be only for those who take the special deal to get the minimum payment on the account back to 2% ( as it was when I took their money ). I just hope I'm reading the letter wrong.

Lynn Truong's picture


Yes, it only applies to those who take their "optional alternate offer."  This is their optional alternate offer:

  • Change your APR to 7.99 until Jan 1, 2011
  • Lowered minimum payment calculation (basically 2%)
  • After Jan 1, 2011, they'll be able to raise the APR

But if you don't choose this offer, your APR won't change.  This is only good for those who feel too burdened by the 5% minimum payment, since that change wasn't reversed.

Guest's picture

According to an article on WalletPop about a week ago, the New York Attorney General pressured Chase to end the illegal $10 fee and return the charges to the customers.

Guest's picture

I got that letter too, and I couldn't believe that they were trying to charge me 10.00 a month for having their credit card. I did call and complain as I am sure that countless other Chase card holders did that received this letter. It is interesting to hear that the New York Attorney General got involved. Now I can understand why these charges have been reversed.

Guest's picture
LIssette Al

I had a good record on my Chase credit card and suddenly on april they decided that the APR that was 9.99% (not variable as they told me since the begining)changed to a 13.24% in no time. No reasons but that they would change it. So far for nonvariable. In the statement says that if it doesnt have a V beside it it shouldnt change oh well for theyr own rules. Of course as long as its not me getting the benefit out of the change its ok to do so. Oh well now beside the APR rate says V meaning that it can change again anytime and the only thing they've told me is that is either i close it and transfer the balance or i pay it of completely. What good alternatives those are.