Why it is important to treat Chase Bank Customer Service Nicely. What to put in your OPT OUT, Aribitration Request Letter.

There is little to be gained by being mean to a Chase Bank customer service rep. All you do is make them feel grateful they have an employer with so many mean people out there.

The fact that the meaness is a direct result of their bosses is a point that can be conveniently forgotten in times of stress. Ask friendly questions of your Chase Bank interrogators.

Keep in mind that Chase Bank interrogators have been told that the reason the monthly minimum payment has been increased from 2% to 5% is to "help" you pay down your debts. It is very important that you say the following when you are told this.

"What you say is only true if my other debts are at a lower interest rate than my debt with you. Unfortunately, that is not the case. So paying down my debt with you faster than my other debts is actually costing me money every month."

If your board of directors doesn't understand such a basic mathematical principal, maybe they should resign. Can you pass that message on, please?

Additionally, if you are a designated Chase Bank victim who is supposed to come up with a lot more money starting with your August Bill, I recommend demanding arbitration. In the arbitration letter, state that changing terms prior to the arbitration hearing is most likely illegal.

Chase Bank's point that they are helping their customers pay down their debt faster is a LIE if you have other debt at higher interest rates.

(Edit Update - July 17, 2009 - I have added new material below to make this article more well rounded.)

If Chase Bank is using mistaken reasoning for raising the monthly minimum payment, it shows cause for the arbitrator to side with you. Additionally, the Right to OPT OUT is normally given 99% of the time by ALL CREDIT CARD COMPANIES.

Request the arbitrator to either reject Chase Bank's change it terms because their "reduce your debt quicker reasoning" is wrong if you have other debt at higher interest rates.

Also, remind the arbitrator that the most reasonable solutin is to allow customers the right to opt out of the change in terms that Chase Bank is attempting to institute. If Chase Bank refuses to offer OPT OUT, the the arbitrator should rule on your behalf.

The arbitrator can rule against Chase Bank because Chase Bank did not allow the consumer the right to opt out, or because Chase Bank used faulty reasoning in coming up with their decision to raise the monthly minimum payment.

Finally, Chase Bank cannot argue they will lose too much money as other, more friendly proposals exist. Show the arbitrator that Chase Bank should not win when they came up with a very inflexible proposal.

If the arbitrator will listen, offer a counter proposal, such as a six month window for customers to pay down their debt at the 2% monthly minimum payment, or more if they can afford it, then Chase Bank can "lock in" that new 2% monthly minimum payment amount month after month.

The end result is NOBODY will get a raise in their monthly minimum payment, however Chase will get paid off quicker. It's pretty much a win win all the way around, with both sides giving up something and gaining as well. Virtually no consumer is saying the present payment is too much, they are saying the NEW 150% increase in the monthly minimum payment is undoable.

HOW YOU CAN HELP! MAKE A DAILY-PROTEST.com sign and put it where others will see it. Daily-Protest.com signs can be placed in a storefront window, a bulletin board at work, or a countertop. Raise curiosity and awareness about how Chase Bank is harming a LOT of of their BEST customers by making a Daily-Protest.com sign.