Ann Minch To Chase Bank: "Are You Stupid?" (VIDEO)

Ann Minch has a question for Chase Bank after it raised the interest rate on her credit card to 21.24 percent.

"Are you stupid? Chase Bank, are you stupid?"

The 46-year-old Red Bluff, Calif. woman is offended that Chase would dare insult the leader of the YouTube-based "debtors' revolt" movement with such a big rate hike. The Huffington Post first reported on her battle with Bank of America, in which her public refusal to pay off a similar credit card debt resulted in a reduced interest rate. The victory spawned dozens of imitators, media attention, and even the admiration of personal finance guru Suze Orman.

In her latest video, Minch acts the savvy consumer and calls up Chase to reject the rate hike and close down the $3,554 account.

"Does my name sound familiar to you?" asked Minch. "Have you heard of the debtors' revolt?"

The call-taker had not.

Watch:

Comments

[SSDPMountaineer]

02:50 PM on 12/19/2009

BANK CAUGHT CHEATING IN FACEBOOK CHARITY CONTEST
Chase Boycotted After Bank Rigs Its Own Competition

http://www.nytimes.com/2009/12/19/us/19charity.html
http://ssdp.org/documents/Chase-Boycott-Release3.pdf
http://ssdp.org/boycott/

[Harrier]

11:38 AM on 12/08/2009

I have a credit card that I never missed a payment on and keep zero balance. One day I received a phone call from the company asking me if I wanted to raise my limit...I said no. Then they wanted to sell me insurance...I said no. Then they asked if I need any cash...I said no. They then said they wanted to be my primary credit card carrier. I said you are already are. They then asked what would it take for me to put more purchases on my credit card. I said a written contract that if I make regular payments the interest rate will not change and for the company to reduce credit cards late fees to $10 of 10% whatever is lower. Based of my conversation with them, it was clear the goal of the credit card company was to have me build up so much debt that I would have to float more debt and no pay anything off and them they would raise my rates. They all have the same business model and I'm not taking the bait

[MB141]

02:56 PM on 12/07/2009

I don't think Ann Minch comes off very well on You Tube..."do you know who I am?" isn't much of a rallying cry unless you're extremely self-obsessed. However, just like almost everyone here, I'm also getting screwed by my credit card company. Citibank tried to jack my rate up from 19.9% to 29.9% saying that every customer was receiving a "change in terms" due to the cost of business going up. First of all, I pay my card off completely almost every month. Second, the months when I do carry a balance, I still make at least most of my total payment (not just the minimum). After much arguing about it, where even the supervisor I spoke with agreed that I was a very good customer, they offered me 24.9% for the next six months. In a nutshell, they really preferred that I close my account because they just aren't making enough money off of me.

I could have stated the obvious, that I was being completely f**ked by an institution that we the taxpayers had bailed out, but it would have been a waste of time. These banks really are getting away with murder. The only advice I could offer anyone is to NOT close your account no matter what they do, just pay it off and then shop around for another card. The company that wants your business wouldn't treat you like they're trying to rob you!

[eangeles25]

10:13 PM on 12/07/2009

The problem with your advice of paying off the debts you owe is: first, a lot of people are living from paycheck to paycheck and can only afford minimum payment or a couple of bucks more than a minimum payment, and with a new outrageous APR, it'll take them forever to finally free themselves from debt. Secondly, all these corporate banks are all in caohoots with each other! They are all doing these insane APR before getting to a period where they somewhat cannot controll it becuase of the law passed by Congress.

I'm getting to a point, like you, of just paying all my credit cards immediately even with a reprehensible new APR and then stick to the credit card provided by my credit union. I think this is the best advice to everyone. Get yourself (if you can) in any credit union and start using them for your credit card because they have a whole lot lower APR because you are a part of them.

[Wendyef]

10:08 PM on 11/07/2009

I have had several banks in my life, and have been fairly satisfied until Chase. Chase is the most corrupt and unethical bank ever. They rearranged the sequence of my debit transactions to give themselves the most fees. Instead of going by the order of the debit transactions, which should have only caused 1 overdraft, they put the last transaction first, which caused me to have 3 overdrafts. They told me they can do this, that it is their decision on how to put through the transactions and that it does not matter what order they actually came through. Anything they can do to rip people off. They are thieves and they are an example of what is wrong with this country.

[hommie]

12:06 PM on 12/07/2009

That's astonishing when banks rearrange sequences of financial transactions, one summer USbank did the same to me and hit me with over 450 worth of overdraft fees. Biggest crooks i have ever seen i wonder what they tell their children how they make their money.

[BassMonk]

03:40 PM on 12/31/2009

Chase is also famous for laundering money for the Third Reich. Corrupt and unethical they have been for a long time.

[pychicfakes]

09:28 PM on 10/28/2009

Okay I am all for the revolution. However, please don't direct this at the poor people that work in the customer service call centers or the bank tellers. We make NO money 25,000.00 year THAT'S IT. We hear your pain but at the call and banking centers there is nothing that WE CAN DO ABOUT IT!!!! SO STOP CALLING !!! If want to revolt go to the corporate offices and do it there with the cameras rolling get in THERE faces. Calling us will do no good in the long run...

[sloppybear16]

09:04 PM on 10/28/2009

Thats great that people are revolting over usury rates from banks but people seem to be forgetting about the Fed and its continued war against the value of our dollar. credit card rates are a small issue compared to the inflationary policies of the Fed and the reckless deficits pursued by the past two administrations.

[rrrrrddddd]

05:59 PM on 10/28/2009

See http://www.bankonyourself.com/

[jsijason]

05:08 PM on 10/28/2009

"Tell yo friends about me!"

[fitzag]

04:19 PM on 10/28/2009

People should boycott these bank by taking there money out of them and going to smaller banks in the communitys they live in.This is never going to end till people stand together on these issues.
They love to keep us divided because then they can do the what ever the hell they want.
We are responsable by not voting the right people in and letting these people run the country any way they see fitted.
W got congress men and women and senators who let companies though deregulation the rules that kept them under controll and in return they get a kick back from them.They don't get millions from we the people so they don't give a dam what you think about it.
The billionares run this country and own the government and as the saying goes there laughing all the way to the bank.
So 2010 election get out a vote for the third party candiate or someone who has been in for 20 years or more.Need younger and fresh face time to get rid of the old dogs.
In 2012 vote for a differant president if you don't like this one.

[Cryostatic]

02:06 PM on 10/28/2009

I don't see the problem. Chase is being wholly reasonable, here. They're giving the option to have NO increase in rates whatsoever, and in return, the account will be closed to future purchases. When you can obtain $3500 in credit at no cost of interest, I don't see anything to complain about.

They're not even demanding the the credit line be paid off in full, you can continue to pay it off as you normally would. Interest free, which actually means that Chase is eating the losses for processing, ect. No creditor in their right minds would give free credit away at a loss.

Your "debtor's revolt" sounds more like you're mad that you're losing access to build further debt on your interest-free line of credit than righteous anger at being cheated.

[Cryostatic]

01:45 PM on 10/28/2009

Ok, the bank is screwing you over. We get it. Join the club, we have cupcakes.

"Don't you know who I am?"

Just what the world needs. Another Youtube narcissist.

[blackjack19]

04:10 PM on 10/28/2009

Exactly, she sounds like a tool. I think the credit card companies are sleazy, but she's annoying.

[AoC]

01:16 PM on 10/28/2009

I had 2 weeks ago received a letter from a card issuer jumping my interest rate to over 25%. I called to ask about this and was told .paraphrase. "that it is something all banks were doing."

I cancelled the card that moment. I owe a couple of hundred on it but that will be paid off next pay period...

However, the most troubling aspect of this is that I was told by informed people who did this in the past that because I was the one who initiated the cancel that "my" credit report score will drop several points as a result. Yet they can and do cancel accounts at the drop of a hat. I had one company cancel me because I hadnt used their card in 6 months.

These banks r.ape us not once but repeatedly. Most often with the sandy vasoline.

[redraspberry]

02:03 PM on 10/28/2009

Your credit scores is bad if you carry too much debt, or if you have too many cards and don't use them, or if you have had too many cards, now if you cancel because the change the rules. The Credit Score ranking is another banking torture tool.

[slugworth]

03:17 PM on 10/28/2009

Not true. Your credit score is negatively impacted if the bank cancels the line of credit. NOT if you cancel it.

[BassMonk]

03:44 PM on 12/31/2009

When debt-to-credit ratio changes, credit score changes. Cancelling a card usually lowers the ratio, thus lowering the score.

[snowjob]

11:50 AM on 10/28/2009

We quit paying our credit cards a while back. When trying to deal with them, we explained that a lay off happened. The agent told us that we could pay a lower monthly payment. We agreed to $90 a month. So we paid the $90 and on the next statement $75 went to fees and $15 went to the Principal . We have not made another payment. Than we sent this complaint to our States Attorney Generals office. We told her that we thought loan sharking was illegal in this country. She tried to contact the bank 3 times with no responce. So thank you Ann Minch, we will be joining you too.

[Tierra]

08:20 AM on 10/28/2009

I quit paying on my credit cards, and went to a cash economy.

I am challenging Capital One, which raised my interest rate from 6 to 18 and now 30 per cent, unwarranted and unfair. Every single one of my payments were on time, at least the minimum, and usually with paydown.

I am challenging them as a breach of contract, using the doctrine of " good faith " and " unjust enrichment".

I am challenging Capital One to pony up the paperwork, and all the transactions for a forensic audit.

They have already ruined my credit, defamed my character, and tried to steal my money.

Possession is nine-tenths of the law. I quit paying, and we'll see where this goes.

I've HAD ENOUGH, AND I'M NOT GOING TO TAKE IT ANYMORE.

[denbeath]

01:51 PM on 02/23/2010

Good for you! I'm about to do the same for the same reason as you. I never miss a payment, never went over my credit limit yet their actions ruined my credit.

[shivers]

07:32 AM on 10/28/2009

all you "cash is king" jackasses

this isn't about borrowing beyond one's means. this is about an industry that is essentially like the mob.
No other industry can the terms of a written agreement be so blatantly disregarded through change.

It would be like a doctor, midstream, saying "yeah, well, I think I better charge you more because I feel like it. You can certainly walk away if you want and take your unattached arm elsewhere"

dumb dumbs, our government gives these companies loans at zero percent. that is a give away.

[Lemmy]

08:25 AM on 10/28/2009

If you dance with the devil . .

Two fundamental facts about credit cards that even chimps understand: They charge exorbitant rates They can change them at any time. Why did this woman carry a balance on her credit cards? What did she buy? Personal responsibility is fundamental.