Recently a customer of Chase wrote to me with concerns about what is happening on his credit card.  He had transferred a balance to a Chase credit card with a rate that was fixed for the life of the loan.  Recently, however, Chase started charging him a mandatory monthly “Account Services” fee.

After reading this letter, I am disturbed by the fact that people are now being assessed an additional monthly fee by Chase even though they were originally promised an unchanging rate contingent upon their behavior as a responsible borrower.