I recently received notification that Chase Bank was taking over my VISA account from Washington Mutual and raising my rate all the way up to 26.99% as of March 1, 2009, which is like a default rate. I cancelled the card since I have been a good customer and always been in good standing since I opened my account in 2006 (i.e., never been late and never missed a payment) and didn't understand why they would raise my rate to such a high percentage. I haven't used the card since before I cancelled it and was under the available balance... read full review »