Chase Bank in recent years offered credit card holders guaranteed rate loans for as little as 2.99%. These loans were made with standard credit card minimum monthly payments of 2% of the balance. In the last couple months Chase has started notifying cardmembers who took these loans that their minimum montly payment is going from 2% to 5% regardless of their credit standing. The change is also non-negotiable. This is the eqivilent of changing, for instance, a $500 minimum payment into a $1250 minimum payment. People cannot adjust to such huge unexpected changes in their budgets. I expect this is going to make many of their cardholders default on their credit cards. I don't know if the purpose is for them to get out of the credit card business or not but this is going to push a lot of their cardholders into default.