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Chase / chase cancels wamu credit cards

1 United States Review updated:

It took me about 1 minute online to come across countless others whose credit cards Chase had decided, without cause, to close. I received the very same generic letter from Chase on July 29, 2009. It stated the same 3 bogus alleged reasons for their action: Total available credit on bankcards is too low; Too few open accounts with time on file greater than 24 months; Current or history of severe past due or Public Record item. None of these apply to me. I have never been late in payment to them, always paid almost double the minimum payments, and my account was closed in good standing. Isn't that an oxymoron? Yes I think so. I too was instructed by Chase non-customer service to obtain my Experian report which I did. There is nothing on it. In fact it is the very same report as the one upon which the credit card was issued in the first place. How can they legally issue then cancel a card based on the very same report? I too was a WAMU card holder that Chase took over which seems like it may be a contributing factor to many of us receiving this letter, another questionable legal action that warrants further investigation. If you look on the back of the letter you received, at the very bottom of the page you will see the following notation. “WamuClosure1”. This seems rather overwhelming evidence to me that they are targeting Wamu cards. When I asked the customer non-service rep with whom I could speak in management regarding this decision, I was told that the credit dept management did not take customer calls. Really? Well isn't that just a perfect solution to assuming any culpability for your questionable action and oh so very typical. I also inquired as to whether they were certain the action they had taken was legal based upon the recent credit card legislation in Congress. I received a rambling incoherent response to this and was then promptly dismissed. I think it bears mentioning that CHASE RECEIVED $20 BILLION IN GOVERNMENT BAILOUT MONEY. That is our money! We the taxpayers bailed them out and this is how they treat their customers. This is simply not right. Something needs to be done. Their actions should have consequences. We did not bail them out only to have our accounts in good standing cancelled. In the midst of a recession, people wonder why the banks are recording record profits while the economy remains stagnate. Well, the despicable business practice of Chase provides clarity to that answer. Corporate profits above all else and the little guy be damned. Until such time as these mega corporations are prevented from cancelling customers in good standing to better their bottom line the economy will suffer. This was not how the bailout was supposed to work. They know it but unfortunately they also know they can get away with it. If anyone knows of any potential recourse we have against this by all means count me in. Enough is enough.

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  • Su
      10th of Aug, 2009
    0 Votes

    I, too, received a cancellation letter with the same generic reasons you mentioned. I have NEVER been late on a payment and always paid well above the minimum payment due if not paid off in its entire. I am also a previous WaMu cardholder. I am furious that they would treat a good "customer" this way. I am curious as to those that they allowed to remain open and how those cardholders pay their accounts. Do they get hit with over-the-limit charges every month?, late payments?, in other words...are the ones they chose to retain those from whom they can milk extra money?
    I am absolutely livid because I know that when a credit card is closed, it negatively impacts your credit score and I am in the process of purchasing a new home. I have written them a letter and informed them I would be filing a formal complaint with my Congressional representatives, both House and Senate (not that I really expect them to do anything about it), as well as the Consumer Protection Agency, Fair Credit Reporting agency, Better Business Bureau, and US Attorney general. I believe there must be some kind of recourse for the customer who has provided no default that would warrant account closure. It is time for the people of this country to take it back from the overwhelming corporate moguls that care nothing about what is right and just in America. There is much more to life than the ever-loving dollar!!! Integrity is one that I can think of right off the bat. I would also encourage you and everyone else who has been subjected to this warrantless account closure to notify the same. I have also advised them that I would email everyone I know (and I know many as I am a member of several professional organizations) and blog everywhere I can to put the word out that this company is NOT one with whom you want to do business.

    At least I know I am not the only one that this has happened to...unfortunately.

  • Ca
      20th of Aug, 2009
    0 Votes

    Count me in with the same treatment. Heres a new twist. I tried to close my acount because of "the letter" and they put on a high pressure sales presentation to buy credit protection. I refused and the rep changed from very professional and well versed, to down right hateful. Advised me that my credit would be ruined.

  • Ja
      21st of Aug, 2009
    +1 Votes

    My husband and I just received the same letters stating that our chase cards were cancelled-we also were Wamu customers for a lot of years. We always paid way ahead of time, and always more than what was required-never late. Calling customer service was a nightmare-they go so far overboard to be unfriendly.unhelpful and negative-asking for a supervisor got me heavy sighs on the part of the person on line-the supervisor gave me the same general non information. he suggested I mail them a copy of my Experian report for review-what? they are a bank-they can pull my Experian report themselves-as they say that they have and got their information from in the first place. this is an obvious way for Chase to try to lower their debt portfolio by screwing their good customers. They do not care if it means we will have an unfair adverse "ding" on our overall credit rating-one that we all know we work hard to avoid. I hear a whole new meaning when I hear the chase commercials on tv now-Chase what matters-yeah right-I see that they are!
    I intend to get to the bottom of this issue-there will have to be a disclosure by the reporting on Chase-something like-account was closed by issueing agency-they obviously took on way more that they could handle by bailing out Wamu- consumer credit rating not to be penalised for Chase greed and stupidity factor

  • Db
      21st of Aug, 2009
    +1 Votes

    I received a letter from Chase closing one of my two WAMU cards based on "non-use". At the time I had two WAMU cards, one at 8% interest and one at 21%. I use the 8% and pay it a week ahead of time online. I had not charged on the 21% for a year. When they did this on their own it changed my credit usage from 22% to 70%, as the 21% card had a credit limit of $5000 and the 8% had a limit of $2500. As soon as that hit my credit file Chase then reviewed my credit report again (24 days after closing my high interest card) and sent me a letter to say that they were lowering my credit limit to my current balance, hell, now I have a 100% credit usage. My credit score went down from 718 to 681 when they closed the card and then to 640 when it showed a 100% usage. I was never late, always paid ahead, under my limit, and making a consumer decision to use the lower interest card, my reward for being a good WAMU customer, almost a 40 point drop. What happens next, all my accounts look at the drop in score and start changing my limits and interest rate. Thanks CHASE, in less than 60 days I have went from a Good to Excellent Credit rating to Fair to Poor, and all I had to do was make my payments on time. My last car loan was 5.99% in January, now the one last weekend due to my barely fair rating, 11.3%. Nice.

  • Wi
      12th of Sep, 2009
    +1 Votes

    Is there any possibility that all of us who got screwed by Chase when they took over our WaMu cards could file a classaction lawsuit?
    My husband and I went through exactly the same thing as all the posters above. I paid before the payments were due and always paid double what the minimum payment was. We got 'the letter' saying they were closing our accounts from lack of use. I hadn't activated them because last fall scared the he!! out of us and didn't want to accrue anymore credit card balance that had to be paid off. I have made no attempt to contact Chase as I figure it probably wouldn't do any good anyway; I'm rebelling against their criminal practices by paying just $1 over the minimum payment. I figure since they closed the cards the damage to my credit has already been done so paying just a dollar over minimum isn't going to cause any further damage, and I like the idea that it will take at least a couple of years for them to get their blood money -- meanwhile, they have to keep me on their books while making no profit off of me.
    I guess the thing that bothers me the most is that crap on their website that says to call and make arrangements if you're having trouble making the payments -- we all know they lie, but this seems particularly cold and calculating to me especially since it was WE taxpayers that bailed THEM out last fall. I guess if you have the kind of money and power that Jamie Dimon has the customer really doesn't matter.

  • Wr
      27th of Sep, 2009
    0 Votes

    I just published Chase's sustomer realtionship problems with their customers who had good credit but neverless had their cards cancelled. Im one of those good customers. I sent Chase a link to my blog and Im going to mass email it to everyone I can find with a email adress at chase.

  • De
      19th of Oct, 2009
    0 Votes

    I know of a company that can settle this debt down to about half of what you currently owe. Send me an email to

  • Le
      3rd of Nov, 2009
    0 Votes

    I recieved a letter today my card was cancelled due to non use, also a WaMu customer! Not sure how it's gonna affect my credit score ! I had 7, 000 limit with WaMu made all my payments with them on time. Didn't use the card for a while Chase bought them out. And know I feel like I'm gonna get the short end of the stick for being responsible and paying my bills on time and not living beyond my means. I think the attorney general should look in to this, or somebody!

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