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Chase Credit Cards / poor business practices

1 United States Review updated:

I paid off one Chase card that I had had since it was a Washington Mutual. Everything was okay for another billing cycle, in which I paid the balance in full again. The next month, I tried to charge $3.41 on a card with $3000.00 credit limit and the transaction declined. I called Chase Card services after looking at my forcoming statement online. The "no-customer" service department told me that due to reviewing my credit report, they chose to close my account. The funny thing is, first, I still have two more credit card accounts with small balances that they left open. Why would a company, if the deciding factor was something on my credit report, close the account that I just paid off and leave two more accounts, of which I carried a small balance, open. Secondly, their reasoning makes no sense as the month before, my Citibank card just, out of the blue, dropped my interest rate by 5 points. I told the representative that I would pay off my other two accounts and that I would never do any type of business with Chase again on any level. If enough of us choose to do that, the will fail and maybe this time, OUR governing body will see fit to let a company with such poor business practices, fail.

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Comments

  • No
      18th of Jul, 2009
    0 Votes

    I just had a similar experience where Chase closed my account without notifying me & I only found out when I went to make a purchase with the card. The customer service rep was useless and curt, cutting me off when I went to interject about not being notified and how that's unfair!

  • Pe
      23rd of Jul, 2009
    0 Votes

    chase has done nothing but screw me for the past year. Last fall I got slow at work and had to use 2 of my chase cards, only using about 45% on both of them. Well now they are halfway paid off and now they upped the apr and are trying to close the one account on me

  • Bo
      7th of Aug, 2009
    0 Votes

    This looks like Chase's common business pratice. I did get a letter saying that they had closed my account due to "too few accounts paid as agreed". I went into panic mode thinking my identity had been stolen and pulled my Esperian credit report. The report showed 24 accounts in my nine year history, all paid as agreed. My credit score had actually increased 20 points over the previous month.

    I thought it was a mistake so I called Chase and the anti-christ of customer service told me that no, it wasn't a mistake...your account has been closed for the reason shown in the letter. I advised him that I had checked my credit report and there were no accounts "not paid as agreed" and he said that "wasn't what they meant". I asked what exactly did they mean and he couldn't answer it so he just said your account is closed because that's what we want to do.

    I asked him about the $25 billion dollars in public bailout money they took that was supposed to help them extend credit and he said "we've paid that money back so we can do whatever we want to now". So much for their integrity.

    Since your credit score is tied to your rates on other cards, your car insurance premiums, home owners premiums, ability to get decent rates on any type of finanacing and even your ability to get a job, I would have to say that Chase has caused irreputable damage to each and every customer that's had their account closed for no reason. Since it looks like it's thousands of accounts, if you lumped the damages together, I'm certain it would be in the ten's of millions of dollars. Chase should be held accountable.

    I know for a fact that I'm going to take a hit on my credit score just because they closed this account, even though it was in good standing. I won't know how bad until next month so until then I'll just be stressed over it. Does that amount to pain and suffering? How much is that worth?

    I'm not a lawyer, but I'm pissed and those are my thoughts. I hope a good law firm does take this on and gets us some justice.

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