JPMorgan Chase review: credit card account closed without notice 17

CHASE JUST DID THIS TO ME. I RECENTLY PAID OFF A LARGE BALANCE AND WILL BE PAYING IT IN FULL BY THE END OF THIS MONTH. I WAS NEVER WARNED OR NOTIFIED OF THIS. I HAVE HAD THE CARD FOR SEVERAL MONTHS. MY LIFE INSURANCE PREMIUM, WEIGHT WATCHERS PASS AND MOM'S FOOT CARE COSTS ARE DEBITED FROM THIS ACCOUNT. THERE REASON WAS IT DECIDED I DID NOT QUALIFY FOR THE LINE OF CREDIT GIVEN TO ME. I FOUND OUT ABOUT THE CANCELLATION WHEN I TRIED TO ORDER A MOVIE ONLINE AND WAS TOLD MY CARD WAS DECLINED. I WROTE TO THEM TO TELL THEM OF MY DISGUST. IF THERE IS A SOLICITOR OUT THERE WHO WOULD LIKE TO COMMENCE A CLASS ACTION AGAINST CHASE, PLEASE HELP US ALL.

Am I kidding? Uh...no.

When did it become your right to be given credit? You sound as if your constitutional rights as an American citizen are being infringed upon. Gimme a break!

Like I said before I understand the frustration, but to get "mad as hell" will do no good. Bank bailouts aside, if Chase continues to upset and alinate customers, they will eventually be out of business. My main beef is with those wanting to leverage the legal system for obvious financial gain.

Again, I experienced the same situation. I was with Providian, then WAMU, and then not long after Chase took over they closed my account. You know what I did? I applied and received another card from another bank with a HIGHER balance. The irony is that my credit score will actually go up after all this.

All I'm saying is don't be offended. Take the action that will maintain your good standing and move forward. It's possible.

Take care!

How were we wronged?, are you kidding? Chase closing my account impacts my credit score which will directly affect my way of living in this society. Almost EVERTHING we do in this society depends on this score, did anyone have a say in the fairness of this score? Or even why it exist? I doubt that. It is so unfair what these banks are doing. They decide how and when to change the rules with no concern of how it will affect the consumers. Chase closed my old WAMU account also. I had a zero balance. Never late and only have 2 other accounts (car and student loan), all paid on time and still Chase closed my account. So yes I "live within my means", but that does not matter, you still end up getting burned by these big companies. They decide to change the rules or make new ones and don't tell us about it, then they tell us we have lost the game because we didn’t follow thier rules. Yes I'm mad as hell and I believe if everyone got fed up enough we can begin to make rules that make sense.

"I have been working very hard to make/maitain a good score and this certainly won't help. I do realize that credit lines are "borrowed money" as stated by another poster. However, when everything is tied to your credit score, you cannot afford to have some credit card company stiffing you on a whim and negatively affecting your score."

This is excellent that you have worked hard to maintain a good credit score. Then this should not be a problem when you apply for another card with another bank to re-up your balance to limit ratio.

Honestly, the only action I find upsetting (perhaps just smarmy) are Chase's attempts to explain why these accounts are being closed. I also found those reasons to be quite disingenuous.

However, this talk of wanting to be involved in a class action law suit is part of the reason we are all in this mess to begin with. It's frivolous.

How were we wronged? The company that provided us a line of credit - of which we all willingly filled out and signed an application and contract to obtain - took it away per the terms and conditions of said contract.

What Chase did may seem frustrating, especially when you've kept your account in good standing, but it is their right as a company to do what they did.

People, these are the times in which we live. Instead of getting mad and threatening to sue a bank over borrowed money, how about we all tighten our boot straps, live within our means, and be thankful for our family, our friends, and our health.

Same Here. At least I got a letter. Mine was a Providian credit card I had for a long time, then WAMU, then Chase. Customer service was snide and of no help when I called. No late payments, and card was being paid down. I had just received new card in mail. I didn't use the card alot, but sometimes. I suspected I wasn't the only one.
Spoke with my bank who said they would let me call from their phone but, "It wouldn't do any good."
Brought up I had several accounts with now Chase Bank that I am considering closing. Response was, "You could take your money to Well Fargo or B of A if you want, they are close by."
In the end I suppose it's just as well. I'm not sure what this all means to my credit score or what they might do next. Maybe they'll start closing bank accounts, since they can get much more money from the government than the "chump change" they get from us.
Any way we can get rid of Chase and get WAMU back?

Same thing happened to me the other month. I've been paying my bills on time and increases my score- but the once owned Washington Mutual Card, now Chase, closed on me out of the blue. I spoke to a representative about another issue that was not related one day and they said nothing to me about it being closed- the next day when I called back they told me it was closed. Chase is horrible.

They did the same thing to me on all three accounts (two WaMu accounts) and one original chase account. All good standing, over minimum payments, never late, etc. Just closed - all of them within a span of several months. What I find interesting that the letters all state completely different reasons - most of which make no sense or is flatly incorrect.

I have been working very hard to make/maitain a good score and this certainly won't help. I do realize that credit lines are "borrowed money" as stated by another poster. However, when everything is tied to your credit score, you cannot afford to have some credit card company stiffing you on a whim and negatively affecting your score.

I am definately interested in any class action suit. Please let me know if and when one is filed.

The same thing happened to me. I think they are targeting the Washington Mutual accounts. What can we do? I hope there is a lawsuit because they can count me in! I know they have the right to close any account but for the lame-### reason that they give, I don't think so! This is ridiculous! Lawyers we need you.

This looks like Chase's common business pratice. I got the same letter saying that they had closed my account dueto "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 somem justice.

Same thing happened to me. I was upset at first but realized that - bottom line - this is borrowed money. I understand being upset when you attempt to purchase something and you are declined, but beyond that, we all have to learn to live within our means. Perhaps this is a blessing in disguise for a lot of credit card customers that are/were overextended. And if you are concerned with your fico score being reduced, just apply for another card with a local bank or credit union. This really is not the end of the world. Good luck all!

Steve

I just got off the phone with Chase and the credit bureau because I received a letter closing my account today in the mail. I have never been late and have been paying several hundred dollars a month to get the balance down and am appalled that they could give me no reason as to why they chose to take the action of closing the account. I was given an 800 number to call and ended up speaking to someone that was unable to access the information that I requested and was told to contact the credit bureau and was hung up on by the employee. I am located in Maryland and would like to know if there is anyone else that knows of any other next steps that can be taken. I did see a previous post about a class action suit being filed and would like to be involved in any action taken. I am angry that this will now have an possible adverse effect on my credit and I have been a long time account holder in good standing. It is not fair that Chase is able to simply of its own discretion do this!

Pretty much the same here as well. Previous WaMu customer, never a late payment on any of my credit cards, always paid more than the minimum. Haven't carried a balance on the Chase (WaMu) since Jan when it was paid in full then used the card one time and immediately paid it off. Used the card this month for an emergency (father-in-law terminally ill, stage IV pancreatic cancer) and went out of state to see him. Now less than 3 weeks later the account was closed without notice. Found this out when trying to make a small purchase and the card was declined. My online account still shows available credit, so I called and was told they continually monitor your credit and if they don't like what they see they close your account. I really don't understand why they do this to people that always pay their bills on time. They also said they sent a letter a couple weeks ago, which still hasn't turned up. I did receive a notice last week about interest rates increasing in Oct!, but no letter mentioning my account being closed.

Is this only happening to previous WaMu customers or are original Chase customers seeing this happen as well?

Samething happen to me never late and payments made every month. Had two Washington Mutual cards
Closed both without notice. Chase raised my rates on both cards and two months later they were closed. I had plenty of cushion on both cards not over or near the limit. Called Chase and it's like talking to robots. If ever there's any class action lawsuit I would be front and center.

My story is pretty much the same and what I find the most frustrating is that you can complain but your voice is not heard. The people who make the decisions are unreachable. Who are they? How do you get your voice heard? I would love to have a one on one conversation with the CEO, which will never happen.

I'm personally going to a Chase bank and handing them my torn up credit cards along with their letter stating they closed the account. Wouldn't it be great if all of us did that?

I have had enough of these financial institutions getting away with these unfair practices. The credit card bill that was recently just passed does not do enough for the consumer.

EX-CUSTOMERS of CHASE (aka WAMU) lets unite and flood the Chase offices with our SHREDDED CREDIT CARDS and LETTERS!

I too just discovered that they have closed my account. The best is, I had no balance for months, took a cash advance and after it gets a balance they close it. I sure hope I can afford to pay this company who had its hand out from the gov't, hires off-shore call centers when Americans are at near double digits in unemployment. At this point, with the damage long-term this may do to my credit, since it will show as a negative considering this was an 8 year old account, with good payment history, I just love where they have left me and apparently from reading here, others. I hope they fold and go under somehow. Time to go to a credit consultant like the rest of America. You pay your bills and they stick you in the back anyway.

Chase did this to me about a week ago as well! I originally had a good Washington Mutual card, which I had for a long time previous to Chase buying the account. I kept it in excellent standing and almost always paid in full each month. I had an authorized user on my credit account that went to make a 20 dollar purchase and had it declined. I called Chase only to have them tell me it was closed due to information on my credit report. I quickly pulled my credit report and could not find any negative information, I have been working hard to pay down a large balance on another card, and rarely using any credit. I spoke to 3 different people, 2 of which hung up on me at Chase. This is awful! Chase was earning interest off of me as well, and I never had a late payment and I always paid much more than the minimum if not the entire balance each month. I think this company is shooting itself in the foot closing out accounts that are only earning the company money. It truly disgusts me that there is really nothing I can do about this . . or so it seems.

I just got my letter and see you just posted this. I'm waiting for a copy of my credit report, but they just did the same to me. I've been very loyal for about 4 years now. My credit was just improving which it sounds like yours was too, but what is the use of a credit card with a limit if you can't use it and when you do, they close it? I'm so furious and I feel like I have no control over this. The excuses are so generic. I am in the same boat as you.