Long post but worth reading!!!
********* "wamu closure1" look at your chase account closing notification letter in the bottom left corner.*********
If your notice says this or your a former wamu holder you are not alone- if anything you have a ton of people who have your back and lets all hope that there are enough people who will not just say "oh-well" and walk away. I'm not going anywhere til they are exposed! After reading my story you will see why. I originaly had a cc with providian in 04' with a limit of $3, 000 and 18% interest, then wamu took over and with out my request increased my limit to 1/2 my yearly income (Full time student/ part time nanny) to $7, 000 with 18% interest. Wow right? It gets crazier...
The sad thing is that they knew i'd pay it, even if i got it up that high i always paid it in full or more than the monthly payment. I have never missed a payment and have looked back to 04' to see that i have always paid 2x's the amount due each month. I was their number one customer! Like other college students my cc became my other income. I used my card for groceries, textbooks, car repairs and larger purchases that i did not have the cash for. I lived on borrowed money (A big no no from suze!) i am 28 years old. I graduate in 2010 with an associates degree in criminal justice and a masters forensic psychology. I will be getting married n 2010 as well. I have no other debt!! I was very lucky to have scholarships, grants and a grandpa who in 1976 started a college fund for his future grand kids. There's just me and my older brother- no cousins. My bro is very talented with music, he plays the turntables at events and is a bartender for his income (Which in wisconsin is better than what many graduates receive for the first few years). He is so happy where he is at in life, he doesn't have much to worry about. But me i am in a big scary mess! My parents have good jobs, are close to retirement and recently paid off their mortgage. Now here's the jaw dropper-
Wamu increased my limit to $10, 053 and interest went up to 21%- crazy huh? Just wait there's more. So i kept spending and even purchased more. I was a college student with little income, no debt, and a job that paid $15, 000. But i was a perfect target because i always paid them, had large balances, paid the large balances off, kept living on the card and put up with the hikes despite not asking for the limit increase. Then chase comes along leaves my limit at $10, 053 but the interest shot up to 32%! Now i'm confused? I only make $15, 000! And have maybe $6, 000 in savings. But it didn't matter much to me at the time because i only saw this as an advanced-income assistance opportunity. I received a letter 2 weeks ago from chase stating they were closing my acct as of 8/25 and listed 3 principal reasons as to why they would close a customers acct (Balances are too high compared to credit limits, available credit to low, past due history or current past due). So which one am i? I have taken the card balance close to the limit about 4 times but have paid it off (2x's in-full) til it went to zero each time. I am a good customer, in good standing and have been there puppet since 2004. I received a suze orman book from my 90 year-old grandma for christmas. The lady has been through the economic depression once and now it's a threat to her again. So i read the book and took some control over my spending, made some smart choices and my credit score went from 686 to 718! Thanks grandma and suze! But i can't thank myself i have now found myself in the worst place-
My account was closed with a balance of $9, 600! Don't feel sorry for me though, i have learned my lesson the hard way. I had to tell my family what has been going on (I was busted!) and then i had to see disappointment come from my grandma's eyes. The women will sew old socks into her underwear when the lining gets too thin. She freezes all of her food and eats it even if it's been frozen for years. She rarely buys clothing and christmas gifts are simple things that i treasure. She has a very nice house and drives a lexus- she says that she earned those with her "farming" hands. She pinches pennies every where she goes. She has saved enough money to support the average person for 10 years. But even when she needs to pay for major house repairs, medications, surgery or her new forestry project- she cuts corners like no other. Some call her cheap. I call her smart- i just wished i would have picked up on her reasons sooner.
Now like you i have had my acct closed for no clear justifiable reason, my credit score will drop, and i still owe. I will pay the card off tomorrow. My credit union advised me to try and bs my way through the cc company so that they don't close the account. I am supposed to say words like "i would hate to lose you as my cc company, i have been so satisfied with your services, " "i have had the opportunity to get another cc with the same limit but with 1/2 the interest and i turned them down because i am a loyal customer, " and the final part is to tell them that i will pay the full balance and that i had no idea that it was a problem for them that i had this outstanding balance and apologize. Next with my fingers crossed i would ask to speak with their supervisor- someone who is in the united states- not a customer service rep in a different country- repeat my words and ask that they not close the acct. If they agree then i will get that in writing and when i do i will pay the card off- photocopy the card for file purpose-take it to my credit union and have them shred and dispose of it! I have read about 9 other blogs where people had to bs the company and it worked for them. Unfortunately anyone who is a former wamu customer going through this is still left feeling burned by wamu and chase.
To those of you who work hard everyday to pay bills and are good people- i must say to you that i am sorry for what you are going through right now, i do not have kids or own a house, i am a student and my responsibilities are not up to your level yet so i can only imagine how hard this is. But i was advised by my credit union to file a report to the state of wisconsin consumer agriculture and trade office and also write members of congress. I will do that because the "squeaky wheel gets the oil" and the more noise former wamu customers make the better. Chase obviously does not want to keep the burden of having former wamu cardholders as customers but we will be an even more burden to them when this is brought into light by the media and hopefully the government- i will even settle for a little class-action law suit. People work hard for their money to live not to suffer!!! Good luck to anyone who is reading this.
My two accounts with Washington Mutual were acquired by Chase Bank. I have never made late payments, overdrawn or deferred any payments. Since Chase took over the account, they have increased my rates and closed both my accounts. Trying to talk with someone regarding the matter is all but impossable. Since my accounts were closed I recieved a notice that one account @ 10.24 would be increased to @16.5. All this activity by Chase is obviously a means to an end which is to increase rates overall to the 18-22% as dictated by their CEO and do so prior to the full iumplemetation of the new regulations passed by Congress. I'll take aminute to thank the Congress for giving the banks, including Chase "our" money at !-1.5% in order to keep credit flowing. What they've done is take the money, close accounts in good standing and turn aroiund and impose higher interest rates all around while making credit even more difficult to obtain. The question is, who is sleeping with who? I invite anyone that has expereinced a similiar situation to e-mal me and perhaps as a group we can join in a class action to halt these unethical and predatory lending prractices once and for all. One other thing, I also invite you to notify Chase you no longer accept the terms of their one-sided "contracts", skip a paymnet, do not ppay or accept any late fees, or rates imposed by them.. If they borrowed your money via the Treasury Dept. to give it to you at over a 1000% subject to the availabity of your credit limit, once the availablity ceases, it seems to me, so does the rates. [protected]@aol.com
My name is James L. Hammonds, here is the thing I never use or sign up for your company not saying that thi...
I had a loan through Chase Home Finance that I had set up automatic payments through their online access. I recently sold this home and paid off the mortgage in full (7/29/09). That evening, I looked at my Chase online access, and I was not able to access the account anymore to check and make sure everything was stopped. Unfortunately, I assumed that that meant all had been taken care of. On 8/4/09, I received an automatic email from my bank that another mortgage payment had been drafted from my account. I immediately called Chase and they assured me that they could put the payment directly back into my bank account within 3 days. On the third day, I called and the story had changed to "we're very sorry for the inconvenience, but we can no longer access this account since it is closed...you'll receive the money within 21 days of your closing date." Oh, and after being hung up on a few times (I was on a land line) and being transferred back and forth between departments for a total of 5+ hrs, they offered to overnight the check when it was released in order to expedite it. I also told them that the address they had on file was wrong and gave them the new one, but they still Fed-ex'd the check to my old address. I received the check today, and it was still short that mortgage payment (it was only the amount that they had confirmed was an escrow refund). I called to get information, spoke with a "Mary" who was unable to connect me with a supervisor because s/he was busy on the phone with other clients (however, she was able to seek advice from this supervisor when she placed me on hold). I told her that I would wait for her supervisor, and she put me on hold, but then I was abruptly disconnected after she confirmed that I would like to wait longer (again, from a land line). I called back and the department was closed for the day.
Recently I received an email from Chase Bank. It content the url stating that they have good offers for investing in companies were we could earn more in the form of interest. Ok, it reminds me that the email was commonly send. so it must be true only. Later, I fill all the information needed in the form that url provided and submitted it. Some days later I started receiving calls from unknown person saying himself manager of the Chase Bank asking me to subscribe for their various schemes. After saying no for several time I talk to someone from Chase Bank directly to get information regarding te email, but no help I got from there call center. I would only say that if Chase Bank wants to save its bank from being bankrupt should stop such activities or either look into the matter to help out their customers to gain their trust.
CHASE online payment requires 24-48hrs to process a payment to a vendor, but when the payment is made to the...
In june 2009 I paid off my chase visa. I only keep it for the marriott rewards points, and pay it off each month. I didn't receive a statement in july, but I didn't think that was strange since I had paid off the balance. Two days ago I received a bill saying $8.71 was past due, and I also owed the $39 late fee! I had never been late with a payment, so I figured one call would get the $39 credited back to my account. I dealt with an imbecile named (Supposedly) porsche, who took the information and told me to hold on. Then she just laid the phone down and I listened to the entire conversation. She joked with others about how I claimed i'd never received the bill, etc., and everyone laughed. Then someone asked, "well, have you checked her record? Has she ever been late before?" porsche said yes, she'd checked it and I hadn't ever been late. The other voice suggested she credit me the money and she said "no way!" and kept laughing. When she picked the phone back up, I told her what I had heard and said i'd like to speak to a supervisor. She refused and told me to write to kelly manick in ohio. I googled him and that's how I got to this board. I called back and spoke to yet another idiot who I finally hung up on. I am paying this total bill and then calling to cancel the card. I wonder if they'll be begging then? I urge everyone to get rid of everything with chase in the name!
After paying all payments on time and paying 4-5X the minimum required, I just received notice that my Chase Credit Card accounts have been closed for some pretty flimsy reasons:
1. Number of bankcards opened has grown too fast.
This is an ambigious statement. What is grown to fast ??????
I have 2 credit cards, one opened in Feb 08 and one opened in Nov 08. Obviously my credit was good enough to open the accounts?????!!!
2. Average length of time since bankcard opening is to short.
Another ambigious statement. One card has been
open for 18 months and one card has been open for 9 months. What does the length of time the card is opened have to do with anything????? If this is how you evaluate a person s credit worthiness then you would have to close
every account that was opened...because when the card is opened the length of time will ALWAYS BEGIN SHORT...Duhhhh
3. Total available credit on bankcards is to low.
This is a LIE! Total Fabrication!!
I have one card with a $2, 000 credit limit and a balance of $290.
The second card has a $2, 000 credit limit and a balance of $1, 165. The second card has a higher balance because I was offered a 0% rate for 12-months and I used the offer to pay for my deck. I have 6 months left at 0% and planned to have it paid off by the end of these terms. I have never added anything additional to this card.
If this is how Chase treats a GOOD customer I have no use for this bank. I should mention that all of my other credit accounts are in good standing and all I have no negatives on my credit reports. This bank is a Rip-Off!!
Chase failed to conduct an adequate investigation after I disputed a fraudulent charge. They reinstated the charge before they had received the Affirmation of Fraud they required me to complete. Their denial letter offered no explanation as to how/why they had determined the charge was legitimate. There is no question the charge was fraudulent. Chase will not respond to my repeated requests to have this reviewed. I am being regularly contacted by Chase's collections department, who are uninterested in my dispute and unwilling to help get the issue addressed.
Chase Mortgage Co. has completely botched up my refinance. This company will not get back to you, will treat you like a #, will take for ever to complete any transactions and still will not get the job done. After 5 months of trying to put a refi together I have finally had to give up. My credit is great, i'm employed and have a huge amount of equity in my home. For five months there was problem after problem with Chase trying to get this refi done. Anyone looking to refi should not use Chase; just another big bank that doesn't care about you.
I Started a refinance on April 10, 2009 was told I pre qualified, and was then told I needed to pay 750.00...
I made purchases on May 17 for 543 dollars at toyrus. I opened this account because they would give me 10% off, plus 0 percent interest and no payment for 6 months. I mailed a check for 543 dollars on July 1st. They are saying that they recieved it on 4th of July, dont know how and since payments were due on July 2nd, they charged me a late fee of 39 dollars on July 3rd. I assumed my account was paid in full. I got a statement today, 08/12 saying that I am late again so they charged me a late fee. Late fee and interest on their Late fee. When I called them, and asked about te promotion, they said that only purchases over 199 qualifies. Well, mine was for 543 dollars but they say that toyrus charged 2 seperate times, one for 399 and one for 145. I don't know why they did this but I had no idea or info about it. Anyhow, they refuse to waive the late fees and they talk to you in a disrespectful manner. I spoke with a lady named Crystal. Extremly rude. It took her 30 min to agree to transfer me to the supervisor. All she would say is that I am your account manager and I am handling this. Finally another lady got on the phone, same attitude. Probably was not even the manager. They refused to give me any info about any dept or agency where I can file a complaint. You can complain at helpwithmybank.gov. I am closing my account and paying the late fees. This is why the banking industry is in trouble. Its best to do business with small banks in your hometown.
Lynda m ruiz and tony r ruiz
Wildomar ca 92595
Chase bank aka jp morgan chase & co. aka chase bank usa, n. a.
Wilmington de [protected]
Shame on you for canceling our cards without prior notice, but we expected no more from an impersonal, despicable big bank’s takeover of our nice, small town type bank we found in washington mutual. we’ve been expecting and waiting for something like this low-life action. and as to the lack of notice, what if we’d been in a position to need the card yesterday?! I found out by trying to set up a computer software trial when the card wouldn’t go through. and as if you cared, what if we were traveling, depending on this card for food, hotel and other services? what’s next, our checking accounts? in spite of our good management, it wouldn’t surprise us at all. I doubt any of you bank monsters have any concerns for individuals, so we’ll manage without your stinking credit cards. we were loyal customers of wamu but not you high rollers. you are part of what’s wrong with this country. you are bums, a disservice to this country and we’d like you out of our state.
What part of “don’t use any more credit than you have to” don’t you understand? and, what part of paying off your credit card each month instead of letting your abysmal interest pile up money for you don’t you understand. it’s chase vs their customers except for the high rollers.
And as far as sticking your nose into our credit reports, that is a tactic more recently being used by you impersonal machines to use against and inconvenience us. the one item on our credit report is a human condition, are disputing this and believe it to be the unjust charge we are going to prevail on, but again your impersonal nazi-style actions prevail.
And what happened to the nice mc who does your commercials? more crap of course from a company whose record is already exactly that…crap. it’s your record that is found lacking. have you bothered to see the long list of complaints on the internet? like a bank of america founder’s granddaughter is disgusted with what her bank has become, so it goes with you, but doubt you’ve ever been anything but another self-serving financial institution who doesn’t deserve decent people’s business.
And you think this is over? we’re going to put the word out about how you too are one of the bad guys. i’m thinking we should be able to make an indelible impression of what most americans today suspect is the case. your and your lot should be run out of business. an economy like this where so many are suffering trying to keep their heads above water and here come the evil landlords. that would be your ilk.
Tony and lynda ruiz
Cc: president obama
ca attorney general jerry brown
bill o’reilly, fox news
los angeles times
ombudsmen at large
I have applied to Obama's loan modification plan for my owner-occupied and my primary residence in May...
My CD is up today and I happen to be on vacation out of the country... I have many CD's and never a problem closing them even while on vacation. Well today after 2 hours of calls and lots of people (not toll-free) I am told they could close my account and send me MY money only if I answer questions from a list of questions from the public record. Well during the call I was cut of and had to call yet again. This time I was told I was blocked from closing my account because I failed to answer the questions...even though they cut the call. I could send (not fax, like all other banks I have had in the past)a letter explaining what I wanted to do with my CD...but I had to get it notarized. I told them I was in the Netherlands on vacation and could not get it notarized. This was after going up three levels of people. Once your blocked for ANY reason you could not try again until after 7 days...and low and behold you only have a 7 day grace period after your CD matured. (most banks are 10 days) So that was not an option. In any country that is called STEALING. Isn't it strange that for the 5 year period of my CD at 4.5% the rollover is now 1%. Who in the hell are watching these crocked bankers????? I got to have it rolled over for a month and the questions they say will be unblocked by then and I can try it all again. I even want the money transferred to the bank they have sent a monthly interest check for 5 years. This was just done today, but I have a feeling this will not be done (they truly are idiots on the phone) and I will have a 5 year CD paying 1% interest. Its like your not talking to a live person...I have never seen a bank so deceitful...When this is all over I will never step foot in a WaMu/chase bank...EVER!
Omg! Chase is the most awful company to ever do business with. I have had a loan with them since 2006 always paid on time. Fell behind 2 weeks they started calling me. I spoke to the agent who was so rude and nasty - he was condescending suggested I borrow the money, post date a check etc... I had to hang up to try to get someone else! I called back to inform them that I would make a payment within the next two weeks before my car note became 30 days late. My car note is due on the 10th of every month. I received a letter from them on 8-3 reminding me of my payment and a late fee. I mailed my payment in on 8-4.
On 8-8 I heard a heavy handed knock on my door.. It was one of their "investigators" to verify if I lived at the address provided and if the auto was on my property! I almost lost it! I told them to leave or I was calling the police to make them! The payment was not even 30 days late! Hateful awful people run this comapny is ungrateful.. Never do business with them.
They are the worst company ever!
I have owned at least 5 cars and never gone through this!!! Do not do business with them ever!
They should be on an expose for how awful they treat their customers!
August 7, 2009 Chase is my current lender on my home. In March of this year, I contacted Chase, regarding...
We're customers of WaMu and loved the bank; never had any problems with them.
Now we were moved to Chase but we're looking for another bank because the service we're getting from Chase is terrible.
Credit Cards: I've had a credit card with Chase for several years. Recently, when checking over my online accounts, I was stunned to see they'd lowered my credit limit by $5000.00!! Needless to say, this made the balance I was carrying reflect a much higher percentage of debt/credit ratio. (There go some points off my credit score.) And they didn't even have the courtesy to send me written notification of the reduction!!
Accounting Practices: Since Chase has now merged the WaMu checking/savings accounts (TX), our online statement has had so many mistakes that I have to check it daily. There are debits which reflect incorrect amounts and there are some debits that post properly but then disappear from my statement for several days. When I tried to call Customer Service, I was routed to an overseas Rep who was obviously reading from a script. Not only could he not understand my questions, but his accent forced me to ask him to repeat everything numerous times. When I went to our local branch, the Rep said "sorry", but "all the discrepancies are occurring because of the computer switchover. And, they're working to get them straightened out." Meanwhile, she also told me if I noticed any more debits that post and then disappear, I'm supposed to be sure to keep enough money in the account to cover them. (Yes, I'm supposed to keep track of my account balance during THEIR screwed up computer switch!! And, let me tell you, it's getting old to have to check every transaction; look for postings which have temporarily dropped off; and maintain an accurate balance.
So, if anyone out there is a former WaMu customer in TX whose checking/savings information has just merged with Chase, you may want to monitor your account for discrepancies. Good luck.
I have been a loyal Washington Mutual customer for over 15 years. When they were bought out by JP Morgan Chase, I knew that there would be changes to their policies and procedures, but was resolved to not change banks because of the overall hassle involved. However, due to the policies Chase has enacted with both my bank accounts and my credit card, I am more than willing to deal with the inconvenience of moving my money and my credit to another bank, if only to make a statement about how horrible this company is to work with.
My boyfriend and I have 6 bank accounts with Wamu/Chase and have always kept them in good standing. Once Chase took over, they want to charge fees for us to download our transactions into Quicken. I find this ridiculous -- Chase already takes our money, loans it out to other customers and makes quite a bit of interest off of it and now they want to charge us $10 an account to simply download our transactions? It requires very little of the bank's involvement for this to be possible -- the greed here is astounding. So we're now pulling our fairly sizable accounts from Chase and moving those to a local credit union.
Now to my credit card. I use my credit card quite liberally and again, I have had my credit card with WaMu for years. I've never missed a payment, have never been more than one or two days late with a payment and have had my credit limit continually raised because I've been such a good customer. I used to pay my credit card off completely every month, but this last year I have needed to have more cash on hand for a remodeling project, so have been making a payment (well above the minimum payment due) every month.
I was making my payment online in July and noticed that my credit limit was about $1200 lower than what it used to be. I was concerned, but not overly so, and as I was leaving on vacation the next day, decided to deal with it upon my return. I received a letter detailing the lowering of my limit two weeks AFTER the decision had been made without any input from me whatsoever.
They claim that due to various credit factors, they unilaterally lowered my credit limit without discussion. I have no idea what they're talking about with regards to credit factors as I own my own house, two cars and have a very good credit score, but by lowering my available credit, they are actually DAMAGING my overall credit rating. Understandably, I am very upset. I called Chase and the incredibly unhelpful, unintelligent robot that answered my call insisted that neither he or his supervisor would be able to reinstate my credit limit to what it was before.
I am now in the process of transferring the balance of my Chase card to another bank so that Chase will not have any of my business, nor my boyfriend's business. They can say goodbye to the interest they would have received from our various accounts as well as the interest they would have made from my credit card. In addition, I have told numerous friends and family members about Chase's business tactics and to date, four people that I know have removed their accounts and credit cards from Chase. I will continue to tell people I come into contact with to leave Chase and will cross post my complaints on every web medium I can find to encourage other Chase customers to leave as well. In researching the possible repercussions to this event, I came across literally hundreds of complaints from people just like me in the same situation. What is being done to resolve these issues?
If this is Chase's way of increasing or maintaining their client base, it's an incredibly poor business model; one can only hope this will result in their eventual downfall. It's time that banks that are poorly managed and run on corporate greed realize the consequences of their policies: loss of customers and company failure, one that the American public will NOT bail them out from.
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.