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 Chase Closed My Account Without Notification
Posted Mon February 11, 2008 12:00 pm, by stormy b. written to Chase Bank
Write a Letter to this Company | Rate this Company
Sometime in January, I received convenience checks from Chase Bank for my credit card. As I had not received a statement from Chase as of today, February 11, 2008, I called Chase customer service to inquire about my account.
Outgoing voice message told me the account was closed. When I spoke to a representative, they transferred me to an account manager. The man who spoke at length with me explained that my account had been closed by Chase because of inactivity on the account, even though my card is valid through the end of February 2008.
This account was closed without my knowledge, without notification from Chase. I would never have known about this if I had not called them.
I believe as a consequence of the account closing, a report was triggered by a credit bureau that prompted Bank of America to raise the APR on my credit card with them to almost 20 points.
I have been told that I can pay off the credit extended to me by Chase per the terms of the agreement on those checks. However, my request to reopen the account is still pending Chase approval and will take several days.
Furthermore, according to bank records, the account is shown as having been closed at my request. This, in my opinion, is patently dishonest.
I was told by the Chase account manager that no bank is under any obligation to extend a loan to any customer, and that Chase can, at any time, close an account without any dialogue with the customer, and can even specify that this closing has taken place at the customer's request, even if such a thing never occurred.
It seems to me that before any bank can close any account, the account holder must be contacted in some fashion. Chase was certainly able to supply me with convenience checks to use on the account, and the card in my possession is still valid through February 2008. It would have been most embarrassing had I chosen to use the card at a merchant and then have been told my card was declined.
Furthermore, the impact that this has had on my credit status cannot be calculated.
I would like for the promotional APR on my current balance to be extended for the remainder of 2008. I would like for my account to show an active status, and I would like a reasonable APR, which will ensure that I will use the card in the future. The reason for the inactivity on the account is that its APR was several points higher than offered on other cards I have.
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by Somebody W. Posted Sat October 3, 2009 @ 2:19 PM
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It happend to me too!! Even I DID pay my accounts fully i got a
letter today that they closed my account because:
-Lenght of time since oldest revolving account was opened is too
short( crap)
-The number of bankcards opened has grown too fast(crap)
They are the one that offered me another credit card with a higher
credit limit!! I made my payments( many times i pay fully) and they
f... close it!!!
What kind of company is this??!!
I guess they do not care and they are suffering because of the new
law regarding fees for overdraft!!
Everyone has almost the same letter! Is that just a coincidence? or
it's just their way of covering their own ass?!
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by TheZane Posted Fri July 31, 2009 @ 10:46 PM
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I just got my letter today stating that my account had been closed.
They gave three reasons.
1. Average length of time since card opening is too short
2. Total available credit on card is too low
3. Too many recently opened cards compared to total accounts.
The Truth.
1. Card was opened 11/08 so I've had it for 9 months. Never missed a
payment never late. Not sure how long I have to have a card before
Chase won't close it. Don't see how anyone has a card if this is their
rule.
2. Card has never been over $1580 when my limit is 3k. I've been
paying it down and it's been around 1200-1300 for the last few months.
I had just made a payment that brought it down to $600 just last
month.
3. This was the last credit card I opened. I have two. The other card
was opened 2 yrs ago 7/2007.
Their reasoning makes no sense. The guy on the phone said you have the
right to dispute my credit report. and then he hung up the phone on
me. I checked my credit report. Nothing negative and everything is
accurate and shows that my credit history is in great shape. If Chase
doesn't want to reinstate my account I'll be switching all of my
accounts (checking, savings, etc...) to a different bank. I didn't
choose Chase after all, I was with WaMu.
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by Rubba Posted Mon July 20, 2009 @ 11:08 PM
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Same thing happened to me. Is there any recourse? Fortunately we had
no auto payments on the card, however I've read post from peoplewho
did, and obviously were left in a precarious position after having the
card closed without warning.
there is an email function on the Chase website where we were recently
notified that the cash advance terms and one other thing (which I
cannot recall, were being changed. If they can post this email in my
account online why couldn't they inform me of any problem with my
credit, that might result i n the closing of my account, and give me a
chance to explain or dispute. Don't they have some obligation to the
customer. we had gthe card for 3 years as a WAMU and Chase, from the
time they bought WAMU. We never exceded our limit, our credit was
incresed from $1500 to $4000, never had a late payment and paid off
the balance monthly 95% of the time.
How does that warrant being to big a risk?
What can we do?
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by Rachelle G. Posted Sun July 19, 2009 @ 10:08 PM
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I can relate to your situation. I am on vacation right now. I paid
off my chase credit card so that I could put my condo on the card.
When I got to the reservation department yesterday to pay for the
condo, the charge was declined. So, I called right then and there,
and the Chase representative told me my account had been closed
because I had something negative on my credit report. I said I don't
understand because I have nothing negative on my credit report and I
have had the account since 06 and have never been late on a payment.
The rep told me that it's closed and it has been closed for two weeks
and I should be receiving a letter in the mail within 6 to 10 business
days. Not only was I embarrased, but I was and still am irate because
I don't understand how they can do this to someone. Luckily I had
extra money put back, but it sure put me on a much tighter budget for
vacation!
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by Billy B. Posted Fri July 17, 2009 @ 2:16 PM
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They are now closing account that were at washington Mutal WaMu, With
out a word they closed a 7 year old credit card account that was up to
date, balance of 700.00 on a 1500.00 credit line - this happened to a
girl freind of mine,
I thought this was a bad bank, I also went in to a local branch to
cash a payrol/commision check, I have been doing this for 2 years at
this WaMu branch, I was told that Chase would no long cash a check
over $3,000.00 - Now mind you this is a payrol check drawn on WaMu /
Chase account by a corperation paid to me as an pay check and they
refused to cash it,
I think Chase is part of the communist party
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by Tony Nelson Posted Wed February 20, 2008 @ 10:27 PM
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Chase closed all of my account too. This is because Chase is trying
to reduce it's exposure to Credit Card debt due to the Subprime
meltdown. Expect to see more of this from other companies in the
future.
Tony N.
Los Angeles, CA
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Sure alot of complaints of credit card companies here. If you lie
with snakes, you are eventually going to get bitten.
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by Gino Posted Tue February 12, 2008 @ 12:24 AM
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I'd re-read my credit agreement and all "credit account detail
change notification" letters the bank sends. I get these checks
from my bank, and the fine print usually divulges that using the
checks "Is" your consent to the terms and conditions
listed.
Depending on what the terms are, they may well have the right to act
as they did.
Convenience can cost, and the way the economy is going, it is going to
get much worse before it gets any better for all of us who use
credit.
I'm with other card companies, but do they have any numbers to call or
perhaps a local branch you can visit to find what your options are?
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