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 Arbitrary Closing of Chase Account
Posted Tue December 2, 2008 12:00 pm, by Fred G. written to Chase Bank
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I signed up for a BP Mastercard in May 2008 (administered by Chase). This card offers 10% rebates for the first 60 days and 5% thereafter - no limit on rebates. I used the card for all of my gas purchases through the summer of 2008. My first three bills were around $1,200 each - all gas purchases. I have a boat and 2 jetskis so I buy a lot of gas during the summer months! During the five months I had the card I got rebates of $400+ back, legitimately, based on the program rules.
Last week I got a letter from Chase indicating my account was closed. The letter said that a review of my account indicates that I am making commercial fuel purchases, based on the volume of gas I purchased. Account closed, just like that. What!? Well - I have never purchased any gasoline for a business. I do not have a business vehicle or purchase gasoline for any buiness. ALL OF THESE PURCHASES WERE FOR PERSONAL USE. And I have a record of every purchase in Quicken so I have the documentation to back up my position.
I believe Chase closed the account due to the volume of rebates they paid. This is obviously illegal since there are no rebate limits in the program rules - and I did not violate anything in my cardholder agreement. By the way I have excellent credit and do not carry a balance on any credit card.
I want three things.
1) Reinstate my account.
2) Remove any reference of the account closing from my credit report.
3) Refund the $30 in rebates you suspended when you arbitrarily closed the account.
If you actually decide to take action on this please email me back and I will give you all the details you need. I have already submitted a formal complaint to the Comptroller of the Currency so here is your change to correct an issue before they contact you.
Sincerely,
Fred
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by Mark1857 Posted Tue July 28, 2009 @ 6:05 PM
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Chase did that to two of my accounts this month. They gave me no
notice on it either. The reasons they gave for closing them were:
Time since last past due is too short.
Total available credit on bankcards is too low.
Average length of time since bankcard(s) opening is too short.
They explained to me what those meant but it still made no sense on
what that had to do with it. I pay mine on time every month and always
pay way more than the minimum. I think it had to do with me paying
extra that did it since they were not making as much on interest. They
told me that if I could prove on my credit report that the negative
things weren't true they would reopen my accounts.
Can anyone give me some advise on what I can do?
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by sunflower Posted Mon July 27, 2009 @ 11:56 AM
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DITTO: I have had my account for close to 7 years. NEVER< NEVER<
NEVER late on it. And low and behold.....they close my account....the
only response I got was "It s our priviledge". I had them look up
my history and THEY (CHASE) had nothing to say....Keep ruining
everyones credit CHASE. I have no answer for why they did it. I
will continue to make payment and pay off my 400.00 dollars that I owe
now....But they refuse to reopen. And WIll not touch my credit
report...What s the world coming to?
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by Nemo Posted Fri May 8, 2009 @ 1:29 PM
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http://finance.yahoo.com/loans/article/107054/Snipping-Credit-Lines-fo
r-Small-Businesses?sec=topStories&pos=9&asset=&ccode=
Who would do business with you after that?!? Where are you going to
get money to "reward your outstanding employees", and specifically -
ceo gang?!?
You people manage to prove once again that you have no right not only
to "run the world" like you've been claiming but even to exist. Your
kind is the main source of pain and suffering in this society.
I don't know how you sleep at night... but a payback is coming - you
are too stupid to realize that the society - even as dumb as ours - is
fed up with you, and whatever regulations are coming is a direct
result of your own destructive behavior.
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by DanaDaisy Posted Thu December 4, 2008 @ 9:07 AM
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Absolutely ridiculous. They have no right to cancel your account,
expecially with no prior notice. I hope they take you seriously.
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by What's all this receipt nonsense? Posted Tue December 2, 2008 @ 1:55 PM
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They said it was for one reason, and it may have been. You can fight
that, but I believe they can cancel your account at any time. Even if
you got it back, they will probably turn around and give you the old
heave ho the following month. I would expect it.
Let's face it, you were unprofitable to them. It is common sense.
Credit card banks cancel accounts all the time for that.
I have a rewards card also, and get back a lot of cash from gas
purchases. But I use it for all my shopping, so they are making money
off if that. It comes down to business, if you think about it. They
are in business to make money.
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I agree
by What's all this receipt nonsense? Wed December 3, 2008 @ 12:17 AM
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