• Report: #579277

Complaint Review: Chase Visa Credit Card

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  • Submitted: Mon, March 08, 2010
  • Updated: Tue, February 12, 2013

  • Reported By: Kirk Townsend — Three Rivers Michigan United States of America
Chase Visa Credit Card
270 Park Ave. New York, New York United States of America

Chase Visa Credit Card J.P Morgan Chase & Company Chase Decreased My Credit Limit By 85% Based On An Unsubstantiated Credit Report New York, New York

*Consumer Suggestion: typical

*Consumer Comment: *MAYBE THE EXECUTIVES AT CHASE AREN'T REALIZING THE AMOUNT OF MONEY FROM THE "SECRET LIFE INSURANCE POLICIES" THAT THEY TOOK OUT ON THEIR EMPLOYEES AND....

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After over 7 years of making my payments in full and on the date that they are due, Chase Bank decided to decrease my credit limit by 85% without due cause.  They based their decision on an unsubstantiated Credit Bureau report from Experian.  Instead of basing their decision on my actual payment history to Chase or any other creditor for that matter, they decided to arbitrarily decrease my credit limit by nearly $6000.  This short-sighted action transpired at the same time that I was vacationing with my family.   Chase sent me a form letter of their pathetic decision two weeks after I returned from vacation and one month after they reduced the credit limit on my account.  This entire ordeal smacks of hypocrisy given that Chase was a recipient of U.S. Federal Government Bail-Out funding in 2009.  Chase has proven time and time again that they cannot be trusted and this action is a perfect example of their complete and utter incompetence. 



This report was posted on Ripoff Report on 03/08/2010 01:29 PM and is a permanent record located here: http://www.ripoffreport.com/r/Chase-Visa-Credit-Card/New-York-New-York-10017-2070/Chase-Visa-Credit-Card-JP-Morgan-Chase-Company-Chase-Decreased-My-Credit-Limit-By-85-B-579277. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Suggestion

typical

AUTHOR: axamari - (United States of America)

All CC companies do this now. I had a card through American Express, perfect payment history and had it for almost a decade. They decided to close it citing a report from the credit bureaus. It happens because all you are is an account number, not a person. Best thing to do is get rid of credit cards completely. I use a debit card attached to a separate bank account I have set up just for purchases if I need it. If I want more credit I put more money into it. I make monthly payments to it if I buy something. If I want to go a couple of months without paying for what I charged I can do it and not have late fees, finance charges, etc. I'm done with credit card companies they are just scam artists.
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#2 Consumer Comment

*MAYBE THE EXECUTIVES AT CHASE AREN'T REALIZING THE AMOUNT OF MONEY FROM THE "SECRET LIFE INSURANCE POLICIES" THAT THEY TOOK OUT ON THEIR EMPLOYEES AND....

AUTHOR: Karl - (USA)

they decided to lower the limits on some of their cardholders, right?

It is possible, isn't it?

*Anyone can 'Google' this- BANK EXECUTIVES PROFITING ON THE DEATH OF EMPLOYEES, and read the article that says Chase has $11 BILLION in these policies, correct?

And anyone can 'Google' this- BANK OF AMERICA COMPLAINTS SECRET LIFE INSURANCE POLICIES, and read that article about all the other banks that are doing it too, huh?

WELCOME TO THE PUBLICLY HELD BANKS IN AMERICA- ONE MASSIVE LIE, OUT TO DEFRAUD THE AMERICAN PEOPLE & THEIR OWN EMPLOYEES

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********************************POEM ALERT******************************


*Anyone can 'Google' this- BROCK O'BOMB-A POEM, and read that poem, along with all the others.

And if you like those poems, you can also 'Google' this- STEAK DINNER POEM, and read that one, and a host of others as well. 


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