Chase watch out, they discriminate against wamu customers, increase your interest rate and then close your account locking you in to higher rates if you opted to keep your apparent terms of agreement Wilmington Delaware

I have been a very good customer of this credit line since 1998, over 10 years. I started w/Providian, Washington Mutual bought them, and finally Chase took over. I never made a late payments, even through very difficult financial times since my credit score was extremely important to me. I relied on credit cards to purchase food in graduate school, support my children during tough times, and most importantly paid off the balance in full several times over the last 8 years, using to finance my business expenses, and purchase building materials, using them as a business line of credit to do exactly that. not abuse them to purchase unnessary luxuries. I have paid off as much as $11,000 in one lump sum several times. over the last 11 years I have paid as much as 26% interest, and other associated fees to them. I kept this card since it is my oldest card to maintain my good credit history. They sent me a letter several months ago letting me know they were reducing my credit line and raising my rates, and I could cancel them and maintain my lower rates. I chose to keep the account and accept the higher rates. I understand they need to cover losses. in April I lost my job, but received a large severance payment. Rather than keep my severance money for myself to live on and support my family and business, I payed off 2 chase cards that were in my fiance's name in full, totalling $17,000, and paid $5000 down on my personal line to bring my credit line with chase to 50% loan to value. last month I was horrified to see that they chose to close my account, which locks me into the much higher rates,and lower his credit lines to $2000, although his credit score is in the mid 700's and has never missed a payment in his life, over 20 year credit history.

their reasons were:
1."bankcards balance grew too fast comparied to credit limit and time on file"....this is interesting, I have had a relatively high credit line and balances for the last 10 years, and I have paid them off several times...as one often does when they have to use for business purchases. interestingly enough, my credit score has never been higher, I am now in the 700's, and one of my reasons as cited by experian is I have high credit limits, and do not have significant balances on them, which apparently convinced many of my creditors to extend me credit??? I see some of the other consumers who are having the same problem, accounts were closed as well, even if chase was the one who gave them the credit in the first place and then punished them for using it.
2. too many open bankcards with high balances: interesting, another poster claimed they got the same reason, but they only had 2 credit lines....what is too many???

I noticed their form letter file name in the footer says: "wamuclosure 1". so watch out former good wamu customers, chase actually has a wamu form letter generated to severe their agreement with you, they seem to be discriminating against wamu customers????

also, i noticed that the only negative change to my credit report in the last 6 months was that my employer changed to former employer, it now shows me as unemployed and collecting unemployment insurance, the consumer credit protection act is supporst to prevent them from discriminating against: "because all or part of the applicant's income derives from any public assistance program"

I would love to file a class action against them for their discriminatory and bait and switch tactics. DONT PAY YOUR CHASE CREDIT LINE DOWN, THEY CLEARLY HAVE NO INTENTION OF TAKING THAT INTO CONSIDERATION.....

Cass
lake geneva, Wisconsin
U.S.A.