Report: #475327

Complaint Review: Chase Credit Card Services

  • Submitted: Fri, July 31, 2009
  • Updated: Fri, July 31, 2009
  • Reported By: Las Vegas Nevada
  • Chase Credit Card Services
    PO Box 17199
    Wilmington, Delaware

Chase Credit Card Services closed my account (that was in good standing) and blamed it on Experian! Wilmington Delaware

*Consumer Comment: Times are changing.

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My partner received his notice first that Chase was closing both of his credit card accounts. When he received his notice, I figured I would probably be next. Well, today the other shoe dropped and I received my notive as well. Chase must really be hurting because of the poor purchase decision they made to buy out Washington Mutual in recent months. The reason for closing my credit was for the following reasons: 1) Total available credit on bankcards is too low. 2) Too few accounts paid as agreed compared to total accounts. 3) Too many active bankcard accounts.

Here is the interesting part of the whole thing regarding their reasoning. In regards to reason (1), I have never come close to maxing out this card or any of my credit cards. I just don't do that, nor do I ever plan on doing that in the future. There is plenty of available credit on all of my cards. For reason (2) Too few accounts paid as agreed compared to total accounts? Really? I filed for bankruptcy almost 3 years ago and it is discharged.

This account, as well as all of my other credit cards, my auto purchase, and my new home purchase, were all made AFTER the bankruptcy was discharged. I have made all of my payments on time, and I have always paid more than the minimum payment requested by the company. I even pay more on my car loan and my mortgage. The total number of accounts are all paid according to the credit agreements because the bad ones were discharged almost 3 years ago. In regards to reason (3), too many active bankcard accounts? I only have 5 bankcard accounts. Although this may seem high, the national average is 8. Regardless, who is Chase to determine that I have too many accounts anyway? I never hired them as a financial advisor!

In the end, I completely believe Chase Manhattan is hurting a great deal by purchasing the defunct Washington Mutual! I was opened this card through Washington Mutual, and my partner opened his through Washington Mutual as well. By Chase closing my account, they have only hurt my credit more! The have now closed a credit card with a balance, it was opened less than three years ago, and the total combined available credit reported has now been reduced. These are all things that severely hurt a person's credit score.

When I called Chase to dispute it, there response was "We didn't close your account, Experian sent us a report and told us to close your account!" Really? Because this is completely illegal it that is the case. Credit reporting agencies only keep track of someone's credit history, they do not determine who is eligible for credit! That is up to the company issuing the credit. The representative told my partner, "Your credit is so bad, you really should have any credit cards at all!" First, this is extremely rude for anybody to say, and second if it is so bad how come they are offering increases to his accounts consistently, he has bought a new car, and he also purchased a new home?

I encourage all consumers who bank with this company to stand up and make a statement. We should not be responsible for Chase's bad purchasing decisions! CLOSE YOUR BANK ACCOUNTS WITH CHASE/WASHINGTON MUTUAL AND REOPEN A BANK ACCOUNT WITH A COMPANY THAT STANDS BEHINE THEIR CUSTOMERS!

Eric M.
Las Vegas, Nevada
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This report was posted on Ripoff Report on 07/31/2009 12:40 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

Times are changing.

AUTHOR: Flynrider - (U.S.A.)

The days of free and easy credit are long gone now. Banks are going back to the more sane lending practices of a decade ago. You are a good example of what the problem was. Five credit card accounts less than 3 years after a bankruptcy? While this might have been OK in the days when you didn't need a job or income to get a mortgage, it would have been unthinkable in the early to mid 90s. Back then a bankruptcy actually had consequences. Those practices are coming back.

What's happening now (not just at Chase) is that banks are reevaluating outstanding credit lines with a critical eye in an effort to reduce risk exposure. If you've ever read the terms that came with your revolving credit agreement, you'd see that they are well within their rights to do so. You can change banks if it makes you feel better, but you're likely to find the same conditions at any other bank.
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