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New Visitor
Posts: 7
Registered: ‎10-20-2008
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Re: Chase closing account for no reason?

This has actually happened to me as well... and it was a WAMU card.

I'm not really sure if I should dispute it being that it will affect my credidt score right?

 

 

Senior Contributor
Posts: 4,923
Registered: ‎04-19-2009
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Re: Chase closing account for no reason?


garnet402 wrote:

This has actually happened to me as well... and it was a WAMU card.

I'm not really sure if I should dispute it being that it will affect my credidt score right?


You can't dispute this action with the CRB's - that's what dispute means. Depending on the validity of the reasons offered for the closing you may want to file complaints as outlined above and let Chase know that you wish to have the closure reconsidered.

New Visitor
Posts: 1
Registered: ‎06-23-2009
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Re: Chase closing account for no reason?

[ Edited ]

They did the same to me with my WaMu card, cut my limit in half and raised my interest rate to 24.24% and minimumn amount due went up to 5%.

 

Funny thing is my Chase Platinum card remains at 8.9% and I am only required to pay just the 2% of the balance, with no limit cuts...knock on wood!

 

Never late always paid on time and paid more than minimum. How can one card still retain it's good rate and not be cut and the other card slashed and interest tripled, because it was a WaMu?

 

Another funny thing with Chase, is with my "good card-8.9%", yesterday I just recieved a check with a 0% offer for 6 months.

 

I do not believe their left has has any idea what the right hand is doing.

 

When I called them all I got was a canned response in poor English. At first the girl said I am sorry for the cancelation of your account...I said , it's canceled now? you just cut my limit yesterday. oh I sorry for the blah blah blah...they should at least be correct in reading off the right response. eerrrrrr!

 

Their action has lowered my credit score more than 40 points. When I mentioned to the girl I was concerned about my score she starts telling me what factors go into figuring my score....I DO already know that, then she tells me to call Experian. There are no bad reports from them. She said it was canceled for credit to limit too high...I am at 13% usage...so that is total bunk!

Message Edited by suza on 09-11-2009 06:31 AM
Established Member
Posts: 23
Registered: ‎04-12-2007
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Re: Chase closing account for no reason?

Hi Suza, Thanks for sharing your horror story. Chase throws all logic out the window. I don't get it. Whatever. Nothing has happened with my current Chase Freedom, no limit drop or closure, knock on wood, so keeping an eye on this one alot closer.
Next stop...800+ Club!!!
9/11/09: TU 734, EQ 745, EX ???
Senior Contributor
Posts: 4,923
Registered: ‎04-19-2009
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Re: Chase closing account for no reason?


suza wrote:

They did the same to me with my WaMu card, cut my limit in half and raised my interest rate to 24.24% and minimumn amount due went up to 5%.

 

Funny thing is my Chase Platinum card remains at 8.9% and I am only required to pay just the 2% of the balance, with no limit cuts...knock on wood!

 

Never late always paid on time and paid more than minimum. How can one card still retain it's good rate and not be cut and the other card slashed and interest tripled, because it was a WaMu?

 

Another funny thing with Chase, is with my "good card-8.9%", yesterday I just recieved a check with a 0% offer for 6 months.

 

I do not believe their left has has any idea what the right hand is doing.

 

When I called them all I got was a canned response in poor English. At first the girl said I am sorry for the cancelation of your account...I said , it's canceled now? you just cut my limit yesterday. oh I sorry for the blah blah blah...they should at least be correct in reading off the right response. eerrrrrr!

 

Their action has lowered my credit score more than 40 points. When I mentioned to the girl I was concerned about my score she starts telling me what factors go into figuring my score....I DO already know that, then she tells me to call Experian. There are no bad reports from them. She said it was canceled for credit to limit too high...I am at 13% usage...so that is total bunk!


Welcome to the forums!

 

Call Chase and tell them you wish the closure reconsidered - they can do it. Then file complaints with the BBB in Delaware and with the Office of the Comptroller of the Currency here:

 

http://www.helpwithmybank.gov/

 

Following this procedure is not a waste of time. It has produced results for many.

Regular Contributor
Posts: 192
Registered: ‎12-06-2008
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Re: Chase closing account for no reason?

Chase canceled my Wamu account as well, I had done a product change to the perfect card after they took over, so when they canceled it they took 2 months worth of the cash back I should have received. I spoke to Chase and they weren't helpful at all, so I filed a complaint with the BBB and Chase promptly credited me the cash back I should have received.

 

Chase may not care about a lot of their customers, but it would seem they don't like having open BBB complaints on file. When I filed mine there was only one other open complaint there.

Frequent Contributor
Posts: 318
Registered: ‎09-25-2008
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Re: Chase closing account for no reason?


Cyrion wrote:

Chase canceled my Wamu account as well, I had done a product change to the perfect card after they took over, so when they canceled it they took 2 months worth of the cash back I should have received. I spoke to Chase and they weren't helpful at all, so I filed a complaint with the BBB and Chase promptly credited me the cash back I should have received.

 

Chase may not care about a lot of their customers, but it would seem they don't like having open BBB complaints on file. When I filed mine there was only one other open complaint there.


Same here. I'm going to call first, of course, but I may end up having to file the complaint too. Might be better to do BBB complaint along with http://helpwithmybank.gov/

 

I'll post here when I get to that part.

TransUnion/Equifax
746/754
Date: 9/24/2009/10/02/2009
Established Member
Posts: 23
Registered: ‎04-12-2007
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Re: Chase closing account for no reason?

Okay everyone, what do you think my chances are of getting my existing Chase Freedom rate down from 22.24% to a reasonable rate????  Gee, wonder why they closed my initial Chase account, could it be it low rate at 12.74%???  Doh!!!! 
Next stop...800+ Club!!!
9/11/09: TU 734, EQ 745, EX ???
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Epic Contributor
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Registered: ‎04-01-2007
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Re: Chase closing account for no reason?


bewildered wrote:
Okay everyone, what do you think my chances are of getting my existing Chase Freedom rate down from 22.24% to a reasonable rate????  Gee, wonder why they closed my initial Chase account, could it be it low rate at 12.74%???  Doh!!!! 

I have to ask, why do you care? Surely you're not running balances in this day and age... :smileysurprised:

I'm not trying to be flip; I just genuinely don't get the APR thing. Debt is toxic at any time, and especially now. (I exclude 0% APR's on BT's and initial purchases here, and similar killer deals.)
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Established Member
Posts: 23
Registered: ‎04-12-2007
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Re: Chase closing account for no reason?

not flip at all, it was more of a rhetorical question.

 

I actually don't care since the card is at zero balance and I won't be using it, I'm serious about keeping debt free. 

 

But I was thinking that if no activity would they eventually close this account too?  Should I throw a small balance on it every month, PIF of course, to keep it open.  And if I am doing this here and there, should I try to request they bring down the rate even for small balances? 

Next stop...800+ Club!!!
9/11/09: TU 734, EQ 745, EX ???
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