Chase...can't buy a house if you have no faith in the banks.
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2010 Apr 6, 1:18pm 11,465 views 49 comments
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Not that I want to bring up an aging thread, but yesterday my wife gets a call from Chase that they have important information about my account. She told them correctly that I do not have an account with Chase. The only response was to have me call the number on the back of my credit card. So this morning I just checked online and there is no evidence that they canceled my account as requested. If anyone thought I was overly pissed and taking this too personally before…if I ask you to cancel my card you better do it.
Do not trust this bank…
Also, a distant relative recently past away and someone opened a Chase credit card in their name while they were in critical care in a hospital about two days before they died. Maybe it is not Chase’s fault, but I warned the person dealing with Chase to continue to call them and make sure they canceled the account seems I should have listened to my own advice.
Chase, please explain why my card has not been closed as requested? You have had over a week. Should I call your fraud line and state that Chase has hijacked/stollen my account and will not close it as requested?
BTW, I cut the card up and the last letter you sent, see above, had no contact info. How amd I supposed to contact you?
OK, the Chase web site says my account is open and the phone number I found online gives me a recorded voice saying it is currently closed. Chase needs to get their systems in sync, they had over a week to update the web site with some kind of info the account is closed.
I have closed accounts with banks in the past where the user id and passwords would still work long after, but they always told me that the account was closed or eventually that there was no account associated with the login id.
So, if my account is really close why are contacting me with important new info about my account? There should be no new info or changes for a closed account?
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I received a letter in the mail today telling me that Chase had already reduced my credit limit from $7000 to $500. This was not a notice that it would change in 45 days; they had already made the change. I checked my account online and sure enough the limit was $500. They said I had 45 days to reduce any outstanding balances to under the new limit.
So, I called to ask what they might be able to raise my limit up to and was told that they could work with me and get me an instant limit approval, if I would approve a credit check, give them my salary info., etc. They re-stated the reason for the lowing of my rate which believe it or not I already understood and really had no issue with. I did not really need a $7000 limit and never asked for one.
As calmly as I could, I told them that they already had my salary info., and credit report info. before they lowered my rate, so I saw no reason in giving approval for an unnecessary credit check. At this point I asked to cancel my card as I did not need a $500 limit any more than I needed a $7000 limit. When asked for a formal reason for cancelling the card I made it clear it was not really about the lowering of the limit, it was about the loss of faith in Chase’s ability to support its customers and that I expect Chase to be out of business by the end of the year.
My balance was $0 and I would use the card every few months by running a couple hundred dollars on it. I did all the things you would normally think do to stay in the grace of Chase. I would not have minded if they lowered my rate to say $2000, but the $500 limit was just plan insulting.
That limit basically confirms to me that Chase is in trouble. I will not buy a new home until some of these too big too fail banks actually fail…if our failed economy was not too big to fail then there is no bank that will ever be too big. These ivory towers have to fall before we can rebuild on solid ground.
Thanks…