Consumer complaint received 2017-11-08
Company: JPMORGAN CHASE & CO.
State: CA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Closing your account
Sub-issue: Company closed your account

Complaint:
On XXXX, Chase Bank closed all of my credit card accounts without warning. I called in on Friday XXXX to see what was going on and they said they were opting to close the accounts due to a large spike in spending. They said I could request a secondary review but did not say what that entailed. An agent, " XXXX, from XXXX XXXX XXXX '' later told me outright that they intentionally do not tell customers what that process entails. XXXX was the agent carrying out the secondary review. She cold called me the following Monday on XX/XX/XXXX( mind you, no banking days had passed between dates ) and began asking a series of questions I was unprepared for. She stated in a subjective opinion that she did n't understand my explanations for the increase in spending ( between jobs, just had to pay school tuition, and moved into a new apartment with a larger than desired rental deposit ). I bought gift cards since my roommate accepted them as payment for covering my deposit and rent from time to time. It helped me ease the financial burden, distress, and hardship. XXXX proceeded to state that her decision was final based on " nearly maxed out credit lines '' which had n't had time to pay down. She could n't even see the near {$15000.00} in pending payments to Chase now that I 've been given financial support by my family. This is notable because the crux of the issue was near maxed out credit lines. Not being able to factor in a massive reduction of outstanding credit seems inappropriate. After that, we discussed other reasons she wanted clarification on ( AFTER SHE ALREADY MADE A RUSH DECISION ). She had incorrect info about a credit CONSOLIDATION request which on her and showed as a credit increase request. She had inaccurate information on me funding a bank account with a credit card which she said was a cash advance. She could n't state which exact terms and conditions she was utilizing upon request. Chase had previously deemed me worthy for these credit cards and then predatoraly revoked them. The entire thing felt rushed and it was a tough effort to get straight answers from XXXX. It may not have been her fault, but she was working off of inaccurate information, had n't given me time to rectify or mitigate any of Chase 's worries, and then made a rushed subjective decision without the most up to date information on my credit report. Even further, she stated that she was n't even sure if I could be refunded the Annual Fees for these cards, some of which were no small sum ( {$450.00} ). This is yet another slight to me by Chase. Carrying out a secondary review using the exact same info and being quick to brush aside explanations is not truly a secondary review. In summation, I believe Chase Bank acted in a rushed manner with inaccurate information to close my accounts without warning and to the long term detriment of my financial well being and credit report.

Company response to consumer: Closed with monetary relief