Consumer complaint received 2018-03-06
Company: JPMORGAN CHASE & CO.
State: IA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Problem with personal statement of dispute

Complaint:
To Whom It XXXX Concern : This letter is written to dispute the report made by Chase Credit Card XX/XX/2018 to XXXX and XXXX reference an increased credit usage and to ensure my character remains intact concerning my financial matters and the way I manage ALL of my financial transactions. In the month of XXXX and XX/XX/2018 Chase Credit Card increased my credit usage from 66 % to 99 % in a 24 hour period by decreasing my available credit on all my accounts. This significant increase of credit usage, invoked by Chase Card, dramatically decreased my credit score over 100+ points immediately damaging my financial character giving any and all potential creditors an erroneous picture of my ability to handle my financial matters as this credit increase/usage was and is not of doing. 

I have never used 100 % of my credit with Chase Card.  However for the second time this creditor has increased my credit usage to 99 % by decreasing my available without notice. In accordance with the credit industry standard 30 % of your credit score is based on available credit. By Chase Credit Card increasing the credit usage from 66 % to 99 % Chase negatively impacted the 30 % standard and universally cut the entire 30 % to zero removing any pending favorable action/decision a creditor was in the process of making. 

Upon finding out through a potential vendor that my credit score had changed and my credit monitoring service that Chase Card increased my credit usage from 66 % to 99 % I immediately called Chase Card to  discuss this damaging act as I was in the middle of purchasing a car as both of my current cars are no longer road worthy. Chase Card caused a very difficult situation and an embarrassing and arduous conversation as I was dumb founded as to the condition of my credit usage and vehemently denied to the vendor who ran my credit report that my credit was at 99 % across all three accounts with Chase Card. Fortunately my payment history with all of my accounts is impeccable however it does not do much when your debt to income is adversely affected over night when a creditor increases your credit usage to an outrageous amount with no notification/explanation. 

Upon contacting Chase Card I was told they are not required to contact me and can make changes to my credit limit without notice. This implied Chase Card or any creditor for that matter can ruin my credit standing and credit score without notice. As you might of imagined I became very agitated and was sent to three different representatives as they all told me the same  thing as I requested to speak to a supervisor hoping I could talk to someone who would understand what they did. When I finally spoke to a supervisor I was again told they could make the change as they have the right to do so as they are protecting their interest. 

I respectfully dispute the actions of Chase card, without notice, to increase my credit usage from 66 % to 99 % which led to the decreasing of my credit score damaging my financial character without considering the overall damaging impact to its costumer through a credit reporting system that is visible to all. I request that I be allowed to have my credit limit restored to its original credit availability or a letter from me is placed in my credit file disputing this egregious act on my character which has negatively impacted my ability to obtain future financial favor. 

Sincerely, XXXX XXXX XXXX XXXX.

Company response to consumer: Closed with explanation