Consumer complaint received 2018-03-20
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:
I have been a Chase customer for over 13 years and currently have 4 different credit cards with Chase. I spend ~50 % of my time traveling for work and use multiple credit cards to separate my expenses along with maximizing my rewards depending on which airline I fly and hotel I stay with. I spend well over 100k a year across all my cards. My credit score is above 750 with 13 years of history. I have never missed a payment, have fully paid off 2 car loans and all my student loans ( including ones financed by Chase ).

On a monthly basis I receive promotional offers in the mail from Chase saying I've been pre-approved for this credit card or this balance transfer fee. At the end of XXXX I decided to apply for the pre approved offers for two credit cards chase sent me in the mail. I also took advantage of a Chase balance transfer offer they sent me in the mail. About a week later all my accounts were closed with Chase with no reason or warning. It took them 7 days from the closure to notify me in the mail. Because they waited 7 days to let me know my cards were closed many of my auto payments I had setup failed and I was charged late fees for my utility bills, cell phone, internet, etc. 

I contacted Chase to see what happened and they couldn't provide me with any concrete answers. They said I am a high risk customer and they can't have a relationship with me. I asked if they couldn't have a relationship with me why would they send me pre-approved credit card offers on a monthly basis? This is misleading and aggressive tactics. The reps response was rude and didn't want to hear anything from me. The rep also said that the decision is final and they can't do anything about it. I mentioned that I had researched online and this looks like a common issue with Chase and many people were able to get their accounts re-instated. This only made the rep more upset and they started to yell at me. This is XXXX XXXX behavior coming from a large bank! 

I contacted another rep at Chase who immediately put in a request to re-open the accounts. Why different reps say different things shows lack of consistency across Chase. A week later I got a phone call stating they couldn't reverse the decision and my accounts were remained closed. 

I believe Chase is taking advantage of consumers and has engaged in misleading and aggressive tactics. Here 's examples of the predatory, anti-consumer tactics used by Chase 1 ) Chase sends me multiple credit card offers a month saying I'm pre approved. But then after I apply they close all my accounts. If you think I'm a risky customer then dont aggressively ask me to open more cards under your bank. This is predatory behavior!

2 ) Chase needs to be more consistent on what defines a closure. All the reps were clearly untrained about this policy. Some people can get their accounts back while others cant and there's no clear rule that decides if an account can be reopened or not. If you challenge the reps they become extremely rude to you, start yelling, and verbally attacking you. It's like common, all my credit cards were closed and this is a huge hassle for me. Chase should be better prepared to handle these situations. 

3 ) Even after my shutdown I'm still getting pre-approved credit card offers and balance transfer checks? Seriously Chase? If this isn't predatory behavior I dont know what is. You shut me down and you still aggressively target me for credit card offers?

4 ) Chase has 0 value in customer loyalty. Chase has been my primary bank since I was XXXX years old. Many of my credit cards with them are over 10 years old. I explained to them since I spend 50 % of my time traveling I need a large amount of cards to  separate all my expenses. They just laugh and say sorry we don't want a relationship with you. Ironically they left my checking account still open.

Company response to consumer: Closed with explanation