Consumer complaint received 2021-11-07
Company: JPMORGAN CHASE & CO.
State: MA
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:
Today, XX/XX/2021, I opened a letter from Chase bank telling me my recently opened credit card account would be closed. The reason given was that, " Chase closed a previous credit card, deposit, or investment account. '' To my knowledge I have had no other accounts with Chase, so I called the customer service number included on the letter. I spoke to two people, a woman and then a man, I did not take their names. The woman told me perhaps there was an account that I did not remember opening, something I didn't use, or had forgotten about. I insisted that I have been meticulously curating my credit my whole life, and I would remember if I had another account with Chase. She then transferred me to " Retail '' to see if Chase had any other account on file with me. I then asked the man what accounts I have, and he listed the card that Chase told me would be closed and asked if I had any other questions. I reiterated the issues I explained to the woman, and he instructed me to speak to a manager in her department, Customer Service. He transferred me back, and I was hung up on. I immediately realized there was a chance I had been scammed for my Personal Identifying Information. I promptly called the main customer service number for Chase, and was placed on a two hour hold after explaining my situation. At that point, I hung up and gave the same number a call back. Then, I reached a manager with Chase who confirmed the account would be closed. As someone with a high credit score, 100 % on time payments, who has been a trustworthy credit holder since I was XXXX I was incredibly confused. I pressed for more information and was told Chase had decided to end its business relationship with me as a result of " one of its affiliates '' doing the same. I repeatedly questioned the letter 's contents, the behavior of the people I had spoken to, and what the manager had told me as well. Nothing made sense. There should be absolutely no reason that I would have my credit account closed. In fact, I was gearing up to try to get my first mortgage so I could own the place I live while earning my XXXX. Upon researching these types of events online, I already suspected Chase might be canceling my account for one of the reasons others stated online. I have multiple student loan account, and my servicers keep ending their contracts with the government. Thus, my credit history indicates 6 new accounts everytime I get a new student loan servicer. It is frustrating, but there is nothing I can do. I also know I made multiple payments in a month so my total available credit would be higher, which I read is enough to trigger a red flag for something called bust out credit card fraud. I assumed prior to speaking to the manager that I could appeal and show them I was innocent of whatever wrong they flagged in my history. However, after speaking to the manager and further research based on what she said ( and what she would not say ) I know they do not offer a guaranteed appeal process. I also read that a large amount of other people have had Chase do things like this to them with much higher stakes. I will suffer probably the most significant drop in my credit score ever, lose the cash back and 0 % interest offer Chase gave me, and potentially not have high enough credit to get a mortgage. Other people describe having 20 year old accounts canceled out of the blue. I spent several hours today just trying to get a straight answer as to why Chase is doing this.

Company response to consumer: Closed with explanation