Consumer complaint received 2017-01-13
Company: JPMORGAN CHASE & CO.
State: UT
Product: Credit reporting
Issue: Incorrect information on credit report
Sub-issue: Account terms

Complaint:
XXXX XXXX, XXXX Chase Credit resolution Dept. 
XXXX XXXX XXXX XXXX 
XXXX, Oh XXXX To Whom It May Concern : Reference : XXXX business credit card account XXXX ( XXXX XXXX XXXX XXXX XXXX XXXX XXXX The above account was approved and began in XXXX of XXXX. As far as I can tell looking through the history of the account, it has never been late. 

In XXXX of XXXX, XXXX, my company was sold to XXXX and XXXX in XXXX Ohio. In XXXX of XXXX, I requested that the account be closed due to the sale of the company. I was told the final bill to close the account was {$130.00}. I paid the balance. I paid it on our company bank account that was closed by XXXX and XXXX and I had no idea the payment was returned. 

I was never notified by Chase that the payment was returned insufficient funds. In XXXX of last year, I saw an alert that my credit had changed. It was the first time I had any notice whatsoever of a problem with the above account. I immediately called customer service at Chase and was informed that my final bill had ballooned to {$470.00} with late fees and interest charges. After speaking with several people that were not helpful at all, I was transferred to a lady by the name of XXXX XXXX XXXX XXXX XXXX ) who agreed the charges were uncalled for. She lowered my bill to {$360.00}. I paid it immediately on the phone with a credit card. Still unconscionable, but I had no choice since these unwarranted late notices had been reported to all XXXX credit bureaus. I could not allow my credit to suffer any further. After XXXX did everything she could for me, she transferred me to XXXX who represented herself as being " in charge '' of customer service for Chase which seems very suspect since she did n't have a customer service XXXX in her body. She refused to repair the mistakes made from this situation to the XXXX credit bureaus on my behalf. 

The result is this : This account was open for 8 years with never XXXX problem. Hundreds and hundreds of thousands of dollars were run through that account in those 8 years. 

When the final payment was made to close the account and it was returned ; I was never notified by Chase. When the company was sold last XXXX, I deposited {>= $1,000,000} from the sale into a Chase Money Market Account. It is still there today. ( see attached ) There is no viable argument that they could n't find me to notify me. It also makes no sense whatsoever that I would n't want to pay my last bill on this account for {$130.00}. 

XXXX can only surmise that these are bank policies designed to rack up absorbitant fees and by also reducing XXXX scores with inaccurate data they force consumers to pay higher interest rates. 

I demand my credit be corrected to reflect my accurate payment history with your company. I should not be charged with late payments and face the resulting drop in my credit scores due to your negligent ability to notify me. Your own employee agreed otherwise she would not have adjusted the late charges. 

XXXX XXXX XXXX I 'm happy to provide more identifying information on this situation or attachment if someone wants to call me

Company response to consumer: Closed with explanation