Consumer complaint received 2019-09-12
Company: JPMORGAN CHASE & CO.
State: GA
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:
Early XX/XX/XXXX : Received a pre-approved credit card offer from Chase for a different type of card with " 0 % balance transfers '' for a period of time. Since I had a balance on my previous card, I thought, " Why not move my balance to the new card at 0 % for a few months while I pay it off, then use my existing card for continuing daily expenses? '' So I applied and was approved, though it appears that my applying for this additional card triggered some sort of internal red flags at Chase. Read on ... 

XX/XX/XXXX : Account was closed abruptly. Upon accessing my online account portal, I read the closure letter which stated a single reason : " Not enough credit information on file ''. 

XX/XX/XXXX : Called customer service at the phone number listed on the account closure letter ( XXXX ) to inquire. I was told that my credit history is too short ( approximately 3 years of account history ) and was asked why. I reported that I had begun rebuilding my credit history in XXXX after repaying all debt from a previous difficult time. I further reported that my account with Chase is now 1.5 years more seasoned than it was when I opened the card. I then asked that card be reinstated, since nothing has changed since opening the card 1.5 years ago, relative to the stated reason for closure " Not enough credit information on file '' except that I now have 1.5 years MORE good credit history since the account was opened. 

XX/XX/XXXX : Received my new Chase card with {$1800.00} credit limit in the mail. But by the time it arrived, the new account, AND my seasoned account were already both closed. 

XX/XX/XXXX : Received email stating that I had a letter in my online portal. There was no such letter within my online portal. However, the email I received had a " snippet '' which stated, " Dear Customer, We posted a new notice or letter to your " Statements & Documents '' on chase.com. 
We didn??? t ( sic ) reopen your credit card We encourage you to read the entire letter, because it contains specific information about your account. '' XX/XX/XXXX : I called customer service again to request an additional consideration. The account representative asked if there was further information about why my credit history is so short. I stated that after the economic crash of XXXX-XXXX, which left me personally financially devastated due to a real estate business decline, I had paid off all of my debts and AVOIDED BANKRUPTCY, taking care of all creditors. This should make me a good credit risk now that verifiable credit history is being reported since XXXX. Further, I stated that I have never been late on a single payment, spend thousands of dollars per month, using the card for many life purchases, and that I'm a good and profitable customer for Chase. 

XX/XX/XXXX : I received another email, identical to the one received XX/XX/XXXX, with the identical statement, " We didn??? t ( sic ) reopen your credit card '' ( errors included as received ). 

XX/XX/XXXX : Filed this complaint at consumerfinance.gov. 

SUMMARY : In XXXX-XXXX, I experienced heavy personal and financial losses which created negative credit marks. I subsequently handled all creditors and paid off all accounts, and by so doing, avoided bankruptcy, unlike so many others who were in a similar situation as me after XXXX-XXXX. This took many years of hard work. In XXXX, I opened my first new line of credit, then over the following 3 years, several more, being careful to include different types ( e.g., installment, revolving ) of credit. 

Since opening my Chase Sapphire account 1.5 years ago, I have never been late, never been over the limit, and have charged nearly {$150000.00} through this account in personal expenses. Much of that time, my credit limit was only {$7500.00}, which meant that I had to be extra conscientious with my {$150000.00} in activity, most months paying thousands of dollars in payments. 

I love Chase and want to continue my relationship with them, even intending to expand that relationship to include banking and an upcoming mortgage application. 

In all ways, I have been a good, loyal and reliable paying customer of Chase. It is unfair, abusive and bad form now to have my account closed when the following three facts exist : 1 ) The account was closed for my credit history being " too short '' ( XXXX to XXXX ). Yet, my account was opened when my credit history was HALF as seasoned as it is now. 
2 ) My credit limit was INCREASED in late XXXX or early XXXX from {$10000.00} to {$14000.00}, and yet my credit at that time was still shorter than it was two weeks ago when " too short '' was given as the reason for closure. 
3 ) I have kept the account in good standing and used it in such a way so as to be a profitable customer for Chase. 

Finally, I have had since XXXX, multiple business lines of credit that do not appear on my credit report that have all been paid satisfactorily, with zero late payments, and loan amounts in the tens of thousands of dollars each time. I am a good and strong credit risk, and a profitable customer for Chase. If reopening my account is possible, I would suggest that it is a pretty safe bet, and would be a terrific act of good will.

Company response to consumer: Closed with explanation