Consumer complaint received 2017-06-22
Company: JPMORGAN CHASE & CO.
State: CA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Other features, terms, or problems
Sub-issue: Other problem

Complaint:
Chase Credit Card issued a proposal of changes in the terms of the existing credit card holders on their balance transfer fee which was increasing from 3 % to 5 % in XXXX XXXX They stated that consumers may write to their XXXX XXXX to reject the changes - NOT clearly stating that such option equals a request for account closure.
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Instead of me writing a physical letter I stated on an email that I would not like to have the new terms apply to my account : You have informed me that you are proposing changes to my account terms including raising the balance transfer fee from 3percent to 5percent.
I REJECT the proposed changes. Please notate that to my account.
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Date : XXXX XXXX From : Chase Card Services Subject : Re : Account Inquiry Message : Hello XXXX, We appreciate you writing to us about the 'Change in terms ' notification received for your Chase Ink Cash account.
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As you wish to reject the change in terms for the balance transfer transaction fee, we have noted your account ending in XXXX and your account has been closed. Please destroy all cards and checks associated with this account.
Remember to contact any merchants with whom you have authorized recurring charges to this account and make alternate arrangements.
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An update will be sent to the credit reporting agencies advising that the account was closed at your request.
Please allow up to 45 days for changes to be reflected on your credit report.
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If you need any other assistance, you can send us a secure message. We appreciate your business and thank you for choosing Chase.
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Thank you, XXXX Chase Email Servicing XXXX Date : XX/XX/XXXX XXXX From : Chase Card Services Subject : Re : Account Inquiry Message : Hello XXXX, We understand your concern about the closure for your account.
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When you rejected the new terms, we closed the account as it can not be kept open with old terms. The previous annual percentage rate ( s ) ( APR ) from your Cardmember Agreement will no longer apply. The new APR in your Change in Terms notice is now in effect. Hence, if you wish to reopen you account, you are required to accept the changes to the terms.
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Here 's what you should know about your closed account : - Please destroy any cards and access checks associated with this account.
- You 'll still receive monthly billing statements as long as a balance remains on the account.
- You must continue to make the minimum monthly payments.
You can also pay the balance in full.
- Please inform authorized users that the account is closed.
- If you use this credit card for automatic payments, please make other payment arrangements with those merchants.
- We 'll send an update to the credit reporting agencies letting them know that the account is closed and that you asked us to close it as you rejected the change in terms.
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We appreciate your business and thank you for being a Chase customer.
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Thank You, XXXX Chase Email Servicing XXXX Date XX/XX/XXXX XXXX From : Chase Card Services Subject : Re : Account Inquiry Message : Hello XXXX, I understand that you wish to reinstate your Chase Ink cash account.
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I regret to inform that we are unable to reinstate the account. When you rejected the new terms, we closed the account as it can not be kept open with old terms.
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The promotional offer for access check balance will remain unchanged. The promotional 0 % Annual Percentage Rate ( APR ) on access check balance is good until the first day of your billing cycle that ends in XX/XX/XXXX
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We appreciate your business and thank you for being a Chase customer.
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XXXX Chase Email Servicing XXXX We regret any dissatisfaction this may cause.
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If you need any other assistance, you can send us a secure message. We appreciate your business and thank you for choosing Chase.
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Sincerely, XXXX Senior Service Specialist XXXX Ext XXXX Furthermore, I found that we received your request to close your account on XX/XX/XXXX with your request to reject the Change in Terms sent. Therefore, I determined that the account was closed at your request and not that of the bank.
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I sincerely apologize for the inconvenience this may have caused you.
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XXXX, if you have any other questions or concerns, you can call the number below or send us a secure message. We appreciate your business and thank you for choosing Chase.
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Thank you, XXXX  Chase Email Servicing XXXX The next day, with no further confirmation of the drastic step taken, my account was closed with a balance of less than {$10000.00}. Chase did not want to hear another word after sending over 20 messages pleading for my account to be reopened, that I will embrace the new changes to the terms as long as my account is kept open ... Calls to escalation, time loss from work and my XXXX as a sole woman XXXX
This is not right.

Company response to consumer: Closed with explanation