Consumer complaint received 2017-12-07
Company: JPMORGAN CHASE & CO.
State: IA
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 recently changed jobs and my new position requires quite a bit of travel. I have generally stayed at the XXXX Hotel Chain and desired to apply for the XXXX Credit Card as a way to maximize my points earnings with the chain and to earn additional points with the brand that I planned to frequent. I had previously held this card until Chase closed all of my credit card accounts on XX/XX/XXXX with no notice, citing too many recent inquiries and accounts opened on my credit profile, despite having a FICO Score of over 800 ( in the excellent category ), low debt utilization, and never a single late payment ( See Exhibit D - XXXX Credit Report from XX/XX/XXXX ). I had filed a previous CFPB complaint regarding that account closure in XX/XX/XXXX with the CFPB regarding Chase and it was resolved by the CFPB. Someone from Chase called and left a message while I was on vacation and when I called back I received that individual 's voicemail and left a message but she never called me back. The case was then administratively closed and Chase did not re-open any of my accounts. 

Knowing this previous experience had occurred back in XX/XX/XXXX I was hesitant to apply for another card from Chase. I reached out to Chase customer service in late XX/XX/XXXX and explained the situation along with my trepidation regarding another application and concern about a subsequent denial. I was told by the customer service representative that while the accounts were closed in XX/XX/XXXX that this would not negatively impact future credit opportunities with Chase and that they evaluate the credit profile at the time I apply for the card. Knowing that at the time I had a FICO score right around 800, a low debt level, and a perfect payment history with all of my creditors I decided to apply for the card ( See Exhibit D - Page 2 - XXXX Credit Report ). 

I applied online for the XXXX Card on XX/XX/XXXX and the account was approved instantly ( see Exhibit A that I received about a week later ). In this exhibit you can see that Chase granted a generous credit line and that they provided me with the lowest possible APR the card offered of 16.99 % ( See Exhibit B - Chase XXXX Account Pricing and Terms ). Exhibit B even reads that the rate offered on the account is " based on your creditworthiness. '' Clearly, my strong credit history commanded the best rate to be offered and resulted in an instant approval of my online application. 

I received my Chase card on approximately XX/XX/XXXX and at that time logged into my Chase online account to setup the card and get e-statements setup. At that time the online account showed as still being open and available for use. I proceeded to login on XX/XX/XXXX and noticed that my account was closed ; however, no notification was sent by Chase until I received a letter in the mail the following week ( dated XX/XX/XXXX ) - See Exhibit C. In that letter Chase noted two conditions that lead to them to close my account : 1. Too many requests for credit or / reviews of credit 2. This account and / or a related account was closed at the bank 's request It should be noted as described above that Chase auto-approved my application with the best rate and terms possible. It 's surprising that Chase 's system would automatically approve my application with the best terms possible and with a high line of credit and they subsequently close the account shortly thereafter. Clearly, Chase 's closure of my account was an error on there part. This is also the first denial of credit I 've had since first acquiring credit in XX/XX/XXXX, which only further confounds me as to why they would close the account when I 'm an otherwise creditworthy consumer with a perfect payment history.

Company response to consumer: Closed with explanation