Consumer complaint received 2022-09-25
Company: JPMORGAN CHASE & CO.
State: VA
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 have been a loyal customer of Chase for 8 years and I had two credit cards with them- XXXX and Chase Sapphire Reserve XXXX In those 6 and 8 years, respectively, I have never missed a payment on my card. Yet I do carry balances on my cards and I used by Sapphire Reserve Card daily, so the company is gaining interest on my account and I am, in their eyes, a good customer. 

I work XXXX  for an XXXX XXXX XXXX Chase has my transaction history and can see that I have posted abroad since XX/XX/XXXX. In XX/XX/XXXX, I purchased an investment property and have been renovating it over the last year. To do so, I opened a new Chase checking account in XX/XX/XXXX to be able to wire myself money for the renovations to my international bank account, doing so in a Chase branch in-person and explaining to them the purpose of the international transfers. The Chase representative helped me to make the first international wire and made a note to my file. 

Over the course of the next year, I transferred approximately {$36000.00} in seven separate international wire transfers for home renovations from my Chase checking account to my international bank account. I never received any notifications about these transfers, indicating that there may be any problems or questions about these transfers. 

When I was home visiting family on XX/XX/XXXX, I was using my Chase Sapphire Reserve card in a shopping mall and the transaction did not go through. When I called Chase to inquire about the hold on my account, they notified me that Chase had ended their relationship with me, and that they had closed their two credit account and checking account with me, effective immediately. I was then travelling away from home without a valid source of credit without any advance notice. In one swift moment, Chase had removed my access to approximately {$46000.00} of credit, useful in cases of emergency and potentially damaging my strong credit rating. Chase refused to provide any reason for the closure of the accounts and only stated that the decision was irreversible. To date ( XX/XX/XXXX ), I still have not received a latter from Chase stating the closure of the accounts or its justification. 

After doing some internet research and hearing from others that have been treated so poorly and disrespectfully by Chase, my best guess is that Chase closed my accounts due to the international wire transfers. Why do they offer this service to then punish their clients for using them? If they had questions about my account or the legitimacy of the transfers, why didn't Chase reach out to me? I could have easily provided legal documentation for my property, receipts for the renovations, photo documentation, etc. 

Chase left me in a vulnerable situation while travelling. Chase gave me no advance warning about the closure of my accounts. Chase gave me no reason for the closure of my accounts. If they had, I could have easily and clearly documented my legitimate expenditures. Why do they offer international services if they are just going to mistreat their clients that intend to use them, leaving them in vulnerable situations and potentially damaging their credit ratings?

Company response to consumer: Closed with explanation