Consumer complaint received 2023-06-22
Company: JPMORGAN CHASE & CO.
State: CA
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 am writing to express my deep dissatisfaction with the recent closure of my credit card account with Chase Bank. I received a letter explaining the reasons for this action, which stated that my account was closed due to a rapid increase in revolving balances, too many requests for credit or credit reviews, and too many accounts opened recently. However, I believe there has been a grave misunderstanding, and I would like to provide you with some crucial information to rectify this matter promptly. 

Firstly, I would like to highlight that I previously held the same credit card from Chase Bank approximately four years ago. When my visa expired and I completed my college education, I responsibly closed all my bank accounts and credit cards before leaving the United States. I made sure to settle all outstanding balances and diligently paid every dollar owed to Chase Bank. It is important to note that there were no outstanding debts or delinquent payments when I left the country. 

Regrettably, upon my return to the United States and choosing to bank with Chase again, I encountered numerous difficulties in utilizing your services. I experienced considerable challenges in accessing various products, including my checking account and credit card. Chase Bank insisted on verifying every transaction and activity, even those that had been previously verified. This redundant verification process consumed a significant amount of my time, often requiring me to spend over an hour on the phone with Chase Bank representatives on a daily basis. It is worth emphasizing that these transactions were of minimal value and posed no risk or cause for concern. Since I have closed all my credit cards, I need to get few credit cards to buy furnitures and shop around for everything, also I am shopping around for the new vehicle and I am looking for an auto loan, thats why there are some credit reviews on my credit report. 

I find it grossly unfair that my credit card account was closed despite my utmost efforts to cooperate with Chase Bank 's verification procedures. I diligently completed each verification promptly, and I sincerely believe that all necessary steps were taken to establish my credibility as an account holder. The closure of my credit card account without any prior notice has placed me in an extremely inconvenient position, affecting my financial stability and causing unnecessary distress. 

Therefore, I kindly request that you reopen my credit card account immediately. I have been a loyal customer of Chase Bank for several years, and I have always maintained a responsible and exemplary financial record. I trust that Chase Bank will rectify this situation promptly and reinstate my credit card account, allowing me to continue benefiting from the services you provide. 

I anticipate a swift resolution to this matter and request that you inform me of the actions taken to address my concerns. I expect a written response within 10 business days from the date of this letter. Thank you for your attention to this matter.

Company response to consumer: Closed with explanation