Consumer complaint received 2019-02-23
Product: Credit reporting, credit repair services, or other personal consumer reports — Other personal consumer report
Issue: Problem with a company's investigation into an existing issue — Difficulty submitting a dispute or getting information about a dispute over the phone
Company: JPMORGAN CHASE & CO. (CA)

On XX/XX/XXXX, at approximately XXXX, PST, I called Chase Business Credit Card Services XXXX I inquired about their 5/24 rule, consumers will be denied credit if theyve opened 5 new credit accounts within 2 years. I wanted to know if the same rule applied for business credit cards. The woman representative who answered my call, I cant remeber her name, said she was not familiar with that rule and shes never heard of it before, BUT she said, she has seen it online but shes not familiar with it. I said, so since youre not familiar with the 5/24 rule and you work in the business credit dept, it doesnt apply? She said, no, it doesnt. Based on Chases business credit card reps admonition whose job is to answer cardholders questions and potential card holders questions to the best of her ability, a decision was made to apply for their XXXX XXXX XXXX credit card and I was immediately declined. If I was given correct information from their business credit card rep, I would have NEVER applied for their card when I have opened more than 5 new accounts within the past two years. The decision to apply for Chases credit card was not wholly based on me. The decision was based on INCORRECT information received from a paid employee, who I assumed, was trained to furnish cardholders and non-cardholders with correct answers to their inquiries. Once I was declined, I called and spoke to another Chase representative. I asked WHY I was declined, she looked up my application and said I was DECLINED because I have opened 5 NEW ACCOUNTS within 2 years! I asked to speak to a supervisor to inform them of my experience with the previous rep who gave me false information that was used, trusting that it was correct, to apply for their business credit card. I waited on the phone for over ten minutes to speak with a supervisor and no one came back to the phone. I called again, at approximately XXXX, XXXX XXXX Chase Business Credit card answered my call. His customer service was not less than deplorable! He spoke to me in a condescending tone, lecturing and adding more aggravation to the issue. I asked to speak this his supervisor. XXXX did not immediately transfer me to his superior without adding more insult to injury. Supervisor XXXX came on the phone. His attitude and customer services was almost as bad as XXXX. Overall, I did not get the help I sought. I called Chase to ask that the credit inquiry be deleted from my consumer report, seeing that I was given incorrect information from one of their representatives. The incorrect information was used to help in the decision to apply for credit that I was was denied. If furnished with the correct information I would not have applied for their card. Now, there is a inquiry on my consumer report, without being offered credit. 

If a credit card company places an inquiry on your report and doesnt offer credit, according to : 15 U.S. Code 1681b- Permissible purposes of consumer reports ( c ) ( 1 ) A consumer reporting agency may furnish a consumer report relating to any consumer pursuant to subparagraph ( A ) or ( C ) of subsection ( a ) ( 3 ) in connection with any credit or insurance transaction that is not initiated by the consumer only if- ( B ) ( i ) the transaction consists of a FIRM OFFER OF CREDIT .... 

Chases inquiry was NOT followed by a firm offer of credit.