Consumer complaint received 2016-05-29
Product: Credit card — 
Issue: Closing/Cancelling account — 
Company: JPMORGAN CHASE & CO. (NY)

XXXX XXXX XXXX CEO Chase Card Services c/o Executive Office XXXX XXXX XXXX XXXX 
XXXX, OH XXXX Re : Freedom Account Ending In XXXX Dear XXXX XXXX, I am writing in regard to your notice dated XXXX XXXX, 2016, and in up to conversations held with Customer Service and with Branch Manager XXXX XXXX. 

As a long term Chase cardholder, I am shocked and appalled by the response I received to my request to retain my Chase Freedom card. The employees I spoke with claim that the closure in response to inactivity, but have refused to renew the card on the basis of account activity after the date of your notice. In addition, they claim that Chase 's decision not to renew the account will not negatively impact my credit, despite the fact that it will reduce both the length of my held accounts and my DTI, therefore lowering my credit score. 

Chase argues that its actions are not an adverse action because the account is being closed due to inactivity. However, refusal to consider activity after the date of the notice when the account continues to remain open for an additional two months renders the argument specious. Clearly, Chase has decided to end the account regardless of any activity. Therefore, the decision is an adverse action, though no adverse action notice has been issued. 

Even if Chase is successful in defending its actions under Regulation XXXX, Chase 's actions constitute a UDAAP. Specifically, they meet the definition of an unfair practice. Per the Dodd Frank Act, an act or practice is unfair when : ( 1 ) It causes or is likely to cause substantial injury to consumers ; ( 2 ) The injury is not reasonably avoidable by consumers ; and ( 3 ) The injury is not outweighed by countervailing benefits to consumers or to competition. 
In this case, Chase 's actions are likely to cause substantial injury because it will negatively impact the length of my credit history and my DTI, resulting in a lower credit score. The injury is not reasonably avoidable since Chase failed to provide any notice of its intent to close the account if I did not begin using it, and refuses to renew the account on the basis of activity between the notice date and the date of the existing card 's expiration. In addition, several Chase employees have offered me the opportunity to apply for a new card to replace the XXXX schedule for closure. The opportunity to apply for a new account, even with the same credit line, does not mitigate the injury to my credit since a long established account provides different benefits than a new account. Finally, the injury is not outweighed by some countervailing benefit. Surely, Chase can not reasonably anticipate any benefit to itself or its customers by instituting a policy that results in replace existing, long term card accounts with new card accounts held by the same consumer. 

I again request that Chase maintain my account. Should this request be again denied, I intend to obtain legal counsel to protect my financial interests. 

Sincerely, XXXXXXXXXX CC : Consumer Financial Protection Bureau XXXX IA XXXX