Consumer complaint received 2025-03-11 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Closing your account — Company closed your account
Company: JPMORGAN CHASE & CO.
State: PA

Complaint narrative:
Good morning. 

I am writing to formally request that Chase Bank reconsider its decision to close my credit card account due to inactivity, a decision implemented just one week ago. I opened this account for responsible credit building for my XXXX  XXXX and I, and it has remained in good standing throughout its existence. 

Closing an account in good standing due to inactivity, imposes a negative consequence on responsible financial behavior. 

A credit account should reflect a consumers financial responsibility, not be used as a mechanism to penalize them for strategic financial decisions. In the United States, every individual, from high-ranking executives to everyday citizens, relies on a fair and accurate credit score. The automatic closure of an account in good standing results in an unnecessary and avoidable adverse impact. 

Consumers have the right to manage their own financial instruments, particularly when those accounts are in good standing. The unilateral closure of my account due to inactivity, without delinquency, misuse, or overextension, raises concerns regarding the balance of power between financial institutions and their customers. Financial institutions are not to supersede a consumers right to maintain access to an account the consumer opened in good faith and is in, and has maintained, good standing. This lack of consideration for consumers financial choices not only affects credit utilization ratios and length of credit history, both critical components of credit scoring, but also creates an undue burden on responsible consumers who retain the right to determine when and how they use their credit. 

The Fair Credit Reporting Act, FCRA, was enacted to ensure fairness, accuracy, and privacy in the reporting of credit information, protecting consumers from unwarranted negative impacts on their creditworthiness. The decision of Chase to close my account, despite its good standing, negatively impacts my credit score, a consequence that is greatly disproportionate to the fact that I chose to exercise maintaining a good standing and restraint in using credit, choices that are legally and solely mine alone. Further, the Consumer Financial Protection Bureau, CFPB, emphasizes that consumers have all rights to manage their own financial decisions. The ability to keep an open account, free of misuse, remains within my discretion as the account holder, rather than be dictated by a unilateral action that does not account for individual financial strategies.

Chase did not initiate this account on my behalf, I, as a consumer, applied for and was granted access to this financial tool. Therefore, I, not Chase Bank, retains the right to determine its continued existence, barring any financial misconduct on my part. Closing an account without consumer input, particularly one in good standing, undermines the fundamental principle of consumer financial autonomy. It is an issue of fairness, balance, and proper recognition of the rights of account holders. 

I respectfully request that Chase reinstate my account to restore my ability to use the financial tool that I opened and maintained responsibly. I trust that Chase values its customers and their financial wellbeing and will take this opportunity to reconsider a decision that has lasting implications. 

Thank you for your time and prompt attention to this matter. I look forward to your response. 

Best, XXXX

Company response to consumer: Closed with explanation