If you are like me, you keep a few spare credit cards for an emergency. Had I known this would happen, I would have used some of them periodically. Today I was canceled without notice on a card I have had for 25 years. It was my first credit card and had at least a $10,000 credit line.
You would think they would have sent me a warning letter first or asked me what was up. No. Chase Bank (JPMorgan Chase) just canceled my credit card. Bastards. I was never late with a payment or missed one in 25 years. I would have charged a few things had I known they were going to cancel it. They didn't give me miles, that is why I hadn't been using it.
My advice to all of you: Charge something on ALL your cards that you do not use often or else they will cancel you too! I think they are just looking for excuses to get rid of us.
Speaking of Banks that suck, what about the one that used OUR bailout money to buy out another bank?
P.S. A reader suggested I call and now I am "mad as hell at Chase Bank":
Reader: That was a mistake. Now I am as "mad as hell at Chase Bank" or should I say "mad as hell at JP Morgan Chase Bank".
I did call Chase Bank about the cancelation of my Chase Visa Card and I believe they suck and I believe that Chase Bank is a bad bank more than ever. Chase bank customer service was not helpful on the phone. Chase Bank did not care that we had a 25 year relationship. Chase Bank said that my account is closed and that is that no if ands or buts are accepted by Chase Bank. Chase bank said that Chase Bank does not send out courtesy letters to tell you the account will be closed for non-activity, they just close the account. I am angry at Chase Bank and by saying their name, Chase Bank over and over this is sure to show up in google: That Chase Bank Credit Cards Stink and that Chase Bank Sucks. I will not do business with Chase Bank ever again. I think that Chase Bank credit cards are a bad idea and I would not get a credit card from Chase Bank ever again. I still believe this is about my $10,000 line of credit I had with Chase Bank. I still believe that Chase Bank should have written me a letter saying that they were going to cancel my Chase Visa account first before actually canceling it. Just to make sure they see this: I will write their full name: J.P. Morgan Chase Bank stinks and J.P. Morgan Chase Bank sucks.
There is a blog called: Chase Bank Stinks, http://chasebankstinks.blogspot.com/
They say: Chase Bank is morally challenged and is doing what it can to maximize shareholder value without considering whom they are,,,
I Found this on another site called http://www.chase-sucks.com/:
Post From An Anonymous Chase Manhattan Bank EmployeePosted in September 3rd, 2008 by admin in JPMorgan Chase Unethical
I am employed by JPMorgan Chase, and work at one of the biggest branches they have in NYC. It’s considered a “MEGA-BRANCH”. The reason I am typing this post is because I KNOW EXACTLY HOW YOU ALL FEEL!! Imagine working for them! IT SUCKS! Everything that has been posted on this site, is something that I deal with every single day.
The worst part… Chase knows about it, but refuses to do anything about it. The reason the bankers are so pushy, and recommend specific things are because we make what are called “Personal Value Credits” or PVC’s. That is our commission. We open a checking account: 5 PVCs, we sell a Debit Rewards card: 7 PVCs. Credit cards: 17.5 PVCs. Loans and investments pay the most. Loans are 0.7 PVCs for every $1000 , so a $100,000 loan = 70PVCs.
This is why customer service is horrible… there is a tremendous amount of pressure for each banker to make at least 1150 PVCs. That is 100% payout. Over 1500 PVCs = 125% payout, and over 2,000 PVCs = 150% payout. If we don’t reach our goal of 1150, we get less than 100% of our PVCs. In addition, the managers will push us to stay late and call people at 5:30-8:30 PM to try and get someone to open a checking account, and do direct deposit.
Every quarter, we have “Campaigns” in which we are given a target number of new checking accounts that we have to open. My branch’s target for 3 months was over 1,000 new checking accounts. BUT the account did not count unless we sold another product such as Direct Deposit, a Debit Rewards Card, or a credit card that they generated a statement for that month.
Chase will do anything, at any cost to acquire their business… Ethical or unethical. It isn’t the banker’s fault. We have our jobs threatened unless we push the products they say, when they say. If we don’t food is taken off of our tables, and we can’t earn commission.
I work for Chase, and have still been charged over $1,200 in Overdraft fees which weren’t my fault. I’ve been told “you work at a bank… you should know better”.
With that said, I hope you all know how horrible of a company Chase has become since merging with BankOne. It’s just as bad to work for as it is to bank with.
And apparently others online report that they are not notified:
So after my interaction with Chase today (who I have a credit card with), let’s see how high I can rank for “Chase Sucks”.
I use my Chase Mastercard occasionally and always pay the balance off in full well before the payment due date. As I went to pay the card on-line, there was a vague “fee” for 35 dollars. I called Chase to see what it was as I never pay late. I always pay on-line, and I always have the payment come directly out of my bank account, which has more than enough funds to cover my small charges.
The woman informed me that they attempted to withdraw funds and the withdrawal fee failed. She didn’t know why. I confirmed the routing and account number with her. Both were correct.
I then asked why I was being charged if they couldn’t get the transaction to work. “Because it failed.” she said. So apparently, if they fail to get something to work, it is my fault and I don’t get a chance to fix it.
“Uh, so why didn’t you inform me before charging me a fee?”
“How would we do that?” she asked.
“You have my email address and my phone number.”
“We can’t do that.”
Finally I found this under Boycott Chase Bank:
http://www.timeforblogging.com/2007/04/19/boycott-chase-bank-and-learn-what-not-to-do-in-customer-service/
Boycott Chase. Sounds pretty extreme, right?
I just don’t know what companies are thinking these days.
How Chase Bank Has Forgotten About the Customer
I had a call into Chase about an issue with my credit card the other night and couldn’t believe what I heard. My discussion with a customer service representative was not going where I wanted it to, so I asked to talk to a supervisor. ( GENIUS HERE: I WAS TOLD THE SAME THING) I was told that there was no supervisor to talk to, but if I wanted to, I could just give her my number and she’d have someone call me back. I found this to be quite interesting (no supervisor? come on!) and tried to reason with the rep to have someone with any authority get on the phone, but got the same thing . . . nothing.
From there, I went on to tell her that I was a loyal customer for around 13 years and was just not happy with the service I was getting. Want to hear the response?
“If you’re not happy, then I’ll close your account for you right now”
Really?!?
“I just told you I was a loyal customer for 13 years and you’re telling me to close my account if I’m not happy?”
“Yes, sir. Do you want me to close it?”
(I took notes, because I was so surprised by this response)
I don’t know about you, but I don’t think companies are in business to chase away their customers, do you? Somewhat stunned, I got off the phone and waited for morning to call back and talk to a supervisor. When I got on the phone with a supervisor (after telling the customer service rep I was calling about bad service), it happened again! I explained that I was not happy with the service I recevied and was almost instantly told that if I wasn’t happy then she would close my account . . . she almost begged me to do so.
In a daze, I laughed and asked if this was a big joke. It was not. Not only was it surprising in content, but in tone as well; she was simply nasty to me. I was told that the company now had a policy which requires customer service and their supervisors to close someone’s account if they don’t like the service they are getting.
Apparently, Chase has established a policy where they send away people who aren’t happy with their service. There is no attempt to rectify the situation. They just want you, the problem, to get lost.
Why waste their time keeping someone happy? There are plenty of other customers to rip off on both ends of banking (low savings interest rates and high borrowing interest rates).
With this situation in mind, I’m asking you to boycott Chase. It is the customer that comes first, and if they are too lazy to give good service, then they don’t deserve to have any customers, plain and simple.
What Can We Learn From This Situation?
Customer service is Paramount! If you treat your customers like crap, there will be a backlash against you, especially in the days of the internet. If you treat them well, they will tell their friends and you will only see positive results! With so much choice (except when it comes to cable TV & telephone providers), we, the consumer, have the power to not only choose another, better, option, but also to tell the rest of the world of our experiences.
GENIUS: AFTER READING THESE COMMENTS, I THINK THAT CHASE OR J.P. MORGAN CHASE WANTS TO GET RID OF GOOD CUSTOMERS, THAT PAY ON TIME AND DON'T MAKE THEM ENOUGH MONEY. WHAT DO THINK? IF CHASE BANK DIDN'T CARE ABOUT A 25 YEAR CUSTOMER (ME) AND A 13 YEAR CUSTOMER (ABOVE), WHO DO THEY CARE TO KEEP? THOSE THAT ARE PAYING 30% INTEREST, ON THE VERGE OF BEING BANKRUPT?
14 comments:
Genius , aren't you at least going to call them and what they have to say?
You would think they might be more willing to keep folks with no balance to level out the risk of the folks who carry a large balance?
But then maybe they just don't want to bother because they aren't making any money off your account.
I'd also be curious to see how the cancellation is reflected on your credit report a few months from now .
I think they are more afraid of the $10,000 plus credit line.
Taxpayers bail out the banks to increase credit flow , banks immediately deny taxpayers credit.
Wamu just did this to us, too.
Wow Amo can you elaborate
My kid has perfect credit... an accomplishment for mid 2o's age person... She moved and her chase bill did not catch up with her and she did not have the account # as it was a new account through a store nor did she have a due date.
She makes double payments on most of her debt. This past week she went to purchase a large ticket item and discovered that she was being offered 15% interest because of her credit. When they checked it, it showed Chase listed her 30 days past due on a $85 balance. Chase denies that they did that on 30 days even though the credit reports show it. The Bad Fairy must have done it????
Other than she refused to buy the item because of the interest rate, she is pissed at chase for lying to her and on top of that, reporting her for something that was beyond her control. That 30 day lateness was the only late on five years worth of credit.
To be honest, it the credit companies/banks are doing that to her... with all my late payments I probably could not charge an ice cream cone. (I am very bad about remembering to pay bills...even with company reminders)
This is happening quite often nowdays. I had a credit card with about $5000 line. I had used it before to buy books for school, but 5 or 6 months had elapsed without charging anything to it. I received a letter stating that my credit line was being reduced to $300.00. I worried about perhaps having the number stolen and used, and called the company for an explanation. Well, it took a lot of badgering from me and several people to speak to in order to get the answer I needed: basically they used the fact that nothing was purchased on the card for some time to use as an excuse for such lame action. I was so angry that I cancelled my account with them, and made sure I have no dealings with them anymore. BTW, my credit is perfect, I have always paid bills on time (in fact, I did not start to build on my credit until 5 years ago - hated credit cards), and for being a "good" customer, this is what I get in return.
They just did this to me too. Two accounts with $30000 total available credit that I had over ten years. I called them up and got blown off. So I e-mailed them and got the same response in e-mail. They get bailout money and close off available credit. Like you I like to keep a couple of high limit cards for an emergency, guess if I charged the max and went bankrupt I would be one of their "good" customers.
I wonder what the impact of having these credit cards will be on my credit score. Chase sucks.
Thanks readers keep them coming. I wrote to the CEO of Chase and I sent him my credit cards too. I was so pissed. I will let you know if I hear back. I also sent my blog about them to a few people I found on their website.
They did you a favor. The best way to stick it to the banks and credit card companies is to NOT USE THEM. Pay off your credit cards and then cut them in half. Save up and buy your next auto with cash. If you have a credit card with zero balance, pay it off every month--leave them no way to make money except the transaction fee. And you can take that away by paying cash.
If possible, pay off your mortgage early; or just rent and opt out of the "ownership society i.e. debt serf" scam. Move your funds to an online account like Ameritrade; leave nothing in former investment banks' accounts for them to manage and leverage.
Stay away from these companies, they are fooling around with peoples lives and could care less. They should be ashamed of themselves with the interest rates they are charging especially after taking our tax money in bailouts. --- No morals or ethics. I can not even begin to tell you the amount of distress they have caused in our lives. We have been customers for over 10 years and they have raised our interest rate above 20%. Mind you we have never missed a payment on anything in our lives in over 10 years and have an excellent credit report and score.
I can not warn you enough about them, especially if you are young...do not put your trust in them-stay away! In my opinion they are powerful, legalized loan sharks that have lobbied congress with payoffs and have stacked the deck in their favor. Anybody paying these companies over 20% needs to stop making payments to them...they can't sue us all. The government has made some changes to the laws but that will not take effect until 2010...until then these parasites will continue to make up their own rules and ruin people, sucking them dry of every penny possible...they don't deserve to be in business and should be allowed to fail...please watch yourselves.
I've never understood why people get credit cards in the first place. I'm a 26-year-old college student, have never wanted or had a credit card in my life. I rent and take the bus or bike everywhere. I had an expensive medical emergency once, and I just worked out a payment plan with the hospital, $50 a month with no interest, until I paid it off. I just don't understand why people bother with credit cards and these nasty companies, especially now that debit cards can usually be used for the same things as credit cards, like for car rentals and online purchases. The only dealings I have with my bank are a simple checking and savings account, no frills. In the future I might switch to a hometown credit union, because really, does anyone serisouly believe that big companies have YOUR best interests in mind? No! Why would anyone think that??
Boycott CHASE..... I closed my checking and business accounts with them, cancelled for credit cards ,they steeling money from people,these morgan banksters trying to achieve NWO
I worked as a supervisor at Chase credit card services. And I hated every moment of it. I did what I had to do to make ends meet. Cardmembers are given segments..best customer, valuable customer and non profit customers, if you are best you can request for almost anything fee waivers, reaging of acs, if you're valuable then you can get at least 1 waiver every 6 months and if you're not profitable then you can close your acc if you throw a fit at the csr.
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