Chase Bank...Again! Guest Blog by Youbetcha'

Chase is at it again. One minute they are taking away credit cards, the next minute they are helping create debt. Nice work corporate Gods. I suppose this means they have not finished screwing their customers.

In the recent months, Circuit City fell into the recession pit. Not surprisingly, Chase Bank must have held the debt on the Circuit City credit cards. This past week I received a two-page letter that informs me in that:

“We are pleased to inform about an important change we will be making to your Circuit City credit card account. Chase has arranged for you to be able to use your account at Best Buy for all your consumer electronics needs.”

Thanks, but NO thanks. I was content to allow my Circuit City credit account die with the company. It had no balance. I do not want to get into further debt for obvious reasons. Considering that Chase Bank ran around a short six months ago dumping long-time customers credit lines and cards, I find it annoying that they are back messing with my credit score by giving me credit without my knowledge.

This card will show as new credit applied for while the Circuit City card will still be lurking somewhere in my credit report as credit still extended. I still show JByrons and Burdines cards on my report, even though the companies are long gone. Of course, credit-reporting companies tend to include little notations that lower credit scores such “closed by consumer” or “closed by lender”. Apparently, neither notation is a good thing for a credit history.

So here I am, with two Best Buy card accounts (already had one), a lower credit score and desire to purchase a new car. Where does that leave me? Either with a credit denial on the car loan for having too much credit extended or a higher interest rate on the car loan because my income to credit ratio is out-of-whack.

At the bottom of page two, Chase gives new cardholders the “opportunity” to opt out. We can do that by calling the number on the back of the Circuit City card (if we still have it) or by writing them a nice letter telling them to close the account, we did not ask for to start with. Another notation on my credit history. Another few points taken away. Another something to remember to do in the next 30 days.

Thank you Chase Bank. You bring so much to my quality of life. Too much, in fact.