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Chase credit card account - CLOSED
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Posted by janetk (65.58.216.195) on April 26, 2002 at 19:40:40:
I have had a Chase Manhattan Mastercard for over 11 years. The account was never paid late during that whole time and the credit limit was raised and interest rate lowered several times. These changes were initiated by Chase and not requested by me. Recently, I was offered a balance transfer by mail and web site. Since I had around $3000 in higher interest balances, I took advantage of their offer. I was told my new credit limit would be $6500. I was able to successfully transfer several of my existing balances. However, I noticed that two of the transfers had not been completed in over a month. When I called Chase to ask what the problem was, I was informed that my account was closed and that the transfers would not take place. I was charged $29 for each time Chase tried to process the transfers (total about 6 times) and return check fees were posted to the other accounts. Luckily, I was able to make quick payments to avoid late payments problems with the other creditors. When I asked them why my account was closed, I was told that my usage and payment history with Chase was poor (completely untrue). They had the nerve to cite the numerous returned check fees which they had caused by closing the account. Every request for a reason brought new form letters with wilder accusations of charged off Chase accounts and exorbitant outstanding credit balances. I obtained copies of credit reports and requested that Chase validate their information, no reply. I was also told that they were just randomly checking the credit reports of their clients and closing them if there was even a hint of negative info. They will only reply to my requests by form letters and give the same canned answers by phone. Do I have any recourse with them? I now have a $5400 balance (albeit at low rates) on a card which I cannot use. They have reported the closure on my credit report as well. Suggestions welcome.
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