JP Morgan Chase - JP Morgan Chase - Hides behind their Cardmember Agreement

Posted on Tuesday, August 25th, 2009 at 11:45am CDT by e674ba60

Product: Chase Cardmember Services

Company: JP Morgan Chase

Location: Cardmember ServicePO Box 15077 Wilmington, DE 19850
Wilmington, DE, 19850, US


Category: Other

I have been a responsible member of WAMU for a very long time - they recently moved over to Chase. What a mistake. I have had nothing but trouble with Chase cardmember services.

First they charged me a $35 late payment fee because when my account changed over from WAMU they didn't get the payment info on time - I payed a week in advance! When ask to remove it they said they couldn't because it was in the Cardmember Agreement under "Late Payments". So even tho I payed ON TIME and it was THEIR system that screwed up the payment date I had to pay the $35!

Second: I had a credit limit of $13,000 with them. I had paid off my debt to them about three months ago. They just lowered my credit limit to $6,500! IT DAMAGED MY CREDIT SCORE! They only written reason they gave me is and I quote from the letter dated Aug. 19, 2009 "In a recent review of your account, we noticed that you have used only a limited amount of your credit line with us." When I confronted them with it all they would say and I quote from Rose the customer "service" SUPERVISOR - "It's in your cardmember agreement that we can do what ever we want with your account."

So if you are a responsible person who pays your credit card on time, with more then the monthly payment and pay them off they will damage your credit score, limit your credit and claim they can do ANYTHING with your account they damn well please all because it's in your "Cardmember Agreement".

I closed my account after that. Closing my account will do less damage to my Credit Score in the long run then what Chase Cardmember Services could do!

My advice - BOYCOTT Chase Credit!


43072e55, 2009-12-27, 01:01AM CST

I am not surprised that chase lowered the limit on your credit card after taking over from WAMU. WAMU's underwriting standards is why the bank collapsed. I cant imagine that lowering your limit by $6500 dmanaged your credit, it wouldnt probably have changed your score by more than 10-15 points. Closing the card out completely probably did 3-4 times the damage.

3b70739f, 2010-02-03, 11:27AM CST

In the 40 plus years of owning credit cards, I have never had a late payment.

I just received my bill with a $29.00 late charge with a finance charge of $6.17 due to lateness ON A $54.84 BILL! The charges doubled my bill! I pay off my bills monthly and do not pay finance charges. The bill was mailed to Chase on Jan. 17, 2010. It was due on Jan. 21st. Chase claimed they received it one day late on the 22nd. There is no grace period with these people. Thirty something dollars may not be much to some people, but we are older, retired and don't have substantial income or assets. I guesss we need to remove the word USURY FROM OUR DICTIONARIES. PS: the mail went from Central Florida to Delaware - usually a 2-3 day timeframe.

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