JPMorgan Chase & Co.

Beware of doing business with JPMorgan Chase & Co.

As a consumer who has had no late payments to this company (or any company) and a high-paying job that I have been at for over 20 years, I was shocked to receive in the mail a notice from JPMorgan Chase & Co. that "in response to market conditions, new federal laws and regulations, and our increasing costs" we are closing the above-referenced credit card account.

By the way, this account has been paid-off for two billing cycles and has a zero balance. It has never been paid late, nor have I ever exceeded the credit limit, and I have followed all of their 'terms of use' (as with all of my accounts)

Now my credit report is going to reflect an account that will be listed as 'closed at credit grantor's request', which is going to harm my FICO score for no reason.

Please think twice, even if you have good credit, about doing business with JPMorgan Chase & Co.

Comment On This

I wish i could close my Chase account. Do a search for Chase here and there are over 18 pages! January, 2010 Chase Doubled my interest rate for some change in policy I was suppose to have gotten in December, 2009. Because I didn't reply, the CSR told me it meant I ok'd the rate increase. How can I reply to something I never got? I thought one only gets rate increases if they are late on payments? I know I'm getting hosed by Chase, but all I can do is sit here feeling helpless, hoping the next payment I send in won't cause a tiff.