Chase closed my (used to be WaMu) credit card....

[DaveClan]

Chase closed my credit card account also. The card was formerly a WaMu card. I ran across this thread before I was aware that the account was closed, and tried to donate $1.00 to check the status. Card did not go through, so I automatically knew what was going on. I called Chase, and they tried reading some canned response to me. I cut her off, and let her know that I knew what was really going on. "A letter was mailed to you on July 14th," I was told. I asked her if the letter was mailed from Iran since it was the 22nd and still no receipt.

I had a zero dollar balance at the time the card was closed. I have charged over $10,000 this year (wedding) and paid in full each month. She said my account was considered a risk. What a croc...

Yet my wife, who had a WaMu card before we were married with no job/income, was given a $7,500 credit limit and carries a sizeable balance each month; her card is still active! Interesting. If by risk, they mean that I'm the bigger risk to not default on payments then I suppose they have a case.

This card was about to go over the 3 years needed to be positively viewed on my credit report, and also had the largest limit of all my credit cards. I'm none to happy about how this account will negatively affect my rating. B__T_DS.

 

[manhattan]

I came home today to a letter from Chase stating they are raising the interest on my Disney Visa. I'm so sad.....I have a feeling that even with my excellent payment history with CHASE itself (not to mention Pro/WaMu) this one will be closed soon. I'm going to cash in my rewards and just wait. It does say I have until October to decide, hopefully I'll the balance paid off by then.

Same here. My DH has a card with Pro/WaMu/Chase and he had a 7K balance at one point, so I paid it off. Couple of months later he goes to buy something for a little over $100 and we find out that his limit had been reduced to $100. I don't understand these companies

 

[cmaee]

I haven't had any trouble with my WAMU turned Chase cards yet. I am sure YET is the key word there. I did go ahead and cash out my rewards last night. I didn't want to lose them if this account gets closed.

 

[PoohsFriend1]

I just rec'd my letter yesterday, raising the interest and lowering the limit from $6500 to $1000. I usually used this card for small purchases, the balance had not been over $500 in the last 2 years, and I always paid in full. So another person penalized for being responsible. I think I have had this account since 2005. Anyway, I called them and told them I reviewed their company and they could just close my account. My husband also had a Wamu account w/ no balance that was closed by them, and I still have not rec'd any notice. He also has a Chase account that has not had any changes yet.

 

[mom2twinz3]

My husband got his letters today, closing both of his cards (WaMu/Chase). Never late in 4 years. This will hurt the credit rating big time. I just hope the other cards don't react to this and close accounts too, but they just may. This really stinks.

 

[natenapril]

I haven't had any trouble with my WAMU turned Chase cards yet. I am sure YET is the key word there. I did go ahead and cash out my rewards last night. I didn't want to lose them if this account gets closed.

I think I am going to cash out my Disney Visa rewards and buy a gift card with them. Better safe than sorry

 

[McKelly]

I think I am going to cash out my Disney Visa rewards and buy a gift card with them. Better safe than sorry

Can you even do that? Buy a gift card with your rewards card?

 

[HsvTeacher]

I haven't had any trouble with my WAMU turned Chase cards yet. I am sure YET is the key word there. I did go ahead and cash out my rewards last night. I didn't want to lose them if this account gets closed.

My DH's WaMu to Chase card was closed. I still haven't received anything saying my WaMu to Chase card has been closed, so as far as I know it's still open. Both accounts are still shown as active when I looked online.

 

[ClarabelleCowFan]

Got our letter today. It also stated that our credit had been reviewed on Experian so we are going to check that.

I had to laugh because one of the reasons they listed for the closure was that we had an excessively high balance on the card. The highest balance that card has EVER had was $385. Payments have never been late and have always been more than the minimum.

What a joke.

 

[Boston Tea Party]

I find it interesting that so many of us had recently paid off/down the card...

 

[4fosterkids]

Wow...what an alarming thread!
I am a long time Providian/WaMu/Chase card holder. We are just about to finish paying off a purchase we made a few months ago and were just talking last night about various banking, credit card and reward card topics. We are part of the Downey Saving's buy out from US Bank and are not happy with those changes either. We also had Chase as our home loan and LOC 2 years ago....and they abruptly cancelled our line of credit just as we were starting a kitchen remodel. We refinanced shortly after that and dumped them, but I had no choice with my Prov/WaMu acct being sold to Chase
Do I wait for the "letter" or just cancel it now?
I can't believe how many people this has happened to!

 

[Boston Tea Party]

Do I wait for the "letter" or just cancel it now?

If I could do it over, I would want DH to close it so that it appeared as closed by consumer on his credit report.

This whole things really make me mad. It is such a poor way to do business.

 

[Aristomommy]

I just looked at my chase statement online and looks like my old WAMU card is still open. With the statement I did get an insert with new terms for the card and one of them states that I will forfeit all rewards accumulated if they close the account. So I would suggest cashing out all rewards just in case they close any more cards.

 

[natenapril]

I find it interesting that so many of us had recently paid off/down the card...

That's why I really think I will cash in my rewards for even my disney chase. I had a $4000 balance and now only owe about $300. I may be next

 

[KT27]

Count me in..mine was also closed.

 

[rmom50]

 

[phamy76]

I was told it looks better on your credit report in this order.

1. pay off the balance and close it yourself (best scenario).
2. close the account, then pay off the balance
3. THEY close your account.

 

[J3nn78]

Add us to the list. I am FURIOUS!
We were on vacation this week. Bought gas and dunkin donuts on Tuesday. Checked card balance and we had more than 50% of our available credit open. On Wednesday went to the pharmacy to get meds for my DS and it was denied. Thought it was maybe a malfunction of the machine. Paid cash and moved on. Again, checked balance to make sure the card had not been stolen(just happened to my dad). Same balance available as day before. Yesterday we went to use it for a $25 purchase at walmart and denied again.??? I checked the balance again and it was still showing the same available balance. I even checked for alerts-None
So DH tried calling and got a run around about his birthday and social not matching? ***? They also, would not attempt to figure it out because we were not calling from a phone number on file! We were on vacation! Found that our old cell (still in my glovebox) was on file. Called from it and they told him the account was closed.

I am fuming. We have had this card since in WaMu. We always paid on time and in full every month. We were planning on using this card (our only one) for our room charging in a few weeks. Can you imagine if they canceled in the middle of our disney trip? How would that work if we had racked up room charges and the card was closed sometime during our trip?

I just don't get how they can treat the good customers this way?

 

[southcarolinagirl]

Thanks to this thread, I check DH's card...we paid it in full in June, July statement came with small finance charge, paid that. Statement showed over $14K available credit, now has $3600! That will put a damper on his credit score! Question, this is the information that shows on website, but he never received a Chase card (I thought it was because his WAMU hadn't expired) should I have him call to check. We weren't going to use it anyway since they had raised the interest rate too high. BTW, this card is his oldest, dates back to Providian. Never late, always paid more than minimums. Just makes me so mad, haven't received any notification from me at all!

 

[Boston Tea Party]

Thanks to this thread, I check DH's card...we paid it in full in June, July statement came with small finance charge, paid that. Statement showed over $14K available credit, now has $3600! That will put a damper on his credit score! Question, this is the information that shows on website, but he never received a Chase card (I thought it was because his WAMU hadn't expired) should I have him call to check. We weren't going to use it anyway since they had raised the interest rate too high. BTW, this card is his oldest, dates back to Providian. Never late, always paid more than minimums. Just makes me so mad, haven't received any notification from me at all!

Come to think of it, DH never got a Chase card either. He was just using the old WAMU one.

On his account on the website it showed open. Let me check it...

yep, even three or so days after being declined, calling and confirming that it was closed, it STILL shows available credit on the website login. Unbelievable.

OH, and still no letter...