I got a letter today from Chase bank stating that they were closing my credit card account b/c the balance grew too fast. The odd part is that the only way my balance has grown recently is through interest charges and I’ve paid more than minimum every month. The really interesting part is that this is one of three credit cards I have from Chase and this just happens to be the lowest interest one (I’m sure that had nothing to do with their decision). I don’t know how this will effect me as far as my credit score goes or if they will continue to charge me interest. I’m guessing that this will force me to use a debt negotiation company to settle for 50% or less, I had planned to pay in full but if they screw with me I have no problem screwing them back. I am disappointed in Chase, they were my favorite bank and I was planning on paying my debts in full, oh well, what can I do?
David
Hey it seems like this is how chase does business.
Today I went to chase and was talking to my banker.
He let me know that they closed my account,and that I owe $450.00 dollars.I asked for the details,Apparently about 200.00 was billed automatic from a gym that I did not authorize and 250.00 dollars were fees from chase.Being the great bank that Chase is they were willing to remove one 39.oo fee.Well you can goes what i told them to suck.
This is pretty common actually. I would call them. The part about closing the lowest interest card sounds a bit funny to me.
[...] Chase Bank Closed my Credit Card [...]