In my posting yesterday I mentioned the action taken by Chase bank to abruptly close a credit-card account in good standing, without any reason except mentioning that it was closed based on information they received from the credit bureau and that they were not able to open the account again. I also mentioned I am one of those people who examine their credit-reports up close and also by my profession, know the risks of identity-theft and the impact it has. And believe me, my credit-report has been marvellous, and a lot better even compared to the date I got this card.
An initial contact with Chase bank did not get me any closer to an answer. I am not looking for the card to be reinstated, I have lost all my trust with Chase bank immediately (if it is about my own earned money, a financial institution does not get any second chances) and will also move my checking account away from there. But what bothers me is simply the lack of reason, and the firm statement that there is nothing that Chase bank can or will do to provide me with a solution or answer.
I wonder how they would respond when I would decide paying the remainder of the balance on the card, without any reason. Well, we all know what will happen then; collection agencies, credit-score drops, revoking my mortgage (which, thank God is not with Chase bank) and making life simply horrible.
This is the basic part of dealing with banks. They are allowed to bend you over and sodomize you, while you have to take it with a smile. But there is no service in the other direction. This is one of the good things that they have taken care of in Europe, where banks are monitored with a national bank, who sets the rules, so that not a bank alone can take any action. But here in the US, things are slightly different.
What I worry about though is that such an action, that completely is not based on any solid information, might actually impact my credit score. And there is simply nothing I can do about it except filing a dispute. And a dispute is never in a hurry with a bank.
But Chase bank responded in more detail though. So I was so hoping that there might be a single person somewhere in that company that would take the time to sit down, and dig into the chain of command to find out what has been going on. Again, if it was closed because threatening behaviour of identity-theft, then all praise goes to Chase bank. But, they did not. At least, providing me without any information means in my vocabulary that that did not happen.
If there is anyone who has experienced similair actions from their bank (preferably Chase bank of course), drop me line. It would be time that banks took their financial responsibilities a little bit more serious.