After being solicited by a Chase banker, we moved our corporation's checking accounts to Chase Bank in Garland TX. At the time the corporation's accounts were opened under the corporation's tax id, the Chase banker told us that the account came with a $10000 credit card with a zero percent interest balance transfer and asked if we would like to pay off any of the business' debt using this 12 month grace period.
We agreed, and the Chase banker prepared and completed all documentation on his computer at his desk, including the balance transfer information. (At no other time were any other charges made on this card).
A monthly payment was scheduled from the corporation's Chase bank account to pay this balance. Credit cards were issued and mailed to the corporation's officers, with the cards and correspondence all stating the name and the corporation name immediately below the name.
In June the corporation was forced to close due to ecomomic conditions.in December a phone call was received at the shareholder's home stating that the account was 120 days past due and reported on the officer's personal credit report as an individual credit card. The liability of the individual was contested in light of the fact that the card was issued to the corporation in connection with the corporation's bank account, and no personal guaranty was signed.
When I contacted the Chase banker, he assured me that he had set up the card as a business card. When I pushed him to investigate, he was told by Chase that they did not issue corporate credit cards to corporations earning less than $3.5 million per year. His response was that he had never been told this by Chase.
I personally attempted to contact Chase and was simply passed about from one credit collection department to another and despite an assurance by a very rude and condescending employee named Robin ID #CRE02N in the business lending department, that I would receive a call from her supervisor Melissa within "24-49 hours" no call ever came.
We were mislead by Chase and its employees to believe that the card was being issued to the corporation. Cards, correspondence and billing all indicate that the cards were issued to a representative of a corporation, but now we cannot even get contact information for their legal department to contest the liability.in the meantime, our personal credit is being slandered by Chase in an effort to force us to personally pay this account.
Its time to investigate if these deceptive trade practices are continuing, especially for Texas companies, if not others nationwide. Not only was the inducement of this credit card deceptive, but fraudulent as well. The Chase banker has apologized that he had no idea, other than the fact that it was set up by him as a business account. This however does nothing to remove this libelous information from our credit report.
P.S. I find it ironic that if we personally guaranteed this card, or if it was set up as an individual account, why Chase doesn't have our home information on file to send billing to us.
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