I will make this short and sweet. I began with Providian, then WAMU, and finally Chase! No choice of my own, and now have no other choice due to capping of limits, interest rate hikes and penalties for finally deciding to not deal with them any further. I have never had a missed or made a late payment, always paid the minimum or more and my credit to debt ratio was good, until Capitol One cancelled cards for not being used, of which I was not informed until it was too late. This prompted Chase, along with the non-credible information supplied by the great foreclosure meltdown advocate, "Experian", to further punish my credit rating ad interest rate.
I am including an excerpt from one of the computer generated responses from Chase that I find very questionable and deceptive. This warrants some investigation and possibly a class action lawsuit based upon the responsibility of either Chase or Experian, or both... It appears to be a complete contradiction... Forward it on and see if others interpret it the same way that I do. Especially the segment of 2 sentences that I have placed in quotes!
ORIGINAL MESSAGE
Dear.
We regret your dissatisfaction with the credit line decrease assigned to your account ending in...
"Our credit decision was based in whole or in part on information obtained in a report from the consumer
reporting agency listed below. The reporting agency played no part in our decision and is unable to supply
specific reason (s) why we have denied credit to you."
Experian: (888) 397-3742, P.O. Box Allen, TX 75013
You have a right under the Fair Credit Reporting Act to know the information contained in your credit file at the
consumer reporting agency. You also have a right to a free copy of your report from the reporting agency, if you
request it no later than 60 days after receiving this email.in addition, if you find that any information
contained in the report you receive is inaccurate or incomplete, you have the right to dispute the matter with
the reporting agency.
Please keep in mind that according to your Credit Agreement, we can amend the terms of your account at any
time. We will notify you of what these amendments are according to the requirements of applicable law.
Additionally, upon submission of your original application, you agreed that we may request consumer
credit reports from one or more credit reporting agencies in connection with your application and the administration
of your account. You also authorized us to exchange credit information concerning you, or your account, with others, such as merchants and credit reporting agencies.
If you have any questions or concerns, please contact our Customer Service Department at 1-800-955-9900. Our
Customer Service Department is available 24 hours a day to assist you.
Account is owned by Chase Bank USA, N.A. And may be serviced by its affiliates.
The Federal Equal Credit Opportunity act prohibits creditors from discriminating against credit applicants on
the basis of race, color, religion, national origin, sex, marital status, age (provided that the applicant has the
capacity to enter into a binding contract); because all or part of the applicant's income derives from any public
assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit
Protection Act. The Federal agency that administers compliance with this law concerning this creditor is the
Office of the Comptroller of the Currency, Customer Assistance Group, 1301 McKinney Street, Suite 3450,
Houston, Texas 77010-9050.
We comply with Section 326 of the USA PATRIOT Act. This law mandates that we verify certain information about you while processing your account application.
If you have any further questions, please reply using the Secure Message Center.
Thank You,
Portfolio Lending
1-800-955-9900
Account is owned by Chase Bank USA, N.A. And may be serviced by its affiliates.
The Federal Equal Credit Opportunity act prohibits creditors from discriminating against credit applicants on
the basis of race, color, religion, national origin, sex, marital status, age (provided that the applicant has the
capacity to enter into a binding contract); because all orpart of the applicant's income derives from any public
assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit
Protection Act. The Federal agency that administers compliance with this law concerning this creditor is the
Office of the Comptroller of the Currency, Customer Assistance Group, 1301 McKinney Street, Suite 3450,
Houston, Texas 77010-9050.
We comply with Section 326 of the USA PATRIOT Act. This law mandates that we verify certain information about you while processing your account application.
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