JPMorgan Chase Credit Card Complaint

JPMorgan Chase Credit card department,

Closing/Cancelling account California

This request for assistance from the CFPB and JP Morgan Chase is being submitted based upon the fact pattern presented, in pertinent part, below. In -/-/-, I received a mail solicitation from JP Morgan Chase 's Slate branded credit card program ( hereinafter, Slate '' ) to apply for their credit card. The solicitation offered several strong inducements to apply for the card, including the transfer of existing credit balances at other companies with a 0 % interest rate for 15 months. Upon receipt of my application in -, - ran my credit background and approved the card. On -/-/-, - provided an email notification that the new card was on the way. '' Indeed, it was received shortly thereafter. - also offered to increase the credit balance, based upon my good credit history. In reliance upon their offer, I transferred balances that I held at other companies to the card, which I understood included a percentage


reputational risk. '' Representatives from - could give no further information, but did indicate that such letters are sometimes issued when there is rapid credit utilization on a card. However, - of the prime reasons for obtaining the card was in fact *precisely* to utilize the credit in order to apply the favorable rate of financing advertised. It now seems that because I utilized this offer as advertised, the offer and the card are being cancelled. Curiously, I received another email ( dated -/-/- ) indicating that my ... enhanced Chase - card is on the way ... '' The revocation of the card seems arbitrary, unwarranted, and creates hardships as a sizable balance must now be once again transferred - likely back to the original institution. Moreover, the actions have the potential to create material harm in the form of unnecessary '' transactions in my credit report ( performing the initial credit check, increasing the balance, and then cancelling the card within a short time frame, with no exhibition of inability to pay, or defaults of any kind ). - I respectfully submit this request for review and assistance in investigating the matter further. Very Truly Yours