JPMorgan Chase Credit Card Complaint

Credit determination

JPMorgan Chase Credit card department,

Credit determination Illinois

Re : Chase Bank, - - -, - IL -Earlier this year my son ( - years old, no job, no income ) and I walked into this branch, where my wife and I have all of our accounts. My son requested a credit card, and the " banker '' asked me what my household income was. I asked my son to turn around, and I whispered to the " banker '' that it was in the " - figures ''. I told the " banker '' that I would not be a signer on my son 's credit card account, not as a co-signer, not as guarantor. The " banker '' assured me that I would not be responsible for his account. The banker DID NOT explain to me AT ALL that the " household income '' number that I gave him VERBALLY would play a major and primary role in determining the credit limit that they granted to him. I left the branch and my son stayed with the " banker '' to complete the application. I did n't sign anything, nor was I given any disclosures.


YES, that 's correct A - - - DOLLAR CREDIT LIMIT for a - year-old who has no job, no income, and NO ASSETS. As far as I am concerned the " Banker '' who filled out the application committed fraud because he did n't disclose to me the purpose of the " household income '' number and did n't tell me that it was going on the application. I consider the action by the bank to be predatory, outrageous, but unfortunately, I 'm not surprised at all. Chase wants him to run up a large balance, charge him 20 % interest and then he will be servant to him for the rest of his life. Another bank being such a good corporate " citizen '' helping a - year-old start his life in the hole .... Today, my son told me that he has a $5000.00 balance, does n't have the money to pay it, is very depressed over the issue and had not be able to concentrate on his life for the past month or so. I called Chase and asked them to withdraw the " household income '' number from the account, as it was used fraudulently. I was hoping that by doing so, the bank would then recalculate his limit to a much, much, much lower level. Of course the bank said it ca n't be done and that they have to call my son to get his approval to lower the limit. I told them that per the legal credit card agreement the bank can reduce the credit limit at any time without asking the customer ( my son ). I said that my withdrawal of the " household income '' number should give them sufficient reason to reduce his credit limit. I told them that if my son knew I was talking to them he would n't talk to me for many years! But, of course the bank could n't do anything and as such, my son still has his $33000.00 credit limit.

JPMorgan Chase customer in Illinois
Nov 21, 2015

* Source: CFPB Complaint Database

JPMorgan Chase response to complaint:
Closed with explanation

Created with Highcharts 4.2.3JPMorgan ChaseComplaint HistoryComplaints12/20111/20122/20123/20124/20125/20126/20127/20128/20129/201210/201211/201212/20121/20132/20133/20134/20135/20136/20137/20138/20139/201310/201311/201312/20131/20142/20143/20144/20145/20146/20147/20148/20149/201410/201411/201412/20141/20152/20153/20154/20155/20156/20157/20158/20159/201510/201511/201512/20151/201602.557.51012.5Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3JPMorgan ChaseCredit determination76.0%2.1%7.3%0.9%13.7%Closed with explanationClosed with monetary reliefClosed with non-monetary reliefClosed with reliefClosed without reliefSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageCredit determination1.0%73.2%2.3%12.4%1.0%9.7%0.4%ClosedClosed with explanationClosed with monetary reliefClosed with non-monetary reliefClosed with reliefClosed without reliefIn progressSource: Consumer Financial Protection Bureau

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http://www.jpmorganchase.com/
(212) 270-6000
marianne.lake@chase.com
270 Park Ave Fl 12
New York NY 10017
JPMorgan Chase
JPMorgan Chase

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