JPMorgan Chase Credit Card Complaint

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.