Another Chase catch-22
Reader Kay reports:
I’ve had my mortgage with Chase for over 3 years and last month received a coupon for $125 for opening a premier checking account with them. There would be no monthly service fee and no minimum deposit of $15000 as long as my mortgage was serviced by Chase. Well wouldn’t you know it, 2 days after opening my checking account, my mortgage was transferred to another bank. I called the customer service department and a monthly fee would apply to my new checking account unless I somehow got $15000 together and met the minimum. On top of that, they charged me a $25 dollar fee for closing the account since it was less than 90 days after it was opened. Either way I was screwed. This is the second time I’ve been burned by Chase and will absolutely never do business with them again.
Bad bad Chase | admin June 22, 2010
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By savyinvestor777, June 22, 2010 @ 9:51 pm
It’s sad that this happened however they must have sold your mortgage because somehow you credit rating has been affected. Many banks choose to sell their mortgages they consider high risk. You should be able to switch the type of account you have so it is for free. They should have offered you that before you closed it.