Accelerating credit card account closures
From the recent growth in news stories, blog posts, complaints we get, and even now mainstream TV news coverage, Chase is accelerating their preemptive closure of credit card accounts. This phenomonon made the front page of the Wall Street Journals Personal Journal section today. (article) Chase is likely pruning the risky and unprofitable accounts before next years credit card reform act takes place, which will limit their ability to cancel an account for no good reason, as they are doing now. Chase probalby considers your account unprofitable if you pay your bill every month and don’t rack up interest charges and late fees. So much for being a responsible credit card user.
Uncategorized | admin August 12, 2009
