Apr 11 2009

Chase just lost a customer …

When I recently noted that my United Visa had an annual membership fee of $140, I decided to switch to a no-fee, cash-back card. I applied online for a card with Chase and waited until the new card arrives before canceling the old one. Here’s the letter that arrived in the mail today:

Chase rejection

Within minutes after retrieving the letter from the mailbox I cancel my old Visa card and Chase is not going to see me again.

And in case you are interested: I had my account for eight years. I never had a balance on the card; always paid it off at the end of the month. My limit was upwards of $30K. My credit score (based on information obtained during the last refinance) is in the upper 700s, low 800s.

Something in the credit card business is seriously broken …

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