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:
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 …
April 11th, 2009 at 6:02 pm
WTF? Unbelievable…The system is broken.