[quote=edna_mode]I had to report Chase to their national regulator due to the runaround they gave me to close a dormant account. I finally wrote to Jamie Dimon (CEO) directly to put a stop to it.
In a separate issue, they managed to drop a digit off my mailing address and NOT INFORM me that there was a balance outstanding for a few months (despite having email and phone for me which were correct). The rep even mentioned that the letters had bounced to them to that nonexistent address. I had to go to the executive office to waive all the fees.
Finally, have you seen their horrible website? I changed cc numbers over time (moved from airline to cash rewards; they sometimes send out a new #), and they NEVER DELETE the old cc#s. So it looks like you have 8 accounts when you might have 3 cards. You can only get 90 days of historical transactions.
While the individual people seem to be trying their best, the institutional dysfunction overwhelms their efforts.[/quote]
This comes close to what I experienced with Chase.
I canceled my CC with them (or I thought I did) in late 2007. In March 2009 they charged me an annual ‘dormant account’ fee, followed by May and June late fees. I received no letter or email – they changed my preference to paperless bill and SpamAssassin blocked the emails, presumably.
They reported me to credit agencies and reduced my rating by ~60 points. I learned about the whole thing when I applied for a loan and saw my credit score down to ~740 from >800.
Then Citi canceled my wife’s 5% cash-back Shell card due to delinquency on a linked (Chase) account, since she had me added to her account.
The rating agencies were quick to react when I complained. I was pleasantly surprised by that.
The whole thing reinforced my opinion of technology-enhanced business process – if you are covered by the basic use case you solve your do your thing with few clicks (get money from ATM, transfer money between banks and accounts, register your vehicle, change address…) and your life is much easier.
But if you are on one of the alternative paths you are SOL.
