JP Morgan Chase Complaint - Bad Business Practices of Chase
After dealing with JP Morgan and Chase and
other banks in the Fullerton area in CA, I have come
to the conclusion that whatever rationale
the bank's policies are, the consumer can not
directly fight the inequities of the corporate
Unfortunately, they can do what ever they want if they can get away with it unless it is a
gross violation involving the Federal reserve.
Look at your account disclosure(s).
But who do you think lobbies the Federal Reserve.
I went to one bank, to deposit cash and they wanted to put a 24 hold on it. But why, to make
sure it isn't counterfeit?
Again, my feeling is that they want to accelerate
the overdrafts (this was published in the LA times recently).
Certainly, like any other business there are
good banks out there but in today's economy they
are hard to find.
Recently, I had received what I believed to be
a bonafide offer in which if you made a online
bill payment they would give you a $10.00
gift certificate. It came in yesterdays mail.
Upon looking at the fine print, it had expired
on 4/09/2009. I called my banking representative
and she did nothing to make good about it, either
did the 24 hour banking representatives.
This happen to be a well known bank. I simply told them the next time it happens again I would
file a report to the FTC (OIG) and to the BBB
so I can get a fresh offer which could be reedemed. Okay people make mistakes, but not coreecting them is worse and showing bad faith.
Okay back to JP Morgan chase. Historically,
JP Morgan, though a smart man in finance
unfortunately if you read his past I think you
will have to agree his integrity was severly
tarnished. His greed was equivalent to the robber
barons of the oil pioneers -
I myself am holding a JP morgan chase Platinum Master card According to the disclosure they can close
it anytime they want to. They do not have to give you a reason. In my case I have a FICO,
Vantage Score, and PLUS score of 800. I have held this card for 1 year and have never made
so much as a late payment. At present it is at
-0- . Right after I paid it off, I got a new
account disclosure saying that the purchase
APR increased 60%. The cash APR remained about the same. These people are incredible.
I do believe that it is up to out lawmakers in Congress
and civil courts to stop bad banking practices.
I myself would like to inform the White house
through the Internet at www.whitheouse.gov about
my experiences and others. It wouldn't hurt to
consult our 2 senators and the representative
of our district.
Other than that, I have been suggesting to people
that if they do not want to be dictated to, that
they are going to have to pay the price of getting out of the rotten banking system, and that is when you get your pay check, go down to a check cashing place and cash your money. They normally charge 2% of the amount of the check.
Make sure that you keep your money in a strong heaby vault/box in your apt or house that is hidden. There are a lot of people doing this.
I have already canceled my chase card and ripped
aand shredded it. Lastly, This OCtober 2, 1990
go out and relax and watch Michael Moore's
"The Love of Capitalism - a love story"
I think it will be a good documentary on our
existing capitalistic system.
Good Luck to you.