ATTN all JCB Cardholders, this applies to you, confirmed with JCB customer service today:
JCB Bank, National Association
PO Box 71607, Los Angeles, CA 90071-9933
Telephone 800-366-4522, Facsimile 213-629-3745
By First Class Mail
January 15, 2003
Dear Valued Cardmember:
IMPORTANT INFORMATION ABOUT YOUR MITSUWA JCB CARD ACCOUNT
This letter is in reference to your Mitsuwa JCB Card account maintained with JCB Bank, N.A. ("JCB Bank) and also serves as an official notice that JCB Bank has chosen to liquidate its operations and transfer its assets to the U.S. parent company, JCB International Credit Card Co., Ltd.
In light of this decision, JCB Bank has regretfully decided to discontinue consumer credit card program and elected to inactivate your Mitsuwa JCB Card account effective January 31, 2003. Beginning February 1, 2003, you will no longer be able to use your JCB Credit Card issued by JCB Bank. In addition, please destroy your Mitsuwa JCB Card as it will no longer be valid at credit card terminals of any merchant. If you hae any automatic (e.g. monthly or periodic) billing arrancements with your Mitsuwa JCB Card account, please contact the merchants to change instruction of payment information.
If you continue to carry a balance amount with your Mitsuwa JCB Card account after the effective date, you will receive a monthly billing statement in the same periodic manner, in which the same annual percentage rate, fees and other financial charges will be assessed, until the balance amount is paid in full. You will maintain access to your account status and information by contacting JCB Cardmember Services after the aforesaid effective date.
The credit reporting agencies will be informed of JCB Bank's decision. Please rest assured that your credit rating will not be adversely impacted as a result of this notice.
We have valued our relationship and regret any inconvenience this may have caused you. If you have any questions, please feel free to contact JCB Cardmember Services at 800-366-4522 Monday to Friday 9:00 a.m. to 8:00 p.m. Pacific time.
Acting Chief Executive Officer
You know, I didn't ask about that. Somehow I don't think they'd pull out of the Japanese market. Especially with all those corporate accounts. Remember, they can do things creditwise in Japan that would land them in jail here...like the JCB Lady Card for the "little woman" at home, or the (company) cards that are targeted to a specific age bracket--exec (>50) or young exec (28-35) etc.
I think they are just pulling out of the U.S. market. I just requested an application for a JCB card and got this response.
>>Thank you for your prompt reply.
We are currently in the process of a business restructuring which would terminate our ability to issue credit cards in your state. We regret to inform you that we will not be sending you an application for a JCB Card. We appreciate your understanding.
I received the same letter. I am very disappointed. I really enjoyed my JCB card.
To me, it doesn't make sense to pull out of the U.S. market if they are trying to increase acceptance of the card. Too bad. Oh well, got to find another card to replace it. LOL
I called JCB to verify my payment had been received. I told the representative how disappointed I was that they were closing shop and asked if everyone is going to lose their jobs. She informed me that many will keep their jobs and they are not closing all accounts in the U.S. They will only offer the JCB card in five states. I didn't ask her which five though.
Just a heads up. Looks like customers in the "most cards issued" states will keep their accounts.