Jcb Discontinues Credit Cards - Credit Repair Forum from Creditnet
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  1. #1
    jonesing is offline Senior Member
    Join Date
    Apr 2001
    Posts
    571
    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.

    Sincerely,
    /s/Linda Barth
    Linda Barth
    Acting Chief Executive Officer

  2.  
  3. #2
    PsychDoc is offline Senior Member
    Join Date
    Jun 2001
    Posts
    3,108

    Re: Jcb Discontinues Credit Cards

    Aren't they the largest credit card issuer in Japan? I wonder if they're pulling out of Japan too...?

    Doc

  4. #3
    jonesing is offline Senior Member
    Join Date
    Apr 2001
    Posts
    571

    Re: Jcb Discontinues Credit Cards

    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.

  5. #4
    pgibb is offline Junior Member
    Join Date
    Jan 2002
    Posts
    25

    Re: Jcb Discontinues Credit Cards

    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.

    Sincerely yours,

    Cardmember Services

    >>

  6. #5
    miles is offline Senior Member
    Join Date
    Mar 2000
    Posts
    1,055

    Re: Jcb Discontinues Credit Cards

    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

  7. #6
    rick is offline Senior Member
    Join Date
    Mar 2000
    Posts
    143

    Re: Jcb Discontinues Credit Cards

    I also got the JCB letter yesterday in the mail. I enjoyed the card mainly for the "uniqueness" of having a card that no one has ever heard of. I guess I'll have to rely on Diners for that now (!).

  8. #7
    miles is offline Senior Member
    Join Date
    Mar 2000
    Posts
    1,055

    FYI

    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.

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