I just got a letter in the mail today stating that since Washington Mutual is now part of JPMorgan Chase, it has decided to discontinue the Secured MasterCard credit card program. It also stated that the funds in my secured savings account will be used to pay off the balance and the rest will be returned to me.
At first I thought, "OK, maybe they will just turn it into an unsecured card." After getting on the phone with a CSR, I was told that the account will be closed and If I would like an unsecured card, then I could go to my nearest branch and apply. This was my only credit card and I have been cuurent since the time of opening. I would really like to not go and apply for a Chase unsecured card like they suggested.
Is there a way for me to possibly protest and have them keep it open?