What Is JPMCB Card Services On My Credit Report

J.P Morgan is one of the world’s leading banks providing enormous services catering world’s top-listed rich ones. Can this bank be involved in some scam as the reason for the JPMCB card services mentioned on your credit card? This question has been rolling in your head since you saw their name on your credit report, but there are a few other reasons that can be explained and this post contains all of them.

JP Morgan acquired Chase Financial Services and started using their name as JPMCB or JP Morgan Chase bank, try recalling if you have applied to them for a credit card. There are chances for many other cards which are offered by many services like Amazon and Marriott are actually issued by them and if you are using any among them. We will understand them in detail if they have been the reason for the description on your credit report.

This post will help you understand the possibilities for the JPMCB to appear on your credit report, by which you can try to recall and if any among them resonate with you. Apart from this, we will explore the JPMCB in detail and what are the chances of them appearing as unauthorized and if that turns out to be a scenario, I have the ways mentioned to take it further.

What Does JPMCB Card Services On My Credit Report Mean?

The acronym here, JPMCB stands for J.P. Morgan Chase Bank. When J.P. Morgan & Co. merged with Chase Manhattan Corporation, they started using their name as J.P. Morgan Chase Bank, abbreviated to JPMCB.

JPMorgan Chase Bank is one of the largest financial institutions in the United States and when you see “JPMCB Card Services” on your credit report, it is clearly referring to a credit card issued by Chase Bank, also reflecting your other bank activities with it.

They provide financial products such as credit cards, auto loans, and mortgages and if you have multiple credit cards, there’s a strong chance that one of them is a Chase card and is the reason for appearing on your credit reports as “JPMCB Card Services.”

What Does JPMCB Card Services On My Credit Report Indicate? 

Many of us nowadays use multiple credit cards like Amazon Prime Visa Marriott Bonvoy credit cards Southwest credit cards, or maybe some other credit cards. Many of us don’t realize or hardly care about who is the card issuer and if your card issuer is Chase, which is formally known as JPMorgan Chase Bank, this could be the most probable reason for you to see JPMCB on your credit report.

If you have ever applied for a credit card from Chase then you are most likely to see ‘JPMCB’ on your credit report, as they will conduct hard research on your credit to decide if you can be approved with their card or not. J.P. Morgan Chase Bank is known for various services and also issues a number of credit cards across varying categories like airlines, dining, cashback, and hotels.

This implies that even if the card you’ve applied for doesn’t have Chase in its title, like the Chase Sapphire Reserve, it could still be a card issued by the bank. Understand this with an instance, the Amazon Prime Rewards Visa Signature card, British Airways Visa Signature airline card, and Disney Rewards Visa card are just some of the cards linked with J.P. Morgan Chase. 

What Is A Hard Inquiry And Does It Impact Your Credit Score?

Always remember that whenever you apply for a new credit line, banks will definitely perform a hard inquiry on your credit. So, if you applied for a credit account with J.P. Morgan Chase Bank, your credit background and history will be checked as part of the application evaluation process.

You must understand that hard inquiries can sometimes have a negative impact on your credit score, and can keep appearing on your credit reports for up to 2 years.

Every new hard inquiry initiated by you can potentially lower your credit score by up to five points, too, and multiple hard inquiries are also considered bad to credit issuers and can make it challenging for you to obtain a new credit card at a competitive interest rate in the near future. 

If you raised a credit line inquiry with J.P. Morgan Chase Bank, you must know and understand their 5/24 rule, which states that the bank won’t approve you for a new card if you’ve already opened five accounts in the past 24 months.

That number of hard inquiries would definitely have an adverse effect on your credit score for 2 full years.

What credit cards are issued by JPMCB?

JPMorgan is huge and associates with almost every service type in the U.S., you might have one of JPMorgan Chase Bank’s credit cards, but you never realize that it’s a Chase card. In addition to its Chase-branded credit cards, the bank also issues the following cards;

• Amazon Prime Visa
• Southwest Rapid Rewards® Priority Credit Card
• Southwest Rapid Rewards® Plus Credit Card
• Southwest Rapid Rewards® Premier Credit Card
• United Club Infinite Card
• United Explorer Card
• United Gateway Card
• United Quest Card
• Marriott Bonvoy Boundless Credit Card
• Marriott Bonvoy Bold Credit Card
• World Of Hyatt Credit Card
• Chase Sapphire Preferred credit card
• Chase Sapphire Reserve credit card 
• Chase Freedom Unlimited credit card 
• Chase Freedom Flex credit card 
• Chase Freedom Rise credit card
• Slate Edge credit card
• Prime Visa credit card
• Amazon Visa credit card

Possibilities: Why is JPMCB Card Services on Your Credit Report?

Below are some of the possibilities relating to your activities with Chase or applying for a credit line, which could show up as JPMCB on your credit report;

• Hard inquiries: The first scenario which our research team believes is that you’ve applied for a Chase credit card and under that process have authorized the bank to check your credit, if that’s the scenario, you are most likely to see a hard credit inquiry from JPMCB card services on one or more of your credit reports. A hard credit inquiry will negatively affect your credit scores and will stay on your credit reports for up to two years which means that your request might not be a recent one and you may still see the inquiry on your report.
• Soft inquiries: The second possibility is that you have tried to prequalify for a credit card offer, in this scenario you will also see a soft credit inquiry on your credit report, but a soft inquiry won’t affect your credit scores, but it will still appear on your credit reports.
• The third possibility is that you’ve been added as an authorized user on any of its credit cards. An authorized user means that the primary cardholder has added you to their account approving the credit card issuer to extend most of the terms for you to use. This implies that you’re allowed to make purchases as the primary account holder’s credit limit, but you won’t be officially responsible for repaying them. Being an authorized user, one uninvited activity is that account and its activity will be reported on your credit report also. This implies that factors like on-time payments and a low credit utilization rate (how much of the available credit is being used at any one time) could help you build your credit. The adverse effect is that if the primary cardholder doesn’t make timely repayments, your credit will be negatively affected. Check with your family or friends, if you were incorrectly added as an authorized user.
• The fourth possibility is that you were preapproved or prequalified for a Chase credit card and this doesn’t necessarily happen only after you request it. When lenders and credit card issuers consider offering you preapproval for financial products, they conduct a soft inquiry or soft credit check on your credit report to widen their consumer base and this soft pull provides them an idea they shall offer you a preapproved or prequalified offer. If Chase Bank has run a soft inquiry to offer you preapproval or prequalification for a credit card, that could be the reason it shows up on your credit report. Soft inquiries like this do not affect your credit score, but if you consider the offer and apply for the card, a hard inquiry will begin.
• The next possibility in the line is that you applied for a Chase credit card or have a Chase credit card account and the next activity as per policy is JP Morgan Chase Bank (JPMCB) making a hard inquiry on your report, which will show up even if you were rejected after applying, for next two years. A hard credit inquiry means when credit lenders and financial institutions consult the major credit bureaus to go through a copy of your credit report while assessing your application for a new credit line. Every new hard inquiry will affect your credit score for the next year and will appear on your credit report for two years. 
• The next one is that if you close an account with JPMCB card services, you must understand that closed accounts stay on your report for a long period of 7 years if it was closed in negative standing, and 10 years if closed in good standing. As closed accounts can stay on your report for so long, it’s most likely to happen while checking your report and, you most probably have forgotten about an account you closed many years ago.
• The last but the scaring possibility is that someone has opened a JPMCB account in your name fraudulently, this is the most likely scenario if you are quite sure that you do not have a Chase credit card account, have not an authorized user on one, and have not even applied for one, then you most probably be a victim of identity theft or fraud. It could also potentially be a mistake. On how to determine, more details are mentioned below.

Is JPMCB Card Services Legitimate

You must understand the nature of the charges if you are suspicious, below is a simple process to do that;

Checking Your Credit Reports For Suspicious Activity

As per reports from a 2013 study from the Federal Trade Commission, approximately one in every five people encounters a mistake on their credit reports. These errors will end up costing you in terms of loans, credit cards, and many other financial products you may miss out on, which is why it’s important to routinely check your credit reports.

• You can avail a free copy of your credit reports from all three major credit bureaus periodically from annualcreditreport.com. 
• Whatever service you use for credit reports, our expert teams suggest you add credit monitoring to your financial toolbox. 
• Credit monitoring will help you identify and take necessary actions on certain errors or suspected identity theft on your credit reports. This acts as an opportunity to foresee any damage approaching your credit profile.

What To Do If JPMCB Is Wrongly Listed On Your Credit Report?

If you’ve determined that JPMCB is wrongly appearing on your credit report, either as a mistaken entry or a potential fraud, below are some measures to address this;

Contact JPMCB card services

The first step is to contact the company;

1. JPCMB Card Services Phone Number: 1-212-270-6000 (general information), 1-800-935-9935 (customer service)
2. JPCMB Card Services Address: 1111 Polaris Parkway Columbus, OH 43240
3. Enquire about the listing and the reasons for that. Demand evidence supporting the request for the inquiry. If the bank declines or can’t provide it, you can always request to remove the inquiry from your credit report. 
4. As soon as you suspect fraud, immediately report it using the Federal Trade Commission’s IdentityTheft.gov website. Consider filing a police report, as a record of the procedure might help you in the future.
5. Freeze your credit to prevent identity theft in the future to access your personal and financial information. Remember that you won’t be approved for any new financial products while the freeze is active. A credit freeze won’t actively protect your credit, but this will prevent any new hard inquiries preventing scammers from opening a new account in your name while your credit is frozen.
6. Set a free fraud alert on your credit with the major credit bureaus.
7. Dispute the unauthorized inquiry immediately with the credit bureaus. The credit bureaus will investigate all disputes and shall remove or update any information that turns out to be incorrect.

Conclusion

Negative standing closed accounts for 7 years and positive ones for 10 years will appear on your credit report and this will definitely confuse you when you have multiple active and inactive credit cards and bank accounts.

Apart from this, if you set a hard inquiry for raising a request for a credit card with some bank, it will appear for the next two years, which will also confuse you, you won’t remember such small activities in office breaks, but your credit report will and keep poking you.

Take necessary measures as soon as possible if you are sure that no such activity is initiated by you, and set the reports to be corrected by contacting credit bureaus. 

Frequently Asked Questions

Also Read – Limited Parkway E Reynoldsburg Charge On Credit Card