DENVER (CN) – Millionaire oilman Jack Grynberg sued Chase Bank this week, claiming it denied him a MileagePlus Explorer credit card because he was blacklisted for reasons the bank refuses to explain.
Grynberg, 83, of Denver, is a multimillionaire independent oilman who, among other things, had a hand in developing the giant Kashagan oilfield in Kazakhstan. He has aggressively taken on major oil companies in court, including over the Kazakhstan field. Records of that case in Texas are sealed but Grynberg is believed to have done well in it. An oil industry newsletter reported in 2003 that he ripped up a settlement check for $90 million in that case.
In his July 7 lawsuit in Denver County Court, Grynberg claims Chase Bank rejected his application for a frequent-flyer type card, citing a “previous unsatisfactory relationship with us or one of our affiliates.”
Chase Bank and Grynberg’s attorneys declined to comment on the lawsuit.
Citing his record as a businessman, his “life-long excellent financial standing and reputation, and his well-established financial and credit history with a great number of local, domestic, and international financial institutions,” Grynberg says he had “reasonable expectations” that the bank would issue him the card.
The card gives carriers 50,000 bonus air miles, priority boarding and a free first checked bag, among other things.
Grynberg claims Chase violated the Colorado Consumer Protection Act and the Equal Credit Opportunity Act. By refusing to provide a “valid” reason to deny him the card, he says, Chase Bank must use “deceptive practices” in its credit approvals.
Grynberg applied for the card in April and asked Chase in May why it rejected him. He says the bank hasn’t responded.
He seeks punitive damages for consumer law violations, and deceptive trade.
He is represented by Roger Jatko and Max Yefimenko.
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