Sounds like their version of the dreaded American Express Financial Review (google it).

My pure speculation is that you are not a profitable customer to them and your account is flagged. This might be a way to hassle you to close. Does your FT handle ring true in their eyes?

Read in the WSJ once that when you call in, your account is color coded and that determines the cooperation and leeway (to waive interest, fees, etc) you'll get. They probably all do that. I "seem" to get special treatment from them but I also have 10 credit cards and a ton of money on deposit too.

There is no rhyme or reason and once some stupid algorithm makes up their mind, its probably hard to override.

During the financial crisis, AMEX and the others (not Chase) cut my limits from $10,000 and more to $500 without warning, including cards I had paid annual fees for, making them useless. Nothing changed in my situation. I cut up my cards and sent them to the a**hole who signed the letter with a brief note but never heard another word.

Its very odd. At best I would send them a copy of my SSN card, tell them to pound salt and demand a refund of the fee. Good luck.