tassojunior

Does it seem as if Chase sometimes approves a card for someone blacklisted but later does some sort of sweep and cancels those cards? Or does everyone get the denial for "previous unsatisfactory relationship" ?

tassojunior

I was told on mine. After a couple years with Chase credit cards and 20 years with Chase mortgage they decided to do ARS & IDA reports on me. A negative incident with a neighbor from 20 years ago popped up.

I froze the ARS and IDA reports (they only cause trouble) and 22 months later I've opened new Chase cards (fingers crossed).

Everyone should freeze these a.s.a.p.:

http://travelcodex.com/2013/06/freez...-club-carlson/

tassojunior

It doesn't matter at all. Been there, done that, as have many others. No one cares who closed an account. I know it defies logic.

tassojunior

I've heard that pre-approved apps are different and it may not even be legal for banks to deny them.

virmaior

You've been sorely mis-informed. Pre-approval for mortgages might mean something like that, but pre-approval for CCs is meaningless marketing speak for we want to advertise this to you. It is not legally distinct from "pre-qualified"

tassojunior

If someone sends me an offer and I accept it we have a contract if there's no "subject to approval" language. What 'pre-approval" is. "Invitation to apply" is different.

jeanie

tassojunior, while I understand your legal argument, in reality what viramaior is saying is true. There are dozens if not hundreds of posts over the years on the credit card forums here on FT of people getting pre-approved offers and then not getting the card for whatever reason. I am not a lawyer, but it happens all the time.

My guess is that there is small print saying the pre-approval is subject to a credit check or additional scrutiny of some sort. But I have gotten pre-approved credit card offers from banks I don't do business with. So I have not given them approval to pull my credit. It would be stupid for them to send me a binding offer for a credit card under that scenario. There has to be a legal loophole somewhere.

UA Fan

Does pre-approval increase chances of approval? I got approved for Club Carlson on a pre-approved offer.

jft3

Yes and no. It means that based on the credit score and demographic information available to them that they pulled on you at the time of mailing, you fit their profile for the product.

However, when it comes to application time, they are free to deny you on any reason they choose.

SteveT

If your referring to the Chase pre quality site, it is a good indication for approval

gmangg

I used to move as many dollar coins as possible through certain Chase branches from sometime in 2008 to mid-2010. Normally I frequented the China Town branches in NYC since they were near where I lived, and the staff rolled well with the situation of someone walking in with $5 to $7k of dollar coins in a rollable suitcase. I never went near $10k per week weight-wise that was not possible in my suitcase.

In trying to scale my operation, I started having coins sent to my employer's mail room near Wall St so I could make deposits during lunch. This specific branch might be the largest in New York city, and I made the mistake of making two trips in one day totaling much less than $10k. The teller started asking me questions and asking for ID that suggest to me she filed a suspicious activity report.

Within a month, I got a call from someone at Chase inquiring about my coin activities. I was extremely frank about what I was doing, since ordering coins from the US Government and then depositing them into a bank was nothing to hide, especially when I always had the documentation with me. I think she asked me to stop doing this, and I agreed, since this was around the time the mint stopped shipping in such high volume anyway. I was informed by mail Chase was closing my account. Questioning their phone reps revealed they were closing the account for having an "unsatisfactory" relationship.

A few months later, I got a $200 offer to open a checking account, so I went into the branch and the rep actually showed me red text on my profile altering her about issues with me in the past. I told her I bought a bunch of dollar coins and deposited them to earn miles, and she was happy enough to push it through. This account got closed a few months later. I made nothing of it and decided to work with other banks.

During all this time I was also earning bonuses on the usual Chase cards. The coin purchases were not on Chase cards though. In August of 2013, at least three years after my last issue with the banking side of Chase, I applied for a Business Ink Bold card and approved for a $25k line. I made a bunch of purchases, totaling above $2,000, and then Chase cancelled the card for reasons the chose not to reveal. Shortly, all my other Chase cards were cut. One even had a $45k limit. I have not reapplied for any Chase products since this time.

Has anyone else that moved large amounts of coin through Chase branches successfully recovered from a credit plus banking "unsatisfactory?" I can think of a few strategies:

1. Wait until two years have passed and then apply for another card.
2. Signup for another non-bonus checking account. Deposit some amount over $10k and move my payroll direct deposit there also. Wait a few months before applying for a card.
3. I own JPM stock, so attempt to work through investor relations to get clarity on my issue.

The situation I want to avoid is that I somehow reset the penalty box on my Chase relationship by generating activity on my account.

Thanks for any tips anyone may have.

pugsley21

That might be your saving grace. Not sure of how much you owe but if you have any at all they should be able to at lease help clarify the issue.

garykung

This is the best recourse IME.

At the least - like a court summon, Chase is forced to respond in this case.

redtop43

My post may not be entirely on topic but close.

In 2011-12 I had Chase Sapphire Preferred. On several occasions I bought points from co-workers. Each time I did, I called Chase and did the transfer through a Chase rep - not online. At one time I called Chase and asked if it was acceptable to buy points and they said yes, it was. I might even have said sometimes at the time of the transfer that I was paying my co-worker. All we had to do was call, give them both card numbers and both mother's maiden names, and the transfer was done.

I did this several times through mid-2012 and then took a break. I tried again in September or October and when we called, Chase said I could no longer do person-to-person transfers. I never tried again.

In mid to late November, I called Chase to close my wife's CSP and move her points to my account. Perfectly acceptable, as transfers between spouses are allowed (although we didn't have the same last name).

Around December 12, Chase cancelled my CSP. No matter how much I explained to them that it had been their CSR's who did the transfers, they still said "You broke the rules." I still find it impossible to explain why they took this action months after my last "illegal" transfer. But it was like talking to a wall.

However, after that I have had no trouble getting Chase cards. I applied pretty much immediately for an Ink Bold, and after answering a few questions to validate that I had a legitimate business, it was approved. I later got Southwest and AirTran cards.

So yes, Chase can be extremely unfair and absurd in their policies. But I apparently didn't get blacklisted, just blacklisted from CSP.

garykung

If you have read the T&Cs, Chase in fact has the absolute power in terminating the "relationship" without cause, so does other companies.

Sorry to say - it is the world that we live in.