Many thanks to all of you for helping me out. I did call Chase but the agent said I should get a letter and respond to the letter. I won't be back home to see the letter until next month. So I sent the following emails to Chase Consumer Banking CEO and secondary contact.
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I apologize for sending you this personal email. Currently I am in China to attend my dad's memorial service, and suddenly found that my Chase Sapphire Reserved card (Acc# XXXX) is declined. Apparently, Chase closed my account due to "no minimum payment".
I always have AutoPay set up. For July, August and September my balance was small due to COVID-19. However, merchant credits exceeded account balance so AutoPay created zero payments. According to Chase, If the total of these payments and merchant credits is more than your set AutoPay amount, your AutoPay payment for that month will be zero. Chase advertises that customers never need to worry missing a payment with AutoPay. I thought that I was safe. Unfortunately, this somehow triggered Chase system to shut my account down.
I have 834 credit score and $250K household income. I have been a Chase customer for many years with average $50K+ annual spend, and never missed a payment. Yet I have been seriously wronged by your AutoPay system. I tried to call and send PMs but to no avail.
Many people might also be negatively affected by Chase AutoPay due to much less spend during COVID-19. It's a serious system flaw that needs to be addressed. Thank you for the attention.
Sincerely,
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Originally Posted by
notquiteaff
https://www.elliott.org/company-cont...an-chase-bank/
has email addresses.
If you are really down to one credit card, I would apply for a card with another bank ASAP. What are you going to do if your remaining card gets shut down due to fraud or gets stolen?
Also, I’d be concerned that Chase reporting missing payments might impact your credit report and score.
Thank you so much for the help. Greatly appreciate it.
Originally Posted by
garykung
I don't know. Actually, I don't believe this is the case. Just because an account has been closed it does not mean the person is banned for life. In fact - I do believe that OP may be able to get his recent application approved.
Also - Chase is currently banned from using "previously unsatisfactory relationship" as an excuse to close accounts.
Don't say something that there is no solid evidence to support. FWIW - it is an account closure. Nothing else.
I hope so.
Originally Posted by
MSPeconomist
Did Chase try to charge the OP any penalty interest charges or late payment fees? Doing so would probably break its own rules and could lead to regulatory action unless this contingency is clearly spelled out.
I also notice that the advertising merely says that you don't need to worry about late payments, not that Chase won't consider you to have failed to make payments or that your payments were late. OP didn't worry because he/she wasn't aware of any problem, nor should there have been a problem.
Chase didn't charge me late fee. Chase advertises AutoPay
It’s easy to make sure your credit card is paid on time each month. Here’s how:
https://www.chase.com/digital/custom...set-up-autopay
So my card is paid on time each month with AutoPay. This contradicts with Chase's claim that I didn't make minimum payments.
Originally Posted by
synzero
He doesn't have all the information. Another extremely important reason to clear this up: if Chase reports this as a 60 or 90 day default this will plague him for seven years. HSBC did something like this to my wife (also due to autopay, despite her having plenty of money) and her credit was hosed for seven years. They refused to correct it later on.
You can call the US via Skype for free. This isn't only a matter of losing a relationship with one bank. Unlike other shutdowns it could prevent him from getting cards from many banks if they report it to the bureaus. Which we have no reason to think won't happen if they really insist on interpreting this as a failure to pay. Which they are saying they are.
I called but to no avail.
Originally Posted by
garykung
Actually it is more than just speculation. Per OP's information provided, OP seems to be creditworthy. Unless OP is under 5/24 or as most of you speculate, Chase decided blacklist, Chase should approve the application without issue.
On the other hand, for those who suggested that OP has to fix the issue (mainly due to the possibility that OP may be blacklisted). However, so far, unless a person abuses Chase's reward system or have some risky transactions, so far no one has been banned.
I have not applied a new card for several years. My CSR is my last Chase card, received 4 years ago.
Originally Posted by
Happy
Exactly. The fairly major implication down the road is something that the poster should get this resolved with Chase once and for all despite he may never want to do business with Chase again.
Chase may, and often, initially approve a card application only to abruptly close it days / weeks later, when its system catches up the "previous unsatisfactory relationship".
The failure on making AutoPay is very likely programmed into behaviors that show "unsatisfactory relationship".
The poster thinks only abusing award system / suspicious transaction getting banned, obviously has very little or no knowledge in the bigger world outside the miles and points earning subset.
Chase AutoPay is seriously flawed. Many innocent people might get hit when they believe they are safe with AutoPay.