May 15, 2014, 8:16 am
Last edit by: StartinSanDiego
This thread is now archived. Please follow the topic here: https://www.flyertalk.com/forum/chase-ultimate-rewards/1986148-chase-closed-my-credit-card-account-s-tales-speculation-2019-thread.html
If you feel your account has been unfairly closed, consider filing a complaint with the Consumer Protection Financial Bureau:
CFPB's complaint form: http://www.consumerfinance.gov/complaint/
When someone reports an account closure here, a lot of the same questions get asked. It might be useful to answer some questions in advance. This could help figure out what happened or how to proceed:
2013.9
2013.12 2014.6
http://www.flyertalk.com/forum/chase...ta-points.html
On 1/4/15, LivelyFL noted that 34 posts have referenced account closures (updated 1/25/15):
1, 55, 80, 108, 117, 129, 146, 165, 182, 212, 221, 222, 232, 235, 262, 272, 281, 326, 364, 410, 411, 428, 475, 477, 482, 513, 552, 586, 620, 648, 656, 662, 714, 718, 784 and 815.
Mortgasm provided more detail as follows:
001 - moarmiles little explaination - 'inconsistent spending'
055 - brettskyg chase gift cards tiny ms
080 - Artemk checking chase gift card, tiny MS, international wires, wall-mart BP
108 - TTnc4me (105 actually) no info
117 - rodsren
129 - Kybosh chase gift card checking
146 - mintcilantro - checking 6k/month MS, BB payments from another ss#, some MO/AP, 7new cards in 90days, short cycling
165 - newcomr - checking
182 - thehawk75 - heavy MSw/other banks,
212 - LRD - 2x spend of 20k /month (on two cards), checking
221 - iceman 77_7, no info
222 - jk2 no info
232 - hitman1420 checking , heavy MS activity (no number)
235 - clearlyanewb checking, MS activity (10k AGC and more), light credit history, 10 recent inquiries
262 - brc01 - shortcycling, some MS (18k/month over a few cards), 1
272 - rambo - 70% MS on 5 cards, WM BP of 16k/month on 5 cards
281 - prestonv - heavy MS - 20k/month on multiple chase cards, heavy WMBP (ink stayed open)
326 - pacupgo - false alarm, no shutdown
364 - edh101985 - tiny MS (bonus only) , 4 chase cards in 6 months,
410 - msetr - lots of freedom/ink ms
411 - standaman360 - international wires (business), million dollar balances,
428 - queensgambit - gambling transactions, UR point transfer from SO, 5 chase apps 3 new chase cc in 45 days, Blogger points coach
475 - dogloverjb - checking, international wires,
477 - ftomasz - 14 inquiries in 8 months, 5 chase, minimal MS, rapid upswing in credit, paying from multiple accounts
482 - liw5215 - Heavy MS, re-entered after 13 months
513 - thegasguru - checking, $3k/month MO to checking, NO MS, AP,
552 - LAXtoWorld - 3 cards in 30 days
586 - adavydov7 checking, $1k APs,
648 - CMHFlyerOH - checking, MO, 3k gift cards
656 - I can see for miles - Maxed UR 5x rewards on Freedom and Ink cards. Chased closed all accounts. Was approved for Ritz Carlton card 14 months later and did nothing unusual with it, other than lower CL from 30K to 10K to free up CL for possible approvals. Two subsequent Chase apps (Chase Ink and Marriott Rewards), on separate dates 3+ months later, were declined for a "previous unsatisfactory relationship ..."
662 - frogdog51 - Chase VGCs (Reapproved in 12 months)
677 - Subdawg - closed for piggybacking
714 - Mamibear - 'abuse' redcard MS
718 - maxswanson - MS, 11 chase cards, traded UR, (reapproved after 12 months)
752 - peaser - "reputational risk" associated with the business (decision reversed later)
757 - uncommonsensical checking, 3 Cashier's Check deposits with quick w/d (the w/d were to pay CHASE credit cards! ridiculous 'loss prevention' dept. gods). All CC's closed 2 days later. Tried EX Office- they seem to have zero power once the Mullah in loss prevention has issued a fatwa (my guess: some 27 year old with a god complex).
762 - knopfler - checking closed (all credit cards closed in both mine and Mrs. Knopflers accounts about three weeks after checking closure)
771 - milemonkey - 'reputational Risk" connected to Attorney General lawsuit
784 - unstable one: 2 cash deposits over 10k to chase checking
815 - dukerau - one time UR point sale, 77% spending is 5x,
If you feel your account has been unfairly closed, consider filing a complaint with the Consumer Protection Financial Bureau:
CFPB's complaint form: http://www.consumerfinance.gov/complaint/
When someone reports an account closure here, a lot of the same questions get asked. It might be useful to answer some questions in advance. This could help figure out what happened or how to proceed:
- Did you transfer UR points to someone with a different address? Different last name?
- Did you sell UR points to someone?
- Approximately what percentage of your charges earned less than 5x points in the past 12 months?
- Did a Chase or non-Chase bank recently close one of your credit cards?
- Are you using up a large percentage of your credit line on all Chase and non-Chase credit cards?
- Is your total credit line with Chase much higher than with other banks?
- Did you apply for many credit cards or other forms of credit in the past 2 months? ("Many" may be hard to define.)
- If you have a Chase checking account how much did you typically deposit in money orders per month, if any?
- Did you recently start spending a lot more with Chase than in typical months?
- Is your monthly balance frequently close to your credit limit?
- Approximately what percentage of spending was on gift cards this year?
- How much of your bill do you typically pay using WM or KMart bill payment if any?
- Do you have a Chase mortgage or other account that might be profitable to Chase?
- Has your credit score or credit profile changed recently? As in: significantly more debt, more open credit lines, or a large drop in your credit score?
2013.9
2013.12 2014.6
http://www.flyertalk.com/forum/chase...ta-points.html
On 1/4/15, LivelyFL noted that 34 posts have referenced account closures (updated 1/25/15):
1, 55, 80, 108, 117, 129, 146, 165, 182, 212, 221, 222, 232, 235, 262, 272, 281, 326, 364, 410, 411, 428, 475, 477, 482, 513, 552, 586, 620, 648, 656, 662, 714, 718, 784 and 815.
Mortgasm provided more detail as follows:
001 - moarmiles little explaination - 'inconsistent spending'
055 - brettskyg chase gift cards tiny ms
080 - Artemk checking chase gift card, tiny MS, international wires, wall-mart BP
108 - TTnc4me (105 actually) no info
117 - rodsren
129 - Kybosh chase gift card checking
146 - mintcilantro - checking 6k/month MS, BB payments from another ss#, some MO/AP, 7new cards in 90days, short cycling
165 - newcomr - checking
182 - thehawk75 - heavy MSw/other banks,
212 - LRD - 2x spend of 20k /month (on two cards), checking
221 - iceman 77_7, no info
222 - jk2 no info
232 - hitman1420 checking , heavy MS activity (no number)
235 - clearlyanewb checking, MS activity (10k AGC and more), light credit history, 10 recent inquiries
262 - brc01 - shortcycling, some MS (18k/month over a few cards), 1
272 - rambo - 70% MS on 5 cards, WM BP of 16k/month on 5 cards
281 - prestonv - heavy MS - 20k/month on multiple chase cards, heavy WMBP (ink stayed open)
326 - pacupgo - false alarm, no shutdown
364 - edh101985 - tiny MS (bonus only) , 4 chase cards in 6 months,
410 - msetr - lots of freedom/ink ms
411 - standaman360 - international wires (business), million dollar balances,
428 - queensgambit - gambling transactions, UR point transfer from SO, 5 chase apps 3 new chase cc in 45 days, Blogger points coach
475 - dogloverjb - checking, international wires,
477 - ftomasz - 14 inquiries in 8 months, 5 chase, minimal MS, rapid upswing in credit, paying from multiple accounts
482 - liw5215 - Heavy MS, re-entered after 13 months
513 - thegasguru - checking, $3k/month MO to checking, NO MS, AP,
552 - LAXtoWorld - 3 cards in 30 days
586 - adavydov7 checking, $1k APs,
648 - CMHFlyerOH - checking, MO, 3k gift cards
656 - I can see for miles - Maxed UR 5x rewards on Freedom and Ink cards. Chased closed all accounts. Was approved for Ritz Carlton card 14 months later and did nothing unusual with it, other than lower CL from 30K to 10K to free up CL for possible approvals. Two subsequent Chase apps (Chase Ink and Marriott Rewards), on separate dates 3+ months later, were declined for a "previous unsatisfactory relationship ..."
662 - frogdog51 - Chase VGCs (Reapproved in 12 months)
677 - Subdawg - closed for piggybacking
714 - Mamibear - 'abuse' redcard MS
718 - maxswanson - MS, 11 chase cards, traded UR, (reapproved after 12 months)
752 - peaser - "reputational risk" associated with the business (decision reversed later)
757 - uncommonsensical checking, 3 Cashier's Check deposits with quick w/d (the w/d were to pay CHASE credit cards! ridiculous 'loss prevention' dept. gods). All CC's closed 2 days later. Tried EX Office- they seem to have zero power once the Mullah in loss prevention has issued a fatwa (my guess: some 27 year old with a god complex).
762 - knopfler - checking closed (all credit cards closed in both mine and Mrs. Knopflers accounts about three weeks after checking closure)
771 - milemonkey - 'reputational Risk" connected to Attorney General lawsuit
784 - unstable one: 2 cash deposits over 10k to chase checking
815 - dukerau - one time UR point sale, 77% spending is 5x,
Chase closed my credit card account(s) [Archived 2013-mid 2019]
Jan 12, 2015, 10:59 am
#766
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,767
Just an fyi: I complained to the Consumer Financial Protection Bureau and Chase reversed their decision to close 4 of the 5 accounts they said they were shutting me down for “”reputational risk.”
Chase’s response on the CFPB website:
“Relief
We’ve reversed our decision to close your accounts ending in xxxx, xxxx, xxxx and xxxx
After further review, we have reversed our decision to close the Southwest Airlines Rapid Rewards Visa(R) Signature account ending in xxxx, Hyatt VISA Signature account ending in xxxx, Southwest Airlines Rapid Rewards Visa(R) Business Signature account ending in xxxx, and United MileagePlus VISA Signature account ending in xxxx.
Dispute
We reviewed our records and determined that the Chase INK VISA Signature Business account ending in xxxx will be closed on February 22, 2015, because continuing the relationship creates possible reputational risk for the company. “
Chase’s response on the CFPB website:
“Relief
We’ve reversed our decision to close your accounts ending in xxxx, xxxx, xxxx and xxxx
After further review, we have reversed our decision to close the Southwest Airlines Rapid Rewards Visa(R) Signature account ending in xxxx, Hyatt VISA Signature account ending in xxxx, Southwest Airlines Rapid Rewards Visa(R) Business Signature account ending in xxxx, and United MileagePlus VISA Signature account ending in xxxx.
Dispute
We reviewed our records and determined that the Chase INK VISA Signature Business account ending in xxxx will be closed on February 22, 2015, because continuing the relationship creates possible reputational risk for the company. “
Do you mind to let us know which business the Ink card is linked to? Chase obviously is not comfortable with the nature of the business with this odd-sounding "reputational risk".
Not really.
If you can find the pre-consolidated 300K UR pts forfeiture thread, the OP said Chase only closed the business accounts associated with ONE of their businesses, that was the one associated with "crowd funding" website. All their other accounts at Chase remained open and active while he was filing claim against Chase (and subsequently settled for somewhat less). So this is NOT the first time Chase only closes a business account - the only difference is, this time other accounts were closed first, then a decision reversal after complaining to CFPB and further internal review at Chase.
I wouldn't generalize this Chase action too much.
Still would like to know what type of business the Ink card is associated with, to cause this "reputational risk" closure, if OP could shed some light on it.
Last edited by Happy; Jan 12, 2015 at 11:04 am
Jan 12, 2015, 11:07 am
#767
FlyerTalk Evangelist
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 10,047
This is the first reversal I've seen. That's significant.
Jan 12, 2015, 11:17 am
#768
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,767
You may want to also put weight on the reason for closure - it is a very unusual, and first reported being formally labeled as "reputational risk", although the crowd-funding website was essentially in that nature.
And this headline news last year:
http://www.outsidethebeltway.com/cha...bank-accounts/
Really would like to know what made Chase think the poster's biz card is associated what kind of biz that got Chase made such decision which Chase essentially stood for, other than reversed the closure on the personal cards. Hint: A business card has the name of business on the card, even it is the owner's name if applied as sole proprietor. May be that is one of the peculiar reasons Chase doesn't want to see its card has names of certain business categories on it.
The nature of closure plays an important role on the reversal decision just my thought. I still would not generalize this as a policy change at Chase. Though in recent months there were sporadic posts about being to get new accounts after X months have passed - the X months certainly seem shorter than being reported in the past if that is your focus.
And this headline news last year:
http://www.outsidethebeltway.com/cha...bank-accounts/
Really would like to know what made Chase think the poster's biz card is associated what kind of biz that got Chase made such decision which Chase essentially stood for, other than reversed the closure on the personal cards. Hint: A business card has the name of business on the card, even it is the owner's name if applied as sole proprietor. May be that is one of the peculiar reasons Chase doesn't want to see its card has names of certain business categories on it.
The nature of closure plays an important role on the reversal decision just my thought. I still would not generalize this as a policy change at Chase. Though in recent months there were sporadic posts about being to get new accounts after X months have passed - the X months certainly seem shorter than being reported in the past if that is your focus.
Last edited by Happy; Jan 12, 2015 at 4:03 pm
Jan 12, 2015, 3:13 pm
#769
Join Date: May 2013
Posts: 747
Just an fyi: I complained to the Consumer Financial Protection Bureau and Chase reversed their decision to close 4 of the 5 accounts they said they were shutting me down for “”reputational risk.”
Chase’s response on the CFPB website:
“Relief
We’ve reversed our decision to close your accounts ending in xxxx, xxxx, xxxx and xxxx
After further review, we have reversed our decision to close the Southwest Airlines Rapid Rewards Visa(R) Signature account ending in xxxx, Hyatt VISA Signature account ending in xxxx, Southwest Airlines Rapid Rewards Visa(R) Business Signature account ending in xxxx, and United MileagePlus VISA Signature account ending in xxxx.
Dispute
We reviewed our records and determined that the Chase INK VISA Signature Business account ending in xxxx will be closed on February 22, 2015, because continuing the relationship creates possible reputational risk for the company. “
Chase’s response on the CFPB website:
“Relief
We’ve reversed our decision to close your accounts ending in xxxx, xxxx, xxxx and xxxx
After further review, we have reversed our decision to close the Southwest Airlines Rapid Rewards Visa(R) Signature account ending in xxxx, Hyatt VISA Signature account ending in xxxx, Southwest Airlines Rapid Rewards Visa(R) Business Signature account ending in xxxx, and United MileagePlus VISA Signature account ending in xxxx.
Dispute
We reviewed our records and determined that the Chase INK VISA Signature Business account ending in xxxx will be closed on February 22, 2015, because continuing the relationship creates possible reputational risk for the company. “
Thinking it would be related to the nature of your business than, rather than any specific activities.
Jan 12, 2015, 5:33 pm
#771
Join Date: Jan 2005
Posts: 930
I just got the letter saying my account would be closed for the"reputational risk".
My company simply markets health care programs. Anyone know why this action was taken?
My company simply markets health care programs. Anyone know why this action was taken?
Jan 13, 2015, 9:26 am
#772
Join Date: Jan 2005
Posts: 930
So I called Chase and they could not provide me with any reason or what reputational risk means
Jan 13, 2015, 9:33 am
#773
Join Date: Oct 2014
Location: Salt Lake City, UT
Programs: AAdvantage Platinum, DL Diamond 1MM, Hyatt Platinum, SPG Gold, Hilton Diamond, AMEX 2015 Centurion
Posts: 323
Have you all tried calling the EO at chase to inquire about the account closures or are you just calling CSRs? IMO, account closures come at the executive level and they would most likely be the only people to give you more I for regarding the closure. If you need EO contact information, please PM me and I can provide you the number.
Jan 14, 2015, 7:31 am
#774
Join Date: Jun 2013
Location: SJC/SFO
Posts: 373
Here is one of the possible reasons for the recent increase in Chase account closures:
"JPMorgan's Dimon says bank is 'under assault' by regulators"
http://money.cnn.com/2015/01/14/inve...s-jamie-dimon/
"JPMorgan's Dimon says bank is 'under assault' by regulators"
http://money.cnn.com/2015/01/14/inve...s-jamie-dimon/
Jan 14, 2015, 7:50 am
#775
Suspended
Join Date: Dec 2014
Posts: 8,460
Here is one of the possible reasons for the recent increase in Chase account closures:
"JPMorgan's Dimon says bank is 'under assault' by regulators"
http://money.cnn.com/2015/01/14/inve...s-jamie-dimon/
"JPMorgan's Dimon says bank is 'under assault' by regulators"
http://money.cnn.com/2015/01/14/inve...s-jamie-dimon/
Jan 14, 2015, 10:21 am
#777
Join Date: Jul 2009
Location: DCA/IAD
Programs: AS, US, Hilton, BA, DL, SPG, AA, VS
Posts: 1,628
Based on the (extremely limited) information you've provided, no one here is going to be able to tell you why your account was shut down. Are you doing heavy-duty MS or anything else Chase may not like?
Jan 14, 2015, 11:53 am
#779
Join Date: Apr 2004
Programs: AA plt 2 mm, Marriott LTT, HH dia
Posts: 1,215
It's the practice of Manufacturing Spending in order to generate reward points. Specifically, in this forum, the most common type is to buy Visa or MC gift cards at an office supply store with an Ink business card to get the 5x Ultimate Rewards Points.
Then the gift cards, which also can function as debit cards, can be loaded to a Bluebird account from Walmart. Bluebird, or BB, can then be used to pay the Ink credit card bill. Some people will MS with other credit cards from other banks as well. I think there may be other bill pay sources that can be loaded with the gift cards, but I don't MS so I am not sure.
Some people with multiple cards will do hundreds of thousands of dollars of MS in a year for the points.
A lot of people on this board do MS. And most of the people that MS here will very aggressively defend the practice.
Jan 14, 2015, 11:59 am
#780
Join Date: Jan 2003
Location: California
Posts: 1,129
There is stuff on the Internet about reputational risk at Chase.
For example, buying bitcoin, tons of adult oriented products, and maryjane via Chase is a good way to lose all of your Chase accounts.
So on the bitcoin thing, it can be used to launder money. I think the other two examples are obvious why Chase will dump you.
For example, buying bitcoin, tons of adult oriented products, and maryjane via Chase is a good way to lose all of your Chase accounts.
So on the bitcoin thing, it can be used to launder money. I think the other two examples are obvious why Chase will dump you.