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Chase closed my credit card account(s) [Consolidated]

Chase closed my credit card account(s) [Consolidated]

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Old Dec 23, 18, 4:22 am   -   Wikipost
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Last edit by: liw5215
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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:
  1. Did you transfer UR points to someone with a different address? Different last name?
  2. Did you sell UR points to someone?
  3. Approximately what percentage of your charges earned less than 5x points in the past 12 months?
  4. Did a Chase or non-Chase bank recently close one of your credit cards?
  5. Are you using up a large percentage of your credit line on all Chase and non-Chase credit cards?
  6. Is your total credit line with Chase much higher than with other banks?
  7. Did you apply for many credit cards or other forms of credit in the past 2 months? ("Many" may be hard to define.)
  8. If you have a Chase checking account how much did you typically deposit in money orders per month, if any?
  9. Did you recently start spending a lot more with Chase than in typical months?
  10. Is your monthly balance frequently close to your credit limit?
  11. Approximately what percentage of spending was on gift cards this year?
  12. How much of your bill do you typically pay using WM or KMart bill payment if any?
  13. Do you have a Chase mortgage or other account that might be profitable to Chase?
  14. 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?
Related threads: 2013.1 2013.4 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,
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Old Mar 30, 19, 10:10 am
  #2506  
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Originally Posted by blitzen View Post
LOL steady drop fills the bucket
Glad you see that because Chase would not hesitate to get rid of the drops that would pollute its water - after all the bad apples in their eyes are a very tiny fraction of its retail customers, not to mention their corporate customers and investment banking. Just plainly stated, Chase does not need us, but we need the bank for obvious reasons. LOL.
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Old Mar 30, 19, 6:04 pm
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Originally Posted by Happy View Post
Glad you see that because Chase would not hesitate to get rid of the drops that would pollute its water - after all the bad apples in their eyes are a very tiny fraction of its retail customers, not to mention their corporate customers and investment banking. Just plainly stated, Chase does not need us, but we need the bank for obvious reasons. LOL.
They don’t pollute they water they drain the bucket. Chase needs the customers to make money period. If they wouldn’t make money from us they wouldn’t do it.... they just want to maximize profit with shutting unprofitable customers down that cost money instead of creating revenue.
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Old Mar 30, 19, 11:53 pm
  #2508  
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Originally Posted by blitzen View Post

They don’t pollute they water they drain the bucket. Chase needs the customers to make money period. If they wouldn’t make money from us they wouldn’t do it.... they just want to maximize profit with shutting unprofitable customers down that cost money instead of creating revenue.
They only need profitable customers who have no regulatory risk, not just any customer.

It boils down to the answer of your initial question - the 75K deposit does not mean anything to Chase if the owner of the deposit is not a profitable customer, worse, a customer that costs it big bucks or perceived to cost big bucks (regulatory risks). You will get shut down regardless you have a big chunk of deposit, a mortgage, a CPC, or whatever. It is probably the most sensitive bank around, especially when it comes to regulatory risk.
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Old Mar 31, 19, 6:42 am
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Originally Posted by Happy View Post
They only need profitable customers who have no regulatory risk, not just any customer.

It boils down to the answer of your initial question - the 75K deposit does not mean anything to Chase if the owner of the deposit is not a profitable customer, worse, a customer that costs it big bucks or perceived to cost big bucks (regulatory risks). You will get shut down regardless you have a big chunk of deposit, a mortgage, a CPC, or whatever. It is probably the most sensitive bank around, especially when it comes to regulatory risk.
I was not asking if a deposit protects me or mentioning regulatory risk only


Any guess if opening a Chase Sapphire Checking Account is increasing the risk of review/shutdown or if they are happy to have $75k+ Of my money in their account?
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Old Mar 31, 19, 8:15 am
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Originally Posted by blitzen View Post

I was not asking if a deposit protects me or mentioning regulatory risk only


Any guess if opening a Chase Sapphire Checking Account is increasing the risk of review/shutdown or if they are happy to have $75k+ Of my money in their account?
I have been dealing with Chase for a long long time.
Their credit card unit is completely separate from the retail and business banking side. Your opening a checking, savings, loan etc. will not have any impact on your credit card dealings. You may have a personal or private banker coming to bat for you but if the credit card people want A and you want B, you will get A no matter what your Chase private banking people want or ask.
So, basically you can deposit $75K in a checking account, open a $1M investment account and the credit card unit will not care. However, do something fishy with your CC and they will shut it down and maybe even everything else in a blink of the eye.
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Old Mar 31, 19, 11:36 am
  #2511  
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Originally Posted by radonc1 View Post

I have been dealing with Chase for a long long time.
Their credit card unit is completely separate from the retail and business banking side. Your opening a checking, savings, loan etc. will not have any impact on your credit card dealings. You may have a personal or private banker coming to bat for you but if the credit card people want A and you want B, you will get A no matter what your Chase private banking people want or ask.
So, basically you can deposit $75K in a checking account, open a $1M investment account and the credit card unit will not care. However, do something fishy with your CC and they will shut it down and maybe even everything else in a blink of the eye.
This!
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Old Apr 5, 19, 9:25 am
  #2512  
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Originally Posted by blitzen View Post
Any guess if opening a Chase Sapphire Checking Account is increasing the risk of review...
It is a metaphysical certitude that opening a Chase checking account increases the risk of a review. Might be a minuscule risk, but it's not null.

RNE, opining that my UR credit card portfolio is too lucrative to me to risk by opening a Chase bank account.
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Old Apr 6, 19, 11:30 am
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Originally Posted by RNE View Post
It is a metaphysical certitude that opening a Chase checking account increases the risk of a review. Might be a minuscule risk, but it's not null.

RNE, opining that my UR credit card portfolio is too lucrative to me to risk by opening a Chase bank account.
Can you elaborate a bit on this? I am not following what you are trying to relay here.
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Old Apr 7, 19, 5:46 am
  #2514  
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Originally Posted by HawkeyeFlyer View Post
Can you elaborate a bit on this? I am not following what you are trying to relay here.
To me, the benefits of opening/having a Chase checking and/or savings account aren't worth the risks of additional scrutiny of my Chase credit cards.

RNE, acknowledging that many people disagree with me. Good luck to them.
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Old Apr 7, 19, 7:14 am
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Originally Posted by HawkeyeFlyer View Post
Can you elaborate a bit on this? I am not following what you are trying to relay here.
In plain languages, there is a remote chance that opening a deposit product may trigger a review impacting credit card.
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Old Apr 7, 19, 10:20 am
  #2516  
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Originally Posted by garykung View Post
In plain languages, there is a remote chance that opening a deposit product may trigger a review impacting credit card.
Agreed. But the remoteness should be considered vis-à-vis what's at stake. I have a million+ URs at stake and I expect to earn millions more over the coming years. They're important to me. Nearly all my travel is via points and miles, not dollars. A shutdown would devastate my travel world.

RNE, advising those with not much at stake to ignore my caution.
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Old Apr 7, 19, 11:42 am
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Originally Posted by RNE View Post
Agreed. But the remoteness should be considered vis-à-vis what's at stake. I have a million+ URs at stake and I expect to earn millions more over the coming years. They're important to me. Nearly all my travel is via points and miles, not dollars. A shutdown would devastate my travel world.

RNE, advising those with not much at stake to ignore my caution.
I am sorry to be so uneducated here but not following what having a checking account or any account with Chase would cause scrutiny of my overall business with them. Not trying to argue, trying to understand. What do you feel triggers this
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Old Apr 7, 19, 11:53 am
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Originally Posted by HawkeyeFlyer View Post
I am sorry to be so uneducated here but not following what having a checking account or any account with Chase would cause scrutiny of my overall business with them. Not trying to argue, trying to understand. What do you feel triggers this
He's saying that any interaction with a bank creates the possibility that someone will review one's accounts and potentially take adverse action for some reason or another. It sounds like he's big into manufactured spending and is suffering from the paranoia that seems to come with doing so.
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Old Apr 7, 19, 12:26 pm
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Originally Posted by joe_miami View Post
He's saying that any interaction with a bank creates the possibility that someone will review one's accounts and potentially take adverse action for some reason or another. It sounds like he's big into manufactured spending and is suffering from the paranoia that seems to come with doing so.
I have been with Chase since 1995, have multiple checking, savings and investment accounts along with Freedom, CFU and CSR as well as Sapphire Banking and I have never been worried about any of them. Making me paranoid i guess
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Old Apr 22, 19, 8:43 am
  #2520  
 
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Chase just closed all my cards and all the cards of someone else who uses the same address. The letters from Chase have extremely generic language: "After careful consideration, we closed your credit card accounts on ----, because our affiliate is ending their banking relationship with you".

Is it possible to gain any insight into the rationale for these shutdowns from the language they're using? No specific reasons were given (eg. too many new accounts, reputational risk) so I'm not sure how to approach having the closures re-evaluated.
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