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]
Sep 10, 2014, 3:56 pm
#526
Join Date: Oct 2011
Posts: 4,166
Has anyone had their cards closed that DID NOT have a Chase checking account? I have one that I never use, so I'm considering closing it.
Sep 10, 2014, 3:59 pm
#527
FlyerTalk Evangelist
Join Date: Mar 2006
Location: DFW
Programs: AA 1M
Posts: 31,469
Sep 10, 2014, 4:05 pm
#528
Join Date: Dec 2009
Posts: 138
I've been using Chase as my primary checking account since Chase bought out Bank One a long time ago. It will be painful, but I'm considering killing my personal checking and savings account there too.
Sep 10, 2014, 5:36 pm
#529
Join Date: Jul 2013
Posts: 1,872
I can't find the link anymore, but there is a class action against Chase for this by this law firm:
http://www.triefandolk.com/category/jpmorgan-chase/
http://www.triefandolk.com/category/jpmorgan-chase/
Sep 10, 2014, 6:02 pm
#530
FlyerTalk Evangelist
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 10,028
Sep 10, 2014, 6:05 pm
#531
Join Date: Nov 2011
Location: SFO/SJC
Programs: whatever comes with CCs
Posts: 1,082
I highly recommend it. Wish I had closed my checking a/c. It prevents you from beign lazy and usign chase for occaisonal MS activities
Sep 10, 2014, 7:23 pm
#532
Join Date: Feb 2011
Programs: DL DM Hub Captive, Marriott Plat, Hilton Diamond, PC Plat, and other stuff.
Posts: 904
Sep 10, 2014, 8:00 pm
#533
Join Date: Dec 2010
Location: Indianapolis
Programs: Hilton-Diamond Lifetime Platinum AA UA, WN-CP, SPG Gold.
Posts: 7,377
I have a Business account with Chase, I think it helps,
They are activating new cards and telling you the points do not count on gift cards, or cards turned to cash...
I look for some doors to be closing, many GC, are following the cards path.
They are activating new cards and telling you the points do not count on gift cards, or cards turned to cash...
I look for some doors to be closing, many GC, are following the cards path.
Sep 10, 2014, 10:08 pm
#534
Join Date: Sep 2006
Location: Teaneck, NJ
Programs: SPG Gold, HHonors Gold, IHG Platinum, Marriott Silver
Posts: 699
Checking Account
Have had a joint Chase checking account for 10+ years, also thinking about canceling due to all that's going on. Back in the coins days, used to deposit tens of thousands at Chase with no issues. Now, afraid to do anything. Just signed up for 2 new Chase cards, first Chase cards in 9 months, scared to do anything with them since there are so many new rules of things to not do. Don't plan on signing up for Chase cards more than once a year from now on unless this all dies down, though I know it's been going on for more than a year, just getting more press now. Wish some of the other banks had as many good cards as Chase.
Sep 10, 2014, 10:36 pm
#535
Join Date: Apr 2004
Programs: AA plt 2 mm, Marriott LTT, HH dia
Posts: 1,215
I have been reading this thread off and on. For the vast majority of the thread, people seemed worried that certain behaviors would get their accounts closed down. And there were a lot of angry posts about it.
It is almost like we are going through the stages of grief. The mood seems to be moving from anger or defiance to more of a coping or action phase. This seems more logical to me.
This really depends on how worried each person is about Chase closing accounts. If you are worried enough about it, then change the behavior that might get the accounts closed. If it doesn't worry you that much, then continue as normal. Seems like a simple process to me.
Over the past couple of pages, more people seem to be doing something about it instead of just worrying or complaining about the situation.
Perhaps the checking account with Chase gives the bank a more complete picture of the person's finances. If that is the case, then changing banks could be a good strategy.
It is almost like we are going through the stages of grief. The mood seems to be moving from anger or defiance to more of a coping or action phase. This seems more logical to me.
This really depends on how worried each person is about Chase closing accounts. If you are worried enough about it, then change the behavior that might get the accounts closed. If it doesn't worry you that much, then continue as normal. Seems like a simple process to me.
Over the past couple of pages, more people seem to be doing something about it instead of just worrying or complaining about the situation.
Perhaps the checking account with Chase gives the bank a more complete picture of the person's finances. If that is the case, then changing banks could be a good strategy.
Sep 10, 2014, 11:36 pm
#536
Moderator: Travel Buzz
Join Date: Aug 2012
Location: Sunny San Diego
Posts: 3,095
I deposit rental payments in the form of MO's every month. Truthfully, until reading this thread, I never thought to worry about it. As I've ramped up MS behaviors and dabbled in AP, Buxx and other, more creative ways to spend a bunch of money, I grow more concerned about the risk of shut down.
I do have multiple credit cards, a checking, savings, & mortgage with Chase. I'm too entrenched at this bank to close my accounts, but I will keep a close eye on my behaviors that might be viewed as high risk to the powers that be.
If I was concerned about a closure, I would weigh the merits of closing my accounts vs. using it minimally. A no fee checking with very little activity would seem better to me than closing it. These very old checking accounts were often free of monthly service charges. What's the harm in keeping it open? Especially if you just park a few bucks (what ever that number means to you) in the account and pretty much leave it there. If I were a bank, I would look at a fairly non-active account as an asset.... sitting funds would indicate financial stability of the client. The lack of activity would point arrows AWAY from the idea of money laundering or structuring. A long term account would be just that- a long term customer. And, as a bank, they'd do what banks do... use your money to make lend at a profit.
I think if you are closing long standing accounts on the basis of "having a checking account means entering the danger zone", I think that this logic doesn't make sense. It's the behaviors, or the view into what they feel is a swath of risky behaviors, that trigger the shut downs. So, minimize the potential risks to the bank. Stabilize your banking behaviors with a big shift towards "normal", and take into account that, in general, banks want to see a complete banking relationship. That means that, in general and within the bounds of "normal", the more accounts you have with them, the better. Until you tip the balance and begin to seem risky, that is. The risk appears to be firstly a concern over money laundering type behaviors. Then, possibly gaining more of the limelight, an overzealous appetite for collecting points.
I think points collectors have finally achieved critical mass with the banks. Skilled points collectors used to be something annoying, but small scale. We've all marveled and cussed the exponential expansion of this hobby.
When the T &C's start spelling out that violations include reward exploitation, that can only mean that the flies have finally driven the elephant crazy. Perhaps this "tragedy of the commons" is the backdrop for the swift account closures... whether for laundering or points hogging, the bank just cuts their losses.
I do have multiple credit cards, a checking, savings, & mortgage with Chase. I'm too entrenched at this bank to close my accounts, but I will keep a close eye on my behaviors that might be viewed as high risk to the powers that be.
If I was concerned about a closure, I would weigh the merits of closing my accounts vs. using it minimally. A no fee checking with very little activity would seem better to me than closing it. These very old checking accounts were often free of monthly service charges. What's the harm in keeping it open? Especially if you just park a few bucks (what ever that number means to you) in the account and pretty much leave it there. If I were a bank, I would look at a fairly non-active account as an asset.... sitting funds would indicate financial stability of the client. The lack of activity would point arrows AWAY from the idea of money laundering or structuring. A long term account would be just that- a long term customer. And, as a bank, they'd do what banks do... use your money to make lend at a profit.
I think if you are closing long standing accounts on the basis of "having a checking account means entering the danger zone", I think that this logic doesn't make sense. It's the behaviors, or the view into what they feel is a swath of risky behaviors, that trigger the shut downs. So, minimize the potential risks to the bank. Stabilize your banking behaviors with a big shift towards "normal", and take into account that, in general, banks want to see a complete banking relationship. That means that, in general and within the bounds of "normal", the more accounts you have with them, the better. Until you tip the balance and begin to seem risky, that is. The risk appears to be firstly a concern over money laundering type behaviors. Then, possibly gaining more of the limelight, an overzealous appetite for collecting points.
I think points collectors have finally achieved critical mass with the banks. Skilled points collectors used to be something annoying, but small scale. We've all marveled and cussed the exponential expansion of this hobby.
When the T &C's start spelling out that violations include reward exploitation, that can only mean that the flies have finally driven the elephant crazy. Perhaps this "tragedy of the commons" is the backdrop for the swift account closures... whether for laundering or points hogging, the bank just cuts their losses.
Sep 11, 2014, 4:34 am
#537
Join Date: Feb 2005
Location: a hotel room, somewhere...
Posts: 962
I should also add that I had over 400,000 UR points in my account. Not sure if or how that might have influenced Chase's decision, but they did not cancel my UR points. My cancellation letter said I had one month before the checking account was closed, although the credit cards were all deactivated immediately. Still, I was able to log onto the web site - where all I saw was a msg in red next to each account that said "this account is no longer active, etc etc". From the web site I was able to go to the Ultimate Rewards site, and successfully transferred out all of my >400K UR points to other hotel/airline programs. I didn't want to have to be forced into choosing which programs speculatively in advance, but obviously that's better than forfeiting the points altogether.
I ask (obviously) because the precedence was that when they shut you down, they took away your UR points. i've read about chase settling with some people who took legal action at up to .01/point. If this is the new policy, it would remove the need to transfer point prematurely to protect them from (potentially) being seized.
Sep 11, 2014, 8:11 am
#538
Join Date: Mar 2012
Location: Boulder
Programs: AA Plat, CX Silver
Posts: 2,361
Is this Chase's new policy with shutdowns, or is this an outlier??
I ask (obviously) because the precedence was that when they shut you down, they took away your UR points. i've read about chase settling with some people who took legal action at up to .01/point. If this is the new policy, it would remove the need to transfer point prematurely to protect them from (potentially) being seized.
I ask (obviously) because the precedence was that when they shut you down, they took away your UR points. i've read about chase settling with some people who took legal action at up to .01/point. If this is the new policy, it would remove the need to transfer point prematurely to protect them from (potentially) being seized.
Sep 11, 2014, 10:02 am
#539
Join Date: Dec 2010
Location: Long Beach
Programs: HHonors Diamond, Hyatt Diamond
Posts: 1,171
Chase recently had gotten hit with a fine for not doing enough to prevent money laundering, they needed to implement new safeguards, I received an email about 2 months ago that said that all cash deposits to checking account would now require that the teller confirm ID and that it must match the account holders name so you can deposit cash for someone else. I think many of the closures have been a reaction the justice department. http://wallstcheatsheet.com/stocks/j...tml/?a=viewall
Sep 11, 2014, 5:03 pm
#540
Join Date: Apr 2004
Location: CA
Posts: 1,302
this is for overdraft
nothing to do w UR points
nothing to do w UR points
I can't find the link anymore, but there is a class action against Chase for this by this law firm:
http://www.triefandolk.com/category/jpmorgan-chase/
http://www.triefandolk.com/category/jpmorgan-chase/
