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Guys, please take the discussion to Omni and leave this thread on topic.
Hopefully the OP would come back to update us on what is going on. |
This:
Originally Posted by bribro
(Post 21913025)
It may not even be something the OP is aware of. If JPMC is targeting unprofitable credit card customers, I feel that there would be a lot more reports of account closures on a forum like this.
There are LOTS of "unprofitable" card holders (many of us here, I would wager). That alone as a reason for the smackdown does not pass the sniff test. I'm guessing that there's some other factor, which the OP may not even be aware of as a potential red flag. |
This is purely speculative, but one potential explanatory factor for OP's shutdown may have been an event like exceeding a credit limit triggering an automatic soft inquiry at a particular time when OP's credit utilization, new accounts, etc. may have temporarily depressed an otherwise pretty-stellar score. Staggered payment deadlines and timelines for issuers reporting changes to the three bureaus can sometimes create a misleading picture of your finances for a few days each month--even for people with relatively straightforward spending habits.
A second might have been OP not freezing their ARS/IDA reports and a discrepancy or some other minor issue being flagged to Chase... Plus, going over the limit for Ink Bold may have been a bigger red flag because it's a charge card that's supposed to be paid in full each month. |
Do you actually see a CL on the Ink Bold card? I never have such so no idea.
I never see any CL shown on my AMEX BRG and PRG. Out of curiosity I did use AMEX online function to test how high a transaction amount the cards would get approved. I stopped testing it at 15K when the site still said approved. That is good enough for me to know. lol. |
For the IB a rep randomly gave me the limit when I called with a travel notification since I hadn't used it out of the country. I was surprised that it was 2x what they had originally approved it for on recon (first biz card ever). In under a year they had doubled it without informing me.
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These closure posts make me a little sceptical. I guess one of the major missing pieces may be the nature of the charges. To use an example often associated with amex, super Walmart vs whole foods for groceries. Remember this is a computer program trying to guess future profitability based on a ton of datapoints. Those may even include things like when you log in... How often/time of day etc. high UR balance I'm sure is another datapoint. Balance in relation to spend, consistency etc. I'm sure there are people with balances exponentially higher though who don't get the boot.
It wouldn't be one variable alone most likely. Unless it got someone's attention. It's an algorithm comparing preprogrammed patterns. Customers are numbers to an organization this size. Major shareholders and other UHNW clients aside. There may not be many people who could give the op an honest verdict about what triggered it IMHO. And I happen to work on an algorithm that has a certain level of behavior modeling. Best of luck with an amicable resolution. |
Originally Posted by brewernq
(Post 21902661)
Very doubtful that it was your high UR balance. I have had over 1 million UR in my account and know of others with the same.
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Originally Posted by Dr_wanderlust
(Post 21939059)
I agree. I have about 400k UR across my two accounts and nary a word from chase.
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Well hopefully the OP is ok, its been awhile since hes come on the board.
do keep us updated when you get a chance. |
I have a problem. I have and ink, sapphire, united explorer, southwest, and freedom card all with chase. I was suprised to learn that my bag was not coded as free with my flight. So I went to pay for it with united card rather than fight over it. Figured I would call up and fight later. So then I called up chase and they told me account was closed 3 days ago. I said you must be mistaken. I have not used the card in 3 months and actually paid the annual fee in August.
After a lengthy discussion which got me absolutely nowhere I found out that all of my accounts were closed and my 160,000 ur points were confiscated. Here is my spending history: I bought chase gift cards over the summer using each account for only one month. Only on the southwest card did I do any manufactured spending at cvs and it was in late November over the course of several transactions. Maybe 5 transactions each at 1k. Now it is true that none of these cards were really used much for my primary spending. My primary cards are with citibank Has anyone else had this experience? I did use the ink card for my cable and cell phone bills. Furthermore they are not refunding my annual fees which were all recently paid. Is there a way to fight this? How can they take away benefits such as a free checked bag when I paid for this benefit??!?! Can somone please help? |
Sounds like you boxed yourself in, with lack of real spending.
They profiled you. 5,000 MS, and $100.00 a month in utility bills, rest must have been cash spends. I see some need to MS to gain 1500 points for the 5X on Freedom with Chase, I also wonder what their real spend is, and maybe their real income. Bet Chase wonders also how some even qualified for a Credit Card.. |
Amazing that they can just keep the annual fees as well. Crazy thing is had I transferred the points to a partner like united they would have been mine to keep. Lesson learned about bank reward programs.
How many years does it generally take to be unbanned? Or is it lifetime? Is it even worth communication with their executive office in writing as I was advised? What will the impact of bank closures be on my credit report? |
Originally Posted by brettskyg
(Post 21952757)
I have a problem. I have and ink, sapphire, united explorer, southwest, and freedom card all with chase. I was suprised to learn that my bag was not coded as free with my flight. So I went to pay for it with united card rather than fight over it. Figured I would call up and fight later. So then I called up chase and they told me account was closed 3 days ago. I said you must be mistaken. I have not used the card in 3 months and actually paid the annual fee in August.
After a lengthy discussion which got me absolutely nowhere I found out that all of my accounts were closed and my 160,000 ur points were confiscated. Here is my spending history: I bought chase gift cards over the summer using each account for only one month. Only on the southwest card did I do any manufactured spending at cvs and it was in late November over the course of several transactions. Maybe 5 transactions each at 1k. Now it is true that none of these cards were really used much for my primary spending. My primary cards are with citibank Has anyone else had this experience? I did use the ink card for my cable and cell phone bills. Furthermore they are not refunding my annual fees which were all recently paid. Is there a way to fight this? How can they take away benefits such as a free checked bag when I paid for this benefit??!?! Finally how long does a ban last and what will the impact be on my credit score? |
Originally Posted by brettskyg
(Post 21952757)
I have a problem. I have and ink, sapphire, united explorer, southwest, and freedom card all with chase. I have not used the card in 3 months and actually paid the annual fee in August.
After a lengthy discussion which got me absolutely nowhere I found out that all of my accounts were closed and my 160,000 ur points were confiscated. Here is my spending history: I bought chase gift cards over the summer using each account for only one month. Only on the southwest card did I do any manufactured spending at cvs and it was in late November over the course of several transactions. Maybe 5 transactions each at 1k. Now it is true that none of these cards were really used much for my primary spending. My primary cards are with citibank Finally how long does a ban last and what will the impact be on my credit score? good thing my chase cards are also my primary spending cards. |
I had a 780 fico prior to this mess. Hopefully this doesn't kill my score. I guess I will know in a month when the statements cycle again. I do have cards with amex barclays boa and citi and zero credit debt so this shouldn't impact my credit utilization whatsoever. I am justt concerned about what a forces closure will do?
I admit I spent very little collected sign up bonuses and not much else. However I bought he jpm gift cards 1 time and they never complained. The only spending that might have bugged them was 2 purchases of 1000 apiece. At cvs two weeks apart. It's like being punched in the gut. It's pretty low of them to confiscate points that were earned but even worse to do this without any notice on a day I was traveling united. I just so happened to have a citi credit card on me but had I not I would have been royally screwed on this trip. They should at least give a courtesy phone call or email advising of the situation. |
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