Great job! I posted your accomplishment in the wiki! It will be easier to keep track of total closures, if we choose to, that way.

I had 2 Southwest Cards for about 18 months, a Hyatt card for 12 months and a Chase Ink business Plus for about 5 months and a United card for 10 years. Last month, I closed one of the SW personal cards and then was approved for the SW Premier card (different one from the one I closed.)

Chase just shut them all down for “reputational risk.” I didn’t do any manufactured spend at all.

They told you that over the phone or got a letter or saw it online when tried to log in?

What does that mean? How were you using the card that could have put their reputation at risk? Do you have any idea why they closed your accounts?

Chase probably thought he was opening and closing the cards just for the points, so they closed his accounts. In their updated T&Cs they list "opening and closing cards just for the points" as a reason to close accounts. which is stupid because the ONLY reason people open these accounts in the first place is for the points.

Were IDA and ARS the ones you froze? These are the ones that are recommended to freeze before applying for a US Bank CC, but I'm wondering if there are more out there.

UGGGH... My Recommendation to all: Close ALL Chase Bank Accounts Immediately
 

F---!

So, i have had a business checking forever. It was my main business account and had real business related cash deposits- which i stopped doing well over a year ago when news of closures reached me. In hindsight, I WAS STUPID NOT TO CLOSE THE ACCOUNT THEN.

fast forward to today- got the letter from loss prevention stating the account is being closed. same as everyone: nobody i can talk to, final decision- the gods in that department have spoken.

Only thing I can think of is that ~3x i have needed to pay a chase card quickly and the only way to get it to hit right away is to pay it from a chase account. so i'd deposit a cashier's check to my business account (i rarely use it now, so not much $ in it), and then pay the credit card from the account. EDIT: seems new 8/2014 T&C give 30 days to tfr UR points if CC clsoed, so seems i'm ok on that front.

2 days after doing it the last time, they decided to close my account. F---! If this unfolds the way everyone else has seen, my credit cards are on death row. STUPID STUPID STUPID.

BOTTOM LINE: There is NO GOOD that can come from having any banking relationship with Chase. It can only hurt you.


Everything I've read the past several months has pointed to Chase allowing you 30 days to transfer out UR points when they close accounts. Anybody see anything to the contrary the past several months?

You are saying so far they only closed your biz checking and the reason is because you would do cash deposits and Cashier's check deposits?

re-read. i said the cash deposits were a long time ago. only activity past ~18 months of note is 3 cashier's check deposits to pay chase credit cards.

from my reading, there is rarely an 'only' bank accounts. seems credit cards get closed after a short lag time- once 1 domino falls, they all fall.


btw, seems the immediate 'surprise' closings may be replaced with 'kinder and gentler': acccount will be closed 60 days from letter date, and i can continue to make deposits/etc until 10 days before (with the caveat that they may decide to close it earlier with no notice, and allowing me to close it earlier myself if i want).

Immediately use the fund to pay his Chase credit cards.

The story has some missing parts.

1) Why he needs the quickest way to pay his Chase cards?

AFAIK any payment from a linked external account would post the same day after midnight if the payment is made before the cut-off time.

Paying from linked Chase checking account would show the payment pending instantly after making the transfer but it does not release a credit line whatsoever.

2) Why can't he go to a Chase branch to pay the cards with either cash or the same cashier check, instead of dumping the instrument to the biz checking account then immediately transferred the fund to pay the credit cards?

3) Note on this thread, a few months ago one reason given to a poster by the branch manager was, payments from many sources. Seems Chase does not like payments coming from unknown sources.

Chase is probably the only big bank requires ID to make cash deposit to one's own account since Feb last year, and you cannot make any cash deposit to accounts do not belong to you. Check is OK.

4) After being fined by the government for tens of billions despite almost a year's negotiation, Chase now is very aggressive to root out compliance risk - it does not want to do more paper work to ensure compliance which is very costly so it chooses to fire customers whose banking behaviors require compliance follow up or monitoring,

The poster's card history does not seem anything unusual - many here turn their cards much more frequently than the poster.

Note the reason given is "reputational risk" - this is the first time ever reported here. What reputation Chase does not like? Note one of the original Chase closure threads, the OP had one of their business account and cards closed because the business was a "crowd funding" web site and Chase did not like it.

My Chase checking account also got the hammer dropped on it, but it's a personal account and they only gave me three weeks or so (letter dated Dec. 29th, account to be closed Jan. 23rd). Have been depositing lots of MO's over the past 18 months. CC's still open at this point.

tmi for now.

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. “

Wow. That's a change. Chase is really easing up in a lot of ways.