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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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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 Oct 24, 15, 1:45 pm
  #1006  
mia
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Originally Posted by gardengirl View Post
So Chase does business with travel hacking bloggers.
Likely not. Card issuers hire agencies to place ads.

If I can purchase a Bed, Bath & Beyond card for a wedding shower why can't I gift it to myself?
I don't think most issuers much care about purchases of merchant giftcards, but they do care about purchases of Amex/Discover/MasterCard/VISA giftcards because the buyer is converting her Chase unsecured line of credit into a cash equivalent asset which can be readily used to live on after defaulting on her Chase credit card account. Issuers care about these purchases because they are correlated with default, and with criminal money laundering. It does not matter at all that you will pay your account. Card issuers do not care about individuals, only about patterns of behavior.

Originally Posted by gardengirl View Post
Surely they're bankers and wouldn't offer 5X unless they were still going to profit.
No, they lose money on the 5X category. This is a loss leader designed to encourage us to keep the physical card in our wallets, and use it for purchases where we will not earn a category bonus from any issuer.
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Old Oct 24, 15, 3:34 pm
  #1007  
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Originally Posted by mia View Post
No, they lose money on the 5X category. This is a loss leader designed to encourage us to keep the physical card in our wallets, and use it for purchases where we will not earn a category bonus from any issuer.
That's business. Their "loss" is ingeniously tempered by the $1,500 limit. Chase is no patsy.
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Old Oct 24, 15, 3:52 pm
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Originally Posted by mia View Post
Likely not. Card issuers hire agencies to place ads.

......

No, they lose money on the 5X category. This is a loss leader designed to encourage us to keep the physical card in our wallets, and use it for purchases where we will not earn a category bonus from any issuer.
Both of these points are related IMO.

Chase keeps their ads on these travel hacking blogs (even if they go through an agency, they can tell the agency not to advertise on them) and offers 5x because there are a lot of stupid people out there who will spend money they don't have to get 40,000 bonus points for spending $4,000, or or 5% cash back at Amazon, not realizing the interest and fees they'll pay far exceed what they're getting out of it.

Take one of my friends for example. He doesn't make a lot of money, and isn't good at managing what he does make, so he's always living at the edge of his credit limit. There's been times he didn't go out with the rest of us because he didn't have any available credit on his cards. It's unfortunate, but whatever. We have vastly different views on financial planning and money management, but he's still a good friend. A few months ago, he got a PS4. He was like "Yeah, it was a nice surprise. Best Buy unexpectedly raised my credit limit, so I went out and got a PS4, isn't that awesome!" And I was just like the old lady in the eSurance commercial saying "That's not how it works, that's not how any of this works." He's the kind of guy I could see spending $1,500 this quarter at Amazon even though he can't afford it, just because he gets 5% cash back, completely ignorant of the fact that he's going to pay back more than $75 in interest if all he makes are the minimum payments. "So wait, you mean to tell me you just bought an XBox One and new laptop on Amazon even though you can't afford it?" "Yeah man, but I got $75 in cash back! I'll pay it off eventually."

For every one of us, there's probably a dozen of my friends. I'll be sure to thank him next time I travel somewhere for free.
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Old Oct 26, 15, 3:18 am
  #1009  
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Originally Posted by t325 View Post
Both of these points are related IMO.

Chase keeps their ads on these travel hacking blogs (even if they go through an agency, they can tell the agency not to advertise on them) and offers 5x because there are a lot of stupid people out there who will spend money they don't have to get 40,000 bonus points for spending $4,000, or or 5% cash back at Amazon, not realizing the interest and fees they'll pay far exceed what they're getting out of it.

Take one of my friends for example. He doesn't make a lot of money, and isn't good at managing what he does make, so he's always living at the edge of his credit limit. There's been times he didn't go out with the rest of us because he didn't have any available credit on his cards. It's unfortunate, but whatever. We have vastly different views on financial planning and money management, but he's still a good friend. A few months ago, he got a PS4. He was like "Yeah, it was a nice surprise. Best Buy unexpectedly raised my credit limit, so I went out and got a PS4, isn't that awesome!" And I was just like the old lady in the eSurance commercial saying "That's not how it works, that's not how any of this works." He's the kind of guy I could see spending $1,500 this quarter at Amazon even though he can't afford it, just because he gets 5% cash back, completely ignorant of the fact that he's going to pay back more than $75 in interest if all he makes are the minimum payments. "So wait, you mean to tell me you just bought an XBox One and new laptop on Amazon even though you can't afford it?" "Yeah man, but I got $75 in cash back! I'll pay it off eventually."

For every one of us, there's probably a dozen of my friends. I'll be sure to thank him next time I travel somewhere for free.
A little OT, but I admire the live for today, not for tomorrow mentality. You never know when it will all come to an end. I'm not as bad as your friend but I definitely have the viewpoint that I'd rather enjoy life now rather than perhaps have a super cushy retirement. I could save and save and save and have plans to retire in Barcelona and then the die the day before retirement. Man wouldn't that suck? The flip side is I could live till 100 and have a horrendous life between 70 and 100, living in boxes underneath a bridge. It's all a gamble.
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Old Oct 26, 15, 6:26 am
  #1010  
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Originally Posted by TMM1982 View Post
A little OT, but I admire the live for today, not for tomorrow mentality. You never know when it will all come to an end. I'm not as bad as your friend but I definitely have the viewpoint that I'd rather enjoy life now rather than perhaps have a super cushy retirement. I could save and save and save and have plans to retire in Barcelona and then the die the day before retirement. Man wouldn't that suck? The flip side is I could live till 100 and have a horrendous life between 70 and 100, living in boxes underneath a bridge. It's all a gamble.
Winner of the coveted RNE's Pick for Post of the Century!

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Old Oct 26, 15, 6:29 am
  #1011  
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Originally Posted by RNE View Post
Winner of the coveted RNE's Pick for Post of the Century!

RNE, carpe diem
I better not see you award another one of these for at least the next 85 years.
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Old Oct 26, 15, 10:56 am
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I gotta disagree.

I can see the "live for the moment" mentality if it's a pay-as-you-go idea.

But this guy is literally paying later, and paying more, for the reward of a game console today. Hard to see that as a wise decision.

The problem isn't only economic here. Seems like he's the unwilling victim of the marketing machine.
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Old Oct 27, 15, 3:14 am
  #1013  
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Originally Posted by josephstern View Post
I gotta disagree.

I can see the "live for the moment" mentality if it's a pay-as-you-go idea.

But this guy is literally paying later, and paying more, for the reward of a game console today. Hard to see that as a wise decision.

The problem isn't only economic here. Seems like he's the unwilling victim of the marketing machine.
Unless he declares BK and then both he and the CC companies are the victims.
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Old Oct 27, 15, 4:22 pm
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Originally Posted by TMM1982 View Post
A little OT, but I admire the live for today, not for tomorrow mentality. You never know when it will all come to an end. I'm not as bad as your friend but I definitely have the viewpoint that I'd rather enjoy life now rather than perhaps have a super cushy retirement. I could save and save and save and have plans to retire in Barcelona and then the die the day before retirement. Man wouldn't that suck? .
Yeah, but if you die you won't know you know it after you're dead. It's not like your ghost is going to be sitting there going.. "Damn.. I should have bought that PS2 when Best Buy raised my credit limit."

The best thing I ever did was work my butt off so I could retire early. While my friends were 'living for today' I was saving and investing for tomorrow. Now they're still going to work and I'm retired.
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Old Oct 27, 15, 8:08 pm
  #1015  
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Originally Posted by t325 View Post
Both of these points are related IMO.

Chase keeps their ads on these travel hacking blogs (even if they go through an agency, they can tell the agency not to advertise on them) and offers 5x because there are a lot of stupid people out there who will spend money they don't have to get 40,000 bonus points for spending $4,000, or or 5% cash back at Amazon, not realizing the interest and fees they'll pay far exceed what they're getting out of it.

Take one of my friends for example. He doesn't make a lot of money, and isn't good at managing what he does make, so he's always living at the edge of his credit limit. ,snip>
He's the kind of guy I could see spending $1,500 this quarter at Amazon even though he can't afford it, just because he gets 5% cash back, completely ignorant of the fact that he's going to pay back more than $75 in interest if all he makes are the minimum payments. "So wait, you mean to tell me you just bought an XBox One and new laptop on Amazon even though you can't afford it?" "Yeah man, but I got $75 in cash back! I'll pay it off eventually."

For every one of us, there's probably a dozen of my friends. I'll be sure to thank him next time I travel somewhere for free.
It's these folks that make amazing travel possible for the rest of us. I cringe when I read this... your pal is teetering on the brink. I've had a few converts to miles and points with the same type of poor money management strategies. New credit cards only sink them deeper. They don't stop to do the math on how much the "free" points have cost them in interest and fees. It's astonishing, but it's what makes the banks rich.

The behaviors that we mimic are of a sinking financial ship... we apply for a bunch of credit cards and run a bunch of spending through them. We call it MS. The banks and Fico say it looks like someone is in over their head and looking for a bail out. That's why they get cagey when we've got enormous credit lines and a fistful of new credit cards. So, they turn us down for new lines of credit, or, our credit scores nosedive until we've proven that we can handle the credit lines on scads of new credit.
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Old Oct 28, 15, 5:10 am
  #1016  
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Originally Posted by tbradnc View Post
Yeah, but if you die you won't know you know it after you're dead. It's not like your ghost is going to be sitting there going.. "Damn.. I should have bought that PS2 when Best Buy raised my credit limit."

The best thing I ever did was work my butt off so I could retire early. While my friends were 'living for today' I was saving and investing for tomorrow. Now they're still going to work and I'm retired.
Sure but they enjoyed more during their better younger years. Yes you're in good shape now but I view it as you're basically trying to catch up to them in terms of life experiences.
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Old Oct 28, 15, 7:50 am
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Originally Posted by TMM1982 View Post
Sure but they enjoyed more during their better younger years. Yes you're in good shape now but I view it as you're basically trying to catch up to them in terms of life experiences.
I do see your point! I would just hate to be looking at 20 more years of work.

I guess that's why some people like vanilla ice cream and others chocolate.
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Old Oct 28, 15, 8:56 am
  #1018  
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Originally Posted by TMM1982 View Post
Sure but they enjoyed more during their better younger years. Yes you're in good shape now but I view it as you're basically trying to catch up to them in terms of life experiences.
Originally Posted by tbradnc View Post
I do see your point! I would just hate to be looking at 20 more years of work.

I guess that's why some people like vanilla ice cream and others chocolate.
There needs to be a balance - both extremes are no good, the one who live above and beyond their means in their younger years is far worse than those who delay their material gratification.

You do not need to be on the extreme ends of the spectrum.

I have plenty of friends who work hard and play hard, retire early at their 40's and 50"s with mortgage free, travel around the world multiple times every year. In other words, they are debt free, own their residences (some have second homes), investments that provide more than enough spending money to live a life style they choose, still in the prime time of their live span and in good health.

It can be done with planning and being responsible financially when it comes to spending. The "Live for the Moment" mentality certainly would not get you to this stage.
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Old Oct 28, 15, 8:59 am
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Originally Posted by Happy View Post
There needs to be a balance - both extremes are no good, the one who live above and beyond their means in their younger years is far worse than those who delay their material gratification.
Best answer.
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Old Oct 28, 15, 6:25 pm
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Add me to the list. :'-( I can add details later but for the most part. Not majority 5x spending but majority 1x MS such as buying gift cards. Other minimal spending too. No illegal UR transfers. Near my CL many months. Just approved for new Chase card earlier this week. That may have triggered a review. Or it could have been using SO card to buy $2k in Staples GCS when beforehand he never used the card. (Misplaced mine ). I did use WM billpay at 50% of the time. Not for $1998.12 though.
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