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]
Mar 30, 2019, 10:10 am
#2506
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,760
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.
Mar 30, 2019, 6:04 pm
#2507
Join Date: Jul 2011
Location: Sunny AZ
Programs: HH Diamond, Sixt Platinum, IHG Spire Ambassador, Marriott/SPG Gold .....
Posts: 3,213
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.
Mar 30, 2019, 11:53 pm
#2508
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,760
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.
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.
Mar 31, 2019, 6:42 am
#2509
Join Date: Jul 2011
Location: Sunny AZ
Programs: HH Diamond, Sixt Platinum, IHG Spire Ambassador, Marriott/SPG Gold .....
Posts: 3,213
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.
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.
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?
Mar 31, 2019, 8:15 am
#2510
Join Date: Mar 2005
Programs: Continental Onepass, Hilton, Marriott, USAir and now UA
Posts: 6,438
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.
Mar 31, 2019, 11:36 am
#2511
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,760
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.
Apr 5, 2019, 9:25 am
#2512
Join Date: Sep 2005
Location: JZRO
Posts: 9,169
RNE, opining that my UR credit card portfolio is too lucrative to me to risk by opening a Chase bank account.
Apr 6, 2019, 11:30 am
#2513
Join Date: Mar 2009
Location: PHX
Programs: HHonors Lifetime Diamond, UA Million Miler Gold, Marriott Platinum
Posts: 1,142
Can you elaborate a bit on this? I am not following what you are trying to relay here.
Apr 7, 2019, 5:46 am
#2514
Join Date: Sep 2005
Location: JZRO
Posts: 9,169
RNE, acknowledging that many people disagree with me. Good luck to them.
Apr 7, 2019, 7:14 am
#2515
FlyerTalk Evangelist
Join Date: Aug 2009
Location: ZOA, SFO, HKG
Programs: UA 1K 0.9MM, Marriott Gold, HHonors Gold, Hertz PC, SBux Gold, TSA Pre✓
Posts: 13,811
Apr 7, 2019, 10:20 am
#2516
Join Date: Sep 2005
Location: JZRO
Posts: 9,169
RNE, advising those with not much at stake to ignore my caution.
Apr 7, 2019, 11:42 am
#2517
Join Date: Mar 2009
Location: PHX
Programs: HHonors Lifetime Diamond, UA Million Miler Gold, Marriott Platinum
Posts: 1,142
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.
RNE, advising those with not much at stake to ignore my caution.
Apr 7, 2019, 11:53 am
#2518
Suspended
Join Date: Oct 2017
Location: Miami, Florida
Programs: AA ExPlat, Hyatt Globalist, IHG Spire, Hilton Gold
Posts: 4,009
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.
Apr 7, 2019, 12:26 pm
#2519
Join Date: Mar 2009
Location: PHX
Programs: HHonors Lifetime Diamond, UA Million Miler Gold, Marriott Platinum
Posts: 1,142
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.
Apr 22, 2019, 8:43 am
#2520
Join Date: Jul 2009
Location: World
Posts: 1,647
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.
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.