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Chase Shut Downs & Credit-Card Account Closures: Data, Tales & Speculation 2019-on

Old Sep 6, 2019, 9:04 am
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Last edit by: StartinSanDiego
Chase Shut Down thread: (Archived version found here: https://www.flyertalk.com/forum/chase-ultimate-rewards/1526572-chase-closed-my-credit-card-account-s-consolidated.html]
There is a general Shut Down thread in the Manufactured Spend forum, found here: https://www.flyertalk.com/forum/manufactured-spending/1948543-2019-shutdown-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/
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What happened?
When someone reports an account closure here, people are curious as to both the background on the Chase relationship and any/all potential shut down triggers. Please answer any relevant questions to give details. This could help figure out what happened or how you could proceed:
  1. Background: Do you have both Credit Cards and Banking accounts with Chase? Tell us your history at Chase. What do you feel the trigger could have been? Does anything unusual (from the bankers perspective) go on in your accounts? How long have you had a banking relationship with Chase? Please explain.
  2. Ultimate Rewards: Did you transfer UR points to someone with a different address? Different last names? Did you sell UR points to someone?
  3. Potentially suspicious activities: Do you use multiple sources to pay your credit card bills, such as Walmart Bill Pay? Do you ACH using multiple accounts? Did you recently wire transfer large amounts into or out of your Chase accounts?
  4. Bonus Earnings: Approximately what percentage of your charges earned less than 5x points in the past 12 months?
  5. Other possible Triggers:
  6. Did a Chase or non-Chase bank recently close one of your credit cards?
  7. Are you using up a large percentage of your credit line or cycling the credit lines on all Chase and non-Chase credit cards?
  8. Is your total credit line with Chase much higher than with other banks?
  9. Did you apply for many credit cards or other forms of credit recently? 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? Do you mimic a "bust out" profile? (Someone maxing out credit prior to filing bankruptcy)
  10. If you have a Chase checking account how much did you typically deposit in money orders per month, if any?
  11. Did you recently start spending a lot more with Chase than in typical months?
  12. Is your monthly balance frequently close to your credit limit?
  13. Did you abuse the Chase Refer a Friend system?
  14. Did you use/abuse Chase's new checking/savings sign up bonus incentives?
  15. Did you bounce a check for a credit card payment?
  16. DId someone at your address get shut down also?
  17. Do you have a Chase mortgage or other accounts at Chase? Are they in good standing?
  18. Did you dispute or return items on your credit cards? How many times?
  19. Have you recently needed back office help on your accounts, which may have triggered a review or called attention to something?
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Chase Shut Downs & Credit-Card Account Closures: Data, Tales & Speculation 2019-on

Old Jan 14, 2020, 1:20 pm
  #166  
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Originally Posted by edulik
Thanks. What I can do to fix it? Or it is forever. Even some one who kill some one exiting prison at some point
Not if they get the death penalty.
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Old Jan 14, 2020, 1:33 pm
  #167  
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Originally Posted by guv1976
Not if they get the death penalty.
That may depend on the prison, but most prisons tend to remove executed or otherwise dead prisoners out of prisons sooner or later.

Chase has at times allowed customers to again open up accounts with Chase after initially firing them and not wanting their business for years and years. But Im speaking of accounts that werent shutdown for UR violations.
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Old Jan 14, 2020, 1:38 pm
  #168  
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Originally Posted by GUWonder
That may depend on the prison, but most prisons tend to remove executed or otherwise dead prisoners out of prisons sooner or later.
Yes, that's true. But in some prisons, if the deceased prisoner's body is not claimed by family, it gets buried in the prison's own cemetery.
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Old Jan 14, 2020, 2:11 pm
  #169  
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Originally Posted by guv1976
Yes, that's true. But in some prisons, if the deceased prisoner's body is not claimed by family, it gets buried in the prison's own cemetery.
Sharing UR points (like edulik mentioned) sounds like a way to reduce the chances of being left unclaimed by family and friends. And this situation is more like a banishment than an incarceration or execution in custody.

edulik, don’t be one of those prisoners.

0-5 years later, you may get a fresh start after the c. 10 year banishment.
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Old Jan 14, 2020, 3:09 pm
  #170  
 
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Probably would help if you became Chase Private Client and apply in person at the branch...
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Old Jan 14, 2020, 3:16 pm
  #171  
 
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For last few years I was able to get cards after I was declined with different status (not credit score or something similar) I was able to convince them for several cards and now with this status they say they can't change it to something else. I don't know what people in branch can do.
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Old Jan 14, 2020, 5:16 pm
  #172  
 
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Originally Posted by edulik
For last few years I was able to get cards after I was declined with different status (not credit score or something similar) I was able to convince them for several cards and now with this status they say they can't change it to something else. I don't know what people in branch can do.
You missed the first part of his suggestion was to become a Chase Private Client and apply in person. Chase Private Client is an invitation program usually to those who have $250K in assets with Chase.
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Old Jan 15, 2020, 11:56 am
  #173  
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Originally Posted by edulik
Got this reason (prior misuse of the credit card rewards program) for Chase credit card application. How to fix it? What to do? About 10 years ago I unintentionally of rules transfer some points to couple my friends

Hi @edulik, and welcome to FT.
Please follow your topic as it merges with the master thread on Chase shut downs.
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Old Jan 15, 2020, 2:14 pm
  #174  
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Originally Posted by Steve in Olympia
It would be helpful to know how you unintentionally transferred miles to a couple of friends.
Wouldn't really be helpful.
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Old Jan 20, 2020, 12:37 am
  #175  
 
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This seems to me like a good place to ask this question, (and I'm fully aware that any answer can only be speculation based on previous DP's).

I'm out of the country at the moment and returning to the US in 2 days While on my annual 3 month holiday I've been informed my Business and personal checking accounts at a smallish regional bank will be closed for suspected ML 2 days after I return. No whining or crying from me about this, since before I even started MS'ing I read extensively about the game and I knew I should have been smart and only deposited MO's @ a throwaway bank. The previous head teller, (who is now the branch manager at a different branch), was actually VERY helpful here because the closure was supposed to happen a month ago but he got in touch with me through my daughter and managed to put the closure off until after I return. A valuable lesson I can learn from, so no problemo.

Since I've been looking at what bank to open a new Business Checking account at, (and another throwaway bank for MO deposits), I've come across DOC's Bank SUB page. Sure looks like easy money to me.

I have no need or interest in actually "Banking" at a large, national commercial bank. However, one deal pops out to me @ Chase, $500 for $2,500 parked for 6 months and only 5 or 6 debit card purchases to meet the requirements for bonus and be fee free. If I choose to take this easy $500. I would not actually use this account as my primary Business checking, (but would show them enough vanilla usage to avoid any questions arising). I say this because I usually deposit between 700K-800K in cash yearly from my business, and I'm sure their currency transaction fees are ridiculous, LOL..

My concern is that I value my Chase CC portfolio highly, and my 2.5MM+ UR's which I would NOT want to redeem for a pitiful $25K in the event of a Bank-side shutdown leading to CC shutdown.

FWIW, I've read all the Chase shutdown threads here completely, (including the archived threads), and I don't believe I'm even close to being at risk of shutdown due to CC usage/acquisition.

We all know that a CC app @ Chase will almost always result in a secondary underwriting review even if it's an auto-approval.

So my question is, is anybody here aware of any circumstances whereby a simple opening of a Business Checking account @ Chase caused a human review on the CC side of the bank?

Obviously, if they tried to sell me a CC off the soft pull and I took them up on it that would be different.

Last edited by Chris58; Jan 20, 2020 at 12:39 am Reason: Spelling error
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Old Jan 20, 2020, 8:34 am
  #176  
 
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Originally Posted by Chris58
My concern is that I value my Chase CC portfolio highly, and my 2.5MM+ UR's which I would NOT want to redeem for a pitiful $25K in the event of a Bank-side shutdown leading to CC shutdown.
Don't even think about opening a Chase banking account. One look at your chex report and they can shut down their entire banking relationship with you, including credit cards.
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Old Jan 20, 2020, 12:14 pm
  #177  
 
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My wife has had a CSR for a few years and I've been an authorized user. So far, no problems. I've been over 5/24 for some time, but it's getting close to where I'll be 0/24, and I'm thinking of applying for my own CSR. But as I get closer, I'm wondering if it's even worth it. The initial points bonus will be nice (I've never had a CSR before), but I don't know if I'll get the value of the AF. For both of us, the AF costs will be $1,100 (-$600 travel credit) = $550.

I'm also interested in the United Club Card, since Club membership is a good value to me and is not included on the CSR. But about 5 years ago, I had the United Explorer Card and received the bonus miles.

If I do get the CSR or the UCC, will that raise red flags about Chase closing our accounts? Thanks.
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Old Jan 20, 2020, 5:56 pm
  #178  
 
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Originally Posted by cheaptom
My wife has had a CSR for a few years and I've been an authorized user. So far, no problems. I've been over 5/24 for some time, but it's getting close to where I'll be 0/24, and I'm thinking of applying for my own CSR. But as I get closer, I'm wondering if it's even worth it. The initial points bonus will be nice (I've never had a CSR before), but I don't know if I'll get the value of the AF. For both of us, the AF costs will be $1,100 (-$600 travel credit) = $550.

I'm also interested in the United Club Card, since Club membership is a good value to me and is not included on the CSR. But about 5 years ago, I had the United Explorer Card and received the bonus miles.

If I do get the CSR or the UCC, will that raise red flags about Chase closing our accounts? Thanks.
Based upon the information provided, I see no reason why you should be concerned about Chase closing your accounts.
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Old Jan 20, 2020, 8:17 pm
  #179  
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Originally Posted by pallhedge
Don't even think about opening a Chase banking account. One look at your chex report and they can shut down their entire banking relationship with you, including credit cards.
I believe one can request a Chex report just like the credit report - the poster can pull his report and find out if there is any derogatory remarks on it. If the accounts at the regional bank were closed by himself when he returned home, instead of closed by the bank, there should not be blemish mark on the Chex.

What is more worrisome is the Early Warning System report. That is where the poster should check to make sure.

<<EWS was created more than 25 years ago as a joint effort by several major banking institutions, including Bank of America, Capital One, Chase, and Wells Fargo. Today, its network includes about 2,500 financial institutions, government entities, and payment companies. That means that when you apply for a bank account, the bank may pull your EWS report and may deny your application if it finds negative EWS items.>>

https://letmebank.com/early-warning-services/

https://www.keypointcreditservices.c...-services-ews/

https://www.earlywarning.com/consumer-information

It is a much lesser known report banks also use. I only learned about such reporting system existed when several years ago someone posted on FT about Wells Fargo closed his newly opened bank account, citing the decision was based on information found on EWS.
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Last edited by Happy; Jan 20, 2020 at 8:23 pm
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Old Jan 20, 2020, 8:42 pm
  #180  
 
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Originally Posted by pallhedge
Don't even think about opening a Chase banking account. One look at your chex report and they can shut down their entire banking relationship with you, including credit cards.
Thank you for your reply.

I have to ask why I should be concerned about what Chex might have on file about me.

I'm very familiar with FICO scores and how to maximize them, but I know nothing about Chex.

My understanding is that Chex is the "Bank Account Equivalent" of credit risk models like FICO, (but is just based on banking history).

I can't imagine how there could be anything even remotely negative about my banking history on file.
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