tstauck

I was blacklisted before unfortunately (late payments in the 2008 housing crash)), it took 10 years to get my first Chase card again.

RNE

Not necessarily so. There are anecdotal reports of Chase forgiving and forgetting.

The longer the better.

There's no indication this is so.

The above said, don't count on ever being in Chase's good graces again.

manlymatt83

Any reports of chase shutdowns because you opened/closed an account rapidly at another bank? Opened a new CC a few months back at a major bank, not a fan after all, want to close it but don’t want to risk Chase shutdown.

RNE

No.

RNE

Another long spell with no shutdown reports -- not that that's a bad thing.

RNE, wondering if Ebenezer Dimon is going soft.

SteveT

No. It's a YMMV thing. It all depends on the circumstances on why you were shut down. How much of a loss Chase had, if you paid them back, etc.

cajunguy

I've read that Chase can just close them with no notice, but does Chase send out any notification/letter letting you know they will be closing down your accounts before they close them? Giving you like 2 weeks?

RNE

Nope.

manlymatt83

People who have had their accounts shutdown by Amex or Chase ... was there a delay between the day they were shutdown and the day they appeared on your credit report? Did you have enough time to apply for a new card(s) at another bank before your score took a hit?

barcanomics

So I applied for and was approved for the Chase priority Southwest RR credit card in the middle of December. I received it about a week later and then began trying to hit the milestones for the companion pass. When I hit just over half of my $17.9k CL, they froze my card for account review. Of the ~$9k in and spending, about $150 was non-manufactured spending. Everything else was Pavilions Vons or Ralphs in amounts close to, but never exactly multiples of $505.95. These transactions all occurred within one week, my second week of card ownership. I'd had Southwest cards before but it had been four or five years. I have three other credit cards with Chase totaling around $25k in CL excluding this card, but they all much older, outside the 5/24 rule. I have no other Chase accounts/products. I got too greedy. I think what triggered it was attempting to buy gift cards at usbank.com. They told me they will make a determination as to whether or not they will keep this account in 10 calendar days. But I cannot imagine the scenario in which they do not shut me down. I flew too close to the sun since I last got the companion pass in 2016; I was just too excited. I haven't yet made a single payment. Unfortunately I was $800 shy of hitting the $10k mark which would have netted me the 100k points which I was going after, instead I've only hit the 50k milestone. The account review CSR could not tell me how this would affect my point accrual exactly as my statement will close and they will accrue before the 10 calendar day period is over. She directly asked me if I was purchasing gift cards. I declined to answer. I will post the results of the account review here and anything else I learn.

RNE

Good luck, Icarus.

RNE, rooting for you.

cajunguy

Here's my current experience. I've had the Chase Ink, Freedom and Sapphire cards for nearly 10 years. I have a legit business listed for the Ink card. I also have a joint checking/savings account at Chase. Last Jan 2021 I began buying with Buyers Clubs, various ones. I would mostly use my Chase Ink card to purchase gift cards for the buys but also use other CCs for the purchases. I would then deposit the checks into my checking account then pay off the CCs. Wash, Rinse, Repeat. I went through the entire year trying to keep it random. At most my purchases for the Buyers Club would be near $4k per month. As you can see, small in volume compared to most others.

I received a letter from Chase letting me know they would be ending their relationship with me effective Jan X, 2022. The letter listed all my CC's, ATM and Checking and Savings account information. Basically giving me a couple weeks to get my affairs in order before they would shut me completely out. They do have a phone number for questions on the letter. The letter also states that going into a branch asking for clarification would not be helpful as the branch personnel would not be able to see information related to this. I called to close out my Zero balance CCs soon after the letter was opened. I wasn't using them anyway. I called the number, the person I spoke with only said that the accounts would be closed and when I asked for a reason they said they do not have to provide this. I asked if this would really impact the checking account and they explained that I was the primary on the account and yes, it would impact it. I did get 'I'm sorry' from the person I spoke with before hanging up. I walked into the branch anyway asking to speak with a banker, none were there. The senior teller did look at my account and couldn't see anything problematic also saying that my accounts had been opened for a long period of time. She asked if she could escalate this and have someone call me, I agreed to this. No one ever called back. I recently went to a branch to ask to be removed from the checking and savings account, the banker there did this and kept my debit card. When I log into my Chase account all I can see is my Ink account. I'd like to avoid having the checking/savings accounts closed as it's setup with many auto deposits and payments. It's not clear what flagged my account transactions, perhaps the velocity of deposits to payment of the credit cards which I would give about 3 or 4 days between.

I did some further research here online and found a reddit posting from 5 years ago, a phone number was listed that would get me right to a Review Board. I plan on calling in a day or so to give the recent actions a chance to cycle through everything with Chase. My plan is to ask to keep the checking/savings accounts open, I'm no longer involved on those.

I plan on transferring all of the points accumulated to my partner's account, I don't want to loose those. I have 30 days after the closure to do this transfer.

I will update this with the outcome from the call after I've done it.

UPDATE: 1/10 - Chase will close my deposit accounts even though I had removed myself from the account. My partner moved the remaining funds to another account at Chase. I will eventually try to be added to this other account at some point. Until then I'll open a fee free deposit account with another bank. I've transferred over 350K UR points to my partner's account. The phone number I mentioned above did not help as I had already basically removed myself from the deposit account and with only the Ink card still open the agent I spoke with could not access the deposit account information to help. My partner contacted Chase asking if they could review the deposit accounts now that I was no longer involved, this did not prove fruitful either.

RNE

Wait. Are you saying your credit cards were still active when you received that letter? That you could (if you wanted to) runup your balances?

Good.

cajunguy

Yes, the CCs remain open until the date on the letter. I'm also certain I'll still be on the hook for payment of the balance.

shdflyer

Thank you for telling us, I'm sorry to hear about this.

You say you bought "gift cards" and then "deposit the checks into my checking account." Do you mean that you sold the gift cards to individuals who wrote you personal checks? or that you turned the gift cards into money orders and then deposited the money orders? or something else?