CHASE closed ALL accounts!!!!!!!

[~King Lake~]

Came this across (reasons Chase closes accounts)
https://www.google.com/amp/s/www.asksebby.com/blog/how-to-avoid-chase-closing-all-your-accounts%3fformat=amp

Financial Risk: Credit piggybacking
Another thing that may cause a shutdown is if you do credit piggybacking. This is when you add people to your credit cards as an authorized user when they don't have a purpose of being there. The person typically isn't a family member or in the same household.

The main thing Chase is concerned about is you're selling your credit cards as a service to help them improve their credit.

If you do want to help your significant other out, I think that's reasonable. Just be sure the mailing address is the same household....
Selling your Ultimate Reward Points
Selling your UR points can trigger a shutdown. If you do want to transfer your points to family members, ideally they live in the same household and have the same last name...

[Ekay]

I hope you will find away to get them to open your accounts. I was banking with chase for around 25 years and nothing helped, they do not give a reason, they just shut you down without a warning. I tried using my CC and it did not work, that is how I found out I was shut down.

Are you banned for life? Who do you use now?

[Yitz]

Are you banned for life? Who do you use now?

I switched to TD Bank. This is not a pleasant experience. It took me a few days and I got over it and moved on. By the way we were a Private client at chase and the banker could not help.

[neveryou]

1. I don't get it, everybody is worried about chase arbitration. Chase is late when it comes to this game. Amex and other banks already have arbitration in the agreement, doesn't sound like people are worried about those banks
2. If you have debt and aren't paying than they have to go to court not arbitration to get a judgment against you
3. Arbitration is mainly so you can't join a class action against them and sue for alot of money

[as2]

1. I don't get it, everybody is worried about chase arbitration. Chase is late when it comes to this game. Amex and other banks already have arbitration in the agreement, doesn't sound like people are worried about those banks
2. If you have debt and aren't paying than they have to go to court not arbitration to get a judgment against you
3. Arbitration is mainly so you can't join a class action against them and sue for alot of money

It's not that people are worried about chase vs other banks. Chase recently made this change and gave an opt out, so people are discussing it only because it's an option here.

[Ekay]

My cc and personal account got shut down. My wife was also on my bank account. Can i apply for a cc on her name now?

[Ekay]

Update: the reason that may have triggered my shutdown according to a banker that has lots of knowledge in his area is that I paid my credit card from my business account. I was using a personal cc legitimately for my business because I didn’t want to open a new business cc and get a hard pull.

 I think @Dan (after prime day) should do a main post on the DDMS with all the possible reasons chase can shut you down, so we know what to avoid.

[as2]

I was using a personal cc legitimately for my business because I didn’t want to open a new business cc and get a hard pull.

 No reason to be scared of an inquiry.

I think @Dan (after prime day) should do a main post on the DDMS with all the possible reasons chase can shut you down, so we know what to avoid.

Here's a start.

[lakewood34]

Update: the reason that may have triggered my shutdown according to a banker that has lots of knowledge in his area is that I paid my credit card from my business account. I was using a personal cc legitimately for my business because I didn’t want to open a new business cc and get a hard pull.

 I think @Dan (after prime day) should do a main post on the DDMS with all the possible reasons chase can shut you down, so we know what to avoid.

was the business account a chase business account or from a different bank?

[Ekay]

was the business account a chase business account or from a different bank?

Chase business acct.

[Ekay]

Here's a start.
[/quote] Not good enough imho.

[TimT]

Here's a start.
 Not good enough imho.

https://forums.dansdeals.com/index.php?topic=11216.0

[TimT]

Here's a start.
 Not good enough imho.

https://www.dansdeals.com/credit-cards/what-not-to-do/

[mutchkie1]

Why can't you pay your personal account from your business checking account? There is nothing at all illegal with it even for tax purposes! Your accountant would and should treat the credit card payment as if there was a distribution to you! None of the credit card expenses would be deducted on your business tax return!

[Dan]

Why can't you pay your personal account from your business checking account? There is nothing at all illegal with it even for tax purposes! Your accountant would and should treat the credit card payment as if there was a distribution to you! None of the credit card expenses would be deducted on your business tax return!

Yup. I'm skeptical that this is an issue.