Author Topic: CHASE closed ALL accounts!!!!!!!  (Read 29022 times)

Offline ~King Lake~

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #135 on: July 12, 2019, 02:21:49 PM »
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
Quote
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...
I'm going crazy, wanna come along?

Offline Ekay

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #136 on: July 12, 2019, 02:35:14 PM »
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?

Offline Yitz

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #137 on: July 12, 2019, 04:24:56 PM »
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.

Offline neveryou

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #138 on: July 14, 2019, 12:53:38 AM »
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

Offline as2

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #139 on: July 14, 2019, 03:29:47 AM »
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.
Memories last forever, make them while you can.

Offline Ekay

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #140 on: July 15, 2019, 02:00:37 PM »
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?

Offline Ekay

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #141 on: July 16, 2019, 03:15:33 PM »
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 didnít 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.

Offline as2

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #142 on: July 16, 2019, 04:49:25 PM »


I was using a personal cc legitimately for my business because I didnít 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.
Memories last forever, make them while you can.

Offline lakewood34

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #143 on: July 16, 2019, 07:57:25 PM »
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 didnít 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?

Offline Ekay

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #144 on: July 18, 2019, 10:11:04 AM »
was the business account a chase business account or from a different bank?
Chase business acct.

Offline Ekay

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #145 on: July 18, 2019, 10:13:18 AM »

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

Offline TimT

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Offline TimT

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Offline mutchkie1

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #148 on: July 29, 2019, 11:29:15 AM »
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!

Offline Dan

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #149 on: July 29, 2019, 11:30:01 AM »
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.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.