Author Topic: CHASE closed ALL accounts!!!!!!!  (Read 29013 times)

Offline mutchkie1

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #150 on: July 29, 2019, 11:31:53 AM »
Per Dan - Reason for Closing Account

Using your credit line multiple times in a month
Banks donít love it when you pay off your bill several times in middle of a month just in order to be able to spend beyond what your monthly credit line is.

You would think they would love that as they are making 2-3% on every purchase that you make!


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Re: CHASE closed ALL accounts!!!!!!!
« Reply #151 on: July 29, 2019, 11:35:58 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!
Chase doesn't care. Try paying your CC in cash at a branch.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #152 on: July 29, 2019, 11:37:17 AM »
You would think they would love that as they are making 2-3% on every purchase that you make!
They don't want the exposure. If they did instead of giving a 20K CL they would have gave 100k.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #153 on: July 29, 2019, 11:53:50 AM »
They don't want the exposure. If they did instead of giving a 20K CL they would have gave 100k.
If you paid it off then there is no credit for the original money spent.
I'm not who you think I am.

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #154 on: July 29, 2019, 11:57:09 AM »
If you paid it off then there is no credit for the original money spent.
What if someone cycles their CL 20 times in a month and then do all charge backs? This is a real life situation I am talking about.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline 12HRS

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #155 on: July 29, 2019, 12:01:04 PM »
What if someone cycles their CL 20 times in a month and then do all charge backs? This is a real life situation I am talking about.

Wasn't there a case where courts ruled that once you paid bill you can no longer chargeback? Or am i confusing something else

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #156 on: July 29, 2019, 12:20:19 PM »
Wasn't there a case where courts ruled that once you paid bill you can no longer chargeback? Or am i confusing something else
Not sure but is having a 100k credit balance and drawing it down considered paying your bill?
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline 12HRS

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #157 on: July 29, 2019, 01:21:21 PM »
Not sure but is having a 100k credit balance and drawing it down considered paying your bill?

Not sure

Offline AJK

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #158 on: July 29, 2019, 02:04:54 PM »
Wasn't there a case where courts ruled that once you paid bill you can no longer chargeback? Or am i confusing something else

Very limited ruling
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Offline Ekay

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #159 on: July 29, 2019, 02:58:05 PM »
Yup. I'm skeptical that this is an issue.
Didn't make sense to me either but I heard this from a very high ranking banker which has been in Chase for years and has seen it all. He has a lot of experience in this area including appealing and reinstating accounts. He went through my whole account and didnít find anything else wrong.

Offline mutchkie1

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #160 on: July 30, 2019, 12:26:36 AM »
My accounts were closed even though Chase owed me money on every account, from $100 to $8,000!

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #161 on: July 30, 2019, 12:32:11 AM »
My accounts were closed even though Chase owed me money on every account, from $100 to $8,000!
They owed YOU money?! Now we know what the issue was.
I'm not who you think I am.

Offline iluv2travel

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #162 on: July 30, 2019, 02:08:09 AM »
Didn't make sense to me either but I heard this from a very high ranking banker which has been in Chase for years and has seen it all. He has a lot of experience in this area including appealing and reinstating accounts. He went through my whole account and didnít find anything else wrong.

I've been paying personal cards from a non Chase business account for years so I would have to say I'm skeptical too. As mentioned up thread my accountant treats it as a draw and it doesn't go in as a business expense. I discussed it at length with him prior to actually doing this.

So I think you need to dig for another reason.

Offline Ekay

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #163 on: July 30, 2019, 10:49:04 AM »
I've been paying personal cards from a non Chase business account for years so I would have to say I'm skeptical too. As mentioned up thread my accountant treats it as a draw and it doesn't go in as a business expense. I discussed it at length with him prior to actually doing this.

So I think you need to dig for another reason.
I was using a chase business acct to pay a Chase personal card. They call it commingling funds.....

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #164 on: July 30, 2019, 11:08:38 AM »
I was using a chase business acct to pay a Chase personal card. They call it commingling funds.....
I wonder what they call paying a CC with cash, money laundering?  :)
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch