Author Topic: CHASE closed ALL accounts!!!!!!!  (Read 11947 times)

Offline Dovdovmoneytree

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #15 on: June 03, 2019, 06:10:54 PM »
Spoke to supervisor - what I was able to gather is the purchase of gold coins or bars using a credit card is deemed to be an unauthorized transaction and, therefore, justifies card closing. Her words were basically "we do not authorize the use of our credit card for making investments". She repeatedly asked why I used a credit card than paying by check. I asked her why do I pay my a/c guy by credit card rather than check. Convenience and points. At the end of the year, I receive an expense report showing all my transactions by category. I also told her with gold purchase from Apmex, I would have to either wire them or have them receive a check within 3-5 days of purchase. Then they would have to deposit check and even though it clears my bank in a day, they would wait 5 days. Then after the 5 days they would sort the order and the following day ship the order. I save at least 7 business days using a credit card!

They have become positively nuts! I am trying to diversify my CC accounts as now I am too heavily "invested" with Chase. I don't want to think what would happen to my credit if G-D forbid all my accounts were closed because s/o had a bad hair day  :-\

Offline DealKiller

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #16 on: June 04, 2019, 09:41:50 PM »
I just wanted you to be aware of something crazy. I have 5 Chase accounts (Presidential Plus, Marriott, Saphire, IHG and BA). Today I went to the gas station to fill up my car and my card was declined. I tried another card and it was declined again. I went home and called Chase to find out why. It turns out they closed all my accounts yesterday. I asked them why? I am a lawyer/cpa with a credit rating of approximately 835. It made no sense. The representative said because on review Chase felt that the current monthly charges were much higher than usual and when they close one account, they close all. On my Saphire account ending 3743, I have a $25,000 credit limit. I wanted to buy gold coins, 3 transaction each for $13,000, a total of $39,000. Since I have a $25,000 credit limit, I knew it wouldn't work. So, I previously mailed Chase a check of $50,000. After the check had cleared my bank, I now had a $50,000 credit on my Chase account. When I made the first $13,000 transaction, I received a fraud alert to which I replied that it was me making the purchase. At the end of the day, I bought $39,000 of gold leaving a credit balance of $11,000. The following week or two, I charged an additional $3,000. Total, I have a credit balance of nearly $8,000. Chase owes ME money. I don't owe them. I have a credit balances on 3 of the other 4 accounts. My Presidential Plus card has a balance of $44 but its not due as my last stmt had a zero balance. Supervisor is supposed to call me but I am very very upset. This will kill my credit rating and I will have to change c/c for my phone, etc.

Any suggestions?
You tried to circumvent your monthly credit limit and got caught. My suggestion is learn from your mistake. 

Offline Yitz

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #17 on: June 04, 2019, 10:29:47 PM »
They usually do not even give a reason why they shut you down.

Offline DealKiller

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #18 on: June 04, 2019, 10:33:51 PM »
They usually do not even give a reason why they shut you down.
This shutdown was a no-brainer.

Offline meshugener

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #19 on: June 05, 2019, 02:56:34 AM »
Love me or hate me. I still love you.

Online grodnoking

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #20 on: June 05, 2019, 08:30:59 AM »
I'm not who you think I am.

Offline Davidthebest

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #21 on: June 05, 2019, 08:57:51 AM »
What is CFPB?

Online gingyguy

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May you slide down the banister of happiness & get many splinters of success up your career.

Offline Boruch Parnes

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #23 on: June 05, 2019, 09:06:59 AM »
What is CFPB?
Federal agency in charge of CCs banks it stands for Consumer Financial Protection Bureau

Online sharabob

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #24 on: June 05, 2019, 10:04:28 AM »
Worked for me twice with chase.

in reopening a closed account?

Offline meshugener

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #25 on: June 05, 2019, 10:31:56 AM »
Worked for me twice with chase.
To reopen closed Chase accounts?
No way.
Love me or hate me. I still love you.

Offline Boruch Parnes

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #26 on: June 05, 2019, 10:38:59 AM »
Worked for me twice with chase.
What did you get shut down for?

Online grodnoking

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #27 on: June 05, 2019, 12:28:43 PM »
in reopening a closed account?
To reopen closed Chase accounts?
No way.
Yes.
Way.
I'm not who you think I am.

Offline Davidthebest

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #28 on: June 05, 2019, 12:30:13 PM »
What was your argument ?

Offline ExGingi

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #29 on: June 05, 2019, 12:31:38 PM »
Talking of this, what are savvy DDFers doing about the Binding Arbitration that Chase is putting in its new T&C? Are people opting out?

https://thinkprogress.org/chase-just-tried-to-screw-its-credit-card-holders-heres-how-you-can-screw-them-back-530249232b32/
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan