CHASE closed ALL accounts!!!!!!!

[KSMH]

Picture a scenario where some ended up with high CC debt, how would he succeed in arbitration?

In court there are multiple avenues including sympathetic judges who dont like corporate America that can avoid a bankruptcy.

I have read stories where people have been successful using the arbitration route in cases of account closures or points forfeiture, but for debt? How would they find you in the right?

[aygart]

So, we have a forum in which many people engage in risky behavior with their credit cards, yet the only item purple care about whether they can use the court system or would be required to use arbitration is regarding shutdown letters? Got it.

[CountValentine]

Picture a scenario where some ended up with high CC debt, how would he succeed in arbitration?

It wouldn't succeed and shouldn't.

[CountValentine]

So, we have a forum in which many people engage in risky behavior with their credit cards, yet the only item purple care about whether they can use the court system or would be required to use arbitration is regarding shutdown letters? Got it.

We all need to play by the rules. If I am engaging in risky behavior and you want to shut me down then just state the behavior that I am engaged in. Not some non-compliant canned response.

Chase had every right to close the OP CC's. The OP has every right to know the reason why.

[aygart]

We all need to play by the rules. If I am engaging in risky behavior and you want to shut me down then just state the behavior that I am engaged in. Not some non-compliant canned response.

Chase had every right to close the OP CC's. The OP has every right to know the reason why.

Very true, but nothing at all to do with what I wrote but rather a prime example of what I am incredulous about.

[CountValentine]

Very true, but nothing at all to do with what I wrote but rather a prime example of what I am incredulous about.

Was just making sure you were not lumping us (involved in risky behavior) all together.

[aygart]

Was just making sure you were not lumping us (involved in risky behavior) all together.

Of course there are some more and some less. Anyone dealing with the numbers you have described has a risk which can be much more important than shutdown letters even if they don't do buying groups of the like.

[KSMH]

It wouldn't succeed and shouldn't.

In court there are chances you may succeed.

The avrage us citizen is more likely to have CC debt then to get shut down by chase and for that reason opting out of arbitration is the right thing for the avrage consumer.

[CountValentine]

In court there are chances you may succeed.

The avrage us citizen is more likely to have CC debt then to get shut down by chase and for that reason opting out of arbitration is the right thing for the avrage consumer.

I explained where it is advantageous to use arbitration. I will leave the other nonsense to everyone else.

[AJK]

Because of all the winning results I know of.
If you have seen winning results of these types of cases by a lawsuit in state/federal courts that would be a valuable data point.

So... your response, which fails entirely address any of these, is entirely anecdotal, which is generally regarded as being limited in value due to a number of potential weaknesses, and could constitute a "hasty generalization."

To further the point, how many successful or unsuccessful arbitration claims do you "know of?"  How many lawsuits?

[AJK]

I explained where it is advantageous to use arbitration.

Where? Why?

[CountValentine]

Not you again. 

[gingyguy]

hypothetical question. Would saying something is covered by a NDA be a violation of a NDA?

I hope not!

Had to sign an NDA for the day. Sorry guys.

[Ekay]

I have been banking with chase for quite a few years now. I have a pc account and never did anything suspicious on my account. Just saw this morning that all my cc’s are closed, and after calling my banker, she told me there is a note on my accounts that they will be closed. I have no idea what could have triggered this as I use my cc’s and bank accounts in a normal legit manner. I never missed a payment, wasn’t involved in any funny transactions/ loans. Any clue what this can be? Any advice on how I can get this reinstated?

[Yitz]

I have been banking with chase for quite a few years now. I have a pc account and never did anything suspicious on my account. Just saw this morning that all my cc’s are closed, and after calling my banker, she told me there is a note on my accounts that they will be closed. I have no idea what could have triggered this as I use my cc’s and bank accounts in a normal legit manner. I never missed a payment, wasn’t involved in any funny transactions/ loans. Any clue what this can be? Any advice on how I can get this reinstated?

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.

[~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.