Author Topic: CHASE closed ALL accounts!!!!!!!  (Read 112995 times)

Offline Ekay

  • Dansdeals Platinum Elite
  • ****
  • Join Date: Oct 2018
  • Posts: 457
  • Total likes: 8
  • DansDeals.com Hat Tips 1
    • View Profile
  • Location: NYC
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

  • Dansdeals Platinum Elite
  • ****
  • Join Date: Oct 2018
  • Posts: 457
  • Total likes: 8
  • DansDeals.com Hat Tips 1
    • View Profile
  • Location: NYC
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 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.

Offline as2

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Mar 2013
  • Posts: 5671
  • Total likes: 917
  • DansDeals.com Hat Tips 24
  • Gender: Male
    • View Profile
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 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.
Memories last forever, make them while you can.

Offline lakewood34

  • Dansdeals Platinum Elite
  • ****
  • Join Date: Jun 2017
  • Posts: 386
  • Total likes: 51
  • DansDeals.com Hat Tips 62
    • View Profile
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 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?

Offline Ekay

  • Dansdeals Platinum Elite
  • ****
  • Join Date: Oct 2018
  • Posts: 457
  • Total likes: 8
  • DansDeals.com Hat Tips 1
    • View Profile
  • Location: NYC
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

  • Dansdeals Platinum Elite
  • ****
  • Join Date: Oct 2018
  • Posts: 457
  • Total likes: 8
  • DansDeals.com Hat Tips 1
    • View Profile
  • Location: NYC
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

  • Dansdeals Lifetime 20K Presidential Platinum Elite
  • ********
  • Join Date: Dec 2013
  • Posts: 22077
  • Total likes: 7130
  • DansDeals.com Hat Tips 12
    • View Profile

Offline TimT

  • Dansdeals Lifetime 20K Presidential Platinum Elite
  • ********
  • Join Date: Dec 2013
  • Posts: 22077
  • Total likes: 7130
  • DansDeals.com Hat Tips 12
    • View Profile

Offline mutchkie1

  • Dansdeals Bronze Elite
  • *
  • Join Date: Feb 2015
  • Posts: 29
  • Total likes: 1
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: Monsey, NY
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

  • Administrator
  • Dansdeals Lifetime 50K Diamond Elite
  • **********
  • Join Date: May 2008
  • Posts: 67599
  • Total likes: 16912
  • DansDeals.com Hat Tips 16442
  • Gender: Male
    • View Profile
  • Location: CLE
  • Programs: UA GS, AA EXP, DL Dirt, Hyatt Glob, Fairmont Lifetime Plat, DD Diamond, Blocked By @NeriaKraus
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.

Offline mutchkie1

  • Dansdeals Bronze Elite
  • *
  • Join Date: Feb 2015
  • Posts: 29
  • Total likes: 1
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: Monsey, NY
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 don’t 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!


Offline CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 15788
  • Total likes: 7316
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
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.
Only on DDF does 24/6 mean 24/5/half/half

Offline CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 15788
  • Total likes: 7316
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
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.
Only on DDF does 24/6 mean 24/5/half/half

Offline grodnoking

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Nov 2014
  • Posts: 5847
  • Total likes: 767
  • DansDeals.com Hat Tips 17
    • View Profile
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.

Offline CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 15788
  • Total likes: 7316
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
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.
Only on DDF does 24/6 mean 24/5/half/half

Offline 12HRS

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jun 2013
  • Posts: 5108
  • Total likes: 575
  • DansDeals.com Hat Tips 6
    • View Profile
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

Offline CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 15788
  • Total likes: 7316
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
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?
Only on DDF does 24/6 mean 24/5/half/half

Offline 12HRS

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jun 2013
  • Posts: 5108
  • Total likes: 575
  • DansDeals.com Hat Tips 6
    • View Profile
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

  • Dansdeals Lifetime 20K Presidential Platinum Elite
  • ********
  • Join Date: Jun 2011
  • Posts: 25419
  • Total likes: 721
  • DansDeals.com Hat Tips 15
  • Gender: Male
    • View Profile
  • Programs: United Concierge Key; Delta Global Services; American Chairman; US Airways 1K; Hilton Sapphire; Hyatt Tritium; Marriott Californium; Starwood Kryptonium; Hertz Plutonium; National Adamantium, Avis Executive Proactanium
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
2015: 116K bkd | 1.6M brnd | F: OZ,NH,AA,EK | J: UA,CA,TK,DL,TN,AF,VA | LIH,NRT,ROR,PEK,CNS,BOB,MEL,TLV & Pacific Hopper

Offline Ekay

  • Dansdeals Platinum Elite
  • ****
  • Join Date: Oct 2018
  • Posts: 457
  • Total likes: 8
  • DansDeals.com Hat Tips 1
    • View Profile
  • Location: NYC
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 didn’t find anything else wrong.