Author Topic: CHASE closed ALL accounts!!!!!!!  (Read 41139 times)

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.

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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.

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!


Offline CountValentine

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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

Offline CountValentine

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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.

Offline CountValentine

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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

Offline CountValentine

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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.