Chase A/A Master Thread (Now With Poll)

[SPLP]

My business was total legit no gift cards or ap or evan a cc just checking for like 20 years and was shut down for no reason

I can not believe a bank will shut down a client of 20 years because the had a checking account -- got to be me more!!

[gloreglabert]

I would bet the reviews start with the checking account, as I have 2 friends that were shot down, and none of them are in the credit card business.

But we still don't know the reason. I have a feeling it has to do with third party check deposits aka double endorsed.

My wife's checking account started her review -- her checking was marked for death multiple days before her CC's were closed.

The ONLY activity on her checking account was $500ish ACH in and out once a month to avoid fees.  Literally, that's it.  So the ONLY possible reason to shut her account was because it was unprofitable.  It doesn't get any more clear cut than that.

[SPLP]

My wife's checking account started her review -- her checking was marked for death multiple days before her CC's were closed.

The ONLY activity on her checking account was $500ish ACH in and out once a month to avoid fees.  Literally, that's it.  So the ONLY possible reason to shut her account was because it was unprofitable.  It doesn't get any more clear cut than that.

I have 3 checking accounts with chase-- 2 have not been used in 3 years( they are  life time fee free no minimum balance required etc  ) other does have activity --- I would guess it cost a bank almost nothing to maintain  a checking account that has no activity --I take you at your word , just that chase did not get to be the size bank they are by treating clients the way you describe -- also think how liberal and fair they are when you ask them to match a offer or call for good will etc

[youthink]

I would bet the reviews start with the checking account, as I have 2 friends that were shot down, and none of them are in the credit card business.

But we still don't know the reason. I have a feeling it has to do with third party check deposits aka double endorsed.

I never had a Chase checking account and was still shut down. Dan keeps on implying all of us AA victims did something untoward that we are just not sharing. I don't believe that's true. At least I know I have not been hiding anything in the over two years I've been discussing this here. I did use AP, but plenty of regular spending as well (in fact I was in a store using my sapphire when I found it the card wasn't working).

What is true, is that I opened up 4 chase cards in less than a year and had inquiries and active accounts from other lenders. Chase told me that presented a risk to them and they shut me down. I don't know what triggered this review.

If you think about it, I was shut down for precisely the same reasons it says on a typical credit profile are viewed as risky. Too many inquires, average age wasn't long enough, balances too high on some accounts etc etc. Unlike Amex who takes note of your income in FRs, Chase could not care less and only looks at the credit side of things. They don't care if you pay off your balance in full and never had a late payment.

Unprofitability may be a trigger but the only two stated reasons we know of are 'credit risk' and 'spending not consistent with expectations' whatever that means. Once they get you on that its very difficult to get back in because now you're on  record with them as having a 'negative relationship with the bank.'

[ilherman]

My business was total legit no gift cards or ap or evan a cc just checking for like 20 years and was shut down for no reason

Did you deposit third party checks?
Btw the banker with who I spoke yesterday told me that they got very strict about third party checks and shuting down people for that.

[gloreglabert]

I have 3 checking accounts with chase-- 2 have not been used in 3 years( they are  life time fee free no minimum balance required etc  ) other does have activity --- I would guess it cost a bank almost nothing to maintain  a checking account that has no activity --I take you at your word , just that chase did not get to be the size bank they are by treating clients the way you describe -- also think how liberal and fair they are when you ask them to match a offer or call for good will etc

The cost to them wasn't maintaining the account, it was the $200 bonus they gave her to open the account.  It was clear from her activity that the account was only opened for the bonus -- which is true -- but that's to be expected when you're just handing out two benjamins for twenty minutes of your time.  I've churned checking bonuses for tons of banks and Chase is the only one that's ever shut me down for taking them up on their own promotion.  If they'd let her alone for another three months she would've closed the account herself...but by shutting her down they get to take their $200 back.

[Dan]

Dan keeps on implying all of us AA victims did something untoward that we are just not sharing.

I said no such thing:

If they were just shutting down everyone who is unprofitable then how would FT/MP/DDF not be chock full of everyone getting shut down.
I think most people are just holding back the full details though I'm sure some people probably did nothing wrong per se.

[gloreglabert]

I said no such thing:

I think the point is just that whatever 'wrongdoing' people might or might not have done is NOT, in many cases, the cause of the current wave of shutdowns.  They're targeting people with a much broader brush this time around.

[youthink]

I said no such thing:

My apologies. I don't believe even most are hiding something nefarious.

[Dan]

Nefarious is harsh.
I don't think a 3rd part check is nefarious.  But I do think many people aren't owning up to the entire circumstances.
And I'm not denying that some are getting caught up for no obvious reason, but I do think that's the minority.

[yoss6400]

Did you deposit third party checks?
Btw the banker with who I spoke yesterday told me that they got very strict about third party checks and shuting down people for that.

Never deposited a third party check. The only thing that might be is a wire transfer to chinato pay a vendor

[CountValentine]

Maybe, but I challenge you to find someone who was AAd with only one card.

Weak. I challenge you to find the DDF'er with just 1 Chase card.

You just lost your challenge.

[youthink]

You just lost your challenge.

I'm sorry to hear. Do tell.

[Shmulyg]

I see many are suddenly mentioning churning the $200 account-opening bonus as a reason for an A/A. Is there any empirical data backing this up?

[youthink]

I see many are suddenly mentioning churning the $200 account-opening bonus as a reason for an A/A. Is there any empirical data backing this up?

The problem is there is no empirical data at all about AAs. Lots of speculation as we collectively try to fight through the clutter to determine some sort of pattern.

[gloreglabert]

I see many are suddenly mentioning churning the $200 account-opening bonus as a reason for an A/A. Is there any empirical data backing this up?

1. The only suspicious things my wife and I ever did was blatantly churning the $200 checking bonuses and buying Chase gift cards.
2. Tons of FTers/MPers/DDFers bought way more gift cards than I ever did and never got shut down.
3. My checking account was closed first, followed by CC's several days later.

I think it's the reasonable conclusion to draw.

[CountValentine]

I'm sorry to hear. Do tell.

Nothing to tell. I and many others have received AA from Chase on more than one occasion. The only difference is we know what it is from (MO deposits / churn CL 10-15X/mo). I look at it as part of the game and move on.

[CountValentine]

PSA: In case you have been hibernating in a cave for the last year. If you get a letter saying they are going to close your checking account it is a good bet your CC’s will follow. Get all your points out ASAP.

[Shmulyg]

1. The only suspicious things my wife and I ever did was blatantly churning the $200 checking bonuses and buying Chase gift cards.
2. Tons of FTers/MPers/DDFers bought way more gift cards than I ever did and never got shut down.
3. My checking account was closed first, followed by CC's several days later.

I think it's the reasonable conclusion to draw.

I hear ya. I was about to do my third $200 churn but now i'll have to weigh my options. Anyone else have any data points to add about the $200 churn?

[yoss6400]

what's the time frame to try to get in the game with chase?