Chase A/A Master Thread (Now With Poll)

[joeb1]

+1

[Avid Reader]

just want to report i spoke to becky this morning she said all my accounts have been re-opened with the same credit lines and are in good standing!

Glad to hear!

[myb821]

since this has happened to me i have heard of it happening to two more people seems like chase may be clamping down a bit

[AJK]

since this has happened to me i have heard of it happening to two more people seems like chase may be clamping down a bit

Wish we knew what it was they're clamping down on.

[AsherO]

Wish we knew what it was they're clamping down on.

Agreed.

[Avid Reader]

Just got word from someone I know that Chase closed all his cards, and his wife's, and his brothers cards. All at living at the same address. This happened on the same or next day after he did multiple CC apps for each of them.

It seems Chase account closure is becoming a trend with new applications. I heard from someone recently who applied for the Chase BA card in June, and they closed his existing card right afterwards.

[HelpMe]

Just got word from someone I know that Chase closed all his cards, and his wife's, and his brothers cards. All at living at the same address. This happened on the same or next day after he did multiple CC apps for each of them.

It seems Chase account closure is becoming a trend with new applications. I heard from someone recently who applied for the Chase BA card in June, and they closed his existing card right afterwards.

+1

At first it seemed Chase was looking at certain charges (gift cards, bank funding) or cycling through you CL several times a month. Once you dig a little deeper you find this is not the case. Most of the data points now points to changes in your CR. They are reacting to increase in number of recent inquires, accounts and balances. As I stated before they are taking no prisoners. When they are closing accounts most of the time it is everything (CC, checking and savings) at the same household.

[Avid Reader]

Though, in the case I mentioned above, they left the Checking accounts intact.

[scwam]

+1

At first it seemed Chase was looking at certain charges (gift cards, bank funding) or cycling through you CL several times a month. Once you dig a little deeper you find this is not the case. Most of the data points now points to changes in your CR. They are reacting to increase in number of recent inquires, accounts and balances. As I stated before they are taking no prisoners. When they are closing accounts most of the time it is everything (CC, checking and savings) at the same household.

So if I have 53% of my credit stock in Chase should I be concerned?
I've noticed all my creditors do "soft pulls" (according to the bureaus) of my report on an average of 2 to 3 times per quarter amongst all of them. I can say that when i worked in fraud for a major card company way back, that we did credit pulls to see if many accounts were possibly being opened by a relative in the house or in particular a person that recently died. But at that time I can not remember if it actually showed up as a hard or soft pull on the user. I've not once had a hard pull myself after being approved, all are soft.
But it makes me wonder if their "hards" are actually coded as "softs" when risk control or credit risk departments feel a need to check. As I understand a soft will only show current name/addresses/social/dob verification and I somewhat remember doing that too years ago. A true "soft pull" would seem like very limited information for a credit card company if they are trying to properly evaluate their risk....unless it's just reflecting to us as a soft pull and really is a hard pull.

[HelpMe]

Though, in the case I mentioned above, they left the Checking accounts intact.

For how long? It is usually a two step process, first CC’s and then checking accounts. Hopefully this won’t be the case.

[HelpMe]

Scwam: All the major CC companies check your CR. I have to admit I am not sure about what info they can see in regards to hard or soft pull. I have never had a hard pull for an account review. My guess is they can see the same info.

[elikay]

Account review does not count as an inquiry, even though they may pull up the same info as an app.

[Avid Reader]

For how long? It is usually a two step process, first CC’s and then checking accounts. Hopefully this won’t be the case.

they just noticed the cards closed yesterday. I sure hope they don't close the ckng accounts.
When Chase closed all my cards a few years ago, they left my checking accounts open.

[AJK]

For how long? It is usually a two step process, first CC’s and then checking accounts. Hopefully this won’t be the case.

Chase did not close OP's checking account (though I thought initially that they did).

[Dan]

There must be some other credit factor we're missing here. 
Plenty of guys have done multiple 3BMs in the past year and have dozens of credit hits and open cards, myself included.
If multiple apps was the sole cause we'd all have been shut down, no?
Plus others have been closed even without multiple apps, we know abusing the AARP card is a trigger for a fact for example.

[myb821]

There must be some other credit factor we're missing here. 
Plenty of guys have done multiple 3BMs in the past year and have dozens of credit hits and open cards, myself included.
If multiple apps was the sole cause we'd all have been shut down, no?
Plus others have been closed even without multiple apps, we know abusing the AARP card is a trigger for a fact for example.

there must be something also why did they re-open mine but wouldnt re open other peoples.

[Avid Reader]

There must be some other credit factor we're missing here. 
Plenty of guys have done multiple 3BMs in the past year and have dozens of credit hits and open cards, myself included.
If multiple apps was the sole cause we'd all have been shut down, no?
Plus others have been closed even without multiple apps, we know abusing the AARP card is a trigger for a fact for example.

1 thing I know the guy did wrong was that he did all the apps in the same browser using different windows or even at different times of day. (he didn't exactly know how to do a 3BM). Is there any possible reason this would be a trigger? I can try to find out the specifics if it would make a difference.
Other then that, I'm pretty sure their credit reports are shiny clean with no debt, late payments etc.

[AsherO]

There must be some other credit factor we're missing here. 
Plenty of guys have done multiple 3BMs in the past year and have dozens of credit hits and open cards, myself included.
If multiple apps was the sole cause we'd all have been shut down, no?
Plus others have been closed even without multiple apps, we know abusing the AARP card is a trigger for a fact for example.

Do you think Chase has a person/department dedicated to hunting down churners (similar to someone we know at an airline which recently filed for bankruptcy )?

[Yellow]

they just noticed the cards closed yesterday. I sure hope they don't close the ckng accounts.
When Chase closed all my cards a few years ago, they left my checking accounts open.

I have personally confirmed that the banking department is not at all related to the lending department, in a sense that if one gets shut down it does NOT mean that he other will get shut down. (When my CC's were shut down my banking accounts were unaffected, and now i know someone who was banned from opening checking accounts with chase (long crazy story there...) and their credit cards are NOT affected. I also spoke to someone from the "back office" who said that lending and banking are basically 2 different institutions under the name Chase

[joeb1]

I have personally confirmed that the banking department is not at all related to the lending department, in a sense that if one gets shut down it does NOT mean that he other will get shut down. (When my CC's were shut down my banking accounts were unaffected, and now i know someone who was banned from opening checking accounts with chase (long crazy story there...) and their credit cards are NOT affected. I also spoke to someone from the "back office" who said that lending and banking are basically 2 different institutions under the name Chase

care to explain?