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« Last edited by myi on July 10, 2018, 01:57:16 AM »

Author Topic: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!  (Read 21471 times)

Offline Shmuli11

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #75 on: June 27, 2018, 02:53:38 PM »
There is a lot of hype in this thread.

Chase also has one of the best online banking system in the world and people move to Chase for that reason alone.

Chase has a specific portfolio of customers. Customers they are 100% sure that they are safe customers. Anyone I know who was cancelled had messy accounts.

Chase closes accounts that have lots of international payments, wires, cash deposits, go negative etc (even business accounts are at risk). If you are using a personal bank account like a business (i.e. to rack up miles or to help your family and friends rack up miles) it's only a matter of time.

As others wrote, if you use it for your paychecks and expenses, you probably shouldn't have an issue.

Another way to be cancelled is if you are a 60 year old man and have a relative in the same house or building who is opening up lots of credit cards or if your credit score dropped to 400 (not saying this is what happened).

AKA, don't 💩 where you eat.

Offline ChaimMoskowitz

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #76 on: June 27, 2018, 02:53:53 PM »
AKA, don't 💩 where you eat.
I used to say the same thing. Times have changed especially with WM.
I just found a new supply of forks!

Offline mmgfarb

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #77 on: June 27, 2018, 02:54:26 PM »
Wonder if it helps to deposit into another bank while paying your chase cards with that bank?
Yes
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Offline mmgfarb

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #78 on: June 27, 2018, 02:55:18 PM »
I used to say the same thing. Times have changed especially with WM.
WM?
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline ChaimMoskowitz

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #79 on: June 27, 2018, 02:55:24 PM »
They're allowed to just close an account without giving any reason?
Checking/savings yes but with CC they need to give a specific reason.
I just found a new supply of forks!

Offline Shmuli11

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #80 on: June 27, 2018, 02:58:32 PM »
Checking/savings yes but with CC they need to give a specific reason.

A specific reason doesn't mean you will understand the reason or that it will make any sense.

Offline ChaimMoskowitz

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #81 on: June 27, 2018, 03:00:58 PM »
A specific reason doesn't mean you will understand the reason or that it will make any sense.
Actually it does otherwise take them to arbitration.
I just found a new supply of forks!

Offline Eliyohu

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #82 on: June 27, 2018, 03:05:08 PM »
Has anyone heard of a story of someone who does "regular" all around banking--i.e. uses checkings/savings for ordinary deposits, withdrawals, maybe DD, uses CCs for regular spending--that has had their accounts closed? I have not, though I'm not saying it hasn't happened.
A 25yr old friend who was using chase exclusively for regular banking, no shtick at all got shut down a few months ago after moving a few thousand dollars from his own bank of America account. They never gave him a reason. It was a royal pain to get his money out.

Offline ChaimMoskowitz

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #83 on: June 27, 2018, 03:13:37 PM »
A 25yr old friend who was using chase exclusively for regular banking, no shtick at all got shut down a few months ago after moving a few thousand dollars from his own bank of America account. They never gave him a reason. It was a royal pain to get his money out.
They held his money?
I just found a new supply of forks!

Offline ruv

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #84 on: June 27, 2018, 03:19:14 PM »
Is paying business CC with personal chase account or personal CC with business account problematic?

Thank you all.

Offline Eliyohu

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #85 on: June 27, 2018, 03:20:18 PM »
They held his money?
Ye, It took many hours of fighting over the phone and in a branch for them to agree to release the money "in few weeks" after a few more hours and the help of a nice Jewish banker (yes, the one who no longer works at that location, not the one refered to upthread) he got most of the money that day and the rest a few days later..

Offline churnbabychurn

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #86 on: June 27, 2018, 03:33:07 PM »
Why bank with them though???
There is no better online banking system period.

Offline SearchGuy

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #87 on: June 27, 2018, 03:53:40 PM »
There is no better online banking system period.
Tell me why they are better than let say capital one

Online davidrotts63

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #88 on: June 27, 2018, 03:57:32 PM »
They held his money?
THAT is illegal as well, without a valid reason.
(Quit) pulling out the flowers, and watering the weeds. -Peter Lynch

Offline mmgfarb

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #89 on: June 27, 2018, 05:00:29 PM »
Tell me why they are better than let say capital one
I think Cap 1's online banking is great as well, I really don't see Chase's online interface as a good enough reason to bank with them.
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy