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Author Topic: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!  (Read 87472 times)

Offline yandmk

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #60 on: June 27, 2018, 01:14:30 PM »
Was this other cc application with Chase?

Was this application before or after the closure of the Freedom card?
The application was with Chase in branch (no 2bm shtick etc.) last week. He noticed the closure when he logged in yesterday

Offline ChaimMoskowitz

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #61 on: June 27, 2018, 01:26:25 PM »
The application was with Chase in branch (no 2bm shtick etc.) last week. He noticed the closure when he logged in yesterday
It is well known now that applications will now result in a review of the account/s.
I just found a new supply of forks!

Offline yandmk

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #62 on: June 27, 2018, 02:06:09 PM »
It is well known now that applications will now result in a review of the account/s.
And therefore? They're allowed to just close an account without giving any reason? No fraud on this account whatsoever. (I looked into this myself)

Online TimT

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #63 on: June 27, 2018, 02:08:58 PM »
They're allowed to just close an account without giving any reason?
yup
They said he'll receive a letter in a few days.

Offline yandmk

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #64 on: June 27, 2018, 02:13:46 PM »
yup
Sorry to sound so dumb, but how is that Democratic? This guy had 45,000 UR points that he's been saving up for the past 2 years. And they can just shut on him, seriously?!

Online TimT

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #65 on: June 27, 2018, 02:15:59 PM »
Sorry to sound so dumb, but how is that Democratic? This guy had 45,000 UR points that he's been saving up for the past 2 years. And they can just shut on him, seriously?!
read all the fine print, they leave themselves lots of leeway to do as they see fit. You don’t like it, go fight it.

Offline yandmk

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Offline Dan

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #67 on: June 27, 2018, 02:20:13 PM »
Sorry to sound so dumb, but how is that Democratic? This guy had 45,000 UR points that he's been saving up for the past 2 years. And they can just shut on him, seriously?!
He should be able to use them still.
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 rileywiles23

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #68 on: June 27, 2018, 02:22:15 PM »
PSA: Chase doesn't like checks from buying groups going into your personal checking account ( don't know about business ) 

I got a letter stating that I have to call the compliance Dept to update info. on my account, and if not they'll close my account's.

They specifically asked me about 4 large checks from a few different buying groups - which is what prompted the  review.

 Was told that Accounts are ok now, but I preemptively closed all my accounts.

As Searchguy said, it's just not worth it.

Be careful out there folks
Life is as good as you make it...

Offline aygart

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #69 on: June 27, 2018, 02:27:13 PM »
Sorry to sound so dumb, but how is that Democratic? This guy had 45,000 UR points that he's been saving up for the past 2 years. And they can just shut on him, seriously?!
Democratic?
Feelings don't care about your facts

Offline myi

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #70 on: June 27, 2018, 02:36:26 PM »
   Curios to know if it has to do with the average daily balances you have in your account? And then factoring cc, checking,savings, checks you deposit, UR points you have stored.
   After factoring all of the above, Just plain and simple it's not worth it for them having you as a chase client as there's millions who bank with chase and having clients who's causing them a loss or ringing every cent and ms'ing with their cc, depositing lots of checks, and high balances, it's just a lose lose preposition.
  Think it makes a lot of sense. That's a reason to split your banking across multiple banks when playing like this.
 I can almost guarantee someone who's running a ligit bussiness and filing taxes meaning all work on the books won't be seeing account closures at random, most these people have a few dollars sitting around in the banks which is a reason alone they want these customers and there making normal or even if high purchases it's worth it for them as they have cc which they've been using for years with paying the AF if  it's a card that's needed to be paid.
   As the famous saying goes "the ends justify the means", look at what the end of the day is whats your game plan with banking with chase you there for your own benefit and milking then for every penny you can get a hold off then their goes the means.
   Then again there's always the few exceptions where mistakes happens as were all humans and a simple phone call or two should get things back up and running after clarifying what,where and why.
 And lastly if your not interested in living on the edge then yes bank elsewhere, even though you might not have a chase bank Accnt you can still have your cards open without having that worry that your cc and bank Accnt will be shut.(Lol it will only be one of them.)😋
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Offline Dan

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #71 on: June 27, 2018, 02:37:27 PM »
PSA: Chase doesn't like checks from buying groups going into your personal checking account ( don't know about business ) 

I got a letter stating that I have to call the compliance Dept to update info. on my account, and if not they'll close my account's.

They specifically asked me about 4 large checks from a few different buying groups - which is what prompted the  review.

 Was told that Accounts are ok now, but I preemptively closed all my accounts.

As Searchguy said, it's just not worth it.

Be careful out there folks
AKA, don't 💩 where you eat.
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 myi

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #72 on: June 27, 2018, 02:40:53 PM »
He should be able to use them still.
Accidently left an account with a chase ink card which had $95 AF and forgot to pay it, leaving my 70k credit line fall down the drain,while having a few 100,000 thousand UR points as well, they seem to have given you 30 days to do what you want with it, but it could be different where your account is shut which locks your points or thereby freezing them, if no account how do you have access to your UR points?
(Yes you might have a login.)
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Offline myi

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #73 on: June 27, 2018, 02:43:36 PM »
PSA: Chase doesn't like checks from buying groups going into your personal checking account ( don't know about business ) 

I got a letter stating that I have to call the compliance Dept to update info. on my account, and if not they'll close my account's.

They specifically asked me about 4 large checks from a few different buying groups - which is what prompted the  review.

 Was told that Accounts are ok now, but I preemptively closed all my accounts.

As Searchguy said, it's just not worth it.

Be careful out there folks
Wonder if it helps to deposit into another bank while paying your chase cards with that bank?
  Breaking up check amounts?
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Offline normathej

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #74 on: June 27, 2018, 02:51:06 PM »
PSA: Chase doesn't like checks from buying groups going into your personal checking account ( don't know about business ) 

I got a letter stating that I have to call the compliance Dept to update info. on my account, and if not they'll close my account's.

They specifically asked me about 4 large checks from a few different buying groups - which is what prompted the  review.

 Was told that Accounts are ok now, but I preemptively closed all my accounts.

As Searchguy said, it's just not worth it.

Be careful out there folks

What is your threshold for "large" checks?

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?
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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!