PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!

[PNWBear]

Were you consistently cycling your credit limit on one or more cards?

[SearchGuy]

All my 3 cards were shut down yesterday. Checking acct still active. Called numerous times, nobody has info. Keep saying I need to wait for the letter. Anybody here with luck reinstating? And how to go about this.

How do you know bank accounts are not closed? they give you 30 days, so of course you don't see it online, but wait for the letter

[Naftuli19]

How do you know bank accounts are not closed? they give you 30 days, so of course you don't see it online, but wait for the letter

had it with my sisters account they only closed the cc not bank with reason that they don't trust her with credit.

[bkboy]

Did you apply for a new CC recently?

No. not in the last 2 years

[bkboy]

Nothing wrong with this, must be some other reason.

waiting for the letter. But the chase supervisor told me it was something to do with my chase ink business card that caused the shutdown

[bkboy]

Were you consistently cycling your credit limit on one or more cards?

never cycled. always paid the full amount due before the due date each month

[ludmila]

never cycled. always paid the full amount due before the due date each month

I hope the letter explains the reason, sometimes they do not.

[gingyguy]

I hope the letter explains the reason, sometimes they do not.

if you write to them , they are required to tell you the reason.

[ilherman]

if you write to them , they are required to tell you the reason.

Required by whom?

[gingyguy]

Required by whom?

I think the CFPB .
It's been discussed a lot in the Chase A/A thread

For CC shutdowns they are required to give you a specific reason. Send a certified letter requesting it.

[bkboy]

Any hope for reinstatement with these shutdowns?

[qwerty123]

how long do they give you to withdraw your money from bank accounts after shutdown?

[Z56]

how long do they give you to withdraw your money from bank accounts after shutdown?

 30 or 90 days depends

[bkboy]

Received the letter. No reason stated. Chase is closing all my credit cards AND bank accounts. Have 30 days to use the points.

[DoreshEmes]

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.

I just had an account frozen and closed and all I did was direct deposit.

[S209]

I just had an account frozen and closed and all I did was direct deposit.

Direct deposit as in regular, from your actual work? Not from a buying group or for a bank account Bonus?

[12HRS]

I am starting to become a firm believer in not having a chase checking for anything. even a QP with the wrong person may eventually get a shutdown.

[ib3]

Is there no legal stand for all this. If someone can prove that they didn't violate a single t&c and they are 100% kosher, does the bank still have the right to close accounts?

[yk]

Got a letter today that they decided to close my (joint) bank account, and therefore my wife and my credit cards. No reason given for closing the bank account. Was a secondary account and both the bank and cc had very little activity.

Happens to be that my credit cards were once closed, and they allowed me to reopen them.

Any ideas of how to get this reversed?

[KSMH]

OzarksFirst.com: New J.P. Morgan Chase Bank contract clause prompts retaliation.
https://www.ozarksfirst.com/news/new-jp-morgan-chase-bank-contract-clause-prompts-retaliation/2078946540