Chase AA

[Discover2016]

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@Anonymous wrote:

Update 1: Called first thing and although I was unable to get a rep from the right lending department after speaking with 2 others, the last rep suggested I wait on that letter and respond to the questions in letter. This leads me to believe that it maybe an income verification issue which should hopefully turn this ship around. DW and I recently had to submit documentation to Amex for the same purpose. I will keep you all posted on my progress as this saga unfolds.

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So you recently had an Amex financial review? Do you know what caused it? Interesting..

[Anonymous]

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@Discover2016 wrote:

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@Anonymous wrote:

Update 1: Called first thing and although I was unable to get a rep from the right lending department after speaking with 2 others, the last rep suggested I wait on that letter and respond to the questions in letter. This leads me to believe that it maybe an income verification issue which should hopefully turn this ship around. DW and I recently had to submit documentation to Amex for the same purpose. I will keep you all posted on my progress as this saga unfolds.

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So you recently had an Amex financial review? Do you know what caused it? Interesting..

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Yea... bought a couple of overseas tickets for family back in June, taking advantage of the 0% APR on both cards- Everday and BCE. These were 'loans' and so didnt feel rushed to pay down fast other than when I got chunks of the loans back from family. Well, after 6 months AMEX CLD'd both cards and in order to restore limits needed income verification after stating short membership history and credit reports would not be used in making decision. Both cards were acquired in March and April of last year. Pretty painless process.

[MyLoFICO]

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@Anonymous wrote:

I do have to say that you're taking this as well as anyone that I have seen.  If Chase closed all my cards I'd probably be crying like a big baby or shooting up the neighborhood.

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[Anonymous]

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@Anonymous wrote:

Update 1: Called first thing and although I was unable to get a rep from the right lending department after speaking with 2 others, the last rep suggested I wait on that letter and respond to the questions in letter. This leads me to believe that it maybe an income verification issue which should hopefully turn this ship around. DW and I recently had to submit documentation to Amex for the same purpose. I will keep you all posted on my progress as this saga unfolds.

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Thanks for the update. I think it's BS that lenders can't tell you why they closed your accounts over the phone, and always tell people to wait on the letter. I could see if they suspected fraud or something, but if they closed it for anything else then they should tell you over the phone. Letters can take awhile to get to people, and most people want to know right away why they closed their cards. I know I would be frustrated. Did you try calling one of the backdoor numbers that they have listed here on MyFico, or are you calling their main number?

[n777ua]

FWIW, and I have no hard data to back this up, but the rep who did my review at Chase was very friendly.  The charge was $25k for IVF treatment ; when she found this out she told me she understood how expensive that could be b/c of -her- recent IVF experience.  Maybe she felt bad and restored the cards straight away? I have no idea....but just another data point.  

The largest one time charge I've ever made on any card before that date was probably around $8k

[longtimelurker]

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@Anonymous wrote:

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@Anonymous wrote:

Update 1: Called first thing and although I was unable to get a rep from the right lending department after speaking with 2 others, the last rep suggested I wait on that letter and respond to the questions in letter. This leads me to believe that it maybe an income verification issue which should hopefully turn this ship around. DW and I recently had to submit documentation to Amex for the same purpose. I will keep you all posted on my progress as this saga unfolds.

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Thanks for the update. I think it's BS that lenders can't tell you why they closed your accounts over the phone, and always tell people to wait on the letter. I could see if they suspected fraud or something, but if they closed it for anything else then they should tell you over the phone. Letters can take awhile to get to people, and most people want to know right away why they closed their cards. I know I would be frustrated. Did you try calling one of the backdoor numbers that they have listed here on MyFico, or are you calling their main number?

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It's likely that the CSRs don't have access to the closure reason, and everything is sent in a letter from security/fraud as a matter of policy.   And, to prevent reverse engineering, the reasons given (if any) will be as generic as possible. 

Having one process for fraud and another for other things would give too much information (i.e. "you have to wait for a letter" would indicate suspected fraud).    All the agreements I have seen state that they can close for any or no reason (except those based on prohibited discrimination) so they don't need to say anything.  And that is what their lawyers would like!

[Anonymous]

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@longtimelurker wrote:

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It's likely that the CSRs don't have access to the closure reason, and everything is sent in a letter from security/fraud as a matter of policy.   And, to prevent reverse engineering, the reasons given (if any) will be as generic as possible. 

Having one process for fraud and another for other things would give too much information (i.e. "you have to wait for a letter" would indicate suspected fraud).    All the agreements I have seen state that they can close for any or no reason (except those based on prohibited discrimination) so they don't need to say anything.  And that is what their lawyers would like!

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Ya I understand that, but it doesn't make it suck any less for the people it happens to. When you're waiting in suspense to know "why" that 7-10 days can feel like an eternity. If it was written in a letter, then there has to be someone who knows what that letter says, and they should be able to transfer you to that person so that they can at least read you the generic reasons from the letter. Right?

[longtimelurker]

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@Anonymous wrote:

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@longtimelurker wrote:

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It's likely that the CSRs don't have access to the closure reason, and everything is sent in a letter from security/fraud as a matter of policy.   And, to prevent reverse engineering, the reasons given (if any) will be as generic as possible. 

Having one process for fraud and another for other things would give too much information (i.e. "you have to wait for a letter" would indicate suspected fraud).    All the agreements I have seen state that they can close for any or no reason (except those based on prohibited discrimination) so they don't need to say anything.  And that is what their lawyers would like!

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Ya I understand that, but it doesn't make it suck any less for the people it happens to. When you're waiting in suspense to know "why" that 7-10 days can feel like an eternity. If it was written in a letter, then there has to be someone who knows what that letter says, and they should be able to transfer you to that person so that they can at least read you the generic reasons from the letter. Right?

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At some point, maybe, but I expect the letter has to go through some approvals before it is sent, so nothing might be available if you call in as soon as you find your account is closed (which is of course when you want to call!)

[FinStar]

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@longtimelurker wrote:

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@Anonymous wrote:

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@longtimelurker wrote:

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It's likely that the CSRs don't have access to the closure reason, and everything is sent in a letter from security/fraud as a matter of policy.   And, to prevent reverse engineering, the reasons given (if any) will be as generic as possible. 

Having one process for fraud and another for other things would give too much information (i.e. "you have to wait for a letter" would indicate suspected fraud).    All the agreements I have seen state that they can close for any or no reason (except those based on prohibited discrimination) so they don't need to say anything.  And that is what their lawyers would like!

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Ya I understand that, but it doesn't make it suck any less for the people it happens to. When you're waiting in suspense to know "why" that 7-10 days can feel like an eternity. If it was written in a letter, then there has to be someone who knows what that letter says, and they should be able to transfer you to that person so that they can at least read you the generic reasons from the letter. Right?

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At some point, maybe, but I expect the letter has to go through some approvals before it is sent, so nothing might be available if you call in as soon as you find your account is closed (which is of course when you want to call!)

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Exactly, and as LTL mentioned, a lot of the information that CSRs will not see would be handled by their PRR group.  Lending or standard CSRs will not discuss the specifics until the OP receives the letter with the instructions or number on there.  This isn't something like where someone is declined by Chase and in a immediate haste calls the backdoor number for an appeal.  Doesn't work that way with Chase's PRR.

[Anonymous]

I'm sorry this happened to you OP.