Chase AA

[JSS3]

Chase closed all 5 of my brother's credit cards accounts. He's waiting on the letter, but I'm pretty positive it's for "Excessive credit seeking". He applied for two Chase credit cards recently. The first card(Disney) in late December which went from a 30 day message to 2 weeks. The second(Hyatt)in early Jan. It went from 30 days to 7-10. 

His chase accounts were as follows:

Slate -1,500     (2yrs 11 Months)
Freedom- 4,000 (2yrs 4 Months)
Freedom Unlimited 1,000 (1yr 11 Months)
Amazon-1,500    (11 Months)
AARP-  4,000 (5 months)

He just paid off the one balance of $7. All are now closed with a zero balance.

He does have a chase checking account. That account DOES NOT say, "This account is closed" when you click on it.

His overall utilization accross 25 cards is 10% (Roughly 16,000 credit debt)

Can he call and apologize and get his accounts back? Will his checking be closed too?

[Anonymous]

Yep, this happens to folks, especially when apping for certain premium cobranded cards I believe (Ritz Carlton especially).  You didn't list what cards he has, so I would suggest updating that list with card names/brands.

Other threads over the years, but there are many more if you search "chase closed all" here:

• http://ficoforums.myfico.com/t5/Credit-Cards/CHASE-CLOSED-ALL-MY-CC-ACCOUNTS/td-p/4736409/page/4
• http://ficoforums.myfico.com/t5/Credit-Card-Applications/Chase-closed-all-my-cards-when-can-I-reappl...
• http://ficoforums.myfico.com/t5/Credit-Cards/NEW-AND-FINAL-UPDATE-Chase-closed-out-all-of-my-cards-w...
• http://ficoforums.myfico.com/t5/Credit-Cards/Chase-Closing-My-Accounts/td-p/4752439
• http://ficoforums.myfico.com/t5/Credit-Cards/Chase-closing-accounts/td-p/4925536

Chance of getting them reopened is close to zero.  It's possible they may lose his checking account later but that's a different department -- but I do believe they do rely on and share the same Chase risk score internally.

[Gmood1]

I know the AA scared folks like to jump on the credit seeking bandwagon around here. But, there are many other things that can make Chase close accounts. Visa is having a war with the crypto currency thing lately.
That will get your accounts shut down in a hot second!
A fraud alert will make them freeze the accounts not close them.

Your brother didn't have a huge exposure with them.
I'd tell him to move in to greener pastures. Chase isn't the only show in town..thank goodness. lol

[Anonymous]

---

@Gmood1 wrote:
I know the AA scared folks like to jump on the credit seeking bandwagon around here. But, there are many other things that can make Chase close accounts. Visa is having a war with the crypto currency thing lately.
That will get your accounts shut down in a hot second!
A fraud alert will make them freeze the accounts not close them.

---

Yep -- I never buy crypto using a credit card, and I have a bank account that I solely use for crypto and that bank doesn't care whatsoever.  Been using them since 2012, sometimes for 5 digit purchases or sales, and they never blink an eye.  Chase, on the other hand, is a bank I wouldn't cross with my crypto at all.  Just in case.

[Anonymous]

You list that he has $16k in credit card debt?  Not sure if you mean total credit lines.  If it's debt, then the 10% UTI implies $160k in total credit lines across 25 cards.  He must have a couple large cards then, since the Chase lines listed below aren't very big.  What is his income?  With the CL's they've given him, you can tell that they weren't really confident, which when combined with frequent inquiries might have spooked them.  Was he recently carrying larger balances with Chase?  Was he applying for credit outside of Chase as well?

[UpperNwGuy]

As always, there has to be a reason.  There is probably more to this story.

[JSS3]

---

@Anonymous wrote:

You list that he has $16k in credit card debt?  Not sure if you mean total credit lines.  If it's debt, then the 10% UTI implies $160k in total credit lines across 25 cards.  He must have a couple large cards then, since the Chase lines listed below aren't very big.  What is his income?  With the CL's they've given him, you can tell that they weren't really confident, which when combined with frequent inquiries might have spooked them.  Was he recently carrying larger balances with Chase?  Was he applying for credit outside of Chase as well?

---

16,000 in credit card debt. None of the debt was on the 5 Chase accounts. He only owed 1 Chase account 7 dollars which he paid off before this happened. He really only uses the Chase Freedom with small purchases on the others to keep them active.

56,000 income

NO recent large balances with Chase. 

His recent accounts OUTSIDE of chase were DSW Visa(8months) Barclays Uber(1month) and Paypal 2% Mastercard(0 month).

[JSS3]

---

@UpperNwGuy wrote:

As always, there has to be a reason.  There is probably more to this story.

---

I will update the thread when he receives the letter. We work close together and I have access to his accounts. I got his started with credit. I was the one who told him to apply for new Chase cards to move the limits. I feel somewhat repsonsible. Luckily(or unfortunately depending on how you look at it) the only card that he liked was the Freedom. The Slate(with it's very low limit and no rewards) was only beneficial because of the free FICO. Amazon only gave 3% because he was not a Prime member.

[Gmood1]

The $16,000 could have spooked them. Especially if his reports shows him paying minimum payments regularly.

[JSS3]

---

@Gmood1 wrote:
The $16,000 could have spooked them. Especially if his reports shows him paying minimum payments regularly.

---

Never a minimum payment. He also didn't owe anything on his Chase accounts for them to see him only pay the minimum. 

I know all the ins and outs because I got him started in credit. I have been advising him along the way. He gives me access to his accounts to pay and monitor them. He's the type to work and let me handle everything else. I know when he gets paid so I log in and pay them, as well as monitor, along with paying my own.