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Regular Contributor
turbowrx
Posts: 244
Registered: ‎10-15-2007
0

Chase closed account... what gives???

My mother tried to use her chase card today......declined.....called in....rep says its closed, read letter in the mail.  I dont understand, she is a ex-wamu customer. Had the card for 2 years never late. CL is 4K, balance is 3346.  Is there a backdoor number she can call to reverse this?? Thanks
Senior Contributor
BungalowMo
Posts: 4,237
Registered: ‎05-01-2008
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Re: Chase closed account... what gives???

I've been hearing that about former WAMU customers.  Chase seems to be cutting the ties or raising the int rate so high, customers request it closed.

 

Sucks....but not sure what you can do.



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Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: Chase closed account... what gives???


turbowrx wrote:
My mother tried to use her chase card today......declined.....called in....rep says its closed, read letter in the mail.  I dont understand, she is a ex-wamu customer. Had the card for 2 years never late. CL is 4K, balance is 3346.  Is there a backdoor number she can call to reverse this?? Thanks

Sorry for your mother's troubles. The highlight above is most likely the reason why. Chase is going through the WaMu accounts they acquired with a scythe. There have been many card closures reported on this board as of 07JUL and 15JUL. According to reports there is no avenue for reconsideration. Were I you I would try calling a backdoor number (if you can find one that is currently working) and give it a shot. Chase is acting most reprehensibly in this case - best comfort I can give you is that your mother is one of millions who either has had or will have their account closed by Chase.

Regular Contributor
turbowrx
Posts: 244
Registered: ‎10-15-2007
0

Re: Chase closed account... what gives???

So now credit report will say, closed by grantor???
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
0

Re: Chase closed account... what gives???

It will - and the account is titled Chase. I doubt anyone will care on an MR. How an account is closed is of no significance as far as FICO scoring is concerned.
Regular Contributor
turbowrx
Posts: 244
Registered: ‎10-15-2007
0

Re: Chase closed account... what gives???

Ok, WOW. I just figured something out. After talking with my mother I found out that the card which was closed had a 9.99% rate until 2010.  Her other chase card ( she has two) was a variable rate which she received a rate jack to 16%.  Funny how they only closed the 9.99 card.... hmmmm..   the 16% has a higher balance also.
Established Contributor
Revike
Posts: 720
Registered: ‎05-04-2007
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Re: Chase closed account... what gives???


turbowrx wrote:
Ok, WOW. I just figured something out. After talking with my mother I found out that the card which was closed had a 9.99% rate until 2010.  Her other chase card ( she has two) was a variable rate which she received a rate jack to 16%.  Funny how they only closed the 9.99 card.... hmmmm..   the 16% has a higher balance also.

Was the 16% also an ex-WaMu account? The current wave of CLDs and closures are specifically targeted at 3 million ex-WaMu accounts ...

Established Contributor
orl2185
Posts: 778
Registered: ‎03-07-2007
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Re: Chase closed account... what gives???

[ Edited ]

turbowrx wrote:
Ok, WOW. I just figured something out. After talking with my mother I found out that the card which was closed had a 9.99% rate until 2010.  Her other chase card ( she has two) was a variable rate which she received a rate jack to 16%.  Funny how they only closed the 9.99 card.... hmmmm..   the 16% has a higher balance also.

Hope those monsters decide not to shut that one down as well. This is doing massive damage to those affected. So sorry to read all those bc.Hope she can start paying it off soon to minimize the damage.

 

Sorry bout that

Message Edited by orl2185 on 07-18-2009 09:07 PM
Message Edited by orl2185 on 07-18-2009 09:08 PM

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Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: Chase closed account... what gives???


Revike wrote:

turbowrx wrote:
Ok, WOW. I just figured something out. After talking with my mother I found out that the card which was closed had a 9.99% rate until 2010.  Her other chase card ( she has two) was a variable rate which she received a rate jack to 16%.  Funny how they only closed the 9.99 card.... hmmmm..   the 16% has a higher balance also.

Was the 16% also an ex-WaMu account? The current wave of CLDs and closures are specifically targeted at 3 million ex-WaMu accounts ...


Did the other account have high utilization? One thing that seems to be saving people from the axe is age combined with low utilization.

Regular Contributor
turbowrx
Posts: 244
Registered: ‎10-15-2007
0

Re: Chase closed account... what gives???

Update.....  yes,  both are ex-wamu accounts.  Good news, she called this morning and after a MR they opened back up the account.  Im not sure if she should keep it though. Who knows.....they might change their mind in a few months..... 

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