Chase closed most of my credit cards

[longtimelurker]

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@newUser0 wrote:

Sure!! 

I will start using for other spends from tomorrow. Feeling better Thanks

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Question is can you charge, not because you are shut down, but because your available credit is -ve?   If you can't, it's worth calling Chase, as they already know what you were doing (not in detail but may have been told be the cashier)

[lg8302ch]

I am in shock. What I really do not get is that Chase approves cards just to close them afterwards? That does not make sense to me. If 4 new accounts is too much they should decide before and decline cards from a certain point rather than approving and closing out all at the same time afterwards...Hope the executive office can come up with an acceptable solution! All the best to my credit idol Enharu 

[longtimelurker]

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@red259 wrote:

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@B335is wrote:

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@newUser0 wrote:

I am really very sorry about this. Just now, I got my CSP (5K) card by UPS. 

I went to CVS to get some VR. They will be usually out of stock, but today they had 6. That's what was needed to meet my spending requirements. Then, swiped my card for 3.1K. It did not went through, and asked the cashier to call the back to be approved.

Later Chase Fraud team called me up immediately, asked 10-15 Questions about CR and all and then they approved the charges. I am really getting VERY VERY SCARED now... 

This is my 3rd card with chase in less than 2 months...

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I never MS with Chase because they seem to be the most sensitive, I'm glad it worked out for you and thanks for confirming my thoughts on it.

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Chase isn't the most sensitive. I mean you can't do large amounts of MS, but Amex is way more sensitive. Obviously, you don't want to do a large of amount of MS on a brand new card, but its not the end of the world. Amex has been known to shutdown accounts for less than this.

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It all depends, some people successfully do large amounts on Amex (it's what Blue Cash is for!).   But in any case, I don't think this teaches anything about Chase and MS.   This was a lot of spending at one time on a new card, and caused a fraud alert, and this probably would have happened with any purchase of a similar size.

Now if Chase has said "We will allow the charge but per our terms and conditions, you will not earn points on this purchase", that would have been different.  Or, as Amex, Citi and WF have done recently, warned the user to keep those type of charges down.  But this is a just a fraud check.

[B335is]

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@longtimelurker wrote:

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@red259 wrote:

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@B335is wrote:

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@newUser0 wrote:

I am really very sorry about this. Just now, I got my CSP (5K) card by UPS. 

I went to CVS to get some VR. They will be usually out of stock, but today they had 6. That's what was needed to meet my spending requirements. Then, swiped my card for 3.1K. It did not went through, and asked the cashier to call the back to be approved.

Later Chase Fraud team called me up immediately, asked 10-15 Questions about CR and all and then they approved the charges. I am really getting VERY VERY SCARED now... 

This is my 3rd card with chase in less than 2 months...

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I never MS with Chase because they seem to be the most sensitive, I'm glad it worked out for you and thanks for confirming my thoughts on it.

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Chase isn't the most sensitive. I mean you can't do large amounts of MS, but Amex is way more sensitive. Obviously, you don't want to do a large of amount of MS on a brand new card, but its not the end of the world. Amex has been known to shutdown accounts for less than this.

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It all depends, some people successfully do large amounts on Amex (it's what Blue Cash is for!).   But in any case, I don't think this teaches anything about Chase and MS.   This was a lot of spending at one time on a new card, and caused a fraud alert, and this probably would have happened with any purchase of a similar size.

Now if Chase has said "We will allow the charge but per our terms and conditions, you will not earn points on this purchase", that would have been different.  Or, as Amex, Citi and WF have done recently, warned the user to keep those type of charges down.  But this is a just a fraud check.

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Yeah but the subsequent 10-15 questions about CR leads me to steer far away from doing so with Chase. 

When Chase does an FR, they tend to just shut everything down.  At least Amex gives you the option to make your case.

[red259]

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@longtimelurker wrote:

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@red259 wrote:

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@B335is wrote:

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@newUser0 wrote:

I am really very sorry about this. Just now, I got my CSP (5K) card by UPS. 

I went to CVS to get some VR. They will be usually out of stock, but today they had 6. That's what was needed to meet my spending requirements. Then, swiped my card for 3.1K. It did not went through, and asked the cashier to call the back to be approved.

Later Chase Fraud team called me up immediately, asked 10-15 Questions about CR and all and then they approved the charges. I am really getting VERY VERY SCARED now... 

This is my 3rd card with chase in less than 2 months...

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I never MS with Chase because they seem to be the most sensitive, I'm glad it worked out for you and thanks for confirming my thoughts on it.

---

Chase isn't the most sensitive. I mean you can't do large amounts of MS, but Amex is way more sensitive. Obviously, you don't want to do a large of amount of MS on a brand new card, but its not the end of the world. Amex has been known to shutdown accounts for less than this.

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It all depends, some people successfully do large amounts on Amex (it's what Blue Cash is for!).   But in any case, I don't think this teaches anything about Chase and MS.   This was a lot of spending at one time on a new card, and caused a fraud alert, and this probably would have happened with any purchase of a similar size.

Now if Chase has said "We will allow the charge but per our terms and conditions, you will not earn points on this purchase", that would have been different.  Or, as Amex, Citi and WF have done recently, warned the user to keep those type of charges down.  But this is a just a fraud check.

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I totally agree this is not a MS situation, but the way a brand new card was used triggering a fraud alert. That being said now that its popped up on Chase's radar I wouldn't use the account solely for MS as I think further MS without other types of spend may bring more negative attention. 

[sjt]

While I understand Chase (and other banks) point of view and risk management protocols, I think they are being short sided with regards to your situation. You have a strong banking relationship, low utilization, and most of your inquires are for an auto loan. What is your banker doing about this? This says something about CPC.

I really think you should write a letter to EO and Jamie Dimon about your experience and situation.

[longtimelurker]

Right, and OP has reached the $3K threshold to get the bonus, so normal spend can resume!

[longtimelurker]

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@sjt wrote:

While I understand Chase (and other banks) point of view and risk management protocols, I think they are being short sided with regards to your situation. You have a strong banking relationship, low utilization, and most of your inquires are for an auto loan. What is your banker doing about this? This says something about CPC.

I really think you should write a letter to EO and Jamie Dimon about your experience and situation.

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This has been experienced by several people (albeit mainly for "perk abuse") with both Chase and Citi, and probably other banks.   Once the security/risk mitigation or whatever group get involved, no-one else seems to be able to stop the process.  In some cases Private Bankers told clients not to worry, it will be sorted out, and then had to explain that they had been ignored.   Once certain algorithms are set off, human intervention isn't welcomed or allowed.

That said, enharu's case isn't one of abuse, but more of fitting a pattern of risk.  Don't know if that is better or worse....

[starry1]

Enharu, I'm so sorry to hear this.  Hopefully the EO can put things right for you.

[red259]

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@longtimelurker wrote:

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@sjt wrote:

While I understand Chase (and other banks) point of view and risk management protocols, I think they are being short sided with regards to your situation. You have a strong banking relationship, low utilization, and most of your inquires are for an auto loan. What is your banker doing about this? This says something about CPC.

I really think you should write a letter to EO and Jamie Dimon about your experience and situation.

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This has been experienced by several people (albeit mainly for "perk abuse") with both Chase and Citi, and probably other banks.   Once the security/risk mitigation or whatever group get involved, no-one else seems to be able to stop the process.  In some cases Private Bankers told clients not to worry, it will be sorted out, and then had to explain that they had been ignored.   Once certain algorithms are set off, human intervention isn't welcomed or allowed.

That said, enharu's case isn't one of abuse, but more of fitting a pattern of risk.  Don't know if that is better or worse....

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I would think risk may be a bit better. I would think a lender can become more comfortable over time re: a pattern of risk if they see adjustments. A pattern of abuse sounds like it may be something they would be less likely to forgive. Its also easier to explain why certain behavior should not be seen as risky vs trying to justify abuse.