04-19-2017 11:29 PM
04-19-2017 11:37 PM
04-20-2017 12:14 AM
Income in the checking does not match the app and thats the reason to close sounds lame and or nuts. I know plenty of people with multiple banks. I think you need a talk with the Branch Manager. Is somebody at Chase angry at you?
04-20-2017 12:29 AM
04-20-2017 02:35 AM
04-20-2017 03:47 AM
04-20-2017 04:23 AM - edited 04-20-2017 04:28 AM
+1 to CreditInspired's last couple of posts. It's really inexplicable that Chase would shut the OP down on the grounds of the income in their debit account not matching the amount of income reported to Chase for credit purposes, particularly as the OP recently had a salary increase, which ought to by any rational calculation improve their position for CLI's and such. I would also advise the OP to take a look at how they're making payments on their accounts and what source they're using to fund those payments; in the absence of anything else, Chase may have gotten spooked by the method/frequency of payments.
What's interesting is that I've been seeing several people report lately that the practice of making multiple payments per month to a given credit card account is in fact causing problems for them. Chase's action is way at the extreme end of the spectrum, but I now wonder if we're going to start seeing any other issuers take less harsh AA's on the same grounds, if that's what it turns out to be.
P.S. Finally, having read that article, I find myself actually being less interested in exploring Chase as a possible credit-card issuer than before, even if there weren't already the issue with my BK (which, as reported elsewhere, will likely result in automatic denial of apps). If they're going to be that harsh, I'm not so sure I want to be a customer of theirs after all...
04-20-2017 05:19 AM - edited 04-20-2017 05:20 AM
FIirst, @KnightOwl101, I am sorry that this happened to you.
Before people make tons of posts about income discrepancy as justification for closing all the Chase accounts, wait until the letter arrives. It is highly likely that there is more to the story than that. Definitely not suggesting that the OP is lying or holding anything back but as we often see with these AA threads more info tends to be become available as time goes on. Even when the letter arrives it is entirely possible that the OP may never know the exact reasons for closures. Creditors are not required to provide that info and are completely free to close accounts as they see fit. If you read other forums, Chase has been known to shut down all of a person's accounts, including checking/savings if they suspect fraud of any kind. Very unlikely that they would suspect fraud from a debit account balance especially at the income level as indicated by OP. So, at least to Chase, I suspect that they see something else.
04-20-2017 05:29 AM
That's true. What makes it so frustrating is that because Chase (or any other lender) isn't obligated to disclose their actual, underlying reasons, there's no way to tell whether what they think they see in someone's credit profile is in fact actually there or whether it's a mirage.
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