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Frequent Contributor
Posts: 404
Registered: ‎02-22-2017

Re: Chase closing accounts

Seeing some crazy account closings from the big banks today. Nuts. 

 

If if they were having a concern of income, why not simply hit him with POI or we are going to close your accounts message. To just close the accounts over something like this seems asinine. 

Contributor
Posts: 694
Registered: ‎02-07-2017

Re: Chase closing accounts


rmm140 wrote:

Seeing some crazy account closings from the big banks today. Nuts. 

 

If if they were having a concern of income, why not simply hit him with POI or we are going to close your accounts message. To just close the accounts over something like this seems asinine. 


What's interesting is a common thread I see in this thread as well as the BoA thread, as well as other reports of wholesale account closures from Synchrony, Comenity, etc.; that, in many though not all cases, the CL's involved are often quite big, eye-poppingly so sometimes. It really makes me start to wonder if there's such a thing as a credit line that is too big, and if maybe some people aren't courting trouble by pushing too hard and fast for CLI's and what not.

Rebuilding credit since 2015 (BK filed 8/14, discharged 12/14) - started out in 570's, now approaching 700 (FICO 5/12:TU 640/EX 675/EQ 659 FICO 8 or 690 NG 2, VS 3.0 4/21/17: TU 683/EX 685/EQ 691)! $951 Cap One secured/$3000 Cap One unsecured/$800 Amazon Prime Store Card/$2500 Discover It )/$4000 Overstock Store Card/$10k PenFed used car loan/$5k Navient student loan. Back in the garden until Sept. 2017 unless I get an offer I can't possibly refuse...
Frequent Contributor
Posts: 404
Registered: ‎02-22-2017

Re: Chase closing accounts


joe8185 wrote:

rmm140 wrote:

Seeing some crazy account closings from the big banks today. Nuts. 

 

If if they were having a concern of income, why not simply hit him with POI or we are going to close your accounts message. To just close the accounts over something like this seems asinine. 


What's interesting is a common thread I see in this thread as well as the BoA thread, as well as other reports of wholesale account closures from Synchrony, Comenity, etc.; that, in many though not all cases, the CL's involved are often quite big, eye-poppingly so sometimes. It really makes me start to wonder if there's such a thing as a credit line that is too big, and if maybe some people aren't courting trouble by pushing too hard and fast for CLI's and what not.


I agree with that. I don't really pay attention to the Synchrony and Comenity closures though as they've done that for quite some time which is why I'll never give those two my business. I expect more customer service and common sense out of banks like Chase and BOA though. The gentleman in the BOA thread has had a decade plus relationship with BOA so that one really baffles me. 

New Contributor
Posts: 73
Registered: ‎09-10-2016

Re: Chase closing accounts

On a positive note, I received a call from someone reviewing my account and said a decision will be made within two days if it's able to be reinstated. So, maybe the branch manager called after I left or something occurred. I'd be surprised if they change their minds but at least there's a little hope. Felt good to have that Ritz Carlton in my pocket Smiley Wink
Frequent Contributor
Posts: 404
Registered: ‎02-22-2017

Re: Chase closing accounts


KnightOwl101 wrote:
On a positive note, I received a call from someone reviewing my account and said a decision will be made within two days if it's able to be reinstated. So, maybe the branch manager called after I left or something occurred. I'd be surprised if they change their minds but at least there's a little hope. Felt good to have that Ritz Carlton in my pocket Smiley Wink

Did you offer that person your proof of income? Did the person offer up any useful information?

Valued Contributor
Posts: 1,982
Registered: ‎05-05-2010

Re: Chase closing accounts

Did they ask for proof of income? That would be the most common sense thing for them to do and would resolve the issue.

 

 

New Contributor
Posts: 73
Registered: ‎09-10-2016

Re: Chase closing accounts

He only asked my income over my phone. I asked if I could fax over pay stubs or my checking account with my CU and stated that isn't necessary. He seemed nice and said he was going to put a note stating he feels the closure was wrong.
Contributor
Posts: 694
Registered: ‎02-07-2017

Re: Chase closing accounts

Good, so you're making progress. Personally, I'd have repeated my offer to send in documentary proof of income, but at least you got someone to listen to you and agree that Chase made an error.

Rebuilding credit since 2015 (BK filed 8/14, discharged 12/14) - started out in 570's, now approaching 700 (FICO 5/12:TU 640/EX 675/EQ 659 FICO 8 or 690 NG 2, VS 3.0 4/21/17: TU 683/EX 685/EQ 691)! $951 Cap One secured/$3000 Cap One unsecured/$800 Amazon Prime Store Card/$2500 Discover It )/$4000 Overstock Store Card/$10k PenFed used car loan/$5k Navient student loan. Back in the garden until Sept. 2017 unless I get an offer I can't possibly refuse...
Established Contributor
Posts: 521
Registered: ‎02-23-2017
0

Re: Chase closing accounts

This is tax season. It's pretty easy to find out that your income is a little bit different than what you might have estimated even as close a few weeks back.

Frequent Contributor
Posts: 404
Registered: ‎02-22-2017
0

Re: Chase closing accounts


KnightOwl101 wrote:
He only asked my income over my phone. I asked if I could fax over pay stubs or my checking account with my CU and stated that isn't necessary. He seemed nice and said he was going to put a note stating he feels the closure was wrong.

This is good! Keep us updated on the outcome!!

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