DO NOT apply for Anything with CHASE

[Anonymous]

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@Anonymous wrote:

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@longtimelurker wrote:

Yes, really makes very little sense.   You don't have "too much available credit " compared to many here, and the Chase lines being closed are also small, so it's not as it they were terribly exposed even if you defaulted on them all.   And you haven't been credit seeking much either, so the normal red flags are missing.

So, I'm with you, no point in working more with Chase if NCFU or somewhere else can provide all the services you need.   I would however still check your CRs over the next few days to make sure nothing wrong is reporting.  

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Yeah will do - I am curious about this "letter" coming in the mail and the fact the banker is anxious to see it and seems to think he can do something with it so I will report back if it says something different then told today.  

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Thank you for sharing although it is a very private and sensitive matter.  If all else fails, get in touc with EO and see if they can help.

[Anonymous]

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@skigirl916 wrote:

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@Anonymous wrote:

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@Focused10 wrote:

I'm curious why you're doing all of this speculation instead of being a reasonable person and calling/meeting with someone to find out what happened? You're feeding your emotions instead of your rationale. Sounds like you don't want to know so you can continue being upset. Stop playing the victim and allow Chase to share with you their findings! Good grief!

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Gosh you people are vitriolic!  I will definitely be more cautious with posting here and go back to reading ...

"playing a victim" - REALLY???  I found this out at 10:00 PM last night (when I logged in to pay the darn bill!) and when I called they said I had to speak to someone in lending this morning at 8:00 so I DID ON MY WAY TO A BRANCH.

"feeding my emotions instead of your rationale" ..... 

THE FIRST MOMENT I COULD PHYSICALLY BE ON THE PHONE WITH THEM I WAS - GEEZ PEOPLE - GUESS I AM THE BIG IDIOT FOR THINKING THIS WAS A SUPPORT COMMUNITY.  

NOTED.

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Jeez.  Talk about an overreaction. 

I love Chase.  And I'd understand if ANY bank or CU wouldn't want to extend me more credit, because I have plenty. 

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I'm Sorry - you would understand if you randomly logged in to pay your bill to discover you account closed????

I didn't ask for additional credit and nothing has changed so quite literally they have randomly just closed down my credit lines with them.  I too loved Chase until last night when - without notice, they closed my credit acccounts for not a lot of reason and no real risk involved - none that could even be clarified by their own employees.

Some people operate more on principals then others and I happen to be one of those people.  Sorry if you don't subscribe to that rule of thinking and sorry if you think I am overreacting when people say I am "playing a victim" - I take that extremely offensively and responded accordingly.  To each their own.

[Anonymous]

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@Involver wrote:

If that was the best explanation that Chase could provide you, I think you're completely justified in moving all of your accounts to another bank.

I wouldn't even wait around the 30-45 days for them to "revisit" the decision.

If even their PC bankers are frustrated with it, you know it's a pretty significant problem.

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Thank you! and yes Agreed - already transferred personal funds over to NFCU.  

Even if they "revisit" and "reopen" .... pretty sure that trust and most importantly respect has been lost.  So sad because Chase was the Fav for so long which was probably why it hit me in the gut so hard!  

[Anonymous]

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@CreditCuriousity wrote:

OP your reaction is justified if that is all they can tell you.. Especially if you run multiple business that pull in that kinda cash..  80k or whatever in available credit isn't to much, especially for you.. Many people on this board make maybe 40k-50k and have well over 100k of available credit, none the less alot of them have it with Chase...

I personally would tell Chase to go and eat drit and move my business elsewhere as others have mentioned.

I wish you the best and understand that you are upset, try not to let your emotions get the best of you.  Plenty of banks or CU's would love to have your business and extend you credit with the new void that you have a probably plenty more beyond what you had with chase.

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THANK YOU!

[Anonymous]

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@CreditCuriousity wrote:

Better yet, send the EO office the link to this MyFico thread via email..  They would love that .  Nothing embarses big companies worse then bad PR IMO.

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GREAT idea!!

[Imhotrodcrazy]

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Some people operate more on principals then others and I happen to be one of those people

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AMEN OP.   I am with you on this.  I have banked with my US Bank office since 1992 and have run into problems this year  which they will not fix so I too am moving on.  Like you,  I am moving my funds elsewhere.  It is not worth the aggravation.  I commend you for taking a stand and doing what is good for you if that is how you feel.  March to the beat of your own drum.  Good luck to you. 

[Anonymous]

Gray,  I feel for you and do agree it appears to be wrong what they did.    Hopefully it is just a mistake on Chase's end and everything will be corrected and then some with a year or so of interest free credit on the cards.

I can relate to what you are saying because Barclays did the same thing to me with one card,   the Apple Visa.   I was beyond pissed off when I found out.    I then realized that this was my own fault with many new credit cards I received since Barlcays approved me.    It still did not ease the anger of the closed card however.   I paid them off the night I found out because I was feeling that they do not deserve to make any more money off me.    Also when Barclays closed my account,  I had 2 diners cards not showing on my reports.

Fast forward to today,   those diners cards are still not reporting and I have a new NFCU credit card and 15K LOC.    The credit card from NFCU just showed up on my reports the other day where the LOC has not.    On top of this, I was  approved for the Chase Ritz Carlton card the same night I noticed NFCU (December 17th)  reported my credit card from them.   I also have received 2 CLI's on Syncrony backed cards.      I am worried some with what you have said about Chase closing your accounts now because of the new credit I have been approved for that Chase did not know about.    What spooks me more is the Ritz card has a $395 annual fee.   Because of the new credit,  will chase take my annual fee I will pay when its due then close that account?  Anyway, I intend fully to sit in the garden for the next year at least.   

Gray,  good luck in dealing with Chase.   I really hope and pray they come through for you and reopen your accounts.    If they don't,  I would agree with you and get out of town with them and move your funds to another financial institution that respects you and your business.

Sorry for the long post.   I was not trying to hijack your posts.

[IWOL]

Just finished reading through this thread and its hard to makes sense of what took place in OPs situation but this is certainly not typical for Chase and or any bank for that matter.

There had to have been something that was flagged by Chase' algorithem or manually that caused them to close the accounts. It may very well be an overeaction by their system or a person but its not random.

Lots of businesses do large volumes with very high revenue and dont make any money or even lose money, so moving lots of money through the accounts means nothing if the business is constantly using more of the available credit and paying down at a slower pace etc.

Im not saying that this the case here since we dont know those details but that is the problem.

OP...I totally understand your frustration, but what you perceive as "normal" spending, payments made, utilization etc may be very different from what Chase sees.

Without knowing detail of those things its impossible for anyone to determine the justification for Chase in closing the accounts.

[Ghoshida]

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@Anonymous wrote:

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@skigirl916 wrote:

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@Anonymous wrote:

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@Focused10 wrote:

I'm curious why you're doing all of this speculation instead of being a reasonable person and calling/meeting with someone to find out what happened? You're feeding your emotions instead of your rationale. Sounds like you don't want to know so you can continue being upset. Stop playing the victim and allow Chase to share with you their findings! Good grief!

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Gosh you people are vitriolic!  I will definitely be more cautious with posting here and go back to reading ...

"playing a victim" - REALLY???  I found this out at 10:00 PM last night (when I logged in to pay the darn bill!) and when I called they said I had to speak to someone in lending this morning at 8:00 so I DID ON MY WAY TO A BRANCH.

"feeding my emotions instead of your rationale" ..... 

THE FIRST MOMENT I COULD PHYSICALLY BE ON THE PHONE WITH THEM I WAS - GEEZ PEOPLE - GUESS I AM THE BIG IDIOT FOR THINKING THIS WAS A SUPPORT COMMUNITY.  

NOTED.

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Jeez.  Talk about an overreaction. 

I love Chase.  And I'd understand if ANY bank or CU wouldn't want to extend me more credit, because I have plenty. 

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I'm Sorry - you would understand if you randomly logged in to pay your bill to discover you account closed????

I didn't ask for additional credit and nothing has changed so quite literally they have randomly just closed down my credit lines with them.  I too loved Chase until last night when - without notice, they closed my credit acccounts for not a lot of reason and no real risk involved - none that could even be clarified by their own employees.

Some people operate more on principals then others and I happen to be one of those people.  Sorry if you don't subscribe to that rule of thinking and sorry if you think I am overreacting when people say I am "playing a victim" - I take that extremely offensively and responded accordingly.  To each their own.

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Valid point.

I could understand if Chase sent a communication asking for financial documents, for a review (similar to AMEX). In this case, OP wasn't asking for new credit or CLI from Chase, and it's not the case that OP was opening new accounts left, right, and center. 

Also, over the past couple of weeks, many members of this community are responding to a poster's problem by first saying, "You must have done something wrong. Are you sure you haven't dome something wrong? You must have because the big banks are wonderful."

This behavior is neither friendly, nor supportive, and not at all respectful. Yes, many members here did simply ask OP to not make a rash decision and wait until a banker or lending CSR could clarify things. However, given how banks communicate such things, I wasn't really hopeful about getting a clear message. As others have mentioned, often the banks simply say "security", "credit issues", etc. However, some of the other members simply seem to push OP (and some other previous posters) to a corner, citing their love for whichever lender is in question. 

Please remember that banks do, have done, and will be doing mistakes. Countless articles about wrongful foreclosures can be found online; so yes, they have a proven history of pushing customers out when the customers were not at all at fault. 

This is not a banking community. The FSR policy here applies to members, who are customers of banks. So yes, your particular bank may be wonderful to you, but it is very much possible that it has wronged another member. Instead of pointing fingers at the member, it will be more helpful to offer neutral advice; even if it means taking away business from your favorite bank.

[Anonymous]

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@Imhotrodcrazy wrote:

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Some people operate more on principals then others and I happen to be one of those people

_________________________________________________________________________________________________________________________________.

AMEN OP.   I am with you on this.  I have banked with my US Bank office since 1992 and have run into problems this year  which they will not fix so I too am moving on.  Like you,  I am moving my funds elsewhere.  It is not worth the aggravation.  I commend you for taking a stand and doing what is good for you if that is how you feel.  March to the beat of your own drum.  Good luck to you. 

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I commend you as well!!!  

These big banks have gotten long in the tooth I think and have forgotten the value of some of us little guys and like I said - I am by far not the biggest and by far not smallest, but EVERY customer is important!!!  EVERY customer contributes to a paycheck and the minute people forget that, I feel like it is a problem and being someone that is in customer service, I for one could not afford to treat my customers the way Chase just treated me - I am pretty certain I would go belly up.  

I don't have "Millions" to park at a bank but I have had over $100K parked at Chase and I do deposit a minimum of $7500 into my personal account for just household expenses EVERY single month - which is the account that Chase Slate card is tied to so REALLY for that card to raise a question was ludicrous, I have more sitting in their bank right this second, even after moving personal funds, then I did open credit ..... so I am quite perplexed.  And the business accounts do a great deal of really steady business so I don't know.

I am trying to get over being in a funk about it and hoping this will start some amazing new something I never dreamed of with someone else like NFCU and open doors that I never knew about ..... like someone said - everything happens for a reason ....