@akula wrote:
@CreditCuriousity wrote:So do we have any general concensus what caused Chase to do this as obviously it wasn't random.. Was it the 6 chase cards in one year? I am thinking that is the case.. Once the Ritz hit, raised a red flag and AA happened, pushed over a certain threshold.. Other lenders are just the icing on the cake type of thing they added to there list. Thoughts?
I think there were multiple variables. I understand that baddies existed at app time and maybe the 6 accounts brought the flag up. However, I believe once manually reviewed and they noticed the late mortgage payments, this is what ended the relationship. I am thinking if the baddies were not present, this would have went down differently.
Another variable potentially was the 6k outstanding. I understand that in regards to his overall credit limits, this was just a drop in the bucket - but baddies, 6k debt, multiple new accounts, and finally the transfer of UR points just did not make Chase a happy camper. All conjecture on my part, of course.
I agree with most of this, although I am skeptical that the transfer of UR points played a role. I guess they could flag it as an indicator of someone's intent to run out without paying the balances on the cards in light of the other factors, but I think the other factors alone is what triggered this. I understand where Chase is coming from in this situation as they don't know OP and they are making a preemptive strike to limit their exposure. I would not say I agree with them, but I understand. 6 cards in one year is a lot with one lender and I have a feeling OP was on thin ice and the Ritz app was just too much for Chase to bear. I believe the ritz app flagged OPs account and on manual review the determination was made to overturn what had been prior approvals by the computer system. Given their unwillingness to reconsider the decision it seems like they have some set guidelines as to what is a mandatory closure. I strongly believe its always better to build up a credit profile slowly. I know others disagree, but I think this serves as a lesson that if you go hard with a lender or with seeking credit in general in a really aggressive way you are going to get looked at closely and risk this type of thing if a lender does not like what they see.
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Chase is trash.
Just a plug for Chase here. I opened a Freedom card a few years ago and I think my initial APR was something like 15.99%. I just noticed they had dropped it to 12.99%. I don't recall getting any notice - it just happened.
@Anonymous wrote:
@knhorn wrote:Chase is trash. If you bank with Chase, you're banking with the Morgans, Rockefellers, shareholders of the private Federal Reserve, and other globalist stranglehold tyrant scum.
This adds nothing to the conversation.
+1 It is best to get back on topic as this does nothing to further the conversation