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Super Contributor
Posts: 7,132
Registered: ‎02-27-2013
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Re: Quicksilver Visa Signature Denial - Any Chances for Reconsideration?


knhorn wrote:

Thanks for the information on Chase. I don't believe I agree in this particular scenario. I used to have my checking account with Chase from 2011 to 2012, and have already had a Freedom /w 5k limit from 6/2012 until 10/2012. Chase closed my checking account first,  and then Freedom on 10/2012. They banned me from doing business with them, and now over a year later I was hoping I had fell off the blacklist. Boy was I wrong, haha. I went to great lengths to find out what I had did that they couldn't disclose to me, and got to a manager just below executive. Still no answer, they reserve the right to do whatever they want at any time without any rhyme or reason. The only thing I can think of was that I was ordering boxes of coins frequently with a personal account, which costs them money.


if they closed your checking account as well and you were never deliquent, it is most likely due to fraud or money laundering reasons. Whatever you were doing did not sit well with Chase, and most likely will land you in same scenario if you tried to do the same thing with other banks as well.

 

Most of the time banks do not provide any sort of reason when accounts are closed due to these reasons, and customers are usually blacklisted as well. 

 

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Registered: ‎10-21-2012
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Re: Quicksilver Visa Signature Denial - Any Chances for Reconsideration?

[ Edited ]

jefftca925 wrote:

knhorn wrote:

Thanks for the information on Chase. I don't believe I agree in this particular scenario. I used to have my checking account with Chase from 2011 to 2012, and have already had a Freedom /w 5k limit from 6/2012 until 10/2012. Chase closed my checking account first,  and then Freedom on 10/2012. They banned me from doing business with them, and now over a year later I was hoping I had fell off the blacklist. Boy was I wrong, haha. I went to great lengths to find out what I had did that they couldn't disclose to me, and got to a manager just below executive. Still no answer, they reserve the right to do whatever they want at any time without any rhyme or reason. The only thing I can think of was that I was ordering boxes of coins frequently with a personal account, which costs them money.


Using their accounts for that kind of activity is HIGHLY frowned upon by Chase (and a few other banks) and they will shut you down FOREVER if you do it.  Lesson learned!  I would recommend before engaging in stuff like that you do your research first and make sure that a bank won't put an AA on you.


+1

 

I don't blame Chase's for the account closure.  They are/were within their rights to do so from an AA perspective.  Other lenders also have these conditions spelled out in their T&C.

Member
Posts: 79
Registered: ‎09-09-2014
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Re: Quicksilver Visa Signature Denial - Any Chances for Reconsideration?

I know this is an old thread but was skimming through to get some knowledge on your situation. Just curious as to what kind of coins you were ordering from Chase for them to close your account? I'm with them now and would be interested in hearing more details on this. Could anyone else ansdwer? Why do people order boxes of coins from banks? Hoping to strike silver/gold? Heh Thanks.

Member
Posts: 79
Registered: ‎09-09-2014
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Re: Quicksilver Visa Signature Denial - Any Chances for Reconsideration?

Nevermind.. I see what you were doing. I'd ban you also for doing what you did and you deserve it. Seems like you are just trying to scrape every penny (no pun intended) possible. I'm building my credit and know better than to do what you did. I know this is old but just wanted to put my 2 cents.

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Posts: 352
Registered: ‎09-13-2014
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Re: Quicksilver Visa Signature Denial - Any Chances for Reconsideration?

What was going on with the boxes of coins?

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Registered: ‎06-07-2013
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Re: Quicksilver Visa Signature Denial - Any Chances for Reconsideration?

[ Edited ]

TARHEEL81NC wrote:

What was going on with the boxes of coins?


MY GUESS (though I'm not savvy on this at all):  OP was needing money, so ordered coins for cash purposes with CC, pay CC off more slowly (hence the app spree for upcoming expenses).  Kinda like one's own little ponzi scheme, except against your banks, lenders.  However, someone may correct me if wrong.

Starting score SW - 565, current EQ 736 FICO (Jan 2015) EX FICO 733 (Jan 2015), TU FICO 746 (Jan 2015)
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Last app 1/9/2015, Gardening until Sept/Oct 2015, Goal Score 760 Simulator 24 months 806

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Re: Quicksilver Visa Signature Denial - Any Chances for Reconsideration?


Imperfectfuture wrote:

TARHEEL81NC wrote:

What was going on with the boxes of coins?


MY GUESS (though I'm not savvy on this at all):  OP was needing money, so ordered coins for cash purposes with CC, pay CC off more slowly (hence the app spree for upcoming expenses).  Kinda like one's own little ponzi scheme, except against your banks, lenders.  However, someone may correct me if wrong.


That is what I am thinking as well. 

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