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Super Contributor
enharu
Posts: 6,889
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. 

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Valued Contributor
FinStar
Posts: 5,156
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.


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