topic Re: Chase closed out all of my cards with them..LOL!! in Credit Cards

NEW AND FINAL UPDATE** Chase closed out all of my cards with them..LOL!!

Ysettle4 — Wed, 01 Apr 2015 00:26:43 GMT

Logged into chase.com and under all accounts state:

Your account is closed and no longer available for use. If you have a balance remaining on the account, please continue to make monthly payments by the due date.

Called in to speak with the risk dept and their reasoning: "Too many opened accounts within the last 12 months - not with just Chase but all of my current creditors. The decision was made to close all of my Chase accounts after the review of my EQ or EX reports."

Already called the EO and had them inquire. Should give me a call back sometime this week to see if they can have them reopened.

Aside from this, how will this impact me? I'm sure with the accounts closed and if they remain that way, they will all say "closed by cerditor" - How bad will that look? score impact?

I'm not worried about util because I'm carrying small balances with them and will pay off by the time they report again which would bring me down to about 4% util total.

Here's the UPDATE:

..."after further review..blah blah blah...we will not be able to re open your accounts....blah blah blah.."

Siggy updated LOL!!!!

Final Update:

Called back in knowing my credit profile has changed significantly for the better and in hopes to get everything reinstated. Umm yeah, They are going to remain closed. Reps states.."Well, since this was being handled through the EO and the after the initial review to reinstate was denied, we are going to stick with that decision...."

HUH??

Then why did the EO call me back and basically stated that if I did A,B & C that the accounts could be opened?..Their response," Well, we're not sure who spoke to you and gave that information but I can tell you that we have no intentions on re-opening your accounts, etc ,etc ,etc.."

Wow! Just, wow!

/thread

UPDATE:

Tried one last time to get the accounts re-opened. Got denied again and this time the account are being reomved from their "active" state. Meaning, there are no further opportinuties to re-open and would have to apply for new accounts.

Re: Chase closed out all of my cards with them..LOL!!

mongstradamus — Wed, 21 Jan 2015 19:15:56 GMT

@Ysettle4 wrote:
Logged into chase.com and under all accounts state:

Your account is closed and no longer available for use. If you have a balance remaining on the account, please continue to make monthly payments by the due date.

Called in to speak with the risk dept and their reasoning: "Too many opened accounts within the last 12 months - not with just Chase but all of my current creditors. The decision was made to close all of my Chase accounts after the review of my EQ or EX reports."

Already called the EO and had them inquire. Should give me a call back sometime this week to see if they can have them reopened.

Aside from this, how will this impact me? I'm sure with the accounts closed and if they remain that way, they will all say "closed by cerditor" - How bad will that look? score impact?

I'm not worried about util because I'm carrying small balances with them and will pay off by the time they report again which would bring me down to about 4% util total.

If they close out all your account do you lose all your UR points and ritz carlton points i probably be pretty annoyed about that.

Re: Chase closed out all of my cards with them..LOL!!

chalupaman — Wed, 21 Jan 2015 19:20:28 GMT

Oh no! I'm so sorry this happened to you. I just recently went through it myself with Citi. Chase's cards by far are way better though so I think it'd be worth a try to get those reopened.

Definitely call the EO and see what they can do though. Do you think there were any triggers that might have caused this to happen? I still suspect with mine it was trying to get two store cards with them in the same month and my Amex inquiry that set everything off there or they were scared by the Lowes card that started reporting. In any case, it's good to have a diversity of lenders to have cards with in case something like that happens.

Re: Chase closed out all of my cards with them..LOL!!

BluePoodle — Wed, 21 Jan 2015 19:21:25 GMT

So sorry to hear! How many new accounts did you open in the last 12 months?

I hope you have success on getting them reopened. Keep us posted on your results.

Re: Chase closed out all of my cards with them..LOL!!

Ysettle4 — Wed, 21 Jan 2015 19:21:45 GMT

@chalupaman wrote:
Oh no! I'm so sorry this happened to you. I just recently went through it myself with Citi. Chase's cards by far are way better though so I think it'd be worth a try to get those reopened.

Definitely call the EO and see what they can do though. Do you think there were any triggers that might have caused this to happen? I still suspect with mine it was trying to get two store cards with them in the same month and my Amex inquiry that set everything off there.

Oh, how was the outcome with Citi? I'm hoping they reopen my account to be honest because they have some of the best rewards/cash back..especially the UR program.

Re: Chase closed out all of my cards with them..LOL!!

Ysettle4 — Wed, 21 Jan 2015 19:22:52 GMT

@mongstradamus wrote:
@Ysettle4 wrote:
Logged into chase.com and under all accounts state:

Your account is closed and no longer available for use. If you have a balance remaining on the account, please continue to make monthly payments by the due date.

Called in to speak with the risk dept and their reasoning: "Too many opened accounts within the last 12 months - not with just Chase but all of my current creditors. The decision was made to close all of my Chase accounts after the review of my EQ or EX reports."

Already called the EO and had them inquire. Should give me a call back sometime this week to see if they can have them reopened.

Aside from this, how will this impact me? I'm sure with the accounts closed and if they remain that way, they will all say "closed by cerditor" - How bad will that look? score impact?

I'm not worried about util because I'm carrying small balances with them and will pay off by the time they report again which would bring me down to about 4% util total.
If they close out all your account do you lose all your UR points and ritz carlton points i probably be pretty annoyed about that.

I've already redeemed the UR points - yesterday! Good timing, huh. The Ritz card is not even my possession yet so no loss there I suppose.

Re: Chase closed out all of my cards with them..LOL!!

chalupaman — Wed, 21 Jan 2015 19:23:30 GMT

@Ysettle4 wrote:
@chalupaman wrote:
Oh no! I'm so sorry this happened to you. I just recently went through it myself with Citi. Chase's cards by far are way better though so I think it'd be worth a try to get those reopened.

Definitely call the EO and see what they can do though. Do you think there were any triggers that might have caused this to happen? I still suspect with mine it was trying to get two store cards with them in the same month and my Amex inquiry that set everything off there.
Oh, how was the outcome with Citi? I'm hoping they reopen my account to be honest because they have some of the best rewards/cash back..especially the UR program.

Citi said that I'd be welcome to open another account with them but they can't look into reopening any existing accounts I had with them because I'm not 21 yet and they strictly follow the CARD act too. I'm sure your situation would be different though.

Re: Chase closed out all of my cards with them..LOL!!

Ysettle4 — Wed, 21 Jan 2015 19:24:15 GMT

@BluePoodle wrote:
How many new accounts did you open in the last 12 months?

9 during the course of 2014, 1 this year - the ritz card.

Re: Chase closed out all of my cards with them..LOL!!

Anonymous — Wed, 21 Jan 2015 19:27:54 GMT

Are those your current Fico scores in your sig?

Re: Chase closed out all of my cards with them..LOL!!

BluePoodle — Wed, 21 Jan 2015 19:28:26 GMT

@Ysettle4 wrote:
@BluePoodle wrote:
How many new accounts did you open in the last 12 months?

9 during the course of 2014, 1 this year - the ritz card.

Kind of makes you wonder how many are too many. I opened 6 new ones last year. None so far this year and based on hearing about recent accounts being closed, I am pretty sure I don't want to for a while.

Re: Chase closed out all of my cards with them..LOL!!

Anonymous — Wed, 21 Jan 2015 19:28:36 GMT

@Ysettle4 wrote:
@BluePoodle wrote:
How many new accounts did you open in the last 12 months?

9 during the course of 2014, 1 this year - the ritz card.

That's scary. Were you keeping high balances on the chase or other cards? This stuff worries me

Re: Chase closed out all of my cards with them..LOL!!

Creditcurious74 — Wed, 21 Jan 2015 19:29:44 GMT

I'd be very upset but I really hope Chase would reopen your accounts. Please keep is posted as this would help someone who is going through same situation.

Re: Chase closed out all of my cards with them..LOL!!

BluePoodle — Wed, 21 Jan 2015 19:31:01 GMT

@Zelaya wrote:
I'd be very upset but I really hope Chase would reopen your accounts. Please keep is posted as this would help someone who is going through same situation.

Or better yet to avoid this situation all together!

Re: Chase closed out all of my cards with them..LOL!!

mongstradamus — Wed, 21 Jan 2015 19:34:28 GMT

@BluePoodle wrote:
@Zelaya wrote:
I'd be very upset but I really hope Chase would reopen your accounts. Please keep is posted as this would help someone who is going through same situation.
Or better yet to avoid this situation all together!

This is one thing i hate about CCC you don't know what limits they have placed on you before they will just close everything. I opened 5 cards last year, 4 within last 3 months i hope i won't get my accounts closed as well.

Re: Chase closed out all of my cards with them..LOL!!

Anonymous — Wed, 21 Jan 2015 19:35:29 GMT

that sucks!

thats why its good to have different lenders

Re: Chase closed out all of my cards with them..LOL!!

chalupaman — Wed, 21 Jan 2015 19:35:52 GMT

@mongstradamus wrote:
@BluePoodle wrote:
@Zelaya wrote:
I'd be very upset but I really hope Chase would reopen your accounts. Please keep is posted as this would help someone who is going through same situation.
Or better yet to avoid this situation all together!
This is one thing i hate about CCC you don't know what limits they have placed on you before they will just close everything. I opened 5 cards last year, 4 within last 3 months i hope i won't get my accounts closed as well.

I completely agree with you. With Citi, I really did not think they'd care about me having two store cards with them as well as the one I already had for over a year. I'm never understimating store cards like that again.

Re: Chase closed out all of my cards with them..LOL!!

Membersince2013 — Wed, 21 Jan 2015 19:42:07 GMT

OP, do you have a Checking account with Chase?

Re: Chase closed out all of my cards with them..LOL!!

B335is — Wed, 21 Jan 2015 19:47:23 GMT

How many Chase cards did you have? Also curious if any banking relationships. What is your aaoa?

Re: Chase closed out all of my cards with them..LOL!!

lord_kinbote — Wed, 21 Jan 2015 19:55:38 GMT

OP, can you please share some specifics in regards to balances on your Chase accounts? I see you opened three Chase accounts in 2014 and one in 2015. This is pretty much identical to my relationship with Chase. I opened the Freedom, CSP and Amazon.com in 2014. I was just approved for the Chase Marriott yesterday, so this news is a bit spooky. I opened a total of 11 accounts in 2014 and as I stated, 1 in 2015. My scores are EX: 730 EQ: 738 and TU: 763. I only let 1 card report a balance of 8% and it just happens to be the Chase CSP.

I find it perplexng that they would approve you for an additional Chase account in 2015 and then turn around and close out all your Chase accounts. I do not mean to sound accusatory, but was there any manufactured spending in order to meet spend requirements? Last few times I have seen posting like this, it seems the poster hides critical details and once known, gives warrant to Chase AA - again, not saying this is the case here, especially since they specifically told you it was due to too many new accounts in the past 12 months.

Re: Chase closed out all of my cards with them..LOL!!

BluePoodle — Wed, 21 Jan 2015 19:56:32 GMT

@chalupaman wrote:
@mongstradamus wrote:
@BluePoodle wrote:
@Zelaya wrote:
I'd be very upset but I really hope Chase would reopen your accounts. Please keep is posted as this would help someone who is going through same situation.
Or better yet to avoid this situation all together!
This is one thing i hate about CCC you don't know what limits they have placed on you before they will just close everything. I opened 5 cards last year, 4 within last 3 months i hope i won't get my accounts closed as well.
I completely agree with you. With Citi, I really did not think they'd care about me having two store cards with them as well as the one I already had for over a year. I'm never understimating store cards like that again.

Yep! My Discover just hit a year old this Jan and my Amex, Barclay and Target will hit one year in May. So I think I am holding off until then. I would really like to get in with Citi and BofA but I want to wait a while!

Keep us posted OP!