topic Re: Closed Account - Chase and BofA in Credit Cards

Closed Account - Chase and BofA

Anonymous — Wed, 31 Oct 2018 06:24:37 GMT

Had Chase 2012- 2016 closed after applying for sapphire and adding auth users - which were my relatives. they closed all my old account and new accounts, even my wife's credit card with chase was also affected. So we are banned for sure.

Opened bofa and also got accounts closed on the first month because i put the wrong SS for a couple of the auth users cause i did not pay attention.

I am frsutrated and i know it is my fault for messing up and i know they have every right to deny me. Although bofa said i can always apply, and when I did that time i got letter stating that "unsatisfactory relationship with the bank" or something. Never been late in payments and always paid in full.

Is there a way to ever clear your name after 7 years or something? or am i forever just banned?

Re: Closed Account - Chase and BofA

Sadie5150 — Wed, 31 Oct 2018 08:22:50 GMT

I can understand why your second bank closed your account for having auth users SS wrong, I'm confused as to why your other bank, who you had history with, would close ALL of your accounts after adding authorized users.

Re: Closed Account - Chase and BofA

seattlecredit08 — Wed, 31 Oct 2018 08:54:41 GMT

@Sadie5150 wrote:
I can understand why your second bank closed your account for having auth users SS wrong, I'm confused as to why your other bank, who you had history with, would close ALL of your accounts after adding authorized users.

A related question on this-- let's say the primary credit card holder has a great credit profile. They add their relative as an AU, and this relative has a negative credit profile.

Is there a chance that the action of adding someone as AU may affect the account status of the primary credit card holder, e.g. result in the account closure or a credit limit reduction?

Or not really?

Thanks!!

Re: Closed Account - Chase and BofA

CreditInspired — Wed, 31 Oct 2018 09:02:13 GMT

Welcome OP

It sounds like something else is going on.

1. Did you and your wife carry high UTs?

2. Were the Chase cards being used for business expenses?

3. Did Chase believe MF spending was going on?

4. Did your scores have a huge drop?

5. In the first month, were AUs putting big spends on the cards?

Re: Closed Account - Chase and BofA

AverageJoesCredit — Wed, 31 Oct 2018 12:15:54 GMT

2 banks with very long memories. Sorry

Re: Closed Account - Chase and BofA

Anonymous — Wed, 31 Oct 2018 12:36:17 GMT

There have been reports of chase shutdowns due to delinquencies in certain accounts. Boa doing so is another DP that I haven't heard of.

Re: Closed Account - Chase and BofA

xaximus — Wed, 31 Oct 2018 14:00:50 GMT

The issue with the wrong SS is understandable - we all have fat finger syndrome at times. As far as Chase goes - from what I've learned about Chase - they like stability, they like consistency and they are stingy. With adding AU's - could be a number of reasons why they might have closed - income, CLs, etc. Both banks of long memories so it might be tough. I would reach out to the EO and see what they respond with.

Re: Closed Account - Chase and BofA

FinStar — Wed, 31 Oct 2018 17:30:16 GMT

OP, what were the reasons cited for the closure(s) of your Chase accounts?

The BoA instance, as mentioned by others, is understandable. But, it could have been prevented.

Re: Closed Account - Chase and BofA

Anonymous — Wed, 31 Oct 2018 17:48:17 GMT

I understand the B of A thing - wrong SSNs is a major red flag -and you mentioned multiple AU's ? How many ?

But the Chase closure makes no sense - especially if the account was opened in 2012. There must be something more to this story...

Re: Closed Account - Chase and BofA

CreditInspired — Thu, 01 Nov 2018 10:24:49 GMT

OP

We would love to know the DPs or outcome.

Re: Closed Account - Chase and BofA

Anonymous — Thu, 01 Nov 2018 10:43:03 GMT

I think they didn’t like I had authorize user that were verifiable. I was ignorant before cause they weren’t requiring SS before and I added my family cause I help a lot and pay for things while I’m sick so I can do all the work... it’s due to authorize users and SS.. I messed up imputing the ones for BofA but the one from Chase they just probably saw I had lot of cards aleaash and then it triggered when they saw I added so much as well..

How will I ever clear my name from these 2 banks? It’s pretty sad

Re: Closed Account - Chase and BofA

CreditInspired — Thu, 01 Nov 2018 11:37:45 GMT

Are you comfortable with telling us

1. how many AUs on each card and
2. the CL and UT of each card

I think knowing these data points will help others know what to avoid doing

Thanks

Re: Closed Account - Chase and BofA

Anonymous — Thu, 01 Nov 2018 19:54:12 GMT

My cards with case

Chase explorer 20k since 2012
Chase explorer 10k since 2012
Chase southwest 5k since 2014

My husband had

Explorer 3k
Freedom 3k

We’re botn AU for each of our accounts. I paid in full always monthly.

Bofa

Alaska 7k

Husband opened
Cash and premium last dec and got closed after a few weeks and it affected my Alaska account that been ongoing for 2 years.

Re: Closed Account - Chase and BofA

JR_TX — Thu, 01 Nov 2018 21:47:17 GMT

OP Sorry to hear about your acct closures with Chase and BoA.
I don’t think it’s about the multiple AUs and erroneous SSN input that caused the shutdowns. Looking at your tag/s which only has 1 says “app spree”... Did you have multiple apps in the last 6 months? How many opened accts last 6 monts? Also have you checked your 3 CRs lately? 2 banks doing AA successively means there’s something in your report that spooked them. Inquiries, Recently opened accts, high utilization and even zombie derogs can scare lenders away!
Your new apps got them to scrutinize your current CRs, hence the AA.
Again sorry to hear. Let us know the actual reason when you receive the letters so we can put all “speculations” to rest and come up with a more accurate suggestion as to your course of action.

Re: Closed Account - Chase and BofA

Anonymous — Thu, 01 Nov 2018 22:54:48 GMT

First of all I appreciate you all not judging me for going through this. I was skeptical cause I feel many will judge my situation.

I have been very compliant but I’m sure banks think I’m not to be trusted

Chase has been close in 2016...
my Alaska was back in early 2016...

Bofa closed it when my wife opened an account late December and added me as an AU.. I don’t know really how they can be connected

I do see al my 3 CR and I see many closed accounts from all the years I have opened and closed ... and inquiries that have not gone away...

What should I do at this point?

So is it bad theh see a a lot of banks closed by me since 2004?

The inquiries have dropped off last year and I’m only left with 3 inquiries

I wish there was a way I can understand my CR better

Sorry to bother y’all

Re: Closed Account - Chase and BofA

AverageJoe1970 — Sat, 03 Nov 2018 14:05:46 GMT

Sorta don't think you get a credit card and add a bunch of "relatives". Makes sense that it would raise a red flag. Chase doesn't require SSN for additional users, so there's got to be more to this "story".