topic Re: Completely shut down by Chase in Credit Cards

Completely shut down by Chase

5KRunner — Tue, 21 May 2019 17:51:00 GMT

This past February, I was approved for a Chase Freedom Unlimited, and that was the 6th new account in 24 months. I applied before I was aware of their 5/24 rule, and after learning about it, assumed I was safe from shutdown due to the fact that I was approved after an HP that included evidence of all 5 of those previously opened accounts.

Last week, two offers appeared in my Chase online account - one for Sapphire Preferred and another for Slate. I was approved for both after another HP, and figured that since they were green-star offers, I was safe.

Just a few minutes ago, I checked notifications on my Apple Watch, and one of them informed me that my SP was no longer the default card for Apple Pay.

I called the number on the back of the SP, and the CSR informed me that all 3 cards were being shut down, effective immediately, with no opportunity for recon.

So, it seems that such green-star offers aren’t bulletproof after all. Be wary, friends...

Re: Completely shut down by Chase

Anonymous — Tue, 21 May 2019 17:54:36 GMT

Wow.... 3 months between apps and they shut you down? Wait for the letters to show up and maybe we can find a way to get them back.

Re: Completely shut down by Chase

kdm31091 — Tue, 21 May 2019 17:58:08 GMT

Unfortunately it’s becoming more and more common with Chase. Tread very very lightly with them.

Re: Completely shut down by Chase

5KRunner — Tue, 21 May 2019 18:00:39 GMT

@Anonymous wrote:
Wow.... 3 months between apps and they shut you down? Wait for the letters to show up and maybe we can find a way to get them back.

I’m not sure I want to be involved with such a touchy lender! Unfortunately I was planning to use the CSP SUB to send my wife on a surprise vacation to Florida. Oh well...

Re: Completely shut down by Chase

FinStar — Tue, 21 May 2019 18:02:17 GMT

Sorry to hear about the closures OP. Typically, these AA's are irreversible, unfortunately. Even Reddit reports no luck even escalating to the EO.

Were you able to fulfill the SUB for Freedom Unlimited prior to the closures?

Re: Completely shut down by Chase

5KRunner — Tue, 21 May 2019 18:02:21 GMT

@FinStar wrote:
Sorry to hear about the closures OP. Typically, these AA are irreversible, unfortunately. Even Reddit reports no luck even escalating to the EO.

Were you able to fulfill the SUB for Freedom Unlimited prior to the closures?

Yes, at least I fulfilled that one.

Re: Completely shut down by Chase

Anonymous — Tue, 21 May 2019 18:12:06 GMT

@5KRunner wrote:
This past February, I was approved for a Chase Freedom Unlimited, and that was the 6th new account in 24 months. I applied before I was aware of their 5/24 rule, and after learning about it, assumed I was safe from shutdown due to the fact that I was approved after an HP that included evidence of all 5 of those previously opened accounts.

Last week, two offers appeared in my Chase online account - one for Sapphire Preferred and another for Slate. I was approved for both after another HP, and figured that since they were green-star offers, I was safe.

Just a few minutes ago, I checked notifications on my Apple Watch, and one of them informed me that my SP was no longer the default card for Apple Pay.

I called the number on the back of the SP, and the CSR informed me that all 3 cards were being shut down, effective immediately, with no opportunity for recon.

So, it seems that such green-star offers aren’t bulletproof after all. Be wary, friends...

Sorry this happened to you but it appears you were shut down because you applied for two Chase cards simultaneously; those accounts will almost always be shut down when Chase conducts their post-approval reviews.

I'm puzzled though; on 5/15/19 you said you were 13/24 when you applied; now you're saying you were 6/24?

Re: Completely shut down by Chase

Anonymous — Tue, 21 May 2019 18:17:39 GMT

Yeah just because you have green checkmarks for both, doesn't mean you can/should apply for both. There are several DPs supporting that Chase doesn't like two apps together. You probably dodged a bullet on the 5/24 thing, but definitely pushed them too far with the dual apps.

I barely made it in with their 5/24, with 2 new accounts posting within months of being approved. So I was sweating first 6 months waiting for possible AA/closure. Now that they've billed the first AF, i feel that I'm safe and plan not to do anything to jeopordize that. I had two green checkmarks a few months back even, but felt it was too early to tempt fate. lol

Once I get another year with them under my belt, and under 5/24 again. I'll get that Freedom card.

Re: Completely shut down by Chase

5KRunner — Tue, 21 May 2019 18:23:02 GMT

I was 6/24 when approved for the first, 13 when I was approved for the 2nd and 3rd cards.

Re: Completely shut down by Chase

Anonymous — Tue, 21 May 2019 18:42:01 GMT

Geez Louise. I previously referred to Chase as a jealous mistress. (Mod cut - not here, please)

Re: Completely shut down by Chase

Anonymous — Tue, 21 May 2019 18:33:06 GMT

@5KRunner wrote:
I was 6/24 when approved for the first, 13 when I was approved for the 2nd and 3rd cards.

By any objective measure that is aggressive credit seeking behavior and you probably tripped Chase's bustout trigger.

You may be able to get this decision reversed but you'll need to speak with someone in their Fraud department and not a regular CSR.

Re: Completely shut down by Chase

Anonymous — Tue, 21 May 2019 18:33:51 GMT

Unfortunately it seems like Chase has been getting very fickle especially with apps too close together. Sorry this happened but maybe you can recon at least one of them.

Re: Completely shut down by Chase

Remedios — Tue, 21 May 2019 18:35:26 GMT

@5KRunner I am sorry this happened to you. Thank you for providing really valuable DPs for others

I'm personally tired of typing to thread lightly around Chase apps when it comes to timing if one wants to keep their cards. In most instances, it's not opening accounts with other lenders that leads to Chase AA, but opening too many Chase cards in short period of time.

Cards with green check marks and in branch preapprovals are not "All You Can Apply Buffet", they basically give you options and you pick one of the available options.

Once you do, other preapproved cards will still show in the account till lending and marketing catch up.

Re: Completely shut down by Chase

5KRunner — Tue, 21 May 2019 18:36:26 GMT

It’s true, and I admit that it’s aggressive credit-seeking behavior. It just surprised me that their online system even permitted the two approvals, only to revoke them less than 2 weeks later. Lesson learned (and shared - hopefully someone else avoids the mistake I’ve made as a result of these data points).

Re: Completely shut down by Chase

Remedios — Tue, 21 May 2019 18:36:28 GMT

@5KRunner wrote:
I was 6/24 when approved for the first, 13 when I was approved for the 2nd and 3rd cards.

You added 7 cards in two months, then applied for two Chase cards?

Please tell me I read that wrong

Re: Completely shut down by Chase

5KRunner — Tue, 21 May 2019 18:38:12 GMT

You read it right... I was operating under the mistaken idea that green-checkmark offers were safe from AA, but clearly I was wrong.

Re: Completely shut down by Chase

Anonymous — Tue, 21 May 2019 18:39:13 GMT

Ouch...I skipped over this part earlier but now I'm more understanding of Chase's position

Re: Completely shut down by Chase

5KRunner — Tue, 21 May 2019 18:40:20 GMT

@Remedios wrote:

Cards with green check marks and in branch preapprovals are not "All You Can Apply Buffet", they basically give you options and you pick one of the available options.

Once you do, other preapproved cards will still show in the account till lending and marketing catch up.

Good information that I had clearly missed in the lead up to my apps. Thanks for adding it.

Re: Completely shut down by Chase

Remedios — Tue, 21 May 2019 18:40:38 GMT

@Anonymous wrote:
Unfortunately it seems like Chase has been getting very fickle especially with apps too close together. Sorry this happened but maybe you can recon at least one of them.

No, they wont be able to and when one attempts to add 9 cards in 7 weeks, this is almost guaranteed.

Not to derail this thread, but you also just got approved by another "fickle" issuer and asked if you should apply for more cards. Read this thread and then decide on what you feel is a right thing to do.

Re: Completely shut down by Chase

Anonymous — Tue, 21 May 2019 18:45:30 GMT

@5KRunner wrote:
You read it right... I was operating under the mistaken idea that green-checkmark offers were safe from AA, but clearly I was wrong.

Green checkmark offers are denied many times for exceeding 5/24, and certainly two apps at a time will get you shut down. As far as I know the only Chase offers that are nearly "bullet proof" are the in-branch pre-approvals. Those are the only ones I pursue and even then I space my applications by a minimum of 6 months.

Do you have a depository relationship with Chase or is it just credit products?