topic Re: Chase shutdown questions in Credit Cards

Chase shutdown questions

ToxikPH — Sat, 08 Jun 2019 01:03:31 GMT

I know that it's possible to get a Chase card above 5/24 if you are pre-approved in a branch. What would cause a shutdown if you were above but still approved? I know that a lot of people report shutdowns with too many accounts around applying for Chase. Should I go after the CSP or the Amex Plat (pre-approved)? Currently at 6/24 and 8 inq (yikes).

Re: Chase shutdown questions

Anonymous — Sat, 08 Jun 2019 01:10:34 GMT

If you want it then go for it. If you're aware of the situations in which people get shutdown then you're well beyond many others that don't come here looking for info. If you don't have a high number of new accounts surrounding the app then you should be fine. The 5/24 isn't a hard rule but, it's common enough. Just like AA isn't as common as it seems here than it is in reality.

Just give it some space after approval before going on a spree of any sorts to be safe.

Re: Chase shutdown questions

ToxikPH — Sat, 08 Jun 2019 01:16:11 GMT

I got three new cards in April and one yesterday (6/6), probably too recent to take the risk I'm assuming? (Two of those cards have not reported)

Re: Chase shutdown questions

sarge12 — Sat, 08 Jun 2019 01:20:28 GMT

@ToxikPH wrote:
I know that it's possible to get a Chase card above 5/24 if you are pre-approved in a branch. What would cause a shutdown if you were above but still approved? I know that a lot of people report shutdowns with too many accounts around applying for Chase. Should I go after the CSP or the Amex Plat (pre-approved)? Currently at 6/24 and 8 inq (yikes).

I am not sure this is relevant, but Chase recently informed me they were closing my Freedom Unlimited account due to non-use. I called and they asked me did I wish them to reconsider. I said no, because I really do not need the card anymore, but asked if I could transfer it's credit limits to my often used Chase Amazon Prime card? She said sure, no problem, and they would code the Freedom Unlimited as closed by consumer. So far my interactions with Chase have been positive. The 2 Chase cards were 8000 CL each and now is just the Chase Amazon Prime card with 16000 credit limit.

Re: Chase shutdown questions

Revelate — Sat, 08 Jun 2019 01:34:36 GMT

@sarge12 wrote:
@ToxikPH wrote:
I know that it's possible to get a Chase card above 5/24 if you are pre-approved in a branch. What would cause a shutdown if you were above but still approved? I know that a lot of people report shutdowns with too many accounts around applying for Chase. Should I go after the CSP or the Amex Plat (pre-approved)? Currently at 6/24 and 8 inq (yikes).
I am not sure this is relevant, but Chase recently informed me they were closing my Freedom Unlimited account due to non-use. I called and they asked me did I wish them to reconsider. I said no, because I really do not need the card anymore, but asked if I could transfer it's credit limits to my often used Chase Amazon Prime card? She said sure, no problem, and they would code the Freedom Unlimited as closed by consumer. So far my interactions with Chase have been positive. The 2 Chase cards were 8000 CL each and now is just the Chase Amazon Prime card with 16000 credit limit.

That's useful information; I'd always assumed that much like Amex that if you had any use on Chase cards that others were in the clear... ah well, off to swipe my Freedom card like right TF now!

How long had it been since you last swiped it?

Re: Chase shutdown questions

Anonymous — Sat, 08 Jun 2019 02:42:09 GMT

@ToxikPH wrote:
I know that it's possible to get a Chase card above 5/24 if you are pre-approved in a branch. What would cause a shutdown if you were above but still approved? I know that a lot of people report shutdowns with too many accounts around applying for Chase. Should I go after the CSP or the Amex Plat (pre-approved)? Currently at 6/24 and 8 inq (yikes).

Most of the time people are shut down for apping 2 cards at once. I was approved for the CSP at 4/24, because Amex takes two whole months before they report new accounts and no HP. If I were you I'd go for CSP first, as Amex isn't as touchy on account openings as Chase. Though I'd give it 6 months between the two just to let some dust settle.

Re: Chase shutdown questions

sarge12 — Sat, 08 Jun 2019 06:42:36 GMT

@Revelate wrote:
@sarge12 wrote:
@ToxikPH wrote:
I know that it's possible to get a Chase card above 5/24 if you are pre-approved in a branch. What would cause a shutdown if you were above but still approved? I know that a lot of people report shutdowns with too many accounts around applying for Chase. Should I go after the CSP or the Amex Plat (pre-approved)? Currently at 6/24 and 8 inq (yikes).
I am not sure this is relevant, but Chase recently informed me they were closing my Freedom Unlimited account due to non-use. I called and they asked me did I wish them to reconsider. I said no, because I really do not need the card anymore, but asked if I could transfer it's credit limits to my often used Chase Amazon Prime card? She said sure, no problem, and they would code the Freedom Unlimited as closed by consumer. So far my interactions with Chase have been positive. The 2 Chase cards were 8000 CL each and now is just the Chase Amazon Prime card with 16000 credit limit.
That's useful information; I'd always assumed that much like Amex that if you had any use on Chase cards that others were in the clear... ah well, off to swipe my Freedom card like right TF now!

How long had it been since you last swiped it?

Over 2 years ago.

Re: Chase shutdown questions

Revelate — Sat, 08 Jun 2019 20:26:40 GMT

Thanks sarge.

I did just go swipe my Freedom yesterday and my Discover today, both were over a year. Better safe than sorry haha, that is the last of my ones that hadn’t been used even swiped the BCE and that’s got to be like 4 years since I last used that one.

Admittedly I have a Zync and a SCP that both get recurring charges so that isn’t that surprising.

Re: Chase shutdown questions

sarge12 — Sat, 08 Jun 2019 21:44:03 GMT

@Revelate wrote:
Thanks sarge.

I did just go swipe my Freedom yesterday and my Discover today, both were over a year. Better safe than sorry haha, that is the last of my ones that hadn’t been used even swiped the BCE and that’s got to be like 4 years since I last used that one.

Admittedly I have a Zync and a SCP that both get recurring charges so that isn’t that surprising.

Well, I really could not blame them for closing the card....well saying they were going to close it on the expiration date. In fact, since they allowed me to transfer the CL, to where my utilization would not be affected, it actually proved helpful. I do not really see it as AA, and the notifying me in advance is not really indicative of AA either. I do want to use my Discover and Citi DC soon. I am not sure I even want to use my Wells Fargo card...I somehow always feel like I need a shower after using their card. They have never done anything nasty to me, that I am aware of, but their well known treatment of some customers is just offensive. It actually led me to putting that card under another in my wallet so nobody can see I have it when removing another card.

Re: Chase shutdown questions

sarge12 — Sun, 09 Jun 2019 01:51:46 GMT

As a follow up, I am including the body of the closure letter, before they transferred my CL...Would you personally consider this Adverse action if the credit limit was transferred to another card and indicating closed by consumer? I also need to add it was about 2 years and 1 month since the last charge, and they did say I could keep it open, if I wished. So for those who have a very clean credit file and history with chase, 2 years of inactivity might be significant for any 1 card, but even then a phone call can prevent closure or transfer the credit limit as I did.

Re: Chase shutdown questions

Anonymous — Sun, 09 Jun 2019 01:34:48 GMT

I actually had the non-use experience 2 years ago this month. I had already lowered the CL to $500 on it a long time before they sent me the letter about it. Same experience with the expiration date / closing. I picked up a CFU/BOA/AMZN to replace it. Well, not really but, they were nice grabs at the time and my beginning to make credit work for me instead of the other way around.

As to the 1 active keeps the others active... definitely not with Chase. Seems to be working with USB though... Can't say w/ Citi though since any time I get my 2K bump on one I have to use it to make it report.

Re: Chase shutdown questions

sarge12 — Sun, 09 Jun 2019 01:56:08 GMT

@Anonymous wrote:
I actually had the non-use experience 2 years ago this month. I had already lowered the CL to $500 on it a long time before they sent me the letter about it. Same experience with the expiration date / closing. I picked up a CFU/BOA/AMZN to replace it. Well, not really but, they were nice grabs at the time and my beginning to make credit work for me instead of the other way around.

As to the 1 active keeps the others active... definitely not with Chase. Seems to be working with USB though... Can't say w/ Citi though since any time I get my 2K bump on one I have to use it to make it report.

Yes and the Citi cards I have are actually a concern to me because my Costco membership is tied to the Citi Costco, and the only charge on it last year was my membership fee, but my Mother is on that membership so I want to keep the costco membership.

Re: Chase shutdown questions

Anonymous — Sun, 09 Jun 2019 02:58:40 GMT

@sarge12 wrote:
As a follow up, I am including the body of the closure letter, before they transferred my CL...Would you personally consider this Adverse action if the credit limit was transferred to another card and indicating closed by consumer?

Almost a philosophical question ("If AA is taken in the forest and no one hears it.....")! From the viewpoint of your CR, it's not really AA because people do this themselves all the time. On Chase internal record, possibly a little, you are a non-user on at least one chase card.

And "actually": Well, if you hadn't planned to close the card, and you were sort-of forced to, then yes, a type of AA, just with very little consequences. But then AA such as reducing CL, and restoring it a few months later, is also real AA with not much long term damage.

Re: Chase shutdown questions

Anonymous — Sun, 09 Jun 2019 03:04:16 GMT

Once a year is like an apple a day.

Re: Chase shutdown questions

sarge12 — Sun, 09 Jun 2019 03:37:27 GMT

@Anonymous wrote:
@sarge12 wrote:
As a follow up, I am including the body of the closure letter, before they transferred my CL...Would you personally consider this Adverse action if the credit limit was transferred to another card and indicating closed by consumer?

Almost a philosophical question ("If AA is taken in the forest and no one hears it.....")! From the viewpoint of your CR, it's not really AA because people do this themselves all the time. On Chase internal record, possibly a little, you are a non-user on at least one chase card.

And "actually": Well, if you hadn't planned to close the card, and you were sort-of forced to, then yes, a type of AA, just with very little consequences. But then AA such as reducing CL, and restoring it a few months later, is also real AA with not much long term damage.

Well, I was a non-user, but the CSR telling me that she can keep it open if I wished, plus transferring the credit limit and saying she would code it as closed by consumer, leads me to think it is not exactly AA, and more just an attempt to figure out how to get activity showing again. Even the letter made it sound like a request more than a demand. I feel that a true AA on the card might not include the option to keep the account open or transfer the credit limit. I also have always thought that there was no advantage to closed by consumer over closed by issuer, but her telling me specifically she would code it closed by consumer leads me to think it might be viewed differently. Both the letter and CSR seemed to be a more friendly tone than I would expect to have in AA.

Re: Chase shutdown questions

sarge12 — Sun, 09 Jun 2019 03:50:57 GMT

I wonder if closed by issuer might would result in future denial for other chase cards where closed by consumer would not? It almost makes me want to apply for another chase card just to find out. I know I have read that as far as a fico score...closed, is closed!

Re: Chase shutdown questions

Revelate — Sun, 09 Jun 2019 07:45:27 GMT

No not AA. JMHO

Since so many acronyms, CBC vs CBCG is absolutely irrelevant as a notation on your credit report.

Also to be clear it won’t matter to Chase either: they know you weren’t using the tradeline, that is the bigger issue than who took action to close it.

I wanted my Freedom open just hadn’t used it in a while cause Gas and Restaurants were about my only two use cases and went EV and restaurants haven’t been a thing lately so went 1.5 years nearly sans swipe: fixed it!

Re: Chase shutdown questions

sarge12 — Sun, 09 Jun 2019 10:34:54 GMT

@Revelate wrote:
No not AA. JMHO

Since so many acronyms, CBC vs CBCG is absolutely irrelevant as a notation on your credit report.

Also to be clear it won’t matter to Chase either: they know you weren’t using the tradeline, that is the bigger issue than who took action to close it.

I wanted my Freedom open just hadn’t used it in a while cause Gas and Restaurants were about my only two use cases and went EV and restaurants haven’t been a thing lately so went 1.5 years nearly sans swipe: fixed it!

I think based on what they said about keeping it open with no changes if I wanted to do that, it just came down to them not wanting to issue the new card only to have it go unused for another 4 years. I guess I will eventually find out if I ever apply for a Chase Sapphire Preferred or something like it. I just have never heard of AA being done with over a months prior notice, nor being told I could keep it open or transfer the bonus. It is just hard to make myself use cards that have less cash back than the Citi DC, and equal cash back to Quicksilver that adds the cash back very quickly and does not have a minimum amount to redeem. I actually like it better having the combined credit limits on the Chase Amazon Prime card, mainly because having a good many cards with over 15000 in credit limits seems to cause future starting limits to be higher. I think it even will not affect my AAoA until it falls off my report if I am not remembering that wrong. Of paticular interest is that the Chase 5/24 norm, lines up with the fact that the notice was sent after 24 months inactivity. I might be reading too much into that but it seems 24 months has some kind of significance with Chase on a lot of things. They sent out an income update request after having the card for 24 months also as I recall to have more current info for CLI's.

Re: Chase shutdown questions

Revelate — Sun, 09 Jun 2019 18:27:34 GMT

I’m pretty sure the 24 month similarities you noticed are pure coincidence... Chase is pretty sophisticated in terms of data-driven analytics and isn’t prone to flights of fancy in my experience anyway.

Re: Chase shutdown questions

sarge12 — Sun, 09 Jun 2019 23:42:54 GMT

@Revelate wrote:
I’m pretty sure the 24 month similarities you noticed are pure coincidence... Chase is pretty sophisticated in terms of data-driven analytics and isn’t prone to flights of fancy in my experience anyway.

OK...good to know. I re-thought that anyway. The notice of the account closure was more likely to have been due to the fact the card expiration date was next month, so they would have needed to send a new card then if it remained open, the fact that it was a little over 24 months since last used was probably coincidence, and may have been done even if it had been 18 months since last used. They likely check for last date used a bit before the card expires and if it has not been used in a long time they send the notice.