topic Re: Chase closed most of my credit cards in Credit Cards

Chase closed most of my credit cards

Anonymous — Fri, 07 Mar 2014 23:14:48 GMT

Well I just found out this morning that most of my Chase CCs were closed after a periodical review.

Not pissed off or anything, was just a little surprised initially that Chase will take AA against me instead of Barclays. Called in and talked to a lender, and he explained the reasons behind the closure. Basically I had too many recent inquiries (14 on EX in the past 12 months; several due to auto lease and loan), and obtained too much credit over the past year. Both valid reasons. Asked if they could reopen, and he said not right now, but I can call in to have them review it again within 90 days from the date the last payment is made on the account. However, they seemed to have left my Palladium alone for some reason, even though they're all underwritten and managed by the same department, I think. The card didn't appear as closed on the website, and I didn't want to raise anymore issues by asking about the Palladium card.

My initial worry was my UR points, which the lender said is gone, and said I could write in to their executive office in Elgin illinois with regards to that. I went to UR and was still able to combine points, which probably has to do with the Palladium being open and also 1 of my "grandfathered" Chase checking accounts which had UR rewards. I was able to transfer 360k points to Hyatt, with about 600+ points left on Chase UR, and the points showed up on my Hyatt account instantly.

Went to Petco, bought a canned food using the Palladium, and charge went through just fine. So overall it's not a big deal, since the rewards structure is similar to the CSP, except that I am now missing out on Freedom 5X categories and Ritz benefits. Ritz points and vouchers are still showing up on my Ritz account. Also asked about the AF for Ritz, but was told I will not be getting a partial refund. Not really concerned about that as well.

Asked if this means I'm blacklisted, he said no, and also that Chase doesn't operate a blacklist.

I called EO right before they were about to close, and explained what happened. Was told that they will contact me back within 2-3 business days. My PB is off today, so I'll talk to her tomorrow instead.

After some reading online, it seems that 4 Chase apps within a 12 month period seems to be the main cause. Several people on other forums had the same issue after putting in 4 chase apps within a year.

Anyhow, slightly bummed that this happened, but at least they let me keep the Palladium, for now. If they can't reopen then I'll just reapply in the early next year after most inquiries fall off. It's hard to get mad or anything since their reasons for closure are all valid. Just hoping the same won't happen with other lenders in the meantime.

Re: Chase closed most of my credit cards

B335is — Fri, 07 Mar 2014 23:24:06 GMT

Wow...

Weren't you recently approved for Palladium? Was it CSP and Freedom that were closed?

At least you were able to liquidate those UR points.

Re: Chase closed most of my credit cards

Anonymous — Fri, 07 Mar 2014 23:27:34 GMT

@B335is wrote:
Wow...

Weren't you recently approved for Palladium? Was it CSP and Freedom that were closed?

At least you were able to liquidate those UR points.

Yup. There were 2 Chase SP and 1 Amex account review SP done on the same day as the HP was done for the Palladium.

Most likely that's what triggered the review.

They closed Freedom, CSP and Ritz. I closed my Amazon card a couple weeks ago.

Re: Chase closed most of my credit cards

red259 — Fri, 07 Mar 2014 23:27:40 GMT

@Anonymous wrote:
Well I just found out this morning that most of my Chase CCs were closed after a periodical review.

Not pissed off or anything, was just a little surprised initially that Chase will take AA against me instead of Barclays. Called in and talked to a lender, and he explained the reasons behind the closure. Basically I had too many recent inquiries (14 on EX in the past 12 months; several due to auto lease and loan), and obtained too much credit over the past year. Both valid reasons. Asked if they could reopen, and he said not right now, but I can call in to have them review it again within 90 days from the date the last payment is made on the account. However, they seemed to have left my Palladium alone for some reason, even though they're all underwritten and managed by the same department, I think. The card didn't appear as closed on the website, and I didn't want to raise anymore issues by asking about the Palladium card.

My initial worry was my UR points, which the lender said is gone, and said I could write in to their executive office in Elgin illinois with regards to that. I went to UR and was still able to combine points, which probably has to do with the Palladium being open and also 1 of my "grandfathered" Chase checking accounts which had UR rewards. I was able to transfer 360k points to Hyatt, with about 600+ points left on Chase UR, and the points showed up on my Hyatt account instantly.

Went to Petco, bought a canned food using the Palladium, and charge went through just fine. So overall it's not a big deal, since the rewards structure is similar to the CSP, except that I am now missing out on Freedom 5X categories and Ritz benefits. Ritz points and vouchers are still showing up on my Ritz account. Also asked about the AF for Ritz, but was told I will not be getting a partial refund. Not really concerned about that as well.

Asked if this means I'm blacklisted, he said no, and also that Chase doesn't operate a blacklist.

I called EO right before they were about to close, and explained what happened. Was told that they will contact me back within 2-3 business days. My PB is off today, so I'll talk to her tomorrow instead.

After some reading online, it seems that 4 Chase apps within a 12 month period seems to be the main cause. Several people on other forums had the same issue after putting in 4 chase apps within a year.

Anyhow, slightly bummed that this happened, but at least they let me keep the Palladium, for now. If they can't reopen then I'll just reapply in the early next year after most inquiries fall off. It's hard to get mad or anything since their reasons for closure are all valid. Just hoping the same won't happen with other lenders in the meantime.

This just sucks. When you mention 4 chase apps in a year as maybe being tthe trigger, is that four chase apps or 4 chase apps that result in an approval? I picked up two chase cards, but I have had four apps with them.

Re: Chase closed most of my credit cards

Creditaddict — Fri, 07 Mar 2014 23:30:14 GMT

@Anonymous wrote:
Well I just found out this morning that most of my Chase CCs were closed after a periodical review.

Not pissed off or anything, was just a little surprised initially that Chase will take AA against me instead of Barclays. Called in and talked to a lender, and he explained the reasons behind the closure. Basically I had too many recent inquiries (14 on EX in the past 12 months; several due to auto lease and loan), and obtained too much credit over the past year. Both valid reasons. Asked if they could reopen, and he said not right now, but I can call in to have them review it again within 90 days from the date the last payment is made on the account. However, they seemed to have left my Palladium alone for some reason, even though they're all underwritten and managed by the same department, I think. The card didn't appear as closed on the website, and I didn't want to raise anymore issues by asking about the Palladium card.

My initial worry was my UR points, which the lender said is gone, and said I could write in to their executive office in Elgin illinois with regards to that. I went to UR and was still able to combine points, which probably has to do with the Palladium being open and also 1 of my "grandfathered" Chase checking accounts which had UR rewards. I was able to transfer 360k points to Hyatt, with about 600+ points left on Chase UR, and the points showed up on my Hyatt account instantly.

Went to Petco, bought a canned food using the Palladium, and charge went through just fine. So overall it's not a big deal, since the rewards structure is similar to the CSP, except that I am now missing out on Freedom 5X categories and Ritz benefits. Ritz points and vouchers are still showing up on my Ritz account. Also asked about the AF for Ritz, but was told I will not be getting a partial refund. Not really concerned about that as well.

Asked if this means I'm blacklisted, he said no, and also that Chase doesn't operate a blacklist.

I called EO right before they were about to close, and explained what happened. Was told that they will contact me back within 2-3 business days. My PB is off today, so I'll talk to her tomorrow instead.

After some reading online, it seems that 4 Chase apps within a 12 month period seems to be the main cause. Several people on other forums had the same issue after putting in 4 chase apps within a year.

Anyhow, slightly bummed that this happened, but at least they let me keep the Palladium, for now. If they can't reopen then I'll just reapply in the early next year after most inquiries fall off. It's hard to get mad or anything since their reasons for closure are all valid. Just hoping the same won't happen with other lenders in the meantime.

Well you are better then me because when a sweeping closure like that happens and it's "Just" Inq's and new accounts but not a huge inscrease in debt, no lates, no baddies, etc. I think it's total BS....

It always makes me feels so damned if I do and damned if I don't try to build a relationship with 1 or 2 banks... you did and I look at your sigi and I would want to give you MORE credit if I was an underwriter with chase to try to get you with my bank more than Amex but instead they just swipe ALL of them at once... and it further irritates me when you have a private banker... it totally underminds them trying to build the big fish relationship I guess you could say... I mean I don't know much about chase and private bankers and if they earn money off you and your accounts or how that works but you can bet your A.. that if someone little underwriter off in no land came in and swiped all my private banking client cards without talking to me (if I really am managing all the money or something) and cost me money out of my pocket, I would find a new job!

but I am the dramatic one and things like this just really rub me wrong so I guess we can figure it's to be expected!!

but I do recall someone else getting swiped for almost $95k or something last year but left the $300k palladium but he quickly made a phone call into Bank of America and they upped him to like $40k in a single call on 1 card and promised to work with him a lot more in the near future if he started moving cash from chase too... so this doesn't seem to be uncommon which I really don't understand.... I would think the fact you have a palladium would make them step away from all your accounts until they looked a little deeper beyond some credit pulls!!

Re: Chase closed most of my credit cards

Anonymous — Fri, 07 Mar 2014 23:31:05 GMT

@red259 wrote:
This just sucks. When you mention 4 chase apps in a year as maybe being tthe trigger, is that four chase apps or 4 chase apps that result in an approval? I picked up two chase cards, but I have had four apps with them.

I just meant 4 chase apps in general. At least that's what a lot of the other people on FW and several other forums had in common.

Had I waited 3 more weeks, 2 of my Chase apps will be >1 year old. So maybe I should have been a bit of patient myself.

What probably made it worse is the fact that they just issued me 100k as well, on top of a recent Amex approval in Jan. The account opening date is backdated, but the analyst was able to tell right away that the account is only opened this year by matching inquiry dates. Citi pulled EQ for my AA app, and the account hasn't reported yet. So that's only going to make it worse if they find out.

Re: Chase closed most of my credit cards

B335is — Fri, 07 Mar 2014 23:32:47 GMT

@Anonymous wrote:
@B335is wrote:
Wow...

Weren't you recently approved for Palladium? Was it CSP and Freedom that were closed?

At least you were able to liquidate those UR points.
Yup. There were 2 Chase SP and 1 Amex account review SP done on the same day as the HP was done for the Palladium.
Most likely that's what triggered the review.

They closed Freedom, CSP and Ritz. I closed my Amazon card a couple weeks ago.

I'm really sorry. You're one of the last people I would think this could happen to. I got 3 cards with them last year and because of your advice I won't try for any more with Chase.

Re: Chase closed most of my credit cards

IcEWoLF — Fri, 07 Mar 2014 23:35:13 GMT

Wow, that's crazy. I got 2 chase cards last year, the CSP & the Amazon, and was declined a CLI on my Freedom.

I closed my regular CS and moved the CL to my Freedom. Good thing I closed the CS, so this way I did not end up having 4 cards with chase.

I think things went better for me because I paid off my auto loan with chase last year. (72 months loan paid off in 36 months). I was considering requesting a CLI on my CSP, but after reading this I better hold off until next year.

I opened several cards last year, Discover IT, NFL Barclay Card, Amazon CC, BoA Privileges, Merryl Lynch, and Citi TY preferred. I hope none of the lenders close any of my cards...the main reason I got them was for the bonuses except the ML.

This year my plan is to lay off low and then get what I want next January.

Re: Chase closed most of my credit cards

sailor_mercury — Fri, 07 Mar 2014 23:36:58 GMT

I am really suprised and sorry to read that. You are last person I can think of that it would happen to. Thanks for posting. I have opened 3 Chase cards in 3 months, I will deff make sure I don't mess with any new acounts for at least a year.

I wish you the best with Chase and them reopening the accounts.

Re: Chase closed most of my credit cards

Anonymous — Fri, 07 Mar 2014 23:38:52 GMT

@Creditaddict wrote:
Well you are better then me because when a sweeping closure like that happens and it's "Just" Inq's and new accounts but not a huge inscrease in debt, no lates, no baddies, etc. I think it's total BS....

It always makes me feels so damned if I do and damned if I don't try to build a relationship with 1 or 2 banks... you did and I look at your sigi and I would want to give you MORE credit if I was an underwriter with chase to try to get you with my bank more than Amex but instead they just swipe ALL of them at once... and it further irritates me when you have a private banker... it totally underminds them trying to build the big fish relationship I guess you could say... I mean I don't know much about chase and private bankers and if they earn money off you and your accounts or how that works but you can bet your A.. that if someone little underwriter off in no land came in and swiped all my private banking client cards without talking to me (if I really am managing all the money or something) and cost me money out of my pocket, I would find a new job!
but I am the dramatic one and things like this just really rub me wrong so I guess we can figure it's to be expected!!

but I do recall someone else getting swiped for almost $95k or something last year but left the $300k palladium but he quickly made a phone call into Bank of America and they upped him to like $40k in a single call on 1 card and promised to work with him a lot more in the near future if he started moving cash from chase too... so this doesn't seem to be uncommon which I really don't understand.... I would think the fact you have a palladium would make them step away from all your accounts until they looked a little deeper beyond some credit pulls!!

Well yea I tried to point out my payment history, low utilization (4k balance reporting total across all cards), and FICO score (Citi pulled my FICO at 792) etc. He said it didn't matter and they use their own internal scores as opposed to FICO. Also mentioned my auto loans that are already paid off early, and the cars alone are over 100k in liquidable assets, on top of banking assets in both Chase and Citi and several commercial and residential properties that are already paid off in cash, but he said it didn't matter.

I did open quite a number of accounts and racked up a lot of inquiries this past year, so this isn't too surprising either. Hopefully the EO can reopen the accounts. If not, then I'll just reapply at a later date. Just hoping Amex or another lenders don't follow suit. They can FR me all they want, and I'll comply with all of them, as long as they keep the credit lines open. And also hoping they let me keep the Palladium. Just gonna use it as an expensive version of CSP I suppose.

Re: Chase closed most of my credit cards

gdale6 — Fri, 07 Mar 2014 23:40:50 GMT

Am sorry to hear this but I'm not surprised, a lot of you play the credit game and its a 2 way street, it will come back and bite you sometimes and its why I do not subscribe to what a lot of you are doing. You can only push a creditor so far. I wish you luck getting your cards back

Re: Chase closed most of my credit cards

Anonymous — Fri, 07 Mar 2014 23:42:46 GMT

@sailor_mercury wrote:
I am really suprised and sorry to read that. You are last person I can think of that it would happen to. Thanks for posting. I have opened 3 Chase cards in 3 months, I will deff make sure I don't mess with any new acounts for at least a year.

I wish you the best with Chase and them reopening the accounts.

Thanks! Hopefully get to work something out with them. Otherwise I'll just reapply.

@B335is wrote:
I'm really sorry. You're one of the last people I would think this could happen to. I got 3 cards with them last year and because of your advice I won't try for any more with Chase.

I was a little surprised. I would expect getting into trouble with Barclays, but I had already redeemed most of my points, and I don't plan to keep the account open unless retention offered something decent. But turns out Chase took AA against me first.

Now I'm just hoping the "closed by credit grantor" won't get me into other trouble with other lenders.

@IcEWoLF wrote:
Wow, that's crazy. I got 2 chase cards last year, the CSP & the Amazon, and was declined a CLI on my Freedom.
I closed my regular CS and moved the CL to my Freedom. Good thing I closed the CS, so this way I did not end up having 4 cards with chase.

I think things went better for me because I paid off my auto loan with chase last year. (72 months loan paid off in 36 months). I was considering requesting a CLI on my CSP, but after reading this I better hold off until next year.

I opened several cards last year, Discover IT, NFL Barclay Card, Amazon CC, BoA Privileges, Merryl Lynch, and Citi TY preferred. I hope none of the lenders close any of my cards...the main reason I got them was for the bonuses except the ML.

This year my plan is to lay off low and then get what I want next January.

I think you will be fine. I just have too many inquiries and they kept saying how my credit seeking behavior is aggresive, which is true.

Re: Chase closed most of my credit cards

red259 — Fri, 07 Mar 2014 23:43:26 GMT

@Anonymous wrote:
@red259 wrote:
This just sucks. When you mention 4 chase apps in a year as maybe being tthe trigger, is that four chase apps or 4 chase apps that result in an approval? I picked up two chase cards, but I have had four apps with them.
I just meant 4 chase apps in general. At least that's what a lot of the other people on FW and several other forums had in common.
Had I waited 3 more weeks, 2 of my Chase apps will be >1 year old. So maybe I should have been a bit of patient myself.

What probably made it worse is the fact that they just issued me 100k as well, on top of a recent Amex approval in Jan. The account opening date is backdated, but the analyst was able to tell right away that the account is only opened this year by matching inquiry dates. Citi pulled EQ for my AA app, and the account hasn't reported yet. So that's only going to make it worse if they find out.

Ugh. Now I am feeling stressed. Since getting my CSP on 1/2 I have picked up an Amex PRG, Amex BCP (17.1k) and a citi american executive card with a 11k credit line. Granted its not the same as getting 100k at once, but still its a lot of additional credit in a short time.

Re: Chase closed most of my credit cards

Anonymous — Fri, 07 Mar 2014 23:47:10 GMT

@gdale6 wrote:
Am sorry to hear this but I'm not surprised, a lot of you play the credit game and its a 2 way street, it will come back and bite you sometimes and its why I do not subscribe to what a lot of you are doing. You can only push a creditor so far. I wish you luck getting your cards back

I agree. I guess I did push them over the limit. Over the past year alone Chase did issue me over 150k in credit lines. Just a tad surprised it came from them instead of other banks, even though I'm CPC.

@red259 wrote:
Ugh. Now I am feeling stressed. Since getting my CSP on 1/2 I have picked up an Amex PRG, Amex BCP (17.1k) and a citi american executive card with a 11k credit line. Granted its not the same as getting 100k at once, but still its a lot of additional credit in a short time.

Haha don't be. I figured I post so that people in a similar situation as me can be aware before AA happens.

I was going to apply for the Amex Everyday and also ask for a CLI with Amex, but I am going to hold it off for a few months to see if there's any additional AA happening due to the "closed by credit grantor" remarks that will soon hit my Chase accounts. I paid off all of the accounts so hopefully the effects aren't going to be too big.

Re: Chase closed most of my credit cards

red259 — Fri, 07 Mar 2014 23:47:21 GMT

@Anonymous wrote:
@gdale6 wrote:
Am sorry to hear this but I'm not surprised, a lot of you play the credit game and its a 2 way street, it will come back and bite you sometimes and its why I do not subscribe to what a lot of you are doing. You can only push a creditor so far. I wish you luck getting your cards back
I agree. I guess I did push them over the limit. Over the past year alone Chase did issue me over 150k in credit lines. Just a tad surprised it came from them instead of other banks, even though I'm CPC.

Yea 150k in credit lines within a year is a lot for one lender and then adding on credit lines obtained at other banks. Still I would think Chase should be willing to work with you.

Re: Chase closed most of my credit cards

Anonymous — Fri, 07 Mar 2014 23:49:12 GMT

@red259 wrote:
@Anonymous wrote:
@gdale6 wrote:
Am sorry to hear this but I'm not surprised, a lot of you play the credit game and its a 2 way street, it will come back and bite you sometimes and its why I do not subscribe to what a lot of you are doing. You can only push a creditor so far. I wish you luck getting your cards back
I agree. I guess I did push them over the limit. Over the past year alone Chase did issue me over 150k in credit lines. Just a tad surprised it came from them instead of other banks, even though I'm CPC.

Yea 150k in credit lines within a year is a lot for one lender and then adding on credit lines obtained at other banks. Still I would think Chase should be willing to work with you.

hopefully I can work something out with EO, though I'm not optimistic about it. Based on what I've read so far, it's a major PITA to get the accounts reopened once they are closed, and chances are fairly slim in general, even though there are a number of people whom managed to get their accounts reopened eventually.

Re: Chase closed most of my credit cards

red259 — Sat, 08 Mar 2014 00:04:14 GMT

@Anonymous wrote:
@red259 wrote:
@Anonymous wrote:
@gdale6 wrote:
Am sorry to hear this but I'm not surprised, a lot of you play the credit game and its a 2 way street, it will come back and bite you sometimes and its why I do not subscribe to what a lot of you are doing. You can only push a creditor so far. I wish you luck getting your cards back
I agree. I guess I did push them over the limit. Over the past year alone Chase did issue me over 150k in credit lines. Just a tad surprised it came from them instead of other banks, even though I'm CPC.

Yea 150k in credit lines within a year is a lot for one lender and then adding on credit lines obtained at other banks. Still I would think Chase should be willing to work with you.
hopefully I can work something out with EO, though I'm not optimistic about it. Based on what I've read so far, it's a major PITA to get the accounts reopened once they are closed, and chances are fairly slim in general, even though there are a number of people whom managed to get their accounts reopened eventually.

The one positive thing is that even with the closures your certainly not lacking in overall credit. It is a pain in the neck for point collectors though. After reading your post I went straight to the chase website and made a payment on my account. heh.

Re: Chase closed most of my credit cards

Anonymous — Sat, 08 Mar 2014 00:04:53 GMT

And you didn't even MS! Great thing is that you were able to redeem your UR, which makes you luckier than most. As you say, most people are unable to get the security departments to change their minds, but good luck anyway.

Re: Chase closed most of my credit cards

newUser0 — Sat, 08 Mar 2014 00:08:08 GMT

I am really very sorry about this. Just now, I got my CSP (5K) card by UPS.

I went to CVS to get some VR. They will be usually out of stock, but today they had 6. That's what was needed to meet my spending requirements. Then, swiped my card for 3.1K. It did not went through, and asked the cashier to call the back to be approved.

Later Chase Fraud team called me up immediately, asked 10-15 Questions about CR and all and then they approved the charges. I am really getting VERY VERY SCARED now...

This is my 3rd card with chase in less than 2 months...

Re: Chase closed most of my credit cards

Anonymous — Sat, 08 Mar 2014 00:09:48 GMT

@Anonymous wrote:
And you didn't even MS! Great thing is that you were able to redeem your UR, which makes you luckier than most. As you say, most people are unable to get the security departments to change their minds, but good luck anyway.

Yea I did luck out in that aspect. I probably would be pissed if I lost all my UR points.

If they closed my Palladium now too, then I probably will be a little more depressed, but overall I'm somewhat relieved since I got my points to Hyatt. Some people were able to have their points back in the form of a check at 1ccp after writing to EO, but even if that happened to me, I would still be pissed.