Chase Cancelled My Account For Following Dave Ramsey

[sjt]

The main reason why people pay before the statement cut off date is for utilization reasons that result in optimal FICO scoring.

[sjt]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Chase has been removing recon numbers or changing them because every time a new one is discovered by the financial bloggers and forums, it gets slammed with requests and demands.  So they change the number and it becomes trickier to discover.

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I keep getting told to call this number 1-800-290-1316. This was who I talked to that gave me the info that sparked this thread/rant.

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I just called the recon number on the Doctor of Credit site (it was a number I hadn't tried yet) and it seems like my Freedom Unlimited is a done deal. It's dead, they don't know why it's dead and they can't do anything about it. But, the Freedom I applied for, well there's a letter in the mail and I may get approved for it. Or I may not. No one seems to know anything. I might lose a card to gain a card. I was optimistic about getting the Freedom (prior to the closing of my account, of course) because I didn't get an instant approve but I got the 30 day message. Now, with this note floating around, I don't know what to expect. I'll let you guys and gals know.

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You should also get a letter regarding the closure of your Freedom U card. Once you get the letter and find out the reasons for the closure I would respond in writing and also contact the EO.

I think reason for the closure is the new accounts opened after you got the Freedom U card. BBS also brought up the point that it could be the purchases made on your Freedom U card as well.

[AverageJoesCredit]

If im swiping my card and paying what i owe before statement cuts i consider myself being tesponsible with my credit. If the bank doesnt like it, ill move on to the next one. This is why we should diversify. Chase isnt the be all end all. In reality it only takes a single credit card to make purchases, we just want multiple to earn rewards and such. . I hope all ends well op, just know eventually a young profile will thicken lol

[Gmood1]

Sorry OP for the troubles. Just know that Chase is not all that. lol
There plenty of other banks that would love to have your business.
I get it with some of you guys that pay after transactions in order to keep a handle on your bills. Some do it simply because they're OCD. Lol
It has nothing to do with utilization or budget. Ha ha
If you're that worried about using your credit. It maybe time to go back to a debit card. That's not to be a shot at anyone. It will just make it easier to manage things since the money is put on hold instantly in most cases.
Credit is not all score driven. Showing some history, whether it a little higher utilization some months may help you more than those few points of micromanagement.

[Anonymous]

“Paying early and repeatedly isn't illegal or any sort of violation of terms, but it can send a strange message to the bank. Why is this person making one $500 payment every week instead of one $2000 payment every month? Are they paranoid they'll run up debt? Do they not trust themselves to pay their statement on time? Are they scared of credit? If you're skittish about handling balances, chances are your bank is skittish about how you handle your balances, too.”
** Is this true? I was under the impression some banks (specificly CapOne) prefer this. I had read that over & over again here in the forums.

[iced]

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@brickie74 wrote:
“Paying early and repeatedly isn't illegal or any sort of violation of terms, but it can send a strange message to the bank. Why is this person making one $500 payment every week instead of one $2000 payment every month? Are they paranoid they'll run up debt? Do they not trust themselves to pay their statement on time? Are they scared of credit? If you're skittish about handling balances, chances are your bank is skittish about how you handle your balances, too.”
** Is this true? I was under the impression some banks (specificly CapOne) prefer this. I had read that over & over again here in the forums.

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To be clear, I'm stating it can send a strange message, not that banks necessarily or regularly act on that message. It's one of many data points a bank has at their disposal to assess what sort of debtor you are. If a bank is already on the fence about you because of other factors, this sort of pattern can be suspicious, but if it's the lone odd thing you do they're very unlikely to care.

As for what one bank or the other actually prefers, everything you read on these forums is conjecture unless it comes from someone speaking as a representative of that bank.

[Anonymous]

Thanks for elaborating further on that & i do see your point...
It has raised me to question if i am doing it the banks preferred way per say. I just want to follow the best banking practices to keep them happy, whatever that be.
In this case, i’m questioning if i should continue to make weekly payments (1k +|-) or one monthly payment (Pif)?

[Gmood1]

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@brickie74 wrote:
Thanks for elaborating further on that & i do see your point...
It has raised me to question if i am doing it the banks preferred way per say. I just want to follow the best banking practices to keep them happy, whatever that be.
In this case, i’m questioning if i should continue to make weekly payments (1k +|-) or one monthly payment (Pif)?

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IME 0ne payment before due date will suffice unless your utilization is running over 29%.

[Anonymous]

Thanks, that seems like solid advice

[Anonymous]

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@iced wrote:

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@brickie74 wrote:
“Paying early and repeatedly isn't illegal or any sort of violation of terms, but it can send a strange message to the bank. Why is this person making one $500 payment every week instead of one $2000 payment every month? Are they paranoid they'll run up debt? Do they not trust themselves to pay their statement on time? Are they scared of credit? If you're skittish about handling balances, chances are your bank is skittish about how you handle your balances, too.”
** Is this true? I was under the impression some banks (specificly CapOne) prefer this. I had read that over & over again here in the forums.

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To be clear, I'm stating it can send a strange message, not that banks necessarily or regularly act on that message. It's one of many data points a bank has at their disposal to assess what sort of debtor you are. If a bank is already on the fence about you because of other factors, this sort of pattern can be suspicious, but if it's the lone odd thing you do they're very unlikely to care.

As for what one bank or the other actually prefers, everything you read on these forums is conjecture unless it comes from someone speaking as a representative of that bank.

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Sure don't know where the "send a strange message" to the banks is coming from? Been in the credit usage business back to 1972 and not once did a bank or lender ever get nervous with my payment habits. Like has been mentioned some of us get OCD and I like the bills paid. Personal preference. As living proof, I have NEVER had a problem with any and many lenders over all the years I have dealt with credit. Can't believe some of the stuff I read