No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
@Anonymous wrote:What an awful, hateful, shady institution.
Sorry that this happened to you, hopefully you can make a compelling enough case to get them to overturn the decision.
Chase is simply addressing a risk instance, how is that exaclty hateful? It is unfortunate the OP experienced the AA, but until the situation is cleared up or the OP gets more information on the account closure, the actions are hardly construed as shady. Chase has been known to clamp down in a variety of circumstances, but they're hardly the only FI that does this.
@FinStar wrote:
@Anonymous wrote:What an awful, hateful, shady institution.
Sorry that this happened to you, hopefully you can make a compelling enough case to get them to overturn the decision.
Chase is simply addressing a risk instance, how is that exaclty hateful? It is unfortunate the OP experienced the AA, but until the situation is cleared up or the OP gets more information on the account closure, the actions are hardly construed as shady. Chase has been known to clamp down in a variety of circumstances, but they're hardly the only FI that does this.
I’m entitled to have my opinions like everyone else. I have never had a high opinion of Bank One, I mean Chase. I am truly curious to see what asinine reason they give the OP.
Chase is 100% a shady financial institution and while that can be said about all banks Chase, BoA and Wells Fargo tend to earn their negative reputations.
Apparently I’m not really alone in my dislike of them - https://www.americanbanker.com/news/bank-reputation-survey
OP, sorry that happened to you. I feel there is something missing in your story but I would like to mention that Chase doesn't like it when you are a new customer and you keep paying and linking multiple external banks to pay cards or transfer funds.
As far as shady acts all financial institutions in the United States have shady tactics, algorithms and they are tracking every single account all day every day, think of them as a frightened rat running from a big cat, the cat being the US Government. Everyone should stop being loyal to a certain bank and defend a bank because at the end of the day they don't care about you. Every bank's top priority is avoiding hefty penalties from US Government relating to money laundering and all that stuff, they don't care about any particular customer because there is always more fish in the sea and the nation is full of rich people and not so smart people paying interest. Keep that in mind and have relationships with multiple banks that way you are always covered in case a bank goes rogue on you for any ridiculous reason.
Sorry this is happening to you OP. I'm very interested to see what Chase says when you call on Monday. I wouldn't be able to wait patiently until then. I would be at my local branch trying to find someone who could give me answers.
@Anonymous wrote:What. The. [Redacted]. Chase?
I applied for a CSP via black star "just for you" with a solid APR on May 7th. Today, the 17th, I call the automated line and got 7-10 days message. Hopefully it was just verification... Nope, after being moved around a couple departments, I got lending and he looked into it to tell me it was denied... for... "Unsatisfactory relationship with Chase" WAT!?
He looked into it and they denied the application today, along with CLOSING MY CFU. The CFU that's currently sitting at 0 balance after paying in full a couple days ago. The CFU that's never carried a balance, the one that has always been PIF'd and only one time rolled a statement with a balance (of only $90 of $3300). Which was PIF'd the following day.
When they pulled my reports, my FICO scores are current in my sig, along with INQs. Reported balance was $15, $7 on my Discover, $8 on my Cash+. The lending department was transfering me to another department and they disconnected me. Called back, and apparently the office JUST closed, so they picked it up and hung it up. So now I have to wait until Monday to see what the crap happened. Ugh, this is going to grind on my anxiety all weekend.
Some data points:
Oldest Account: 3 years
AAoA: 9 Mo.
Never carried a balance.
Highest reported balance: $157
Always PIF'd, no lates, no missed payments.
Completely clean reports.
Honestly, going in and talking to a banker made a huge difference for me! My girlfriend is dealing with quite the conundrum, but our banker got the manager involved who then contacted the corporate office, more progress was made in 15 minutes at the bank than 3 hours on the phone, similarly running into the department closing every time I get forwarded.
OP, you mention that you have completely clean reports, but has that always been the case? Is there a chance you have any old derogatory accounts with Chase or any of their affiliates?
If you haven't already read the following thread, I recommend that you check it out.
https://ficoforums.myfico.com/t5/Credit-Cards/Sometimes-the-churner-does-the-burning/td-p/5611331
You will see that the OP in that thread had a 12 year old charge off that came up during the review of the new application and was apparently the cause for Chase closing all of their accounts.
Horrible situation OP. I use Chase for my primary checking and savings and have one card with them currently (Freedom). I'm very interested in what's going on with your situation. If it were me, I'd be at my local branch bright and early this morning (even though it's Saturday).
Good luck!
Edit: spelling
Whenever you apply for a chase card if they wanna approve you they do a secondary overall check. They didn't like your velocity (too many chase accounts in a short period given that you opened a credit card and checking and CSP in 3 months period and also looks like you have short credit history with many recent open accounts). I totally see Chase doing that, not saying it's fair but not new.
Sorry OP