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Chase Denied and Closed

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Frequent Contributor

Re: Chase Denied and Closed

Only my Schwab and naturally Chase checking accounts were listed as pay from on the CFU. I mostly have the checking accounts to make moving money faster. I have a main savings with Ally, "fun" savings with discover (and subsequent 1% cash back on using it) US Bank is my local B&M for atm and cash deposits. Schwab is my main checking and brokerage, Chase checking was for making payments faster. I use Google pay to instantly move money between my checking accounts via the debit cards, usually within 45 seconds. Then pay each card from their respective checking accounts. On Chase, the available credit was immediately restored, balance updated the following business day. US Bank, everything is instant. My other cards are next day, in general just helping things clear faster. None of my checking accounts had subs.
$1,000 is a lot to owe, yet little to have.
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Message 41 of 82
Valued Contributor

Re: Chase Denied and Closed

I would call 800-290-1316 and if you dont get someone that feels good tell them you have another call you have to take and get off the line.  do not hang up.  I have been with chase, gulp, over 4 decades.  to me they like clean.  the only and I mean the only hiccup I have had with them is when I went for my 8th card, that is when I went under review for 10 days.  got the card without a hitch on the 10th day automatically.  to me they are straight shooters but on the net to people that have not gotten the results they want they are the bad guys.  life is pretty random EXCEPT when it comes to credit.  you can bet there is a specific reason this happened to you.  I would level with them, tell them your credit plan and be professional and let them tell you what the deal is.  be level headed and professional.  they have the ability to reverse their decision and open you back up.  be prepared to give them specific reasons you want the cards and your interned use.  be specific about your upcoming trip(s).  people love stories and by nature what to help out when they can

 

edit:  you must have decent scores if you got that cash+ @ $1K, that is like getting $5K with any other lender.  be professional with them, APOLOGIZE for the velocity that you have opened up other accounts because I am sure this was your downfall

Message 42 of 82
Regular Contributor

Re: Chase Denied and Closed


@Masterlink wrote:
Only my Schwab and naturally Chase checking accounts were listed as pay from on the CFU. I mostly have the checking accounts to make moving money faster. I have a main savings with Ally, "fun" savings with discover (and subsequent 1% cash back on using it) US Bank is my local B&M for atm and cash deposits. Schwab is my main checking and brokerage, Chase checking was for making payments faster. I use Google pay to instantly move money between my checking accounts via the debit cards, usually within 45 seconds. Then pay each card from their respective checking accounts. On Chase, the available credit was immediately restored, balance updated the following business day. US Bank, everything is instant. My other cards are next day, in general just helping things clear faster. None of my checking accounts had subs.

Wow ... not a bad system. Bummer that you got hit by Chase.


In my opinion, I wouldn't use Google Pay; instead, just use ACHs. Even with 2FA from Google, some people can get past it and there goes your digits for your debit card bc Google saves them on a cloud-connected to your email address.

Michigan Schools & Gov't Credit Union Classic Visa Card | $1kDiscover Student Cash Back | $2300Capital One Savor Card v1 | $11k AUAmex 1.5% CB | $2kBest Buy Store Card | $3k
Message 43 of 82
Valued Member

Re: Chase Denied and Closed


@bourgogne wrote:

there are lots of possibliles but one I like is if one is older in establishing credit, has a newish file and has an low aaoa + and has a bunch of accounts and and is siphoning off them in cash vs points transfers and is doing anything other than a single payment from a single account by either pay or push only once a month after the cut then its tagged as bust out fraud.  there you have it


Huh??

Message 44 of 82
Community Leader
Senior Contributor

Re: Chase Denied and Closed


@GenesisLS wrote:

@bourgogne wrote:

there are lots of possibliles but one I like is if one is older in establishing credit, has a newish file and has an low aaoa + and has a bunch of accounts and and is siphoning off them in cash vs points transfers and is doing anything other than a single payment from a single account by either pay or push only once a month after the cut then its tagged as bust out fraud.  there you have it


Huh??

^^^ this is what happens when commas and periods are not used.

 

Here is my take on what @bourgogne is saying.

 

When someone who just established credit (very thin file) starts opening several CCs, doing BTs vs point transfers, and making multiple monthly payments using varying payment methods whether push or pull, this could be tagged as breakout fraud. 

GOALS: Garden til APR 2020 and 800 Club



JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $18.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 45 of 82
Frequent Contributor

Re: Chase Denied and Closed

Update: My nerves are shot first thing on a Monday, this is great for my stress and anxiety levels! Smiley Happy

 

Gave them a call this morning via 800-290-1316. First thing that happened was not encouraging: The number forwarded me to the wrong department. It forwarded me to standard cardmember services. The lady actually asked first "Are you calling about account [CC # Here]?" instead of my name. Odd. Anyway, I explained that I'm wanting to speak to someone about the closure, and she was confused to as to why I was forwarded to her department. She then forwarded me to the fraud department, where a new woman sounded empathetic, but basically told me "tough crap, deal with it", stating there was nothing that could be done because she told me the reasons. Told her to have a nice day and thank you for the information.

 

Fast forward 5 minutes. I call back and get another rep, a nice man that actually pulled up the account, explained a few things about it and risk management. Then he mentioned it seemed the big concern was this: "You've been eligible for credit since 2006, but didn't open anything until 2016, then several in 2019. What took you so long to adopt credit?" It wasn't my payments or anything, it was my late uptake into credit, YEY! It's still coming back to haunt me!

 

I explained honestly that I never really wanted or needed credit, and I still don't "NEED" credit. I didn't want to chance falling into a debt trap like many of the people around me (my brother was over 12k in debt by 17...). Then when I got turned down for an apartment (gorgeous townhouse and cheap, brand new, pool, free gym, the works Smiley Sad ) because I had absolutely zero credit history, that's when I opened my first account. Built it a couple years, then tried for more cards (and met you fine people). He noted these reasons on my account and said he would put it up for review with a supervisor on my behalf. I mentioned I had applied for a CSP because I was getting into travel and he brought it up and went ahead with resubmitting it for review as well. He explained there's of course no garauntee, and the next supervisor would be seeing the same info as the one that closed the account, except now he does have the reasoning of why it took me so long to get credit to add into the information. He said they have 10 calender days to make a decision and they might call me for more information.

 

TL;DR: First rep sucked, second rep rocked. Gave more explained reasoning, took my counter arguement and explinations and resubmitted both reopening CFU and applying for CSP with the new info. Answer should be sometime before May 30th. Now we just let the cogs of time turn, and see if the plinko machine that is Chase's FR department falls into a beneficial spot.

$1,000 is a lot to owe, yet little to have.
Credit Cards

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Message 46 of 82
Community Leader
Senior Contributor

Re: Chase Denied and Closed


@Masterlink wrote:

Update: My nerves are shot first thing on a Monday, this is great for my stress and anxiety levels! Smiley Happy

 

Gave them a call this morning via 800-290-1316. First thing that happened was not encouraging: The number forwarded me to the wrong department. It forwarded me to standard cardmember services. The lady actually asked first "Are you calling about account [CC # Here]?" instead of my name. Odd. Anyway, I explained that I'm wanting to speak to someone about the closure, and she was confused to as to why I was forwarded to her department. She then forwarded me to the fraud department, where a new woman sounded empathetic, but basically told me "tough crap, deal with it", stating there was nothing that could be done because she told me the reasons. Told her to have a nice day and thank you for the information.

 

Fast forward 5 minutes. I call back and get another rep, a nice man that actually pulled up the account, explained a few things about it and risk management. Then he mentioned it seemed the big concern was this: "You've been eligible for credit since 2006, but didn't open anything until 2016, then several in 2019. What took you so long to adopt credit?" It wasn't my payments or anything, it was my late uptake into credit, YEY! It's still coming back to haunt me!

 

I explained honestly that I never really wanted or needed credit, and I still don't "NEED" credit. I didn't want to chance falling into a debt trap like many of the people around me (my brother was over 12k in debt by 17...). Then when I got turned down for an apartment (gorgeous townhouse and cheap, brand new, pool, free gym, the works Smiley Sad ) because I had absolutely zero credit history, that's when I opened my first account. Built it a couple years, then tried for more cards (and met you fine people). He noted these reasons on my account and said he would put it up for review with a supervisor on my behalf. I mentioned I had applied for a CSP because I was getting into travel and he brought it up and went ahead with resubmitting it for review as well. He explained there's of course no garauntee, and the next supervisor would be seeing the same info as the one that closed the account, except now he does have the reasoning of why it took me so long to get credit to add into the information. He said they have 10 calender days to make a decision and they might call me for more information.

 

TL;DR: First rep sucked, second rep rocked. Gave more explained reasoning, took my counter arguement and explinations and resubmitted both reopening CFU and applying for CSP with the new info. Answer should be sometime before May 30th. Now we just let the cogs of time turn, and see if the plinko machine that is Chase's FR department falls into a beneficial spot.


My fingers are crossed and GL2U. 

GOALS: Garden til APR 2020 and 800 Club



JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $18.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 47 of 82
Valued Contributor

Re: Chase Denied and Closed

call 800-290-1316 on 5/31.  you can call into the auto line if you want but give it a week.  you will probably at least get the closed account reopened and I think you have a good shot at getting the csp.  everyone likes a story.  churning and bust out look the same to lenders, lots of similar traits.  there is also no reason for you to have a bunch of checking accounts.  lenders can look at everything.  if you use a single checking for push/pull once a month, I like a week after a cut, and never use a cash advance, bal transfer or pay interest your credit issues going forward will be nill.  using a 0% promo is fine.  I like to drop the cash advance features on my cards to the min.  its all about risk.  good luck, post your results

Message 48 of 82
Regular Contributor

Re: Chase Denied and Closed

Thanks for sharing information about your chats with Chase customer service. Lots of potentially useful information there - sorry it had to come at your expense, though!
Message 49 of 82
Frequent Contributor

Re: Chase Denied and Closed

I too have my fingers crossed for good news for you at the end of this month!

Message 50 of 82
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