Chase - Previous unsatisfactory relationship....(guess I'm not special!)

[FinStar]

Some individuals have overcome the naughty list. However, it will take some effort on your part and some considerable time to let the dust settle.

So, the first hurdle to clear is 5/24. Chase accounts (even if closed) will count toward that restriction. So you're at least looking at 2 years minimum from your last set of accounts that are part of 5/24.

Unfortunately, all Chase CCs are now part of that restriction, the last batch of them (Hyatt, Amazon, IHG, British Airways, etc.) joining the ranks around mid-November.

[Anonymous]

yeah, i'm closing old accounts and not opening anything else to see if i can finally get past that 5/24 rule.  because of the federal fraud, i can get my credit reports twice, for free, each year, from each agency.  what i didn't realize too is that your "good" accounts don't come off for 10 years, not 7, like bad accounts.  i was very surprised to see how big my credit reports were, because i assumed a lot fell off, and won't, for another few years, even though closed.  

if you have any other ideas of how to get off the naughtly list, please let us know. and thanks

[FinStar]

No worries OP. I will PM you.

[Anonymous]

thanks!

[Pikaboo-icu]

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@Anonymous wrote:

yeah, i'm closing old accounts and not opening anything else to see if i can finally get past that 5/24 rule.  because of the federal fraud, i can get my credit reports twice, for free, each year, from each agency.  what i didn't realize too is that your "good" accounts don't come off for 10 years, not 7, like bad accounts.  i was very surprised to see how big my credit reports were, because i assumed a lot fell off, and won't, for another few years, even though closed.  

if you have any other ideas of how to get off the naughtly list, please let us know. and thanks

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You do understand that 5/25 doesn't mean you can't have more than 5 open accounts.

It means opening more than 5 in the last 24 months.

Reading your post above, it seems like you're closing accounts to get under 5/24 or am I misunderstanding?

Also accounts closed in good standing remaining for 10 years is a good thing- age, experience etc.. 

Just checking' 

[Anonymous]

yes, i'm not opening but i'm also closing not used or "now charging a fee" in the thought of getting whatever bonus it was again, in a few years.  

[Remedios]

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@Anonymous wrote:

yes, i'm not opening but i'm also closing not used or "now charging a fee" in the thought of getting whatever bonus it was again, in a few years.  

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I think you just answered your question on why Chase closed your accounts

Sorry it happened, tho 

[FinStar]

And to piggyback on @Remedios' comment, the SUB rules changed for a few Chase CCs, so in some cases it's 48 months.

Chase has been clamping down on the churning aspect of their products hence the reason you see lots more restrictions.

[CreditInspired]

OP

So sorry this has happened to you but honestly, I’m confused as to why you’re confused. Chase said why they closed the accounts—you have too much open credit!

Now I don’t know what your TCL is but it must be pretty high in relationship to your income. If you don’t mind sharing, what is your total CL? Mine is $128K, which is way more than I’ll ever need and I believe one day the same thing will happen to me. But if it does, it does—no biggy.

IMHO, just love your other cards and let Chase be the last thing on your mind—well at least for 24-months any how.

[Meanmchine]

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@Remedios wrote:

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@Anonymous wrote:

yes, i'm not opening but i'm also closing not used or "now charging a fee" in the thought of getting whatever bonus it was again, in a few years.  

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I think you just answered your question on why Chase closed your accounts

Sorry it happened, tho 

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