What the hell, Chase?

[Anonymous]

let us know what they tell you when you call

[avp99]

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@Anonymouswrote:
Man!! my motivation to get the CSR in 2020 is decreasing by reading this lol. Sorry OP!!!

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I agree! 

I have no idea what it is that everytime I do their prequal all it always says they can't find any cards for me to prequalify.  It goes on to say, have you recently opened a chase card account or have I opted out of prequalification.  I have no chase cards, pretty decent scores in the 750 range, no lates, no derogs, no public records....  I have not gone the HP route, because I want to see if there are prequals out there... but reading this stuff just makes me want to not even bother.

[UpperNwGuy]

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@NRB525wrote:
I suggest a take-away for others may be do not use the old methods of app spree, multiple cards at once and certainly not multiples from Chase at once.  

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+1

[SouthJamaica]

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@kgwinnwrote:

I am seriously annoyed. 

I've been rebuilding credit for a while, inching my way back from a couple of collections 5 years ago and a few years of not enough income. Now financially back on my feet, and reently paid off a chuck of CC debt with my tax refund, dropping my utilization and adding about 20 points to my scores. Yay!

So I started looking to replace some of my crappy subprimes with something better that I can grow with. Chase has literally turned down every CC application I've ever submitted in the the history of ever, despite the fact that they gave me a $30K car loan with no questions asked a few years back, which I paid on time every month and paid off completely about 3 years ago. I've also had checking and savings there for about 12 years.

So I apply for an Amazon Visa and get the whole "we're gonna have to take a closer look, we'll let you know, you'll get a letter" thing which I assume will ultimately be a decline. Cool. So at the same time, I try for a Slate because I think it might be easier. Booyah, approved, but only for $500. Ok, at least I'm in the door with Chase and I can finally get rid of that crappy MIlestone card that I hate.

Card arrives last week, but I forget about it for a few days. Then tonight, I get an email saying I'm approved for the Amazon card, it's on its way, $2500 limit. Yay! So I get home, realize I haven't activated the Slate yet and go online to do so. Website says all accounts are activated. I log into Chase and both Slate and Amazon say Account Closed. I call to ask if this just means it hasn't been activated yet or something, and I'm told that they have CLOSED my accounts. Ummm...what? I literally got an approval email from you people 4 hours ago. You took your time processing my account, which means an actual person likely looked at it. WHY WOULD YOU DO THAT?

She gives me a number to call in the morning for an explanation, but says the accounts will not be reopened. HUH???

So are these going to be reported to the bureaus as closed and ding me even though in reality they were never open for me at all? I'm not sure what I should be asking them for when I call. 

If I was a paranoid person, I'd think they were spying on me when I opened a new checking account with a local CU on Saturday with the intent of getting rid of my bank accounts with Chase. Shady AF.

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Boy, Chase is really weird on adverse action lately.

[Remedios]

Chase is like an abusive parent. Their website ought to include following disclaimer "I love you today, beat you tomorrow. Be quiet, stay in your room, do not provoke me by existing . You dont have to do anything wrong, I just have to think that maybe you will. Know your place, consumer" 

[Kforce]

Closed my Chase accounts 10 years ago, don't miss them at all.

Lots of CC fish in the sea.  

[Anonymous]

Chase has been doing a lot of such shutdowns this month, possibly starting around the end of last month. Basically whenever Chase sees you as "risky" according to their definition, they close all your credit accounts with them. The common reasons include:

• Not enough credit info on file
• The accounts on your credit report have not been open long enough
• Too many accounts opened
• Too many requests for credit or/reviews of credit
• Too many inquiries

Be advised that this month Chase has been reportedly doing such shutdowns more than ever. You can find a lot of recent reports from FlyerTalk and other forum/blogs. Probably the only thing a Chase cardmember can do is to simply avoid applying for multiple cards in a short period, and keep the number of accounts opened in the last 24 months to a minimum.

[Anonymous]

All this kind of makes me glad, really, that the 2014 BK in which I burned Chase debars me from trying for any cards from them until 2024. I really don't want to have to deal with the stress of wondering if they would shut down my account out of the blue.

[Anonymous]

@plyrstar93 and @abcd2199 are spot on.

Another thing, particularly a dual application with Chase cards can lead to a manual review by Chase’s risk management team where new inquires and new accounts are frowned upon. The RM team are not particularly helpful or nice and the responses you get are tantamount to “It is what it is.”

The industry is experiencing an increase in defaults and Chase seems to be paying more attention than other banks. The way they go about combatting potential risk is swift and absolute. It bugs me that they don’t just deny the approval. Is their team not efficient enough to catch it before it’s approved? It almost seems like they want to ding your AAoA on purpose.

Personally, I hate it. It’s impersonal and they give you little to no recourse. It doesn't make me want to build a relationship with Chase.

Check this out if you’re so inclined. It can provide some insight into how banks think though it may not be directly related to what happened in this thread:

http://ficoforums.myfico.com/t5/General-Credit-Topics/Bust-Out-Score/td-p/5116259

[Anonymous]

Yeah, I burned chase for 2 student loans and a card about 5 years ago, and have no interest in trying to get back with them because of reasons like this. Even though both are set to age off this year, I know that if I applied through chase again, they’ll remember. They’re like an elephant.

Plus, IMO, there are sooo many other great banks out there. I’m a huge fan of credit unions and they tend, in my case, to be more flexible and personable. Chase seems like the mean kid on the playground with a ball.. will only play with you until you mess up. Then it’s a “no” forever after that.