@HiLine wrote:
For those that missed the auxiliary information spread over this thread and given in a previous thread, enharu's case is exceptional because:
1. Chase has a lot of credit exposure with him; he has been a big client for several years.
2. He opened 16 new credit accounts in 2 years with presumably high limits (think 100k+)
3. Chase closed his accounts 6 months ago and put him on a watch list, so any credit action deemed risky by Chase would flag his accounts.
Lacking any of these 3 factors, he probably would not have been treated the way he was. So in general, don't freak out. It is rate to see someone in this situation.
Enharu, sorry to hear what happened to your Chase accounts. I didn't follow the other thread closely, but did you try voluntarily cutting the limits on the Chase to reduce their exposure with you?
Thanks for the recap. Now all is clear.
"When you're fresh meat you kill... and give them something fresher" (Frank Underwood)
@longtimelurker wrote:
@keithB wrote:
@TheClub wrote:
Quick question... Why does Chase keep closing all of your accounts? That's really not a common practice of theirs.. Or is it?Good question... It seems to me Chase would be kissing the ground you walk on, seeing how you are a Palladium card holder.... Something sounds off here :smileyindifferent:
Why? You seem quick to assume (in general if not here) that facts are being withheld!
The same high limits that show enharu is considered an important customer to Chase is also considered a liability by the security/fraud part of Chase, who would probably prefer that the bank gave no-one unsecured credit! So as their exposure rises, they pay more and more attention, and one of the danger signals they look for is searching for, and especially obtaining new credit. Maybe enharu is going to max out the cards and run.
In this case, it is mainly because he being watched closely from the previous incident, and getting even a single new account, even after 6 months, tripped the alarm.
Really, being watched closely? Why? What does Chase have to worry about sooooo much they would put OP in the "max out the cards and run" bucket?
As for Palladium, do they just hand those out to anyone? If that's the case, when my Slate arrives I think I'll call up and PC it into Palladium 
@keithB wrote:
@longtimelurker wrote:
@keithB wrote:
@TheClub wrote:
Quick question... Why does Chase keep closing all of your accounts? That's really not a common practice of theirs.. Or is it?Good question... It seems to me Chase would be kissing the ground you walk on, seeing how you are a Palladium card holder.... Something sounds off here :smileyindifferent:
Why? You seem quick to assume (in general if not here) that facts are being withheld!
The same high limits that show enharu is considered an important customer to Chase is also considered a liability by the security/fraud part of Chase, who would probably prefer that the bank gave no-one unsecured credit! So as their exposure rises, they pay more and more attention, and one of the danger signals they look for is searching for, and especially obtaining new credit. Maybe enharu is going to max out the cards and run.
In this case, it is mainly because he being watched closely from the previous incident, and getting even a single new account, even after 6 months, tripped the alarm.
Really, being watched closely? Why? What does Chase have to worry about sooooo much they would put OP in the "max out the cards and run" bucket?
As for Palladium, do they just hand those out to anyone? If that's the case, when my Slate arrives I think I'll call up and PC it into Palladium
Of course not, where do you get that from? Most large companies have groups with different concerns. Just as marketing sends "pre-approvals" or "invitation to apply"out, because it is their job to increase market share, other groups may deny such applications, because it is their job to prevent potential loss. So enharu is getting his high-value cards because he is a great high-income customer, and they want to make Chase a big part of his spend.
But, a few months ago, a group apparently decided that his behavior was of potential concern and closed his cards. He was able eventually to get them back, but with on understanding that there would not be a lot of new credit being sought. And, because he was basically on probation, this single account (and maybe the lease) was enough for the same group to take the same action.
I don't understand why you find this hard to believe. What is your theory? The whole story is untrue (enharu doesn't have the cards, or they never got closed)? Or he is missing about the bit where he has a $5M charge off, is being investigated for bank fraud? Or what?
Thanks for sharing your story enharu. Glad to see the dealer will remove the inq and cc account. I'd be interested to know if Chanse reinstates your accounts as they said they would consider it. Keep us posted. Sorry about the headache...but hey...at least you have a shiney new toy to keep your distracted from this nightmare 
IIRC, Enharu decreased his cl on his Freedom as a result of the AA 6 mos ago.
ETA: He also lowered his exposure with other lenders