Chase closed account

Anonymous · ‎08-13-2018

I got a letter today from Chase, they closed my account. Reasons: Too many accounts opened recently. Too many requests for credit or reviews of credit. The accounts on your credit report have not been open long enough.
Tried recon to no avail. They said this is permanent and not reversible. She said I could apply again in the future when my other accounts mature. Dang I just received a CLI from them 2 weeks ago, now they closed my account lol.
One thing I think triggered my account into review was I tried to apply for a CSP with the green check, offer selected for me. I think that made them look into my account and see all the recent inquiries and accounts.
Data points: Scores 700-730 across 3 CRAs. Probably 7-8 inquiries since that Chase card was approved for. 2 new accounts showing up. Credit util overall: 2% Always used the card responsibly, even got a good auto CLI from them 2 weeks prior. $2.40 balance with them when closed. Oh well, doesn't hurt me, their loss. Makes me want to stay away from Chase.

Anonymous · ‎08-13-2018

Sign to slow things down, join the gardening club and allow your accounts to grow and age, don't know what you're trying to achieve but 10 cards (11th with CSP) in 12 months is a lot and unnecessary for someone building new credit. Credit building is not a sprint.

Anonymous · ‎08-13-2018

OP, this is a sign that you need to slow down.

You have snagged some pretty top-tier cards, so I would let them age for about 6 months to a year. Chase is as skittish as Barclay's, which will be their downfall. Just you watch.

Remedios · ‎08-13-2018

@Anonymous wrote:
OP, this is a sign that you need to slow down.

You have snagged some pretty top-tier cards, so I would let them age for about 6 months to a year. Chase is as skittish as Barclay's, which will be their downfall. Just you watch.

No, it wont.

Anonymous · ‎08-13-2018

@Remedios wrote:
@Anonymous wrote:
OP, this is a sign that you need to slow down.

You have snagged some pretty top-tier cards, so I would let them age for about 6 months to a year. Chase is as skittish as Barclay's, which will be their downfall. Just you watch.

No, it wont.

+1 I guess you are right. It still annoying that they do this otherwise decent customers, but I guess it's just bussiness. And we have to accept that.

Remedios · ‎08-13-2018

@Anonymous wrote:
@Remedios wrote:
@Anonymous wrote:
OP, this is a sign that you need to slow down.

You have snagged some pretty top-tier cards, so I would let them age for about 6 months to a year. Chase is as skittish as Barclay's, which will be their downfall. Just you watch.

No, it wont.
I guess you are right. It still annoying that they do this otherwise decent customers, but I guess it's just bussiness. And we have to accept that.

You're missing the point. 11 accounts for somebody whose entire credit history is 11 months is a lot.

With such a short history, there is no way for them to tell if they are dealing with what you called *decent customer* or a bust out fraud waiting to happen.

Anonymous · ‎08-13-2018

Yea guys for sure I already know I hit my limits, have to garden for a while before I even think about applying for anything.

Anonymous · ‎08-13-2018

@Remedios wrote:
@Anonymous wrote:
@Remedios wrote:
@Anonymous wrote:
OP, this is a sign that you need to slow down.

You have snagged some pretty top-tier cards, so I would let them age for about 6 months to a year. Chase is as skittish as Barclay's, which will be their downfall. Just you watch.

No, it wont.
I guess you are right. It still annoying that they do this otherwise decent customers, but I guess it's just bussiness. And we have to accept that.
You're missing the point. 11 accounts for somebody whose entire credit history is 11 months is a lot.
With such a short history, there is no way for them to tell if they are dealing with what you called *decent customer* or a bust out fraud waiting to happen.

In that case, yeah, it makes sense. I overlooked the OP's credit age. I would shut them down, too. Thanks for the clarfication, Remedios.

Remedios · ‎08-13-2018

@Anonymous wrote:
Yea guys for sure I already know I hit my limits, have to garden for a while before I even think about applying for anything.

You have some good cards that will grow.

Lay low for a while and it will be ok.

Medic981 · ‎08-13-2018

I am in the garden until 2020. I too desire a CSP but I have to wait for the 5/24 rule before I can apply. I got a little click happy and probably would be with you if I had applied for Chase early on.