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Chase closed account

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Anonymous
Not applicable

Re: Chase closed account

I can't say I'm surprised by this outcome.  Reading through your posting history its clear you were warned several times to stop applying and let your existing accounts mature for a while.  When you were denied for the Citi DC several people told you to garden for a while.  Then when you were approved for only $500 for the Navy GoRewards I specifically told you that such a small approval meant you should stop applying.  But I suppose you had to find out for yourself.

Message 21 of 56
stellar
Established Contributor

Re: Chase closed account

Thank you for having the courage to post the bad along with the good.  The datapoints truly help everyone here.   I think some people should remember that when they post rude, condescending comments as if they've never made a mistake before.  

Message 22 of 56
Anonymous
Not applicable

Re: Chase closed account


@stellar wrote:

Thank you for having the courage to post the bad along with the good.  The datapoints truly help everyone here.   I think some people should remember that when they post rude, condescending comments as if they've never made a mistake before.  


So funny that you should say that. I was cringing as I read some of the replies. 

Message 23 of 56
Anonymous
Not applicable

Re: Chase closed account

Take it in stride.  A learning lesson.  I had a Chase Freedom and CSP.  Closed Freedom, combined limit with CSP.  Felt like I had done it backwards.  So I opened a Freedom Unlimited and eventually shut down the CSP after combining limits.  My FU has a $12k limit and rarely sees more than $35 used.

 

They could easily shut me down after getting an AmEx Magnet with a $20k starting line.  I do only have 3 INQs on any given record and 2 do fall off in spring of 2019.

 

Rejection was once the hardest thing I had to deal with in life.  The credit game has helped me with that fear.

Message 24 of 56
tcbofade
Super Contributor

Re: Chase closed account


@kerplunk wrote:

I don't blame Chase for this decision. It makes me respect them even more for not partaking in statistical high-risk banking behavior. It does, however, worry me in case I ever get into a bad spot financially and need to float by on cards for a while.


Honestly, if you DO find yourself in that situation, Chase is one of the best to be dealing with, IME.

 

It's too long of a story to post, but DW had to carry too high of a balance for a while and was getting balance chased by three or four banks, including Chase....spent ten minutes on the phone with Chase, explained our situation and our pending solution, full credit line was restored immediately.

 

....so don't fear them, but don't "play" them either...

Firco 8 10/01/24: EX 758, EQ 789, TU 779.
Fico 9: EX 765 09/13/24, EQ 776 10/04/24, TU 755 08/15/24.

Zero percent financing is where the devil lives...
Message 25 of 56
Caught750
Valued Contributor

Re: Chase closed account

While I feel for OP it seems that most of these shutdowns come directly from more Chase apps. If you're pushing it with Chase and put eyes on your account (manual review of another app) they may very well shut you down. It seems like if you're pushing an approval through Chase and then app elsewhere, say Amex, it doesn't draw the same attention your Chase accounts.
PERSONAL; Amex | AOD FCU | BBVA | BECU | Capital 1 | Chase | Citi | Discover | Key | NFCU | PSECU | SECU MD | Synchrony | US Bank
BUSINESS; Amex | Citi
F8 Current F8s ~750 Best Ever F8s ~775
TOTAL PERSONAL CL > $350k and TCL > $365k
Message 26 of 56
jdbkiang
Established Contributor

Re: Chase closed account

I always thought carrying a (reasonable) balance with a bank would only make them keep you. Having low utilization and constantly getting new cards means that you’re simply not making them any money, right?






[2/2019]
Message 27 of 56
Anonymous
Not applicable

Re: Chase closed account


@jdbkiang wrote:
I always thought carrying a (reasonable) balance with a bank would only make them keep you. Having low utilization and constantly getting new cards means that you’re simply not making them any money, right?

1. You don't need to pay interest to build strong relationships with banks, many including myself have never carried a balance nor plan to, banks make money other than interest, like swipe fees. Carrying a balance and paying interest should be a necessity, not a choice. (0% offers aside)

 

2. Money did not shutdown OP, it was risk assessment.

Message 28 of 56
Anonymous
Not applicable

Re: Chase closed account

Honestly doesnt bother me guys, just wanted to share this info with all you guys. The app for the CSP was along with the App Spree that I was on. After NFCU card, I stopped applying anywhere. Im at work now, will give some more info when I get home.
Message 29 of 56
jdbkiang
Established Contributor

Re: Chase closed account


@Anonymous wrote:

@jdbkiang wrote:
I always thought carrying a (reasonable) balance with a bank would only make them keep you. Having low utilization and constantly getting new cards means that you’re simply not making them any money, right?

1. You don't need to pay interest to build strong relationships with banks, many including myself have never carried a balance nor plan to, banks make money other than interest, like swipe fees. Carrying a balance and paying interest should be a necessity, not a choice. (0% offers aside)

 

2. Money did not shutdown OP, it was risk assessment.


1. Right, I wasn't saying you NEEDED to pay interest to build the relationship, but I was responding more to someone above who said this made them want to keep a 0 balance with Chase. I'd have thought that carrying a reasonable balance wouldn't cause them to shut you down more than it would make them want to keep you. A reasonable balance should mathematically make the most profitable customer.

 

2. I rarely carry balances myself, so I agree that's the best path, it's just that carrying a balance wouldn't make a bank shut you down. Obviously, this was the case, since OP didn't carry a balance anyway. 







[2/2019]
Message 30 of 56
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