Chase closed my account

[Anonymous]

The same thing just happened to me.

I had my card with Providian and had been a great customer for 16 years. (paid off the balance twice and always paid on time.)

I have Excellent credit (so my score says.)

I got NO notice that my card was being closed.
I went into the store yesterday, went to use my card. (with a very low balance on it and a I limit!) and I was declined-twice.

I called Providian, and that is when I was told my card had been canceled! When asking WHY??? They said. "Chase canceled the card and that they had sent me a notice" (Again...I have yet to get any notice!)

Once home, I went off on Chase!!! And got nothing from the rep on the phone. I sent Chase an email, and did get an answer back!

Funny....They told me the same thing they told you!

I thought I was being smart, and not getting several credit cards. (I do not need an Amex. A Master card. A Discover, etc.)

I have two Credit Card. My Providian and my Capitol One. I also have one Dept. Store card.

So...for me being careful and not "over" doing and getting a card from ever offer made-I have now been hurt by Chase.

Them closing my acct. will lower my credit score and w/the way things are now...I am sure I won't be able to get another card if I wanted!

I feel...If Chase took over other card companies. Then they should honor the company they took overs clients! We meet or obligations...When will the card companies be held accountable???r   

[Anonymous]

If your scores were good enough a week ago to apply for other cards it's probably still good enough. I'd app immediately.

[creditwherecreditisdue]

Welcome to the hotforums, toddie! Sorry for your difficulty.

Vee is quite right actually. If your card has not reported yet (end of statement cycle) your score hasn't changed. I would pull your reports and FICO scores and once you are certain of the contents set about replacing that card. You can pull the reports tonight. If you would like some help with card open a new thread of your own and we will be glad to assist you. Beyond that don't dwell on Chase. Best to put them behind you!

[Anonymous]

I like an above poster have had my Chase card since it was Providian. In fact my card was the first credit card I ever received, and it's what I built my credit with. (9 Years Last Month) Anyway in our household we had two cards that were former WaMu cards, one with a credit limit of $5000 (my wife's card) with a balance of $2500, and one with a limit of $1000 (my card) with a balance of $0. Last night my wife went to the store and went to put $30 dollars in groceries on it and it wouldn't work. When she got home from the store she promptly called Chase to find out why and they informed her that the account had been closed. She asked why, because she always sends them at least the minumum, and it's always on time, and they refused to tell her why just saying that a letter was in the mail explaining why. Well it sucks, but no big deal right?

Well fast forward to this morning, I'm on my way to work and stopped at the local gas station cause I needed to put some gas in the tank. I stick my credit card in since it's two days till pay day, and the card gets declined! So I figured instantly that this was the same crap that happened to my wife last night. I used the last ten in my wallet and paid for the gas and then rushed over to work (where I'm a Reliabilty Engineer) and used my office phone to call Chase. It was so sad, they told me they couldn't even access my account because they were doing a system upgrade, and that I should call back in a couple hours. I bet they were doing a system upgrade, more likely they're tired of hearing from ticked off customers.

I really wish I could sue them because it seems like they're very specifically targeting former WaMu customers. If they were gonna do this crap to loyal customers I wish they'd have just closed them when they took over. Everything they did since the transition has been bad.

[creditwherecreditisdue]

gwlejeun -

Welcome to the forums! Very sorry for you difficulty.

If you look around some here you will see that these closures by Chase have effected very many people. Unfortunately Chase can do it. Best thing to do is put it behind you and move on.

Keep us posted on the status of you card.

[Anonymous]

Putting this behind you and moving on will be difficult.

A account closed by creditor looks bad on the credit report. Losing that line of credit counting towards your utilization looks bad. Some people (like me) having average date of card open and longest card history drop significently) Having a closed account with a balance looks bad. etc...

Same situation here. Providian customer--was my 2nd credit card, actually to replace a Chase Manahattan Credit Card when I closed my checking account there (if that tells you how old it is) and they started charged annual fees. Providian became Wamu became Chase. I called Chase after the transition and asked if my card was going to be closed or I would have any problems due to the transition. Due to my great credit and customer history, I was given a lower APR. I also switched to a Chase Freedom account.

Fast forward three months or so and my card was declined. Online everything looks normal. I called and got read the Call Experian Script. When pressed I was told I had too many new accounts. That would be my mortgage and refinance and one new credit card over the last year. Over a decade of never late, usually paid in full, etc..I just paid for an emergency plumber I needed on that card--a week before being closed.Credit score hovering over 700 with lows 705 to highs 720 before card was closed. Dropped 50 points after closure (on transunion only, not reporting on experian FAKO or Equifax yet).

 Seems my account was closed July 5, and a letter (i haven't received) was sent out July 19. The closure has hit my transunion report. I have had two credit cards lower my credit limit due to the closure based on Transunion reports since Monday (one letter on monday and another on tuesday). I can't wait for it to hit experian and equifax so the cards I actually use get higher APRs and lower limits.

I'll put this behind me sure, in the mean time my credit will suffer for a while. I'm glad I refinanced already and don't need a new car or credit card anytime soon. For many, this is a serious blow in an already strapped world.

[Anonymous]

same here...I spoke with a supervisor today because the reasons they gave me for close my account were a joke. I was told to fax a copy of m credit report to them and follow up tomorrow.

[Anonymous]

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@Anonymous wrote:

Putting this behind you and moving on will be difficult.

A account closed by creditor looks bad on the credit report. Losing that line of credit counting towards your utilization looks bad. Some people (like me) having average date of card open and longest card history drop significently) Having a closed account with a balance looks bad. etc...

Same situation here. Providian customer--was my 2nd credit card, actually to replace a Chase Manahattan Credit Card when I closed my checking account there (if that tells you how old it is) and they started charged annual fees. Providian became Wamu became Chase. I called Chase after the transition and asked if my card was going to be closed or I would have any problems due to the transition. Due to my great credit and customer history, I was given a lower APR. I also switched to a Chase Freedom account.

Fast forward three months or so and my card was declined. Online everything looks normal. I called and got read the Call Experian Script. When pressed I was told I had too many new accounts. That would be my mortgage and refinance and one new credit card over the last year. Over a decade of never late, usually paid in full, etc..I just paid for an emergency plumber I needed on that card--a week before being closed.Credit score hovering over 700 with lows 705 to highs 720 before card was closed. Dropped 50 points after closure (on transunion only, not reporting on experian FAKO or Equifax yet).

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May I ask what your card utilization was as well as total utilization before and after closure?  This is getting a bit scary...guess it's time to go put a tank of gas on my old Providian/Chase card to see if it's still open.

Message Edited by VEEnVEGAS on 07-29-2009 02:32 PM

[cobaltnv]

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@Anonymous wrote:

I got the same letter and called them yesterday.  I was able to convince them to keep my account open. Mine was a WAMU account, but I lucked out since the last of my baddies (BK) fell off last month.  When he looked it over, he said he would reopen the account.  Yippee for me! 

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Tigerfootballqueen,

   Congrats on getting Chase to reveres their decision. There have not been many reports on success with this. Not to put a damper on things, but are you sure they are re-opening your old account as opposed to opening a new account for you?  I keep my fingers crossed for you that it is the former! Good luck.

Cheers 

[micsupra]

Hi

why don't you try prosper.com

You can ipply for a loan and pay all those cc bills

I got one loan $3000 to pay wamu $2000