Chase has kicked me out...where to now?

[BeEasyMark]

Chase no longer wants me as a customer and closed all of my bank accounts and closed my Chase Sapphire Reserve. They won't tell me why but I know it is because Chase doesn't like banking customers in my industry.

I have opened up accounts at Citi and am an authorized user on a Amex Platinum. My main goal is to accumulate points to transfer to Singapore Airlines.

With Chase not being an option, what combination of Citi and Amex cards should I go for to fill out all rewards categories?

Thanks.

[SG43]

Ouch. I hope I am not a target soon, as my industry is frequently targeted.

I had bad experiences with citi so can't help you there. I've been very happy with My amex platinum, business plus and nfcu flagship. 

[Loquat]

Travel protections aside, you could pick up the Citi Premier. Has a decent bonus at the moment. Only $95 AF and multiplier is 3x on airfare, hotels, gas, grocery store, and dining. Also has a $100 hotel credit when spending over $500 and booking through the ThankYou portal.

World Elite Mastercard so you get some benefits and Singapore is a 1:1 transfer partner.

If you value travel protection then you'll have to look at Amex and none of their cards offer the exact protection as that of Chase but you can get some trip delay/cancellation on a couple of their $450+ annual fee cards.

I'm sure others will chime in with more suggestions.

[K-in-Boston]

If you are in an industry where Chase has deemed you a risk, you will likely encounter the same elsewhere with banking.  Perhaps not mixing banking with credit cards may be a better idea, assuming that your credit card purchases are not explicitly related.

For Amex and Citi, it would simply be a matter of which earnings and perks make sense for your spending and lifestyle.  With Amex, you have all of the chargecards, the ED/EDP revolving cards that can be combined with the charge cards, and Marriott Bonvoy Brilliant (or Business) to choose from.  (Marriott points transfer 2.4:1 to KrisFlyer when you move in 60k increments.)  With Citi, you have Premier and Prestige, as well as Double Cash and Rewards+ that can earn TYPs to combine with them.

[BeEasyMark]

Yes, I didn't consider that my personal banking relationship would be affected by my business accounts being flagged. They closed 4 personal accounts and 8 business accounts of mine. The only relationship I have with Chase now is my auto loan. Now all of my business accounts are with smaller credit unions while my personal accounts are with Citi and BofA.

I'm planning to go for the Citi "trifecta" and then fill in any gaps with Amex cards starting with the Citi Prestige.

[Aim_High]

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@K-in-Boston wrote:

If you are in an industry where Chase has deemed you a risk, you will likely encounter the same elsewhere with banking. 

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Sorry for the Chase closure @BeEasyMark. 

This begs the question for me, though.  What industries do banks have risk issues with, @K-in-Boston ?  I've heard talk of members getting some selected card closures or a CLD here or there since the pandemic started, but this is the first complete shutdown I've read about.  I had no idea this was common. 

[K-in-Boston]

So that we don't get off on the wrong foot in this thread, the industries are usually related to one of The 5 Things We Don't Talk About or certain types of agriculture that may vary by state but may have federal regulations that impact banking.

Edit: A post was removed that went up at the same time I posted this.  See above for explanation.  Thanks!

[FinStar]

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@Aim_High wrote:

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@K-in-Boston wrote:

If you are in an industry where Chase has deemed you a risk, you will likely encounter the same elsewhere with banking. 

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Sorry for the Chase closure @BeEasyMark. 

This begs the question for me, though.  What industries do banks have risk issues with, @K-in-Boston ?  I've heard talk of members getting some selected card closures or a CLD here or there since the pandemic started, but this is the first complete shutdown I've read about.  I had no idea this was common. 

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Something to keep in mind as well, any transactions (or actions) that took place which were flagged by internal algorithms.  So, the industry-type could have been deemed potentially risky with proactive monitoring, but we only know that at this point Chase has decided to end their relationship.  The AA could've been due to reputational risk or other factors.

[FinStar]

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@BeEasyMark wrote:

Yes, I didn't consider that my personal banking relationship would be affected by my business accounts being flagged. They closed 4 personal accounts and 8 business accounts of mine. The only relationship I have with Chase now is my auto loan. Now all of my business accounts are with smaller credit unions while my personal accounts are with Citi and BofA.

I'm planning to go for the Citi "trifecta" and then fill in any gaps with Amex cards starting with the Citi Prestige.

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Was the prior AmEx charge-off situation already settled/fixed?   

https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/American-Express-Charge-off/m-p/5718591

[BeEasyMark]

I think so...previous charged-off Amex accounts have been fully paid removed from my report. The last time I called Amex, they said I should just reapply. I haven't done so because I had a stubborn student loan with Navient with lates on my report. I got an email from Navient's in-house counsel today saying that they will remove the tradeline from my reports! Now my reports are squeeky clean.