Chase shutdown questions

[Anonymous]

I actually had the non-use experience 2 years ago this month.  I had already lowered the CL to $500 on it a long time before they sent me the letter about it.  Same experience with the expiration date / closing.  I picked up a CFU/BOA/AMZN to replace it.  Well, not really but, they were nice grabs at the time and my beginning to make credit work for me instead of the other way around.

As to the 1 active keeps the others active... definitely not with Chase.  Seems to be working with USB though... Can't say w/ Citi though since any time I get my 2K bump on one I have to use it to make it report.

[sarge12]

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@Anonymous wrote:

I actually had the non-use experience 2 years ago this month.  I had already lowered the CL to $500 on it a long time before they sent me the letter about it.  Same experience with the expiration date / closing.  I picked up a CFU/BOA/AMZN to replace it.  Well, not really but, they were nice grabs at the time and my beginning to make credit work for me instead of the other way around.

As to the 1 active keeps the others active... definitely not with Chase.  Seems to be working with USB though... Can't say w/ Citi though since any time I get my 2K bump on one I have to use it to make it report.

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Yes and the Citi cards I have are actually a concern to me because my Costco membership is tied to the Citi Costco, and the only charge on it last year was my membership fee, but my Mother is on that membership so I want to keep the costco membership.

[longtimelurker]

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@sarge12 wrote:

As a follow up, I am including the body of the closure letter, before they transferred my CL...Would you personally consider this Adverse action if the credit limit was transferred to another card and indicating closed by consumer? 

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Almost a philosophical question  ("If AA is taken in the forest and no one hears it.....")!   From the viewpoint of your CR, it's not really AA because people do this themselves all the time.    On Chase internal record, possibly a little, you are a non-user on at least one chase card.

And "actually":   Well, if you hadn't planned to close the card, and you were sort-of forced to, then yes, a type of AA, just with very little consequences.   But then AA such as reducing CL, and restoring it a few months later, is also real AA with not much long term damage.

[Anonymous]

Once a year is like an apple a day. 

[sarge12]

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@longtimelurker wrote:

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@sarge12 wrote:

As a follow up, I am including the body of the closure letter, before they transferred my CL...Would you personally consider this Adverse action if the credit limit was transferred to another card and indicating closed by consumer? 

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Almost a philosophical question  ("If AA is taken in the forest and no one hears it.....")!   From the viewpoint of your CR, it's not really AA because people do this themselves all the time.    On Chase internal record, possibly a little, you are a non-user on at least one chase card.

And "actually":   Well, if you hadn't planned to close the card, and you were sort-of forced to, then yes, a type of AA, just with very little consequences.   But then AA such as reducing CL, and restoring it a few months later, is also real AA with not much long term damage.

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Well, I was a non-user, but the CSR telling me that she can keep it open if I wished, plus transferring the credit limit and saying she would code it as closed by consumer, leads me to think it is not exactly AA, and more just an attempt to figure out how to get activity showing again. Even the letter made it sound like a request more than a demand. I feel that a true AA on the card might not include the option to keep the account open or transfer the credit limit. I also have always thought that there was no advantage to closed by consumer over closed by issuer, but her telling me specifically she would code it closed by consumer leads me to think it might be viewed differently. Both the letter and CSR seemed to be a more friendly tone than I would expect to have in AA.

[sarge12]

I wonder if closed by issuer might would result in future denial for other chase cards where closed by consumer would not? It almost makes me want to apply for another chase card just to find out. I know I have read that as far as a fico score...closed, is closed!

[Revelate]

No not AA. JMHO

Since so many acronyms, CBC vs CBCG is absolutely irrelevant as a notation on your credit report.

Also to be clear it won’t matter to Chase either: they know you weren’t using the tradeline, that is the bigger issue than who took action to close it.

I wanted my Freedom open just hadn’t used it in a while cause Gas and Restaurants were about my only two use cases and went EV and restaurants haven’t been a thing lately so went 1.5 years nearly sans swipe: fixed it!

[sarge12]

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@Revelate wrote:
No not AA. JMHO

Since so many acronyms, CBC vs CBCG is absolutely irrelevant as a notation on your credit report.

Also to be clear it won’t matter to Chase either: they know you weren’t using the tradeline, that is the bigger issue than who took action to close it.

I wanted my Freedom open just hadn’t used it in a while cause Gas and Restaurants were about my only two use cases and went EV and restaurants haven’t been a thing lately so went 1.5 years nearly sans swipe: fixed it!

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I think based on what they said about keeping it open with no changes if I wanted to do that, it just came down to them not wanting to issue the new card only to have it go unused for another 4 years. I guess I will eventually find out if I ever apply for a Chase Sapphire Preferred or something like it. I just have never heard of AA being done with over a months prior notice, nor being told I could keep it open or transfer the bonus. It is just hard to make myself use cards that have less cash back than the Citi DC, and equal cash back to Quicksilver that adds the cash back very quickly and does not have a minimum amount to redeem. I actually like it better having the combined credit limits on the Chase Amazon Prime card, mainly because having a good many cards with over 15000 in credit limits seems to cause future starting limits to be higher. I think it even will not affect my AAoA until it falls off my report if I am not remembering that wrong. Of paticular interest is that the Chase 5/24 norm, lines up with the fact that the notice was sent after 24 months inactivity. I might be reading too much into that but it seems 24 months has some kind of significance with Chase on a lot of things. They sent out an income update request after having the card for 24 months also as I recall to have more current info for CLI's.

[Revelate]

I’m pretty sure the 24 month similarities you noticed are pure coincidence... Chase is pretty sophisticated in terms of data-driven analytics and isn’t prone to flights of fancy in my experience anyway.

[sarge12]

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@Revelate wrote:
I’m pretty sure the 24 month similarities you noticed are pure coincidence... Chase is pretty sophisticated in terms of data-driven analytics and isn’t prone to flights of fancy in my experience anyway.

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OK...good to know. I re-thought that anyway. The notice of the account closure was more likely to have been due to the fact the card expiration date was next month, so they would have needed to send a new card then if it remained open, the fact that it was a little over 24 months since last used was probably coincidence, and may have been done even if it had been 18 months since last used. They likely check for last date used a bit before the card expires and if it has not been used in a long time they send the notice.