DO NOT apply for Anything with CHASE

[Ragelog]

I am curious as well. They have a reason I am sure hopefully it isn't something popping up on your credit reports. I will keep my accounts so far very new using for Christmas and doing great. This confirms my belief that having a diverse wallet so you're not left hanging if one bank makes a change. Good luck OP share your results.

[FinStar]

As others have mentioned above, something definitely spook them.  We can only speculate on the possible reasons based on other individuals' experiences.  Get in contact with their Portfolio Risk Review department to gain some insight as to the abrupt closure of your CC accounts.  Are your MMA, checking and/or savings accounts frozen or closed as well?

[Anonymous]

NO Manufactured Spending - not necessary, I run several businesses and can find plenty of spending and pay it the minute it is available and a clear charge to pay if it is a business expense.

I sent a friend a Western Union for $250.00 online the other day.

Other then that everything else is the same as always.  Are you going to tell me they shut down $16K worth of credit over one Western Union payment?  and if that was a problem then why not block the transaction or call me and ask if it was authorized?  It's not like I have ever pulled cash off a card or done Manufactured Spending or anything like that ..... this is insanity!

[Anonymous]

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@Anonymous wrote:

I have banked with them since 2008 .... Can't comprehend any of this.  Just my personal checking account maintains a balance of around $7500 for household expenses.  I have a savings account and monye market account attached.  I also have 2 business accounts as well.

I called in but was told the "lending department" was closed and I needed to call during their regular business hours so no I didn't really get to speak to anyone.

Quite frankly, I have used my Slate card and paid it off so many times, I was expecting a CLI - to log in to pay the bill (that is due on the 26th) and find it closed (since yesterday) is absurd!

I have 1 new inquiry from NFCU and no new accounts reporting as my LOC hasn't even shown up yet because they just got the paperwork back like 2 days ago!

Might has well have been paying the minimum balance due all this time because clearly my excellent payment history means nothing!

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I know you are angry but there has to be a reason for it.  Chase will not close an account without a huge red flag.  Do you think they want to loose the money they are making of you? No.  But if the risk is greater and then yes.  One thing I know is that Chase monitors people who deposit lots of cash, money orders etc.  That may not be your case but try to find out why as others have already suggested.  We are all trying to help and that is why the forum is here.  I hope you have a positive outcome when you talk to your personal banker.

[Anonymous]

They did not close out any of my checking accounts however I am waiting for some checks to clear and then ready to hit the transfer button right on over to NFCU.

I am sick of Corporate banks treating customers this way, I have done NOTHING but pay my bills on time and always way more then owed and most often paid in full so what gives?

[Anonymous]

Also, you are not alone!  See this thread from a frequent contributor

http://ficoforums.myfico.com/t5/Credit-Cards/Chase-closed-most-of-my-credit-cards/m-p/2886324#M81974...

He has some very high value cards, like a $100K Palladium from Chase, but they still closed most of the cards because of what they viewed as too much credit searching.   He got them reopened eventually, then closed again for similar reasons, but now I think most are back

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Got First Personal card over a year ago and the Ink cards early Summer .... Only got them when I went into the branch and it would pop up that they had an offer for me .....

At periodic times throughout the year, I have over $100K in just one of the business accounts at a time .... I pretty much give up ...

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So nothing wrong/strange in your bank accounts?  Too many cash deposits/money orders etc?  Although in that case Chase usually closes your bank accounts and shortly after your credit card.

Again the key point is that someone at Chase didn't wake up and say "I know, lets give grayarea37 a hard time today, let's close his cards.  That will be fun!"   They had a reason (which might have been mistaken).  If Chase has any value to you, see what they say and maybe you can get it fixed.

It's NOT Chase being a terrible issuer, they think something is wrong, and probably most other issuers would do the same thing in whatever this situation appears to be.

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No strange cash deposits, no money orders .... business as usual.

Whatever they decided it happened today because they weren't closed last night ....

I will go into the branch and sit face to face with someone.  I just watched them close someone's Freedome account because they felt she had too high utilization on her other cards (not her Freedom card) and so they closed it "as a precaution" .... my utilization is at 11% right now.  I did just put a large order on my NFCU but the payment for it has already been sent in and it is after the statement date so not even sure how they would know that in any terms ..... The Statement reported at $2000+ balance.

It isn't like I have no payment history - I racked up 150,000 points on just one of my Ink cards in like 4 months .... I use and pay and use and pay .... I don't get it.

[SunriseEarth]

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@Anonymous wrote:

Why wouldn't you want an explanation?  Something happened that caused the shutdown and it's in your best interests to find out what

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+1.   if something is wrong on OP's CRs that spooked them, it's definitely in OP's best interest to figure it out, regardless of whether he chooses to keep his business with Chase or not!

[Anonymous]

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@FinStar wrote:

As others have mentioned above, something definitely spook them.  We can only speculate on the possible reasons based on other individuals' experiences.  Get in contact with their Portfolio Risk Review department to gain some insight as to the abrupt closure of your CC accounts.  Are your MMA, checking and/or savings accounts frozen or closed as well?

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All accounts with Cash in them seem to be open and fine.  I am waiting for some checks to clear and if they don't have a positive response in the morning, I will be transferring my money to NFCU where they show me some love.  

I never have less then $50K at BOA on any given day and have 2 different businesses that gross at least $250K a month there and at Chase I almost always have at least $100K parked ..... plus a household account and various other things - between the 2 of them - I am ready to go nuts and need a NEW BANK.  We all work too hard for this money for it to not be appreciated and treated so callously that I couldn't even be notified by email or text or phone - signed up for all 3 .... that really gets me too.

I will probably be down there at 9:00 and report back whatever ridiculousness occurred.  So didn't see this coming

I have recent copies of my credit report as I am trying to remove some of the inquiries so I don't think there is anything I am unaware of and no baddies, never ever a late pay .... just can't even guess.  Literally one new inquiry with NFCU - that's it.

[Anonymous]

Goodness, I am so sorry that happened to you, OP. You should call and find out what happened. Perhaps they can reinstate the accounts once you talk to them and find out why they closed them in the first place and give your side of the story.