Is Chase as bad as they say?

[Anonymous]

I'm gunning for the Amazon Rewards Visa, but I read nothing but bad reviews about it (closed account before first purchase can even be made, CL fluctuations, frozen account for "fraud" prevention with no notice ect) I have also read a few articles here that Chase in general does not like it if you don't spend enough money with them and will close your account if you dont. Is this true or just cases of bad users/exaggeration?

[SBR249]

If you read reviews then most of them are likely to be negative as satisfied users rarely bother to leave feedback. I recently got the Chase Amazon Prime Rewards and I don't feel like Chase is constantly watching me like a hawk. I do think that Chase has a reputation for being a rather conservative lender which could explain many of their behaviors. On the other hand, if you have a good CR and you don't do anything suspicious I don't think Chase will be out to get you. 

Somethings to watch out for:

1. Don't app spree with Chase, even if you app and get one of their cards first. Most people who had their cards closed before their first purchase opened several cards immediately after Chase approved them. Chase does do SPs (sometimes multiple times) in the period after opening an account and they will see that credit-seeking behavior and be spooked. I was lucky enough (fingers crossed) to not be hit by this even though I app spreed 5 cards in the month or two after I got my Chase but had I known about this I would have definitely spread them out or waited a few months.

2. Regarding fraud freezes or "financial reviews", Doctor of Credit has an article with some DPs and trigger behaviors (https://www.doctorofcredit.com/frozen-chase-accounts-due-financial-review/).

3. I haven't really heard much about CL fluctuations except maybe in cases where people carry high balances and their utils are high. Do that long enough and I can see Chase getting spooked and balance chase you down. But if you are PIF and not getting into CC debt I've never heard of Chase just randomly messing with CLs. If anything, a common complaint with Chase is that the CLs tend to not change at all unless you combine CLs with another Chase card. 

4. As for Chase closing accounts for lack of spend, I think Chase is definitely one of those lenders that can get jealous and wants to be your daily driver. Most DPs I've seen for auto-CLI seem to involve sustained high usage (with prompt payments of course). That said, plenty of people maintain Chase cards in the SD. I don't put any non-Amazon spending through my card and I don't tend to spend a ton on Amazon either and I haven't seen any issues so far.

Finally, while I don't know (or even have any DP supporting this) the details of Chase's cobranding agreement with Amazon, it is possible that some of Chase's more stringent underwriting and risk mitigation policies that they may apply for their own core cards may be relaxed for cobranded cards as part of their contract. So you may be able to skate by with the Amazon card on things that Chase would frown upon for their own cards. But this is pure conjecture on my part so don't try taking that to the bank. 

[Anonymous]

Some of the credit card reviews on Amazon make me laugh.

Here's a gem: "Chase had told me they canceled the card, but it really wasn't canceled. They had immediately charged it with a 99 cent activation fee."

Another one: "Then one day, Chase informed me that they would begin charging interest from the date of purchase rather than from the end of the statement cycle."

I've been happy with Chase overall, my only issue being the overseas CSR's. (And HP CLI's lol)

[SouthJamaica]

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wrote:
I'm gunning for the Amazon Rewards Visa, but I read nothing but bad reviews about it (closed account before first purchase can even be made, CL fluctuations, frozen account for "fraud" prevention with no notice ect) I have also read a few articles here that Chase in general does not like it if you don't spend enough money with them and will close your account if you dont. Is this true or just cases of bad users/exaggeration?

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I have the Amazon Prime Visa and find it to be fine for making purchases.

[Anonymous]

I haven't written a positive review anywhere, but I am happy with my Amazon card. The cash back is great and easy. I think a lot of bad reviewers forget to set up autopay or don't read the interest rates or some form of error on their end.

[Anonymous]

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wrote:
I'm gunning for the Amazon Rewards Visa, but I read nothing but bad reviews about it (closed account before first purchase can even be made, CL fluctuations, frozen account for "fraud" prevention with no notice ect) I have also read a few articles here that Chase in general does not like it if you don't spend enough money with them and will close your account if you dont. Is this true or just cases of bad users/exaggeration?

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I think Chase definitely has "levels of comfort" with different customers. I feel that customers that have multiple CCs that apply for a lot of cards tend to get negative attention from them. However, I can only speak from my own experience- they have rewarded my loyalty with several auto CLIs on my Disney, and BT offers almost every month. Its gone from $3500 sl to present 15.5K in about 5 years, but I do feel that they are a conservative lender, so I would not do anything that may upset them (ie doing an app spree). I think they are fantastic lender with great card benefits. Just don't abuse their trust.

[heyryan]

I've had Chase cards for a few years, and I've never had anything but positive experiences with them.

• They gave me cards when my credit was less than perfect
• Gave me an unsolicited, HP-free CLI more than doubling my limit, which I've heard is a rarity
• Didn't seem to mind when I was traveling for work and spending more than my annual salary each year on the card
• Fraud prevention and resolution is top-notch

My only complaints I guess are the 5/24 rule, and refusing to lower APRs, and the latter doesn't affect me so it's a minor quibble.

[arkane]

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wrote:

Some of the credit card reviews on Amazon make me laugh.

Here's a gem: "Chase had told me they canceled the card, but it really wasn't canceled. They had immediately charged it with a 99 cent activation fee."

Another one: "Then one day, Chase informed me that they would begin charging interest from the date of purchase rather than from the end of the statement cycle."

I've been happy with Chase overall, my only issue being the overseas CSR's. (And HP CLI's lol)

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I read that one too and promptly lmao'd. (or technically l'dmao but w/e)

Let's just say Amazon reviewers when it comes to credit aren't exactly the brightest of the bunch. 

[Anonymous]

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wrote:
I'm gunning for the Amazon Rewards Visa, but I read nothing but bad reviews about it (closed account before first purchase can even be made, CL fluctuations, frozen account for "fraud" prevention with no notice ect) I have also read a few articles here that Chase in general does not like it if you don't spend enough money with them and will close your account if you dont. Is this true or just cases of bad users/exaggeration?

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If you're the average credit card user, absolutely not. Chase is just like any other bank. 

The people who visit this site do not represent 'the average' user.  Our credit profiles are vastly different from those who only have 1 inquiry over the last four years, with one credit card opened five years ago, and no other debt or credit within their profile. People with a credit profile similar to this example don't usually have an issue with Chase unless they mistype an address on the application form, or suddenly move right after their credit card is activated. 

Chase does not require one to spend a lot of money on their cards. I had a Chase Amazon Visa (twice actually) between the ages of 18-26, and it was my least used card that would go months without a single transaction; however, no adverse action was taken. 

[arkane]

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wrote:

2. Regarding fraud freezes or "financial reviews", Doctor of Credit has an article with some DPs and trigger behaviors (https://www.doctorofcredit.com/frozen-chase-accounts-due-financial-review/).

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If you look in the comments section, this is what was posted:

For Amazon it was after >90% credit limit utilization on the first statement, approx 40k spent then I got the freeze.
For BA it was <50% credit limit utilization, before first statement even closed and less than 10k giftcards.com spend.

I'm not surprised at all this kind of spending behavior in the first month triggered an interal review. Most likely tripped a bust out alert if nothing else. I mean Chase would be foolish to NOT freeze your account if you let your statement cut at 40k/44k your very first month. That's just begging for trouble. He's lucky he didn't lose either of the cards to be honest.