Question About Bank One and Chase

[elboullee]

A recent conversation with a friend got me thinking about something I had totally forgotten about. Back in the late 90's, in my early 20s, I ended up burning Bank One for a few grand.

Is there any chance that Chase could still have that on their books and might hold it against me 25 years later - e.g. lower limits, less frequent CLIs, no access to higher-end cards, etc.?

[Guyatthebeach]

@elboullee,

I know that Chase keeps the data about charge offs and account history.  After I was approved for the Amazon Visa, I asked my banker at Chase about that. He said all the Chase accounts I had ncluded in my bankruptcy was in my banking profile. I was approved for the Amazon Visa for $15,800 with the preapproval on the Amazon website. 

Personally if you are under the 5/24 rule and your CR's are in order, you should check for a preapproval and apply.

I think you will get a decent credit line and any card based on your CR and the fact that the BankOne account was charged off ages ago.

I do miss my One account!

Guyatthebeach

[NoMoreDebt]

Bank One, thats a name I havent heard in a long time. 

[CreditCuriosity]

Yes they would still have records of that in their DB as I was part of the team that converted Bank One data into Chase credit cards system althogh sure it has evolved a ton since.  With that said I doubt they will hold a grudge from that long ago.  

[Curious_George2]

As implied above, yes, there is a definitely a chance Chase has a record of that past default. Chase and Bank One merged in 2004. Both were successful institutions, and this appears to have been a well executed merger. (Jamie Dimon was Bank One's CEO, and he became Chase's CEO 2 years after the merger.) It wasn't a chaotic FDIC-imposed shotgun wedding. I can't imagine Chase would have been unable to obtain 15 years of Bank One's customer records then, and unless they deliberately purged those since, defaults like yours would still be known to them now. 

It always feels rotten to have the "you know about that?!" moment regarding our past mistakes, but banks aren't emotional about these things. As indicated above, I doubt a 30 year old default will weigh very heavily in Chase's credit decisions now. For what it's worth, my highest limit is on a 7-year-old card from a bank that foreclosed on my mortgage about 10 years ago.