Chase Strategy

[Anonymous]

Hey Guys,

First off this site has been great, I have learned a tremendous amount over the past few months.  I have a pretty obscure question for you all.

I had a Chase card (1331) that I opened in 2008 that I balanced transferred to a Chase Sapphire card in September of 2011, and I sock drawered the card.  I melted on the Chase Sapphire, and it was charged off in 2013 (DoFD 10/12) for about $4K.  I figured I would never have credit again, so I did not check my credit report until I, out of the blue, applied for an unsecured card last December and was approved.  Now I am moving in the right direction and have seen substantial increases in my scores, BUT I think there is a critical mistake on my report.

The 1331 card also showed a charge-off in 2013.  I called Chase a few weeks ago and requested the statements, and the statements indicate the account paid in full in September of 2011, but in August of 2013 there is an "overdraft" to my checking account on the account which I think is a mistake.  At no point did I use this account for anything, nor do I think I even had access to it.  I do not remember if I officially closed it or not but, clearly it wasn't being used for two years.  I do all of my banking with Chase (pretty stupid to burn them...) and had an active overdraft line on my checking account separate from 1331.  Nothing was ever added after the $100 so with Fees and Interested the charge off was $304.

Now I may have screwed myself because before I did comprehensive research, I paid in full the $304 because it was a relatively small amount of money and I felt that it was a way to improve my situation.

So, what should I do?  Thank you all in advance.

[gdale6]

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@Anonymous wrote:

Hey Guys,

First off this site has been great, I have learned a tremendous amount over the past few months.  I have a pretty obscure question for you all.

I had a Chase card (1331) that I opened in 2008 that I balanced transferred to a Chase Sapphire card in September of 2011, and I sock drawered the card.  I melted on the Chase Sapphire, and it was charged off in 2013 (DoFD 10/12) for about $4K.  I figured I would never have credit again, so I did not check my credit report until I, out of the blue, applied for an unsecured card last December and was approved.  Now I am moving in the right direction and have seen substantial increases in my scores, BUT I think there is a critical mistake on my report.

The 1331 card also showed a charge-off in 2013.  I called Chase a few weeks ago and requested the statements, and the statements indicate the account paid in full in September of 2011, but in August of 2013 there is an "overdraft" to my checking account on the account which I think is a mistake.  At no point did I use this account for anything, nor do I think I even had access to it.  I do not remember if I officially closed it or not but, clearly it wasn't being used for two years.  I do all of my banking with Chase (pretty stupid to burn them...) and had an active overdraft line on my checking account separate from 1331.  Nothing was ever added after the $100 so with Fees and Interested the charge off was $304.

Now I may have screwed myself because before I did comprehensive research, I paid in full the $304 because it was a relatively small amount of money and I felt that it was a way to improve my situation.

So, what should I do?  Thank you all in advance.

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Since you paid them you are highly likely to get another card from them. If you think this might have been an error you can request copies of the bank statements to verify that you received the funds or not. If not you could then make a case to them for a refund of their error.

[Anonymous]

Hey gdale,

Thanks for responding.

I did request the statements and after two years of no activity on the account (1331) Chase has a $100 over draft to my checking account.  I feel Chase made an error since I had at the time a separate overdraft credit line and, if I needed it, I would not have used the 1331 account.  I think Chase accidentally had the overdraft come from the wrong account.  The $100 is the only amount that lead to the $304 charge off ($100 to $304 is fees plus interest).

While I would love to have my $304 back the bigger issue is removing the charge off from the credit report.

NB

[Anonymous]

OK, here is the latest update.

I combed through my Chase accounts and confirmed that the separate overdraft credit line was in place in 2013 when the $100 was taken from the 1331 credit card and had plenty of credit to cover the $100.  Yesterday I called Chase, and they are going to look into the matter and come back with an answer within 30 days.  I am not optimistic because the $100 was transferred from the account and I doubt they will be able to explain why it didn't come from the overdraft account.

I am thinking of sending a letter with all of my evidence to Chase.  Do you think this is a good idea?  I am very confident that they made a mistake.

[Anonymous]

OK, update.  On 7/3 I messengered over a file to the JPM Chase headquarters with all of my research - account information, etc.  I haven't heard anything back yet, but this morning I signed into the Chase Credit Journey (Vantage score) and noticed a sizable improvement in my score.  I checked the Account section, and the 1331 account has been removed.  While this is exciting, it has not been removed from my Experian FICO account.  I subscribe to Experian 3-Bureau and have not refreshed to see if EQ or TU, but will in a few days.

What do you guys think, is this a positive?  I think I will call chase to follow up on Friday.

[Anonymous]

Interesting resolution.

So, 35 days after I messengered the package of information to Chase, I have resolved this.  To be as brief as possible (this got VERY complicated) in 2013 my checking was closed due to fraud on the account.  I discovered that Chase incorrectly linked the 1331 credit card as overdraft protection to the new account instead of the LOC that had been connected to the old (closed) account.  Since this happened five years ago, they cannot verify that it was their mistake so will NOT remove the trade line from the account.  I did have a $100 overdraft, and $ from the 1331 account was sent to my new checking.  I would be pissed, but I live in NY so since it is a paid account it falls off in five years.  This is why the Vantage score jumped so much.  It is also off EQ and will be off EX on 9/15.  They acknowledge it seems to be their mistake (100%) so they are returning $204 of the $304 I paid (interest and fees).

I was very impressed with the diligence of the two women with whom I worked, they both spent a lot of time looking into the issue, further they were very polite and professional.

Takeaway: do not expect success from PFD or Goodwill Deletions from Chase.  I showed an incredible amount to evidence that showed they were wrong (plus it was paid) and they acknowledged I was most likely correct.  While not breaking news - always check the statements of every open account even if you haven't used the account for years.  That is 100% on me...

[Anonymous]

CONGRATULATIONS!

Good info. Wise advice... "always check the statements of every open account even if you haven't used the account for years"

[gdale6]

Once you receive the refund check, make copies of it and any correspondence then deposit in a different bank (if you have other accounts), once you are sure the check has cleared file a BBB complaint to get the account removed using all the evidence you have.