chase closing your account

benjamin77

Level 2 Member
Based on your research or experience 1)What do you think triggers chase to close your acct. 2)How long does it take until they approve a card for someone who was shut down
 

Manspender

Level 2 Member
Chase will close you down if they think you are abusing the program such as MSing too much, churning too much or selling points. When they do close you down, I have read, that it can take many many years until they let you back in the door.
 

PVM

Level 2 Member
I read on flyertalk that some Chase Credit Card accounts were shutdown b/c of depositing MO's into their Chase checking accounts. So first Chase shutdown their checking accounts and then shutdown their Credit Cards's as well.

I've used bluebird to pay my Chase bill a few times after loading it with Visa Gift Cards. Has any one else done that? Is it safe?

On a separate note, what is a safe level to put on my Ink Plus? I've gradually built up its usage over the past year. I'm now at 4 x $500 at 7-11 (@2X) and 10 x $200 at staples (@5X), since staples started selling VGC online. Is this too high to cause unwanted attention? I do put a bunch of other regular spend on it as well...

Regards,
Praveen.
 

Josh F

Level 2 Member
Charity Forum Mod
I've used Bluebird to pay my Chase Bills many times over the last 2 years or so, never had a problem.

My volume is somewhere around $4K/month on the Ink, never had a problem. I know people go much higher as well... However, I try to keep the gas closer to $1K IMO... I don't think there's any hard/fast rules here....
 

salmon51

Level 2 Member
My friend had his chase checking account closed due to MOs, but was able to get it back open by going in-branch and showing them the receipts and his bank statements at other banks (showing that he had purchased the MOs). I have had my chase CCs shut down due to "high amount of new CC apps, lots of credit already extended to me, and large amounts of spending on my cards." Go figure...:p
 

Anh

Level 2 Member
My Chase CCs were closed November last year, the day before Thanksgiving. Such nice timing by Chase. I did not have a checking account with Chase. I was MSing aggressively with the United Select Visa and Ink Bold at that time. At the time of closure I had just opened an Ink Plus so that card survived, but only for another month and it got closed as well.
 

jjangoo

Level 2 Member
My Chase CCs were closed November last year, the day before Thanksgiving. Such nice timing by Chase. I did not have a checking account with Chase. I was MSing aggressively with the United Select Visa and Ink Bold at that time. At the time of closure I had just opened an Ink Plus so that card survived, but only for another month and it got closed as well.
Can you give us some numbers? Everyone has a different view on what's aggressive.
 

Mike

Silver Member
I personally bank with Chase and have a nice amount of my Savings with them, as I feel it gives them confidence that I'm not just "using" them. Just my own $.02 no actual proof that it works.
 

hollywoodms

Level 2 Member
Several years ago I was paying my phone bill $1.00 at a time using my newly acquired Freedom card which offered 20 points per purchase. I then ramped it up and was loading my old "Perkstreet" checking account for the same. I got a few thousand transactions in before they shut me down for "using my card for gambling". I still had my checking account with Chase and it wasn't long after that when I got a few more cards with them. I have been much more conservative ever since.
 

szamboti

Level 2 Member
The article posted says that Pat got her chase accounts closed after a number of conversations with the banks. Has this been the usual signs that Chase is considering closure? Or is it more common that the hammer falls without any notification at all?
 

raccah

Level 2 Member
The Pat story seems to be about using the bank account improperly, which is a known no-no. @Anh, what did u do to piss them of? How aggressive is aggressive?
 

Turnpike

Level 2 Member
Is there any advice on how to go about getting let back in the door with Chase? I was "let go" in May. My current plan is to try to reapply again in June 2015.
 

ctbarron

Level 2 Member
Is there any advice on how to go about getting let back in the door with Chase? I was "let go" in May. My current plan is to try to reapply again in June 2015.
There are few reports on the various forums of fast success. I've seen a lot of reports from people having to wait 10-15 years. Perhaps try opening a bank account with them first, then building from there.

What was the reason for your closure?
 

loves2fly

Gold Member
Is there any advice on how to go about getting let back in the door with Chase? I was "let go" in May. My current plan is to try to reapply again in June 2015.
If it was me, I'd test the waters by opening any of their checking accounts. I will not venture in applying for any of the CCs to avoid the possibility of wasting a hard pull. I'd probably wait 6 months before applying for a new checking or savings account and go from there. First, I will request a chexsystem report to see if there are any derogatory remarks filed by any bank. If my record is clean, that is a good sign for me.
 

Sgnyc

Level 2 Member
As someone who has worked for many "too big to fail" banks inc JP, one of the biggest flags is anything that even remotely looks like money laundering. Lots of cash flying into/out of/through an account, cash coming from "unusual" sources could set off flags leading to account closure. There is also the basic premise that they are not in business to lose money on accts... Hope this is helpful...
 

pillow25

Level 2 Member
I nearly got closed for depositing ~5k of MO in 2 days. They had trouble verifying some of the MOs and sent me a nicely-worded letter that my account would be closed. Only after 2 customer service phone calls, a branch visit (where I had to bring all the MO receipts - KEEP GOOD RECORDS) and 7 days was I able to keep my account open.

Mind you, this was a relatively new account (I do all my main banking with another well-known bank), so that may have an affect. In all cases, I think that what others have said about large MO amounts and anything that looks like money laundering is accurate.
 

andysiz

Level 2 Member
As someone who has worked for many "too big to fail" banks inc JP, one of the biggest flags is anything that even remotely looks like money laundering. Lots of cash flying into/out of/through an account, cash coming from "unusual" sources could set off flags leading to account closure. There is also the basic premise that they are not in business to lose money on accts... Hope this is helpful...
I think this post hits the nail on the head.

On one side, you have people getting shut down for perk abuse (from what I gather, mostly people who abused the 5% on Chase AARP card and the 10 points per transaction benefit on the Freedom, and some others who transferred UR points to other non-spouse UR accounts). Sometimes these closures are limited to the particular accounts you were abusing.

On the other side, you have the much more sweeping closures of all of one's accounts triggered most likely by anti-money laundering flags. As one can glean from public sources, federal agencies in general have been making big pushes to beef up AML enforcement in recent years. JPMorgan Chase itself was fined a total of over $2 BILLION recently based on inadequate controls and procedures relating to AML. So yeah, Chase (and other financial institutions) are quite sensitive to possible money laundering activities. It appears that Chase is much more aggressive than others in how they enforce it. And as @Sgnyc correctly points out, untraced money movements like cash and money orders are definitely money-laundering red flags, all the more magnified if the volume of money going in and out of accounts exceeds income.
 

purcitron

Level 2 Member
ive had an amex financial review. shut down. still trying to reapply.
used MS chase aggressivelly (200k/yr... not a lot for some MSers). still MS, but less than 10k/mo.. spread it over other banks.
 

Anh

Level 2 Member
ive had an amex financial review. shut down. still trying to reapply.
used MS chase aggressivelly (200k/yr... not a lot for some MSers). still MS, but less than 10k/mo.. spread it over other banks.
Did they shutdown all your Amex? That seemed strange. Normally they would just slash your limits and close your business accounts (if you have no business)
 

purcitron

Level 2 Member
Did they shutdown all your Amex? That seemed strange. Normally they would just slash your limits and close your business accounts (if you have no business)
i had 2 personal accounts. both shut down. ive read about similar experiences.
 

Anh

Level 2 Member
i had 2 personal accounts. both shut down. ive read about similar experiences.
Did your income (as reported on 1040) have significant discrepancy compared to what you report to Amex when you submitted the application?
 

purcitron

Level 2 Member
yes, but didnt have chance to even send the 4506 to amex as i was on an award trip around the world :)
 
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