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    Non-credit related discussions of general topics

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    • Greetings,
       
      I recently had 11 Chase credit cards closed. Seven were personal, and four were business cards. The combined lines were 186k. The balances on them were 211k. My overall utilization was 55% and overall credit lines were 474k. The credit scores at the time were around 700 each, and average age of accounts was 10 years. I had 22 total accounts.  I was paying close to $3k in interest monthly. A few days before the closures, I added four authorized users on three of the cards. I assume this may have triggered it. In total, I have spent over $15,000,000 on Chase cards in the last 10 years.
       
      In summary:
      -My total open accounts went from 22 to 11.
      -My average age of accounts went from 10 years to 6 years.
       
       
      These are my questions:
       
      1.      What would be the reasons why an institution such as Chase would take would such drastic measures without first discussing any possible issues directly with the customer?
       
      2.      Are there any state or federal regulations that banks need to follow when terminating relationships?
       
      3.      If banks do use rules and guidelines, are these rules and guidelines internal or can they be known by the public?
       
      4.      If the rules are internal, is there any state or federal regulatory agency that reviews the rules to make sure they are legal?
       
      5.      If there is, how can the public know that the government agencies are actually doing their job?
       
      6.      Has any of you had something similar happen to you?
       
       
      Any answers, tips, or comments are greatly appreciated.
      • 42 replies
    • What is the best way to remove inquiries, and also can i remove inquiries with accounts attached??  Please Help!!!!
       
      • 20 replies
    • I discovered fraud on my Walmart store card from CapitalOne and disputed the charges.  They have mailed me a replacement card.
       
      CapitalOne just wrote me:
       
      We do not believe we made these charges.
       
      How should we best proceed to try and recover the monies lost due to fraud?
      • 16 replies
    • I have over 8-9 accounts all in exceptional rating. No lates, no derogatory on all bureaus. 3 are AU’s and 6 are primary. 803 TU and 783 EQ. Looking to get a high balance credit card. My utilization is 0%!!!!Please advise me in right direction 
      • 29 replies
    • I'm trying to decide what step to take next regarding a collection.
       
      I don't think this place is officially a "collection agency", but in doing some research, it seems like an attorney who does a lot of collection, so they are supposed to abide by the FDCPA. However, I am pretty sure that they are violating the FDCPA after looking up what fees my state allows them to charge as a tax lien buyer/holder.
       
      But even if they are violating the FDCPA, and I have written documentation, does it do me much good? It seems like my only options are to file complaints with my state agencies or get an attorney to threaten/negotiate. From what I read, the CFPB would just forward my complaint to this collection place and keep a record of it, not much else.
       
      I feel like a really good attorney could help, but that it would be hard to find a good one who doesn't need upfront payment and charge a lot. I could afford it, but I'm worried about the chance of spending even more money. If the attorney doesn't have success with reducing the debt more than the attorney fees, that is. I feel like it's only worth my time if the attorney could get the debt significantly reduced, and the odds of that are very low, right?
       
      Also, I know I could send something like a debt validation letter, but I feel like they would respond and what good has it done?
       
      I feel like they are probably charging excessive fees to many broke people in my area, which makes me very mad (and they also did something else which upsets me but it's way too hard to prove), but due to some personal circumstances, I don't think I have the luxury of caring about justice for other people or myself, sadly.
       
      So I'm thinking of doing nothing (and letting them collect the unfair fees from me), but I would like input in case I am overlooking something.
      • 10 replies
  • Posts

    • They don't guess numbers. They get them from hacked merchants and gas stations and sell the data on the web.   Back in the very old days (decades ago) stolen cards, usually mailbox thieves, were pretty much the only way card fraud occurred. You are probably relatively young. Well, compared to me anyway.   It's common for AU cards to have the same card number. A few places, like Amex, have different numbers for different AUs. My Chase AU has the same number as me but the Amex differs. However, the chips, and even the mag stripe, on the cards are all different so they can tell one from another from the chips. Sounds like the CSR was confused.   OTOH, it sounds like your memory of the original phone call is getting fuzzy.
    • Shopify Says ‘Rogue’ Employees Stole Data From Merchants
    • Approved for American Express Gold Delta Skymiles! The credit line is only $1,000, but I am glad to finally get back into AmEx. There is a 50,000 mile signup bonus for this card, which will come in handy next year.   I had been trying for a while to get back in, but they always want to pull Experian, which I have not yet been able to get fixed. Well, I remembered that a few years ago that AmEx would pull EQ if you applied for one of the Delta cards, so I froze Experian and they pulled TransUnion instead! Current stats: 757 FICO, 3 inquiries, 23% utilization, AAoOA 2 years and 2 months, oldest account 12 years..
    • I've never had a stolen card before.  All my other fraud issues have been with someone guessing the number somehow.  It never occurred to me that someone had the physical card since I've never had that happen before so it did not occur to me to look for it.  I don't recall what they asked me first time, they may have and I said yes, not thinking about it too hard.  Better would have been for them to ask for the ccv number on the back to prove I still had it (or had previously recorded that number).  The other strange thing I do recall about that call was fact that my wife's card number which I did have in hand was matching my account number even though they insisted her card had to have a different number than mine.  Clearly their records were broken on that one since I had it in my hand with my number on it, not her authorized user number on it.  They sent a replacement for her card, using same number as before for her card that I supposedly already had.
    • Just to be clear:   You dispute with the CRA's when you're hoping to get rid of adverse info that is actually legitimate, so disputing with the creditor isn't helpful.   On the other hand, you dispute REAL inaccuracies with the creditor first, because they're ultimately in the driver's seat in assisting you to get this resolved.  Why would you to go a middle man???

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