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Chase Just Cancelled All My Accounts - WTF


Poor Bastard
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The last post in this topic was posted 883 days ago. 

 

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I called them and the lady said she was surprised by the low limit too but they can't raise it for 6 months. I'll never use the card now ever other than putting $50 on it once a year to keep it active until I cancel it in a few years when it won't matter. I asked them if I could cancel it altogether and stop it from ever showing up on my report but they said no.

 

I think for now I'll just stick with my Amex and in a while probably ask for an increase on the personal one to 50K to match the limit on the business one. Wait for a while until Chase's s crewover has less impact.

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I called them and the lady said she was surprised by the low limit too but they can't raise it for 6 months. I'll never use the card now ever other than putting $50 on it once a year to keep it active until I cancel it in a few years when it won't matter. I asked them if I could cancel it altogether and stop it from ever showing up on my report but they said no.

 

I think for now I'll just stick with my Amex and in a while probably ask for an increase on the personal one to 50K to match the limit on the business one. Wait for a while until Chase's s crewover has less impact.

Wait four months and hit the CLI button. Unless there are issues you have overlooked, it would be exceedingly rare to find you unable to get that limit up to $25k in a year. Higher if you give them POI.

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  • 2 years later...

So it was exactly 3 years ago that I started this thread when Chase cancelled my cards. My payment history is still perfect. Anyone want to take a guess on whether I'd be approved if I reapplied? Or is some flag still going to be on there? My current personal cards are Amex, Wells Fargo and NFCU and I'd like to add another.

 

Thanks

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1 hour ago, Poor *Admin and our Terms of Service prohibit profanity* said:

So it was exactly 3 years ago that I started this thread when Chase cancelled my cards. My payment history is still perfect. Anyone want to take a guess on whether I'd be approved if I reapplied? Or is some flag still going to be on there? My current personal cards are Amex, Wells Fargo and NFCU and I'd like to add another.

 

So you just set me up for a late night read (I wasn't tuned in during the original thread dialogue ...).

 

I'll note one thing up front:  I'm a little surprised that you call BS on their stated concern re your 4-year reported credit history at the time.  I may be mistaken, but I expect your $100k+ in Chase CL (including the newly approved, but never activated card) set you up as an extreme outlier.  I might expect any issuer to sit up and take notice, on review.

 

Please understand, I call total BS on their response to that concern.  The most appropriate action would have been to "right size" your lines to adequately meet your monthly spending need while addressing their concerns ... not napalm your accounts.

 

Bear in mind that around 2017, IIRC, was when MS hit the issuer "windshield" .... with a considerable knee jerk reaction by some (and long before some really understood what it was truly about; they just knew if was an aberration and feared it).  Without applying much reason, someone reviewing your account activity may have decided to lump you onto the MS bandwagon and responded accordingly.  Having said that, I'll note that there's already been a lot of speculation to rationalize what happened to you.  Just as with much of that, I'm largely pulling this suggestion out of my ass.

 

------------

 

So, to address your question:  Assuming no nominal credit red flags (utilization is moderate, you're within the 5/24 guideline, outstanding balances haven't been climbing with consistency over the last year or so, etc.), I expect an app for a consumer card would be quickly approved (likely instant approval, unless they've flagged any future app from you for manual review; even with review, you should see prompt approval). 

 

Three added years of superior credit performance should alleviate much of their prior anxiety.  (I presume your scores are now 800's across the board, based upon the prior scores you noted.)

 

Where it comes to an app for a business card, I'm not going to venture a guess.  I don't have any personal experience there and things are generally getting a little freaky with banks in general under COVID-19.  But, as a matter of prudence, I'd suggest apping a consumer card now (if you're even interested in dipping your toe back into their questionable waters, where you're concerned), and then waiting 6 mo before apping another card, personal or business.  (Then again, I'm a "twice shy" kind of guy ...)

Edited by hdporter
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The last post in this topic was posted 883 days ago. 

 

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