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  1. I mistakenly thought the 5/24 rule was 5 Chase cards but it is 5 new credit cards from any bank. I got denied but called and got approved. I only had one other Chase card and that was over 10 years old and used regularly in the past year (but not used much for about 5 years before that).

  2. I’m done with Chase. I never liked them much as a bank, and less so with their stupid 5/24 rule. Yes I missed out on last year’s CSP 100K offer, but more than made up for it with AMEX. I’ve never had a single issue with opening either a business or personal AMEX card, and have on occasion been successful with getting a credit for the AF. With the amazing variety of SPG, Skymiles, Platinum, Hilton Honors, Everyday Preferred, and Business Blue, I’ve racked up close to a half million miles over the last three years. If Chase drops the 5/24, I may reconsider, but AMEX has always come thru for me. And finally, in South America, where I frequently travel, AMEX is the preferred card for merchants, and is more widely accepted there than either MC or Visa!

    • Sorry to hear. If your main grudge is the dreaded 5/24, BRM paper app method so far is 100% approval rate based on my inner circle of 50+ data points.

  3. You want Banks on your side for the “long run”. So, play nice (don’t cancel just after getting the bonus, no major MS, don’t do just bonus categories, don’t do multiple appl same day, pay some annual fee cards, leave some large checking/saving account balance etc. etc.). You both have to profit from the relationship..
    Capitalism rocks when it works for you!

  4. Great post. So many bloggers, particularly titans, have a huge headline and post linking to some AMAZING new offer, but somehow forget to mention The Dark Side where you can lose all of your Chase accounts as a result. I recently brought this up in the comments of a certain titan, but was not given the courtesy of a reply. That pretty much said it all. I certainly don’t mind helping out someone who’s providing me with information. I just want some honesty as part of the deal. My mistake.

  5. Been through three chase shutdowns in my family (2 were reinstated one not that lucky). It’s very inappropriate how they’re operating with this shut off valve. I’m writing to the FDIC and CFPB, I doubt it’ll change anything, but it’s all you can really do.

  6. Got shut down with all the same reasons as yourself. I did ask for the Hyatt fee to be refunded as card was only open for a month. Well, that was quite a shit show in itself. Went to corporate after several very nice reps could do nothing about fee. Finally “Elsie” from executive offices refunded it and oddly sent every word of all my former credit card agreements with the explanation letter for the fee refund.It weighed a good 3 pounds! I may try to re-apply in a few months. Any advice? I am retired and rely on my investments for income.No debt.No mortgage.Oldest card is 6 years.Lots of other products.

    • Did you try to appeal the closure at all? You only mention trying to get the annual fee refunded.

  7. “My monthly statement is usually paid in full before it’s generated. I pay each of my credit cards 4x / month and always in full each time.”

    I actually think this works against you. I’m not saying you should carry a balance in order to avoid a shutdown, but never carrying a balance means that you are not a profitable customer to Chase. Many people bring up this point as a sign of being a good customer, but in the eyes of Chase, this is actually a money loser for them.

    Again, I’m not saying you should carry a balance. I’m just not convinced that paying it off in full is a sign of “good customer” or that it should be used as a bullet point in proving your worth to Chase.

    • Profitability is one thing and demonstrating ability to pay (low credit risk profile) is another. If a customer is being accused of having a high credit risk profile, then you can’t fault the customer for paying on time and in full because that’s not profitable to Chase. The customers who carry a balance are usually the ones that are above the low risk profile. Anyway, the point is that if Chase stated lack of profitability was a driver of the closure (which they will not say for obvious reasons), then he didn’t stand a chance of getting the decision overturned.

  8. I was shut down on hotels.com. About $700 worth of hotels.com reward credit was suddenly cancelled. They have a validity period, and during a span of a few months when I was busy, instead of sending me any warnings about them expiring, the just cancelled them. I called them several times, using several numbers. Their developing country call centers all go to helpless powerless surrogate agents who will not give out any information on their address or direct number in the US. Unethical business dealings. If you would like to warn others with my case, I can provide more details.

  9. Thank you for this article! I discovered I too was targeted while starting a trip (in which I was planning to use a few of my Chase cards) out of the country. Of course I went through every emotion possible, anger, sadness, resentment – thankfully I had a 15hr flight to chill out.

    I took the advice in this post and was very honest. My talking points:

    1) I travel a lot both personally and professionally – I’m a executive for a company which doesn’t issue corporate cards.

    2) I use my card for myself and my employees who might not have the credit or the income to float expenses for our company as well as for large corporate marketing purchases.

    3) Their marketing team is amazing as cards are literally pushed on me every time I turn around.

    4) Lastly, I mentioned that I thought we had a good relationship, so much so that I had actually purchased JPMorgan stock the day before as I believed in them (I didn’t mention because the stock was way down). I will occasionally carry a balance when I’m overseas for long periods of time and can’t get expenses done, so they do make money off of me (before you say anything I do expense interest back), but overall I pay my balances in full every month.

    I could tell the rep was typing as we were talking. The tone of her voice didn’t sound very promising and she said I’d know something in 10 business days.

    My only notification that my accounts were turned on was an email I received from UPS tow days ago that I was receiving a package from Chase priority overnight. I logged into my Chase account to discover all of my accounts were back – some of which even had some good sized credit line increases.

    So, for anyone else in this situation, I’d definitely say – don’t give up!

    Thank you again!

  10. I had all 5 of my chase cards shutdown. My letter stated “rewards misuse.” I had one card that I took out in November with Chase that I forgot to use after getting the bonus. I have been with Chase for a long time. I called and begged to have three of them reinstated, but they refused. I’m now moving all of my savings and checking to another bank. I did like the 3 main cards I used. Does anyone know how likely I am to get approved for the same cards after being shutdown? Do they have a banned for life list or do I just need to wait until I would be okay with the 5/24 rule?

    • In this case, the author transferred out all of his Chase points immediately just in case. Online data points suggest nothing happened to the points in some other people’s accounts.

  11. I was shut down after they offered me two new cards. I applied and was approved. I logged on two days later and all my accounts had been closed. I had only been a chase customer for three months and only with the chase slate. They approved me for the sapphire reserve and freedom unlimited. Upon approval this prompted an audit that resulted in the shutdown. I received my new cards and the letter regarding the shutdown on the same day. The reason was total number of accounts, number of inquiries and number of new accounts. I called chase for a review and 10 days later was declined. I then called the EO office and 10 days later was declined once more. I was nice and stated I appreciated the reviews and help regarding this matter. Two days later I received another call from Chase. The lady on the phone stated she saw where I had requested the reviews and had decided to reinstate my accounts. I was very pleased and extended my thanks again. She stated I would receive new cards and she apologized for the inconvenience. I logged into my chase account and the closed message was gone from each account. I guess the length of time with Chase as a customer doesn’t matter. I also wonder if the way I responded to the closure had anything to do with my reinstatement . I hope my particular case gives hope to any new customer of chase looking to be reinstated.

    • I was offered the Starbucks Chase Visa, instant approval with a tentative balance, then received the final approval with a higher approved amount. The approval letter even started how they determined my dollar limit & % and shows my credit score with items listed from the credit report. I used the card about 4 times, paid it off and even paid the annual $49 fee. Charged a few more times and then my account was closed down. I called and they said the reasoning was because after thorough review of my credit report (they listed exactly the items on the acceptance letter) they decided I’m a high risk so they closed the account. I’m new to the credit card world (other than depot store), this was my 1st actually credit card. This left a bad feeling so I think maybe it’s not for me. To approve and deny using the same exact criteria is ridiculous and hypocritical. Makes no sense.

  12. I was shut down and reinstated a few months ago. Similar situation to the original post.

    I’m definitely not applying for anymore chase cards, but that’s fine as I mostly have the ones I want.

    I’m also now gun shy on applying for cards in general as I don’t want to risk another chase shutdown. I’m a hyatt loyalist so that card is vital to me.

    Anyone know if applying for/opening cards with otherissuers could result in a chase review?

  13. I was shut down after opening 4 chase cards and 2 non-chase in a few months. Shouldn’t have been surprised!.

    I appealed. Pointed to my long history with chase, credit score, income, etc. I was reinstated in 5 days.

    I obviously don’t want to go through that again so will not be opening any new chase cards for a long time.

    I’m wondering though, would opening new non-chase cards put me at risk?

  14. I was shutdown as well. Haven’t applied for a Chase card for over a year, but otherwise LOL/24. Chase must have done routine check and decided to axe me. I called and requested reinstatement and they were nice enough to do so after a week.

    Now that they’ve done a background check of me recently, do you think I might safely apply for a Chase card or two that are not subject to 5/24?

    • If you want to roll the dice…I didn’t get shut down but they rejected me for a card that’s not subject to the 5/24. Haven’t applied for chase since. Plenty of other fish in the sea.

  15. So I had a banking related shutdown that prompted my cards to be terminated/shutdown as well around Christmas of 2016. I had the “unsatisfactory relationship” reason thrown at me. I’m an international businessman and I do multiple wires a month. I did deposit cash here and there but chase is not my primary bank, I do much more with my main bank and never had an issue.

    United and Marriott are go tos so this closure hurt me in my travels for work (in fact I switched to SPG and Delta as a result). I had legacy products like United’s Select card and so forth that I can’t get back.

    Was told if I had shares of JPMorgan/Chase I’d have an ear with the exec board, so I bought some shares, wrote letters and called to only be told “we reserve the right to terminate a relationship with a client” and they sent me my card agreements with that portion highlighted for EVERY card I ever applied for (heavy packet in the mail).

    So I gave up for a while but just last month I thought I’d give it a shot and applied and was denied but I dialed the recon line and to my surprise they told me “you’ve only been denied for CSR because you’ve received a bonus within 24 months. Reapply on (insert date) and you’ll be past it and should be approved”. No mention of my previous history with a chase.

    So I waited and reapplied with a referral link that I had open and never closed that had the 24 month literature (most applications are the 48 month bonus policy) and got approved. Couldn’t believe it. I’ve had the card for a week now, hoping that I don’t get the dreaded re-closing of my card! Please send prayers and positive vibes!

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