Continuing on with Chase shutdown week, this reader was shut down earlier this week (seems like a mass audit happened lately with Chase.) Anyway, it was actually the reader’s spouse that got shut down. Initially, the reader thought it was due to sudden spend on one of their Chase cards, but ultimately, they called in and it was because like many others, “too many new accounts opened.” How many you ask? Well 16 last year (none of them were Chase.) The spouse had 2 Chase cards at the time – the longest credit card ever and a 4 year old Chase card. We think what put eyes on the account was high utilization on other cards when Chase did a soft pull.
The reader’s husband then called in to Chase one more time to plead their case. It was a 20 minute phone call basically saying how great a customer he had been, no late payments, very long history, how great Chase was, and asked to have a second review of the account. After a day or two, the accounts had been miraculously reinstated.
It is possible to have your Chase accounts reinstated. I know 3 other readers who tried this and were NOT reinstated. I also know of another reader who was re-instated. I think overall your success rate of reinstatement may be less than 20% (just depends on the circumstances.) However, the best course of action is to not get into that situation in the first place is to not put eyes on your account either due to ramp up in spend, applying for a Chase card, or high utilization on ANY credit cards.