I have (or I should say had) a Chase Freedom Visa card. I only had same for about a year and unfortunately became really behind in payments...the minimum payments became way too much. They uiltimately closed my account after being 90 days deliquent. I am recently able to pay a larger sum to finally bring my account current & under the credit limit however they are saying they cannot re-open this account. Supposively, it is there rule for over 60 days late, which I do not understand if I am able to bring the account current. Has anyone had any luck with getting Chase to re-open an account in a situation similar to this? Thanks!
They probably charged off your account and sent it to a collection agency. You will have to deal with the collection agency. As far as Chase is concerned you are on their shitlist, and will never again, in the near future, get another card from them
Once an account is "closed", it cannot be re-opened. I had an occasion years ago to call a credit card vendor and tell them that it looked like I wouldn't be able to make any payments for a while for whatever reason. Since I wasn't even overdue on the current payment, they offered to suspend the account for a while until i could continue with the payments. This meant I couldn't use the card and didn't have to make payments, but the interest continued to accrue. When I was able to resume payments, I called them and paid up some amount and everything was peachy. At no time was I ever late or behind. When I've had cards or accounts that WERE late, ... well, let's just say I've learned not to trust ANYTHING they say. They'd just as soon cut you off at the knees as slap your wrist. I was talking with some collegues at work about this today, how so many banks and mortgage underwriters are filing BK now because of the sub-prime mortgage markets. They could easily resolve the problems by simply renegotiating the loans with the current debtors. But NOOOOOooooo! They not only have to force the mortgage holders into BK (if they can even file now) and repo their homes, but they're going to take a bath reselling the home and writing off the losses! For anybody here who remembers the S+L debacle of the 80's ... this sub-prime mortgage situation looks eearily familiar to me. How about you? The Govt "bail-out" with the S+L's was to wish 'em well as they slipped into BK, and consolidated all their properties into this mammoth entity called the "RTC", who's job was to sell a huge portfolio of prime real estate holdings at around five cents on the dollar.
