Black and Decker corded drill won't tighten around a bit.

If you open the jaws as large as they will go, there is a screw for fixing. It has a left hand thread!

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If it won't close the only other option you have is to break the outer collar and use a chisel to hit on the exposed jaws inside the chuck. I have detailed instructions in the tip section on how to remove a chuck from these drills. Let me know if you need more assistance.

Just charge battery put bit in and your ready to go.

Could be a dying battery making it not be able to open itself cuz theres not enough juice, try charging the battery and do it or get some wd-40 and spray it around the chuck and let it drip over the bit into it.

I think it is an issue of having to pull real hard with that model. The hex bits stick a lot especially when new or using another brand of bit. Hope this helps a little:)
Farmerbear

hold outside collar on chuck firmly with your hand and reverse drill

give a good coating of oil then clamp chuck in a bench vice or alike and using short bursts with it set in the forward direction to free the chuck

If the problem is with very small bits 1/16" for example, the chuck could be defective in either design or manufacture. I have had this problem with a cordless model FS1800D. Waiting on a replacement chuck.