@red259 wrote:
@CreditCuriousity wrote:
@Themanwhocan wrote:
@CreditCuriousity wrote:I think we need a guniea pig.. Someone that Got the Ritz in December craze, that already met there spend bonus and got there rewards, transfer the limit and close the card. I sure wouldn't want to be that GP... Yes alot of speculation, but quite honestly Chase is LOSING money on this type of person, that can't be denied... If you are costing them money then what good are you to them, being a bank? That isn't speculation, that is a fact my friend.
As I stated when I recenty transfered some of my Freedom limit to my CSP I had to be transferered to a SPECIAL dept. They deffinetly did a SP on me.. Policies evolve with time. Yes speculation, but they quite possibly could be figuring stuff out is all I am saying. Anyways, need alot more evidence before anything can be determined of policy change. As stated I had to speak with the Risk Portfolio Dept. to transfer some of my limit, but kept both cards open.. This seems new to me.
I closed my $11,900 CSP last week (8 months old, no usage in past 3 months) and moved the limit to my $6000 Freedom card (15 months old).
I first tried via secure message, and the rep stated I had to leave $500 on the CSP unless I didn't use the card for a month. That made no sense, so I called the number that was provided in the secure message, and got transferred to I assume an underwriter, and I explained that the 1 month didn't make sense, that I had heard it was supposed to be 3 months, and anyways I had made sure not to use it for 3 months... That person reviewed my account, and allowed the complete transfer. Easy peasy lemon squeezy.
CSP spending (from monthly statements):
July $850.90
August $1,688.95
September $742.00
October no statement generated
November $89.88
December $0
January no statement generated
February $0
Alot of people will be fine, you aren't a typical churner that meets the mold. Just speculation there will be issues in the future with the new T&C's along with people that have alot of AF's coming up and wanting to close multiple cards. I can only speculate, but obviously they changed the T&C for reasions. Some people I suspect will be hit with AA others won't such as yourself. Come Nov-Dec I expect to be reading Chase closed my card and I don't understand why threads. Just my opinion though. Hey I am all about signup bonuses and make that clear, but when I apply for a card, I plan on keeping it more then a year and not closing and rolling into other cards just to keep the CL's and no AF's or lower ones. Anyways, time will tell if policies are changing (which they are by the T&C's) and more action will be taken.. This i don't know, but can only speculate on.
I think Chase will be looking for a pattern before taking this action. Likely the people they focus on, if anyone, will be the people who have opened several cards with AFs and cancelled before the AFs hit. So people newer to the game likely will not have a reason to worry as Chase would expect some people to cancel cards after trying them out for a year. It would be silly for Chase to take AA against someone who has opened and closed 2-3 AF cards (unless they do so immediately after earning the signup rewards), because that would be a loss of potentially a good customer.
As stated before, I'll be keeping 2 out of my original 4 AF cards. Which 2 is up to Chase/JPM. 
@Anonymous wrote:
@red259 wrote:
@CreditCuriousity wrote:
@Themanwhocan wrote:
@CreditCuriousity wrote:I think we need a guniea pig.. Someone that Got the Ritz in December craze, that already met there spend bonus and got there rewards, transfer the limit and close the card. I sure wouldn't want to be that GP... Yes alot of speculation, but quite honestly Chase is LOSING money on this type of person, that can't be denied... If you are costing them money then what good are you to them, being a bank? That isn't speculation, that is a fact my friend.
As I stated when I recenty transfered some of my Freedom limit to my CSP I had to be transferered to a SPECIAL dept. They deffinetly did a SP on me.. Policies evolve with time. Yes speculation, but they quite possibly could be figuring stuff out is all I am saying. Anyways, need alot more evidence before anything can be determined of policy change. As stated I had to speak with the Risk Portfolio Dept. to transfer some of my limit, but kept both cards open.. This seems new to me.
I closed my $11,900 CSP last week (8 months old, no usage in past 3 months) and moved the limit to my $6000 Freedom card (15 months old).
I first tried via secure message, and the rep stated I had to leave $500 on the CSP unless I didn't use the card for a month. That made no sense, so I called the number that was provided in the secure message, and got transferred to I assume an underwriter, and I explained that the 1 month didn't make sense, that I had heard it was supposed to be 3 months, and anyways I had made sure not to use it for 3 months... That person reviewed my account, and allowed the complete transfer. Easy peasy lemon squeezy.
CSP spending (from monthly statements):
July $850.90
August $1,688.95
September $742.00
October no statement generated
November $89.88
December $0
January no statement generated
February $0
Alot of people will be fine, you aren't a typical churner that meets the mold. Just speculation there will be issues in the future with the new T&C's along with people that have alot of AF's coming up and wanting to close multiple cards. I can only speculate, but obviously they changed the T&C for reasions. Some people I suspect will be hit with AA others won't such as yourself. Come Nov-Dec I expect to be reading Chase closed my card and I don't understand why threads. Just my opinion though. Hey I am all about signup bonuses and make that clear, but when I apply for a card, I plan on keeping it more then a year and not closing and rolling into other cards just to keep the CL's and no AF's or lower ones. Anyways, time will tell if policies are changing (which they are by the T&C's) and more action will be taken.. This i don't know, but can only speculate on.
I think Chase will be looking for a pattern before taking this action. Likely the people they focus on, if anyone, will be the people who have opened several cards with AFs and cancelled before the AFs hit. So people newer to the game likely will not have a reason to worry as Chase would expect some people to cancel cards after trying them out for a year. It would be silly for Chase to take AA against someone who has opened and closed 2-3 AF cards (unless they do so immediately after earning the signup rewards), because that would be a loss of potentially a good customer.
As stated before, I'll be keeping 2 out of my original 4 AF cards. Which 2 is up to Chase/JPM.
If this really becomes a major problem then I would consider paying the AF for one year and then cancelling, although there is no way I will be keeping a card of no use to me beyond that.
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