cancel
Showing results for 
Search instead for 
Did you mean: 

Chase AA coming soon?

tag
newUser0
Established Contributor

Chase AA coming soon?

Something really weird happened to me. I currently have three chase cards - Freedom, Explorer and CSP. The last two are signature with $5K Limit and Freedom has $5.5K Limit (Non-Sig)

 

Recently, from last month, I am nearly hitting very hard on Chase cards. As in, my Total spend is approx $30K/Month on all these cards (All are MS).

 

What happened was few days back (10 days ago) got few orders from staples. It was pending for 2 days, and the charge disappeared, and my available CL was increased. Later, with this new available CL, I purchased some more things and yesterday all of a sudden, the OLD pending charges were reappeared again for both my CSP and United Cards. This action made my Util as follows - 

1. United $7K (Total Charges) of $5K CL and available CL=$0

2. CSP with $4.8K of Total Charges with $0 Available CL

 

Basically, I can see that I have exceeded my CL bit far this time and for the United Card, they borrowed some CL from the CSP.

Just today, I scheduled the payments of some thing like around $1K on each of these cards. But still I need some time to get the remaining balance. 

Will these actions decrease my scores with Chase? Should I transfer all my UR over100,000 ?

 

Thanks for the suggestions.

Message 1 of 27
26 REPLIES 26
NegotiatorRogerSmith
New Contributor

Re: Chase AA coming soon?

Why would you EVER hoard UR points? I xfer the day they're awarded, so if the creditor ever decides to "fire" me as a customer, I'm not at a total loss, or scrambling last moment, or taking my creditor to small claims court like so many others end up doing caught with their pants down.

Message 2 of 27
longtimelurker
Epic Contributor

Re: Chase AA coming soon?


@newUser0 wrote:

Something really weird happened to me. I currently have three chase cards - Freedom, Explorer and CSP. The last two are signature with $5K Limit and Freedom has $5.5K Limit (Non-Sig)

 

Recently, from last month, I am nearly hitting very hard on Chase cards. As in, my Total spend is approx $30K/Month on all these cards (All are MS).

 

What happened was few days back (10 days ago) got few orders from staples. It was pending for 2 days, and the charge disappeared, and my available CL was increased. Later, with this new available CL, I purchased some more things and yesterday all of a sudden, the OLD pending charges were reappeared again for both my CSP and United Cards. This action made my Util as follows - 

1. United $7K (Total Charges) of $5K CL and available CL=$0

2. CSP with $4.8K of Total Charges with $0 Available CL

 

Basically, I can see that I have exceeded my CL bit far this time and for the United Card, they borrowed some CL from the CSP.

Just today, I scheduled the payments of some thing like around $1K on each of these cards. But still I need some time to get the remaining balance. 

Will these actions decrease my scores with Chase? Should I transfer all my UR over100,000 ?

 

Thanks for the suggestions.


THese are pending, or did the old pending appear as actual?  That is, are you really over the spending limit because you miscalculated?

 

There is certainly a slight risk if you went to $30K out of a much lower base.   Generally, the rule of high-volume MS is to redeem rewards ASAP from the credit issuer.   So, IF you have a good place to redeem the UR (such as you are planning a flight on United in the future) probably good to do so.   But it's impossible to know the risk.  If you plan to redeem for cash anyway, then of course doing that makes sense, but if you are using UR for transfer, you would lose value redeeming for cash, or for putting them in a program that you end up not using.

 

 

Message 3 of 27
longtimelurker
Epic Contributor

Re: Chase AA coming soon?


@NegotiatorRogerSmith wrote:

Why would you EVER hoard UR points? I xfer the day they're awarded, so if the creditor ever decides to "fire" me as a customer, I'm not at a total loss, or scrambling last moment, or taking my creditor to small claims court like so many others end up doing caught with their pants down.


Well, hoarding UR/SPG/MR makes more sense than hording cash equivalents (TYP/Barclays etc) if the user wants the flexibility of where to redeem.  But yes, probably not worth doing if also doing a MS ramp up!

Message 4 of 27
B335is
Moderator Emeritus

Re: Chase AA coming soon?

Does the income you used on your applications match your spend?  If those numbers are way off, I would tread carefully.

Message 5 of 27
eagle2013
Established Contributor

Re: Chase AA coming soon?

You need to transfer your UR points immediately. Given your heavy MS (which, is okay in moderate doses) you need to be prepared for an AA, even if it doesn't happen right now.
Message 6 of 27
newUser0
Established Contributor

Re: Chase AA coming soon?


@NegotiatorRogerSmith wrote:

Why would you EVER hoard UR points? I xfer the day they're awarded, so if the creditor ever decides to "fire" me as a customer, I'm not at a total loss, or scrambling last moment, or taking my creditor to small claims court like so many others end up doing caught with their pants down.


I currently don't have any travel plans to redeem. But you may be right, in my risky behaviour, I need to be very careful.

Message 7 of 27
newUser0
Established Contributor

Re: Chase AA coming soon?


@longtimelurker wrote:

@newUser0 wrote:

Something really weird happened to me. I currently have three chase cards - Freedom, Explorer and CSP. The last two are signature with $5K Limit and Freedom has $5.5K Limit (Non-Sig)

 

Recently, from last month, I am nearly hitting very hard on Chase cards. As in, my Total spend is approx $30K/Month on all these cards (All are MS).

 

What happened was few days back (10 days ago) got few orders from staples. It was pending for 2 days, and the charge disappeared, and my available CL was increased. Later, with this new available CL, I purchased some more things and yesterday all of a sudden, the OLD pending charges were reappeared again for both my CSP and United Cards. This action made my Util as follows - 

1. United $7K (Total Charges) of $5K CL and available CL=$0

2. CSP with $4.8K of Total Charges with $0 Available CL

 

Basically, I can see that I have exceeded my CL bit far this time and for the United Card, they borrowed some CL from the CSP.

Just today, I scheduled the payments of some thing like around $1K on each of these cards. But still I need some time to get the remaining balance. 

Will these actions decrease my scores with Chase? Should I transfer all my UR over100,000 ?

 

Thanks for the suggestions.


THese are pending, or did the old pending appear as actual?  That is, are you really over the spending limit because you miscalculated?

 

There is certainly a slight risk if you went to $30K out of a much lower base.   Generally, the rule of high-volume MS is to redeem rewards ASAP from the credit issuer.   So, IF you have a good place to redeem the UR (such as you are planning a flight on United in the future) probably good to do so.   But it's impossible to know the risk.  If you plan to redeem for cash anyway, then of course doing that makes sense, but if you are using UR for transfer, you would lose value redeeming for cash, or for putting them in a program that you end up not using.

 

 


Even I was in an assumption till now that A charge should come as pending and stay like this for atleast 1 day and then post as transaction.

These charges, were directly posted as a transaction (NO Pending state).

 

I have scheduled a payment to all 3 of my chase cards. But chase currently allows  me to do only ONE payment per day per card. Will need to wait till tomorrow.

Even if I Billpay from my other banks, it will take 3 days to credit. If I pay from chase, they will credit the payment that night itself, irrespective of whether they take the money from my other bank account or not. Nice feature with chase. This helped me to get some money off my card. In my case, I was able to pay $4K to my cards on last friday at 10:00 PM, where as the money was deducted from my bank on following Monday Night. 

 

Will see tomorrow, if my CL bounce back.

Message 8 of 27
newUser0
Established Contributor

Re: Chase AA coming soon?


@B335is wrote:

Does the income you used on your applications match your spend?  If those numbers are way off, I would tread carefully.


No, It's NOT :-(

Message 9 of 27
newUser0
Established Contributor

Re: Chase AA coming soon?

Yeah! will get my points off soon. Thanks

Message 10 of 27
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.