topic Re: What happens to Chase Freedom Rewards if they close account? in Credit Cards

What happens to Chase Freedom Rewards if they close account?

Anonymous — Sat, 25 Jul 2009 02:22:03 GMT

I have been reading about all the WAMU to Chase cards being closed. PC'd my WAMU to Freedom Plus.

I am curious what they do to your accumulated rewards upon closure? Do they vanish? Do they apply to balance?

My account is still untouched, but I am just about to the $200 (to get the $50 bonus) and would be really annoyed to find out that if they closed the account they zapped the rewards without consideration.

Anyone got the scoop on this?

Re: What happens to Chase Freedom Rewards if they close account?

wmarat — Sat, 25 Jul 2009 02:26:22 GMT

Forfeited.

Re: What happens to Chase Freedom Rewards if they close account?

Anonymous — Sat, 25 Jul 2009 02:28:49 GMT

Now that would get me a little heated, if they closed and forfeited my rewards for anything short of default.

Re: What happens to Chase Freedom Rewards if they close account?

wmarat — Sat, 25 Jul 2009 02:30:34 GMT

Cash it out now.

Re: What happens to Chase Freedom Rewards if they close account?

score_building — Sat, 25 Jul 2009 02:35:57 GMT

@wmarat wrote:
Cash it out now.

rewards have to be cashed out as frequently as possible these days.

Re: What happens to Chase Freedom Rewards if they close account?

Anonymous — Sat, 25 Jul 2009 02:37:34 GMT

I'm at $173. They only let you take $100 or $250 ($200 plus $50 bonus).

Chase is sending me tons of the "We'll give you $125 to open a checking." I wonder if opening a checking and linking it to CC gives me any better treatment down the road.

So far nothing adverse or news, but from what I'm hearing they don't forewarn.

Re: What happens to Chase Freedom Rewards if they close account?

Anonymous — Sat, 25 Jul 2009 04:33:55 GMT

Open up as many accounts as you want, I doubt you will be better treated. Different divisions of a demented company.

The rewards will be gone. (POOF!) That will probably be a profit consideration in an upcoming round of account closures. Now you know why I like PenFed's reward system.

Re: What happens to Chase Freedom Rewards if they close account?

mrpeabody — Sat, 25 Jul 2009 16:00:02 GMT

They took all my points that had carried over from wamu. 44000 points Gone. I hate chase. I have 3 other Chase cards, but I won't do business with a company like that. I have $250,000 worth of credit cards so cutting them from my card list will not kill me. The kicker is I also have almost $1,000,000 in accounts with Chase bank. I am moving all my company accounts over to Citi.

Re: What happens to Chase Freedom Rewards if they close account?

score_building — Sat, 25 Jul 2009 16:22:23 GMT

mrpeabody wrote:
They took all my points that had carried over from wamu. 44000 points Gone. I hate chase. I have 3 other Chase cards, but I won't do business with a company like that. I have $250,000 worth of credit cards so cutting them from my card list will not kill me. The kicker is I also have almost $1,000,000 in accounts with Chase bank. I am moving all my company accounts over to Citi.

Ha! and you're a whale to boot, wow. that's nasty-what they did

but out of the frying pan into the soup pot? have you considered local, regional or CU options...

Re: What happens to Chase Freedom Rewards if they close account?

mrpeabody — Sat, 25 Jul 2009 16:36:04 GMT

I do use a local credit union for some things, but with my business accounts, I need some services that often are not available at my local credit union. I am in the wine business and we do a lot of international business. I know Citi can be as dubious as any other bank.

Re: What happens to Chase Freedom Rewards if they close account?

mrpeabody — Sat, 25 Jul 2009 16:37:45 GMT

I am going to visit Chase today. I hope to at least, make my local bank manager cry. If corporate does not care.

Re: What happens to Chase Freedom Rewards if they close account?

haulingthescoreup — Sat, 25 Jul 2009 17:13:25 GMT

mrpeabody wrote:
I am going to visit Chase today. I hope to at least, make my local bank manager cry. If corporate does not care.

Nothing like some pleasant but firm feedback from one of the bigger fish.