CHASE FREEDOM CLOSED!?

[TRC_WA]

Soooooo glad I'm not a Chase cardholder.  

I actually did did bank with them prior to moving to BECU 2 years ago.

[Anonymous]

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@CreditCuriousity wrote:

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@Anonymous wrote:

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@CreditCuriousity wrote:

I am not reading anything in the update T&C saying GC's are abusing the system.. Skimmed through it completely... Opening and closing the account just for bonus purposes and such thing are or moving UR's points 3rd parites and stuff like that, but no mention how a little $50 GC could or would cause this.. Unless they are looking for reasons to close accounts..  Bottom line what I have read is if you meet the bonus and stop using your card al together you might have AA.

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So, um..

If I open 5 Chase cards, Meet the spend on them one by one by using one until the spend is met and moving on to the next, I can be subject for AA? Even if it's only until such spend is met?

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At least on your Freedom and CSP .. Yes!  If you read the new T&C on the freedom and chase on article i linked they were updated.....  

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I see, I've been neglecting my CSP a bit since I got the Marriott and Ritz, And I haven't spent a dime on the Freedom in 2 weeks. I guess I could do a loop-d-loop BT onto it (Chase -> CapOne -> Chase) and then buy some Trident.

[Anonymous]

Well.. Just another unfortunate update to make me pull my hair out some more. I spoke on the phone with a representative and was told the exact same thing over-- "We put a red mark on your account which led to a live conference with our analysts and we decided due to the $50.000 gift card purchase, which was against the terms and conditions you agreed to, we terminated your account and your card is no longer active. On the bright side, you can re-apply after 2 years for the Freedom card again!" 

I hung up immediately after I heard that. Off to the website I go-- They will not get another cent from me. That's it. 

[Anonymous]

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@Anonymous wrote:

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@CreditCuriousity wrote:

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@Anonymous wrote:

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@CreditCuriousity wrote:

I am not reading anything in the update T&C saying GC's are abusing the system.. Skimmed through it completely... Opening and closing the account just for bonus purposes and such thing are or moving UR's points 3rd parites and stuff like that, but no mention how a little $50 GC could or would cause this.. Unless they are looking for reasons to close accounts..  Bottom line what I have read is if you meet the bonus and stop using your card al together you might have AA.

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So, um..

If I open 5 Chase cards, Meet the spend on them one by one by using one until the spend is met and moving on to the next, I can be subject for AA? Even if it's only until such spend is met?

---

At least on your Freedom and CSP .. Yes!  If you read the new T&C on the freedom and chase on article i linked they were updated.....  

---

I see, I've been neglecting my CSP a bit since I got the Marriott and Ritz, And I haven't spent a dime on the Freedom in 2 weeks. I guess I could do a loop-d-loop BT onto it (Chase -> CapOne -> Chase) and then buy some Trident.

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That is why I always have a small balance on all my chase cards.  Statement cut with a balance and let them get their $3 in interest and move on.  I never pay in full before statement cuts.  I only do that with certain lenders.  This is truly scary....

[CreditCuriosity]

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@NRB525 wrote:

And for those who are singing the praises of Chase recently, beware the bear. It has changed.

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Yep I forsee some uglyness coming...  Happy holidays ...  Only been a few days and seen more and more accounts of this.. I had one statement cut before I met my spending requirement, wondering when my statement cuts on the 2nd of Jan for the other 100 dollars if I will get axed...  I guess the only thing to do is put some love on the card on the non 5x categories if I want to keep it..

W/regards to moving your CL's around they track that..

[Anonymous]

I havent paid any interest on mine...

[Anonymous]

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@Anonymous wrote:

Well.. Just another unfortunate update to make me pull my hair out some more. I spoke on the phone with a representative and was told the exact same thing over-- "We put a red mark on your account which led to a live conference with our analysts and we decided due to the $50.000 gift card purchase, which was against the terms and conditions you agreed to, we terminated your account and your card is no longer active. On the bright side, you can re-apply after 2 years for the Freedom card again!" 

I hung up immediately after I heard that. Off to the website I go-- They will not get another cent from me. That's it. 

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Sorry this happen to you.  No one deserves this... At least you get the reason why the account was closed unlike others who got the cookie cutter answer..

[chalupaman]

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@Anonymous wrote:

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@Anonymous wrote:

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@CreditCuriousity wrote:

---

@Anonymous wrote:

---

@CreditCuriousity wrote:

I am not reading anything in the update T&C saying GC's are abusing the system.. Skimmed through it completely... Opening and closing the account just for bonus purposes and such thing are or moving UR's points 3rd parites and stuff like that, but no mention how a little $50 GC could or would cause this.. Unless they are looking for reasons to close accounts..  Bottom line what I have read is if you meet the bonus and stop using your card al together you might have AA.

---

So, um..

If I open 5 Chase cards, Meet the spend on them one by one by using one until the spend is met and moving on to the next, I can be subject for AA? Even if it's only until such spend is met?

---

At least on your Freedom and CSP .. Yes!  If you read the new T&C on the freedom and chase on article i linked they were updated.....  

---

I see, I've been neglecting my CSP a bit since I got the Marriott and Ritz, And I haven't spent a dime on the Freedom in 2 weeks. I guess I could do a loop-d-loop BT onto it (Chase -> CapOne -> Chase) and then buy some Trident.

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That is why I always have a small balance on all my chase cards.  Statement cut with a balance and let them get their $3 in interest and move on.  I never pay in full before statement cuts.  I only do that with certain lenders.  This is truly scary....

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That's basically me a lot of the time. Glad I'm not the only one. With store cards and stuff like Amex and Barclays, I'm much more careful though.

[Anonymous]

They certainly DO track that. Did you know they semt me a letter stating the CL changes I made on my Ritz -> Freedom?

[Anonymous]

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@Anonymous wrote:

Well.. Just another unfortunate update to make me pull my hair out some more. I spoke on the phone with a representative and was told the exact same thing over-- "We put a red mark on your account which led to a live conference with our analysts and we decided due to the $50.000 gift card purchase, which was against the terms and conditions you agreed to, we terminated your account and your card is no longer active. On the bright side, you can re-apply after 2 years for the Freedom card again!" 

I hung up immediately after I heard that. Off to the website I go-- They will not get another cent from me. That's it. 

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What sort of gift card?  A Visa/MC/Amex one or a store one?

I guess with the modified T&Cs this counts as "maintaining credit card accounts for the sole purpose of gaining rewards"    But isn't that why almost everyone here gets credit cards.

Trouble is, they have the right to close the account for any or no reason (unless otherwise prohibited) so you cannot easily fight.   MS's file in small claims court for forfeited rewards, but in your case that isn't going to be worthwhile.

Still, if someone NOTICED and cared enough about $50, that is really surprising.   The conference call must have cost more than the $2.50 at stake!