@NRB525 wrote:
@NobodyImportant wrote:I'm not seeing any recent reports of similar closures at other forums.
I guess I'll see what happens in January when I buy $1500 of gift cards at Safeway...
Bwhaahaahaa! I want front row seats to that bear baiting event.
Seriously, you are going to use your Freedom card to buy GC from a grocery store in Q1? That seems exactly the pattern they want.
I was planning on getting some Starbucks reloads in Q1, but now not even certain I will do that. Will see where I am with the Marriott spend requirements first.
Yep and I plan on doing it all in one trip 
The risk analysis is simple: max out the category and profit, while risking account closure; or don't use the card at all (because I can get better than 1% for other spend), don't profit but don't risk either. Clearly I'm better off taking some risk.
I couldn't care less if they close the account. There are two conflicting goals here: I use credit to benefit myself and banks offer it to benefit themselves. There's no middle ground. I'm an unprofitable customer and I expect trouble.
@jsucool76 wrote:So I just looked at the T&Cs of the freedom, in both regular and private browsing (incognito). Nowhere did I see any of these new terms.
It's not specific terms, it is the general reference (earlier link to a Million Mile Secrets blog post) that Chase seems to be looking for ways to remove users who are costing too many bonus points, not putting any money into swipe fees or interest or ongoing profitability. The GC identifier simply becomes a convenient trigger to use to take AA against "unprofitable" customers.
Which is rather unfair, given that several of these folks only just opened their Freedom accounts, got past the minimum spend, and haven't really had a chance to show spend patterns. It's just that combination: high bonus rewards, low Other Spend, and a GC shows up and, Bam, kick 'em to the curb.
@jsucool76 wrote:
@jsucool76 wrote:
@NRB525 wrote:
@jsucool76 wrote:Well I just bought $300 in southwest gift cards....
And I'm gonna buy another $300 pretty soon. xD
Also, all of these posts about accounts being shut down are coming from the Chase Social Media Team, simply to discourage anyone from MS.
I'm thinking not. Remember when you signed up for MyFICO? You identified yourself specifically, these aren't easy accounts to set up.
And you could very well be fine with your GC purchases. There is not a definite identifier yet, just the excuse from Chase on GC.
For perspective: how long have you had your Freedom card? What other mix of non-bonus spend did you run in the last 6 months? The reason for the question is looking for some indication of profitability to Chase, as an innoculation to allow GC purchases.
Was a joke about the posts being from chase.
Also, did any cardholders of these cards mentioned in the million miles secrets post RECEIVE this new version of the program rules and terms? I'm fairly certain they need to notify you when there has been a change, and if they haven't notified you, or presented you with the new terms and rules, they cant hold you responsible for breaking rules you didn't know existed.
Sure they can close your account and cite some other BS reason ,or no reason if they so choose, in which case, as the rules state, "if your account is closed for any other reason (not pertaining to rewards program fraud/misuse) you will have access to, and be able to redeem your points for 30 days from the date of closure"
#QuotingMyOwnPost
After a quick read through of the new program rules, it says the new rules will be available on chase.com/ultimaterewards - Which I am currently unable to access (maybe because I don't have a UR card, but I'm getting:
Thank you for using your Chase card. We are unable to complete your request at this time and suggest you try again later or call the number on the back of your card. We're available to help you any time.
We apologize for this inconvenience and appreciate your patience. )
So, technically they dont need to notify you. Fun Fact.
"We’ll give you notice of other changes to the program or
agreement by posting an updated copy of this agreement at our
website, chase.com/ultimaterewards."
That's not giving a notice, that is essentially screaming something in an empty room and hoping people in another state hear you.
There will be a notification methodology you agreed to. It's a beautiful thing, the boilerplate contract.
This thread is locked and under Moderator review.
~Lexie, myFICO Moderator
