Thoughts on Chase card closures

[kdm31091]

I didn't say they shut down everyone who did that. I just said it seems as though if you are someone who does that, they MAY look into it. They may not. Who knows. It's all speculation unless someone here works for Chase.

[jsucool76]

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@kdm31091 wrote:

I didn't say they shut down everyone who did that. I just said it seems as though if you are someone who does that, they MAY look into it. They may not. Who knows. It's all speculation unless someone here works for Chase.

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I know a guy who knows a guy who knows a guy who knows a girl who knows a guy who's uncle's cousin's grandfather's nephew works for chase. 

The guy I know told me that chase is only shutting down accounts of people who buy gift cards in increments/multiples of 3...

so $3,$6,$9,$12,$15,$18,$21,$24,$27 -----> and so on gift cards. 

#Trufax

[Anonymous]

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@jsucool76 wrote:

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@kdm31091 wrote:

I didn't say they shut down everyone who did that. I just said it seems as though if you are someone who does that, they MAY look into it. They may not. Who knows. It's all speculation unless someone here works for Chase.

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I know a guy who knows a guy who knows a guy who knows a girl who knows a guy who's uncle's cousin's grandfather's nephew works for chase. 

The guy I know told me that chase is only shutting down accounts of people who buy gift cards in increments/multiples of 3...

so $3,$6,$9,$12,$15,$18,$21,$24,$27 -----> and so on gift cards. 

#Trufax

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I do hope that you are serious and not suggesting that a rumor posted on the internet can be anything but true.

[jsucool76]

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@Anonymous wrote:

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@jsucool76 wrote:

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@kdm31091 wrote:

I didn't say they shut down everyone who did that. I just said it seems as though if you are someone who does that, they MAY look into it. They may not. Who knows. It's all speculation unless someone here works for Chase.

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I know a guy who knows a guy who knows a guy who knows a girl who knows a guy who's uncle's cousin's grandfather's nephew works for chase. 

The guy I know told me that chase is only shutting down accounts of people who buy gift cards in increments/multiples of 3...

so $3,$6,$9,$12,$15,$18,$21,$24,$27 -----> and so on gift cards. 

#Trufax

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I do hope that you are serious and not suggesting that a rumor posted on the internet can be anything but true.

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I'm a french model. 

[Anonymous]

Bonjour.

[NRB525]

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@jsucool76 wrote:

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@kdm31091 wrote:

I didn't say they shut down everyone who did that. I just said it seems as though if you are someone who does that, they MAY look into it. They may not. Who knows. It's all speculation unless someone here works for Chase.

---

I know a guy who knows a guy who knows a guy who knows a girl who knows a guy who's uncle's cousin's grandfather's nephew works for chase. 

The guy I know told me that chase is only shutting down accounts of people who buy gift cards in increments/multiples of 3...

so $3,$6,$9,$12,$15,$18,$21,$24,$27 -----> and so on gift cards. 

#Trufax

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Did you hear the one about the counterfeiter who was having trouble changing his counterfeit $18 bills until he found someone who offered "Sure, whadyawant? Two nines or three sixes?"

[vanillabean]

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@Anonymous wrote:

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@kdm31091 wrote:
Just because its not family or friends doesn't make it right. If you know its going to possibly get you shut down you clearly know its wrong.

Do what you want but the ethics are questionable period. No one can say it is totally the correct thing to do. You know full well its not. You just want rewards. To me its not worth having a shutdown which incidentally is probably not good for your credit

Even if its not against terms, you know its wrong or it wouldnt be a concern or a "loophole"! But to each their own, right?

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OK, it is TOTALLY the correct thing to do.  Sorry, I kow it is hard but not everyone has exactly the same moral judgements as you do.   Of course I want rewards,  that's the major reason why most of us here use credit cards.

As I've said before,  many behavoirs commonly supported here can be judged equally unethical:

1) Recon.   The ccc has made its decision.  By persisting, you are costing the bank money, potentially reducing the amount they are willing to spend on rewards.

2) PIF before statement close.  A deliberate attempt to DECEIVE lenders by artificially inflating the FICO score

3) Going for SP CLIs.  Requests for additional credit SHOULD be reported so that other lenders should be aware of your credit seeking behavior.

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I am under the impression that people want cards for the rewards, but need them for the credit. As such, people should be commended for paying off their debt early.

[Anonymous]

I could get by without credit if I needed to. I choose to use credit to my advantage though.

[Anonymous]

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@Anonymous-own-fico wrote:

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@Anonymous wrote:

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@kdm31091 wrote:
Just because its not family or friends doesn't make it right. If you know its going to possibly get you shut down you clearly know its wrong.

Do what you want but the ethics are questionable period. No one can say it is totally the correct thing to do. You know full well its not. You just want rewards. To me its not worth having a shutdown which incidentally is probably not good for your credit

Even if its not against terms, you know its wrong or it wouldnt be a concern or a "loophole"! But to each their own, right?

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OK, it is TOTALLY the correct thing to do.  Sorry, I kow it is hard but not everyone has exactly the same moral judgements as you do.   Of course I want rewards,  that's the major reason why most of us here use credit cards.

As I've said before,  many behavoirs commonly supported here can be judged equally unethical:

1) Recon.   The ccc has made its decision.  By persisting, you are costing the bank money, potentially reducing the amount they are willing to spend on rewards.

2) PIF before statement close.  A deliberate attempt to DECEIVE lenders by artificially inflating the FICO score

3) Going for SP CLIs.  Requests for additional credit SHOULD be reported so that other lenders should be aware of your credit seeking behavior.

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I am under the impression that people want cards for the rewards, but need them for the credit. As such, people should be commended for paying off their debt early.

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If you can PIF on all your cards, then you don't really *need* credit. cards.   A few things are tough without, such as car rental (who sometimes want a cc rather than a debit card) and stuff like that.

If you are actually carrying a non-0% balance, then yes, paying it off as early as possible makes sense.   But most advocates of the PIF before statement cuts aren't doing this (they are PIF).  Financially, it is marginally better to pay much nearer the due date (potentialy earning interest) so, no, I don't commend them, it is nothing but FICO manipulation, which is in fact the reason given.

[Saleen099]

LOL