Originally Posted by
Happy
1) Would you mind to give a bit more info on your spend / payment pattern on the Ink Plus, like $ charged, frequency of payments, and for how long you were doing that... So it would help others better manage the risk.
2) Were your wife an AU on some of your cards or you are AU on hers? Did you have JT bank accounts?
3) Chase does not ban people for life if the closure is not due to discharge of debts - i.e. no forgiven debt and Chase is not out of any money.
Seems people were able to get back on the good side between 12 to 24 months per the past data points. Of course things can always change.
1) I was doing a lot of bill pay per month. 4-5 bill payment per month, month after month in Walmart bill pay. for about 5-6 month.
2) Yes I was an AU on my wife's ink card. After my ink got shut down, I stopped doing bonus spend (staples) in my wife's card and stopped doing bill pay also and only did some small legitimate spend. I started thinking that i had already done 45K in my wife's card in the 9 months and maybe a good idea to do some non-bonus spend for remaining 3 months and did only a 2200$ purchase in simon mall. all her chase cards got shut down 4 days later.
No joint checking/savings account on Chase. Neither me nor my wife have deposited a single MO in either of our chase account in at least 3 years.
3) No. Chase did not lose any money in the sense, I paid off all my credit card balances right away. I was able to successfully transfer all my UR balances (SQ and UA). Dropped the ball on draining my Chase checking account but they sent me a check within 10 days.
My biggest red flags i believe were
- too much bill pay (at least 3 payment per cycle and sometimes 4-5) in Walmart.
Even though I was doing close to 50K in office spending, 3 years in a row, I did quite a bit of non-bonus Manufactured spend too. close to 30-35K per year on the Ink Cards.
goes without saying, got too greedy and threw caution to the wind. Live and Learn i guess.