Happy

Agree. Those reasons are obvious enough for me to understand why. There is no need to tell you word by word what you are doing is not accepted by the bank. Though by human nature, those who receive adverse actions always want to think that they have not done anything wrong, or they dont know where the line is drawn or the limit is not spelled out by the banks... trying to find an excuse to show they are innocent... yeah right.

Exactly. One wants to stay on the good side of the banks especially Chase because it has the most lucrative offers. Once you are banned by Chase, it takes a long time to regain its goodwill. A couple years seem to be the minimum.

Dont lower the limit voluntarily. As long as you do not apply for any new card in the next few months, you can always let your existing cards "aged" while periodically put some charges on them to show that you do use your cards for their particular purposes. If you space your new cards by 4 or more months from now on, you should be OK and the existing cards can be used to exchange for new cards, therefore closing the cards you dont want in the process.

Voluntarily lower your existing credit line can have adverse effect - that would put a hard ceiling on the total credit line Chase would give to you because the system sees you DONT need extra credit line by action of your request to lower the limit. Then you are stuck for X number of months until the hard ceiling disappear. During that X number of months any new card you want, could only come from the re-allocation of your now reduced total credit line! I am giving you the hard lesson we learned so you would not have to make the same mistake.

mia

Not accurate:

• American Express Membership Rewards points are worth $0.0125 when redeemed for travel (applies to USA-issued Platinum and Centurion accounts, implemented through a partinal refund of redeemed points)
• Chase UR points are worth $0.0125 when redeemed for air travel (applies to Sapphire Preferred, Ink Bold and JPM Select; $0.015 if JPM Palladium)
• Citi TY points are worth $0.0133 (applies to Premier and Prestige)

Confusion arises because all three issuers use $0.01/point as a starting point in their advertising and refer to percentages in their marketing, but there is a genuine difference between the Citi and Chase programs.

khanalim

Hi, thanks to everyone who responded. It really helped my thought process.

Here's the bottom line.

If I get 1 cent from chase If they close I am happy. I just wish they would offer transfer bonus to southwest united or Hyatt.

Sorry for those who pmed me, I dont wanna sell, I 'wanna get away'.

I am using legally, so I am in good shape.

For those saying 200k isn't a lot so don't worry.... Hey man, its a lot to me.

Thanks all

DavidAL

I've got over 200k UR points and I'm not a bit worried. I spend a good chunk of change via my chase cards.

TandTEnterprises

So let me get this strait... You are worried your card will be closed because of high reward point balances?
I regularly spend millions per year in biz expenses on chase and Amex cards and this has never crossed my mind. Should I be worried?

tassojunior

Does anyone have the link to that thread- I've searched.

And you're right. The AmEx FR's because of the authorized user promos hit many of us by surprise all of a sudden even though a few people had been posting of increased scrutiny by AmEx.

milevalue

No, you sound like an extremely profitable customer, who they would not want to shut down.

I think OP's concern is worth discussing, but is miniscule unless one's application/cancellation behavior is egregious.

srdshelly

I think their seeming vagueness and caprice in closing down accounts suddenly is not helpful to them in the long run. If word gets out that Chase might do that (and that's exactly what's happening), it will certainly devalue the UR program as a competitor to MR and others. I'm spooked enough that I moved most of my UR points to United (granted, I've been hoping to do a reward redemption there anyway fairly soon). It makes me ready to re-evaluate whether to renew or cancel the Chase Sapphire Preferred card. Why collect UR points that could vanish any second?, This has been my consistent go-to card for travel related and overseas spending. Can anyone really give assurance they are only acting against people engaged in fraudulent behavior and not those who are simply accumulating nice bonuses opening and closing accounts, but doing it within the T&C rules? Has anyone had a Sapphire Preferred card canceled without warning who was actually putting ongoing spend on it? It's too bad because I've really liked this card and program, and would prefer to keep it.

China Clipper

So this can really happen? I ask because I want to close a Chase United Explorer account, for which I didn't get the bonus miles I was promised (I got fewer). Even though I'm (now) not going to use the card, it's safer to keep it? Is there some way of reminding yourself when your 1st year is up so you can cancel then?

Must you actually have flown the flight or is buying the ticket enough to be safe from this 'clawback'?

yoyo

Chase can close your accounts pretty much for any reason (legal, of course) and you will forfeit your rewards after that. Also they do not have to explain to you why they did it since that is solely their business. There are plenty of people who got their card(s) closed and lost all the rewards. Having said that I believe the chance of chasing closing down an account with 200K points are small. Now if you have 2000K points or even more that's a different story...

AlohaDaveKennedy

All this stuff about being nervous about awards is starting to sound very familiar....

...vagueness and caprice in closing down accounts suddenly...

...I'm spooked enough...

Ximinez: "Our chief weapon is surprise...surprise and fear...fear and surprise...."

...Can anyone really give assurance they are only acting against people engaged in fraudulent behavior and not those who are simply accumulating nice bonuses opening and closing accounts, but doing it within the T&C rules?...

Biggles: "Now, how do you plead?"
Heretic: "We're innocent."
Ximinez: "Ha! Ha! Ha! Ha! Ha!"
Biggles: "We'll soon change your mind about that!"

The Spanish Inquisition lives!

bangkokiscool

Link. It's labelled Chase A/A (Adverse Action).

Dreading

The Frequent Miler did a thorough analysis of posts relating Chase closing accounts. It's a very helpful "what not to do" guide:

http://boardingarea.com/blogs/freque...tect-yourself/

particlemn

If you are scared cash them out for cash, they will give you 2k for 200k ur points. I would not worry especially if you are spending on the cards each month with multiple swipes per month. if you just met the minumum spned and then closed the accounts that may rasie a red flag.

ctownflyer

Why in the world would you do that?
The part to be scared about is that you won't be able to transfer them into miles (where they're worth much more than 1cpp) after they close your accounts. You should pretty much always be able to get them to cut you a check for 1cpp.

The idea of transferring to your wife likely won't help. From reports in most cases it seems that everyone in the same household is shut down within a few days of each other.

The problem for most is that United and Hyatt are both really good options (and other options like Fairmont are probably in the pipeline), but transferring the points locks you in and not transferring leaves you exposed to A/A risk.
With over 500K in my UR account it is something I think about though try to not worry about too much.