not to get off topic, i currently use my ink in office supply and the other 5x bonus categories to maximize the earnings...i hardly charge anything else as i use spg. should i use more of the normal personal spending on ink to hide most of the 5x categories? what are others doing ? i only spend about 600 on phone bills, internet , cable, and office stores ( mainly gas cards)


I do as you but also mix in some restaurants, Fast Food, Starbucks.... to mix it up a little. Also do some obvious personal spend at Macys and such. Have not had any issues to date but I also move points out the day they post just in case!!!

if you buy a suit in Macys for work - thats business expense.
pretty much anything can be a business expense, especially for sole proprietor/consultant.

I agree, but just so anyone reading this thread doesn't get the wrong idea, you are not supposed to write-off suit purchases on your taxes.

Very doubtful that it was your high UR balance. I have had over 1 million UR in my account and know of others with the same.

thanks ! I guess i'll mix little personal things as well so it won't be THAT OBVIOUS that i use only at 5x...

Please let me know of the operating business which does this as a regular practice.

Sure, there are exceptions to the rule, but the bottom line is that non-specialty clothing required for work, e.g. a suit, isn't a reasonable and ordinary expense.

Uh, let's see. This is a bank that has admitted to committing fraud and is paying out billions of dollars in a settlement with the feds. Closing accounts with large balances but little usage in order to reduce their liability is just another fraudulent behavior. Given their past behavior with mortgage-backed securities, why would one expect them to behave differently in their credit card business?

You have a point. However, it is not really worth for a bank this size to do fraud for small things. Miles wont move the needle (in terms of increasing eps) for this of gargantuan bank. Multi billion dollar fraud is a different thing..is worth the while..makes a difference


its like what Donald Trump said...if you owe the bank a million dollars you are F+*&%&.... if you owe the bank a billion dollars, they are F&%*&^

And then there's the truth. JPMorgan did not actually admit to committing fraud in the recent MBS settlement; that would be financial and legal suicide for them. The federal government punishing JPMorgan for doing something they begged the company to do (acquire WaMu and Bear Stearns at the height of the financial crisis) has very little to do with the any incentive they may have to end a credit card relationship with one individual. With JPMC in the government's crosshairs right now, do you really think they'd be unjustly terminating individuals' credit card relationships in order to save a few bucks, when they have over $2,500,000,000,000 in assets?

Almost every major company out there has been accused or gotten in trouble for some kind of wrongdoing or alleged wrongdoing, that doesn't mean that all companies are out there are trying to screw you over all the time. Although I'm sure it's a popular opinion.

is not what Donald SAID, its what he DID...became insolvent with a 10 figure debt over his casino debacle. If not for the sheer amounts involved he'd be a zero today.

...oh and I fully think Chase is cherry picking customers off to reduce liability. This is not new behavior in any shape way or form. Just because you are "not a big fish" you should not expect to receive ethical treatment, in fact being a small fish only makes you an easier target for a large corporate entity like Chase.

What difference does it make whether they admitted it? They. Committed. Fraud!

I do - because it's not Jamie Dimon or whatever his name is sitting there and deciding to terminate the OP's account. It's someone way down on the management chart, who has to answer for the profitability of his particular part of the business. That person wants to keep his job, get promoted, earn his annual bonus, whatever. He looks around and sees all the other fraud that his managers turn a blind eye to. Then he says, well, I guess it's OK if I do that too.

How do you think Chase got to be so enormous? By cultivating a culture of honesty and ethical behavior? Believe that if you want to. I don't.

I didn't say all companies are "trying to screw you over all the time." I'm saying that JP Morgan Chase is, at least some of the time. For one thing, there are some who say the 13.5 billion dollar settlement is far too low in proportion to the harm they did.

I was just correcting your factual inaccuracy. If you think they committed fraud, that's fine, everyone is entitled to their own opinion. But JPMC did not admit to fraud, as you wrote.

Personally, I think almost everyone involved in the MBS meltdown is at fault, from the people buying homes they knew they couldn't afford, to the government and regulators for incentivizing (or at least not curtailing) such behavior, to the banks for not being more forthcoming with the risk in their MBS products, to the ratings agencies for not highlighting the risk as is the entire purpose of their existence.

Again, you're entitled to your opinion. I'm of the opinion that there is more to this story than the OP is saying. I have over a million UR points, and so do many others. Why randomnly pick off a random 300k UR account that might save JPMC a thousand dollars or so? I find it hard to believe that Chase employees low on the totem pole have an incentive to terminate relationships with people due to high UR balances.

JPMorganChase got to be so big by a series of acquisitions, much like the other mega banks, and through a general, industry-wide consolidation over the past couple of decades.

And there are others who think it was far too high. I think the U.S. government is ultimately shooting themselves in the foot since no bank will want to come to the rescue ever again should the economy tank. But that's just my opinion.

Bolding mine

While we're searching for the truth let's get something straight - the bolded bit is factually incorrect. We can discuss this in OMNI if you like but the swallowing up of Bear Stearns was hailed as "cheap" by Dimon himself (http://www.cnbc.com/id/25211297) and Dimon was hailed as a genius for doing the deal at the time - that's hardly the government "begging" is it? It's funny how, when the deal looked good, the financial media couldn't praise Dimon enough....and now that it isn't looking quite so clever the same hacks are screaming that the government begged for the deal and that Dimon was doing them a favor at the time.

We can go around in circles forever about the OT issues, so I'll drop it.

Unless and until the OP chimes in with more info, we won't know whether there is indeed more to the story. You might be right that there is, but I don't put it beyond even a trillion dollar bank to decide that a small customer is unprofitable and drop him. There are plenty of reports on this forum about the automated nature of Chase's decision-making in their credit card business. I don't think it would be surprising to find that they've implemented an algorithm to identify and eliminate unprofitable customers. If there continue to be reports of seemingly baseless account closures, then we'll know something like that is going on.

Daily Show fan? You used the exact same talking points. In reality, the government did pressure JPM to acquire both Bear Stearns and WaMu; this is very well-documented (why else would the federal government provide non-recourse loans to JPM?). JPMorgan Chase, being a for-profit corporation, of course wanted to make it look like a good thing for their shareholders as well, and it probably did look like a good business decision. These ideas are not mutually exclusive though. Anyway, this is way OT, and I have no interest in wasting my time "debating" an issue when all the facts in question can be easily verified.

It may not even be something the OP is aware of. If JPMC is targeting unprofitable credit card customers, I feel that there would be a lot more reports of account closures on a forum like this.