Originally Posted by moarmiles (Post 21884366)

I just found out my that Chase closed my Sapphire and Ink Bold accounts over the weekend. I was told on the phone that it was probably due to inconsistent charges (ie personal expenses on the Ink Bold card). My main concern now is the 300,000 UR points I currently have (or had). Are those gone for good? Is there any way to retrieve the points? Can I appeal their decision?

HELP!

Originally Posted by moarmiles (Post 21884366)

I just found out my that Chase closed my Sapphire and Ink Bold accounts over the weekend. I was told on the phone that it was probably due to inconsistent charges (ie personal expenses on the Ink Bold card). My main concern now is the 300,000 UR points I currently have (or had). Are those gone for good? Is there any way to retrieve the points? Can I appeal their decision?

HELP!

Originally Posted by moarmiles (Post 21885527)

Thanks for the info @mia. I may go the small claims route.

'Probably' is what the customer service rep told me over the phone, so I will just wait to get the official letter to see why my accounts were closed.

I did not transfer points at all. Heck, I didn't even merge my points between my Sapphire and Ink cards.

I've had my sapphire card for 2 years now and my Ink card since July. My sapphire used to have around 5-10k/mo of charges which I paid in full each month. But all that activity died down when I signed up for the Ink card and Starwood cards a few months ago.

For my Ink card, I just hit the minimum spend requirements and now only use it to pay for office depot stuff, cable, and mobile phone.

Main spend is on my starwood cards now as I'm trying to get points for Alaska Airlines.

Originally Posted by moarmiles (Post 21885527)

I did not transfer points at all. Heck, I didn't even merge my points between my Sapphire and Ink cards.
I am sure that your account was not closed because you merge points between Sapphire and Ink. I have done it many times. It is legal and not break any rule of Chase

I've had my sapphire card for 2 years now and my Ink card since July. My sapphire used to have around 5-10k/mo of charges which I paid in full each month. But all that activity died down when I signed up for the Ink card and Starwood cards a few months ago.
Just my opinion, I think you have a balance from 5k to 10k each month from personal card (Sapphire) may cause the problem

For my Ink card, I just hit the minimum spend requirements and now only use it to pay for office depot stuff, cable, and mobile phone.
dont even see this cause the problem, just my opinion

Originally Posted by TheChallenge (Post 21886423)

As others have said, I'd recommend the small claims court option if you get nowhere with Chase. It'll be the only way they will surely listen and you'll receive what you are owed (Likely they'll call to settle).

Your shut down sounds similar to mine a few weeks back, personal checking and business cards shut down while I had a semi high balance of UR points. I'd say somehow Chase didn't like what or how much you were charging on the Sapphire if you really were charging that little to the Ink.

Sometimes I feel like Chase specifically targets those with large point balances to get rid of the liability off their books. Even assuming a high 2% merchant fee, a consumer would have to charge an additional $300,000 in charges to equal the gain Chase made my confiscating over 300k UR points. My math could be wrong since it's 3am, but $300,000*.02(Merchant Fee)-$300,000*.01(CB Value)=$3000.

I really could see Chase deciding it's pointless to wait for a customer who never has interest charges to push $300,000 through their cards when they simply can remove a $3000 liability from their books to the same effect by severing the relationship with the customer.

Originally Posted by pantanal (Post 21888257)

very doubtful they would be closing and targeting accounts without just cause

Originally Posted by Happy (Post 21888548)

Quote:


By your analogy all the airlines should shut down high balance accounts too and they will take off a big liability sitting on the books

Hotel programs should do the same too






Originally Posted by pantanal


very doubtful they would be closing and targeting accounts without just cause




The "just cause" is up to the broad interpretation of the banks - all banks, not just Chase - when they see closing an account with high reward balance would work the best for their bottom line. They are betting that the customers would not fight back.

OP, you will not get any specific reasons in the official letter that eventually comes, other than something really generic, such as account not being used at intended purpose or account does not fit the business purpose or something along that line.

What the CSR told you is nothing but a pure guess from him/her - there would NOT be any hint in the system that a front line CSR could see. Not even a private banker would see any reason for account closure if you read the threads mia posted.

You can waste your time beating all sorts of bush. However as others have pointed out, a small claims court filing is the only way to get the bank to talk to you on this matter. It is sad but true.

My advice is to read up those threads prompto. When you get nowhere with Chase in the next few weeks (as indicated by the experiences from all others before you down this path), send a polite but firm demand letter to the Exec Office of the bank. You would likely not getting any response other than a call that basically tell you to pound sand.

After that, file the SCC suit. You have done all you can on good faith and now it is time for you to fight for your points if you really want them back.

The hardest part of the process actually is to find out the correct place / individual to serve. I am not sure you would need a specific individual's name if it is a claim against a corporation. Chase branch should be where you have your summons served - call the branch that is closest to the county court of your jurisdiction and verify this with the manager.

Good Luck and keep the community updated.