PLEASE Help ! RECON NO
 

Need the Chase United Explorer reconsideration number please.
Could not find it here with search.

Thank You

Don't call Chase biz recon unless you enjoy being grilled.

Your new Card is on its way.
 

Got the email today on the UA personal applied on 5/2 the last day of 50K offer and was approved thru a brief recon call nothing more than reallocating CL.

I totally agree with beltway that if you have boatload of UR pts, you should retain one premium card so you preserve the transferability while NOT counting one of you in the household would get a premium card to take up the slack should you not getting a retention offer.

As for the costs of miles to the bank, for those who have the ability and the inclination, I suggest you NOT to do random guessing, but dig up the banks' 10K and read the notes on their annual reports. It will not be listed by how much per mile costs, but will give numbers on the $ paid to partners in exchange for future use of the partners' currencies, something like that. It will take some analytical skills and some accounting knowledge to figure that out.

Back in the days before AA went into bankruptcy (the only airline that held out until the financial crisis finally forced it to do so), Citi had advanced beaucoup dollars to AA in several installments in exchange for usage of AA miles many months into the future. There were then very active discussion in AA forum attempting to figure out how much per mile it costed Citi based on the 10K filings from both AA and Citi. The surprising consensus was, it was not much below 0.01 per mile. It was far from "very cheap" in some of the folks' mind.

One can also dig up the above 10K's as well as AMEX 10Ks in the days it offered double DL miles on each $ charged on the DL cards and see for oneself how much the $ advanced to the airlines.

Those are all Public Records because all these companies are publicly traded companies. if you are going to speculate, at least speculate with some basic knowledge, that can be gleaned from those public records.

Reward cards cost banks a lot more money than the ordinary cards, hence the swipe fees are much higher on the reward cards. In the past, banks can mitigate the less profitable sides with the hugely profitable sides - that is, from those who carry revolving balances, from those who late pay, from those who overdraft their accounts etc etc. It really is not that much different from the days when the telephone companies charged very low monthly fee to maintain a local land line because the expensive long distance service greatly subsidized the local land line services. Well, the deregulation and the subsequent advent of technology totally changed that. The financial crisis and the myriad legislation that followed, totally change the old set up how banks make their money - now the banks live much more on fees and have to monitor their expenses much more closely.

I would say once again, we the miles/points and cash back collectors, are NOT the banks' best customers. In fact we are the banks' worst customers by taking any advantage the system offers while contribute very little to the banks' P&L ledgers.

It is definitely not good to see Chase taking this route, but it does not surprise me a bit, nor would I cry foul at all. It is just par of the course of doing business. We will find new ways to adapt to the new reality - Far more constructive than trying to second guess what the banks are up to and why they should not do that. Adapt and evolve. Game continues.

Per wiki on top:

(888) 245-0625 – Personal Reconsideration Line with a live rep


Next time please use Ctrl + F ^:)

Couldn't bring myself to read all of that. Still, with a TYP in branch app for a Prestige, an AA EXEC this week, and a Premier coming up in a week, I'll have spent @$25K in the last 2 months with Citi. Is anyone really going to try to tell me that Citi lost money on my latest apps? :confused:

$25k times 2% is $500. Citi doesn't get the full 2% either, as Visa/MC will take their chunk. 50k TY points is worth something like $800 in AA air fare. That doesn't count the 50k AA miles and the 50k from the Premier.

You think Citi made money off the 25k?

Read this - they are in big prints so you can better understand what kinds of fee a transaction would generate, AND more importantly, the BREAKDOWN of the fee - which is divided up among several players and bank is just one of them.

http://www.merchantmaverick.com/the-...ates-and-fees/

Good for you to point this out although it is sooooo obvious even a highschool senior could figure that out - it is just pure math.

Visa/MC definitely makes out far better than the banks in this game, fwiw.

Just on the surface number, Citi get a good portion of the $500 after other players to share that $500 - TYP worth is $800. Multiply that by 2, (both the Premium and Prestige card each got 50K), plus the 50K AA miles. Citi is paying the poster well over $2K worth of "currency" while only is getting back <$500 from OP's $25K charge.

On top of that, there are also costs associated to maintain an account.

If this still does not tell a clear picture to the readers, I dont know what will.

Stop finding all sorts of excuses to defend what we do, We are gaming the system and the banks finally wise up, because the reality makes them to - they are not in the business for our well being and indulgence. As a starter, they have shareholders to answer. Let's accept that and find new ways to continue this addictive hobby and life goes on. :)

Applying for Chase Credit Cards-Read Wiki First [Consolidated]
 

Banks loose a little money from churning. But the make a lot of money from people carrying balances.

They can try to have one without the other to increase the bottom line but I am doubtful if that works.

MSers don't pay interest on CC balances.

Ironically, I applied for cards from Chase (Fairmont), BofA (Alaska Airlines x2), Amex, Citi and US Bank (REI Mastercard) on 5/22. Chase app was first, and was the only one that was not approved (Citi and Amex were instant approvals). So considering my last app was US Bank, you can imagine my shock when I was eventually approved!

So if they get rid of churning, they make more money. If Chase implements a 5 card every two year policy, they can probably rid themselves of churners without impacting majority of the Profitable Customers.

Plenty of people have reported this on this thread in the past week.

Are you really confused about this because 100,000 miles and the TY points are surely worth more than the total $25,000 x 2% = $500 in revenues, less costs less fact that Visa gets about 75% - 90% of that fee.. Even if it was $500 all for the bank (it isn't even close), that is $0.005 per mile or half of a penny per mile, excluding TY points.

Let's not kid ourselves that we are doing the banks any favors. Some just don't have profit-maximization in mind, a-la Citi.

You don't need a premium, AF-heavy card to retain your UR points. Chase Freedom is easy to keep around and has not AF.. that is, if you have one already. If not, then yes the AF will have to be paid, unfortunately. Clever Chase.. this will burn a lot of people.

Retaining your UR points is one thing, but transferability is what Happy was talking about

Good point. UR points in Freedom won't go to UA or anyone else. Thanks.