Chase converting some INK accounts to INK Capital (no rewards)
Feb 15, 2019, 4:59 pm
#1
Original Poster
Join Date: Dec 2015
Posts: 206
Chase converting some INK accounts to INK Capital (no rewards)
today I received terrible news for both of my chase ink accounts (the old and the new preferred)
i was told that because I’m “government entity” my cards are being converted to non-reward earning Chase Capital cards.
I do work for a public university but my business is not a government entity.
Did anyone else receive this notice? Any tips?
i was told that because I’m “government entity” my cards are being converted to non-reward earning Chase Capital cards.
I do work for a public university but my business is not a government entity.
Did anyone else receive this notice? Any tips?
Feb 15, 2019, 6:36 pm
#2
Join Date: Dec 2009
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I saw this in some of the Facebook travel groups. If your business entity isn't a government entity you should definitely appeal this and/or reapply with one that differentiates from being a government entity. If they say no at least try to get your points moved now to your CSP, CSR or CIP.
Feb 16, 2019, 12:14 am
#4
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Chase has sent out letters to a number of Chase business credit card holders. The letters state that these cardholders are having their business rewards credit cards changed to Chase Business Capital cards on April 2nd because they are ‘government entity clients’ and want to avoid a potential conflict of interest. The Chase Business Capital card does not earn rewards.
https://www.doctorofcredit.com/chase...ntity-clients/
Feb 16, 2019, 7:48 am
#5
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Are you in the academic field when you applied the Ink Cards? If so, Chase thinks you are government employee and you should not earn any reward from your Ink cards.
Chase has sent out letters to a number of Chase business credit card holders. The letters state that these cardholders are having their business rewards credit cards changed to Chase Business Capital cards on April 2nd because they are ‘government entity clients’ and want to avoid a potential conflict of interest. The Chase Business Capital card does not earn rewards.
https://www.doctorofcredit.com/chase...ntity-clients/
Chase has sent out letters to a number of Chase business credit card holders. The letters state that these cardholders are having their business rewards credit cards changed to Chase Business Capital cards on April 2nd because they are ‘government entity clients’ and want to avoid a potential conflict of interest. The Chase Business Capital card does not earn rewards.
https://www.doctorofcredit.com/chase...ntity-clients/
Feb 16, 2019, 11:42 am
#6
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See here:
Apparently many people who have gotten this letter aren't government entities, so it appears Chase may have sent (some of?) these letters in error.
Chase Sending Out Business Credit Card Forced Product Conversion Letters For ‘Government Entity Clients’ (DoC)
Apparently many people who have gotten this letter aren't government entities, so it appears Chase may have sent (some of?) these letters in error.
Feb 16, 2019, 12:23 pm
#7
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So I am in the academic field and did select Educational services when applying. But I do not in any way work for or with govt entities. What do we do if we receive this letter? I mean, I know I can call, but are they staying on top of this realizing what they’ve set in motion?
Feb 16, 2019, 4:17 pm
#8
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"FWIW, got the letter yesterday. Called Customer Service and was told to ignore it since I’m not a government entity client. CSR was dreading the onslaught of calls they were going to get."
"Just spoke to a supervisor, she said there is no opt out and that if you received the notice then it’s happening to your account. Absolute BS I’m a public school employee but my business is completely non-related. Quite infuriating."
Last edited by mia; Feb 16, 2019 at 4:22 pm Reason: Formatting of quoted text.
Feb 17, 2019, 2:19 pm
#9
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@stagermainparis
It seems a developing event, just like the 1099 fiasco.
There are reports on reddits as well but they are buried in the daily discussion thread instead of a stand alone thread.
There are also reports on non English site.
Same conflict information - but mostly are Chase phone reps have NO CLUE at this junction. I would suggest for those who are affected, go down to your local branch if you have it in your locale and ask the branch manager to sort this out for you if you are indeed not have your business income from being directly employed by a public education system.
On Reddits and non English sites, there are people who do private tutoring and obviously picked the education as their field, they get the notice letters.
Once again, it is Chase using software to flag accounts due to compliance needs but without thinking thru the potential implication - for the most obvious, the top universities in this country are all PRIVATE - but if you have business income derived from providing services to such entity, you will be classified as government employee and therefore your Ink card would be forced to convert to the no earning Ink Capital card...
It is just yet another mess we have seen coming from Chase in the short period into 2019...
It seems a developing event, just like the 1099 fiasco.
There are reports on reddits as well but they are buried in the daily discussion thread instead of a stand alone thread.
There are also reports on non English site.
Same conflict information - but mostly are Chase phone reps have NO CLUE at this junction. I would suggest for those who are affected, go down to your local branch if you have it in your locale and ask the branch manager to sort this out for you if you are indeed not have your business income from being directly employed by a public education system.
On Reddits and non English sites, there are people who do private tutoring and obviously picked the education as their field, they get the notice letters.
Once again, it is Chase using software to flag accounts due to compliance needs but without thinking thru the potential implication - for the most obvious, the top universities in this country are all PRIVATE - but if you have business income derived from providing services to such entity, you will be classified as government employee and therefore your Ink card would be forced to convert to the no earning Ink Capital card...
It is just yet another mess we have seen coming from Chase in the short period into 2019...
Feb 18, 2019, 7:32 pm
#10
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Eek.
Please follow the thread as we relocate your query to the Chase forum.
~beckoa, co-moderator Information Desk
Please follow the thread as we relocate your query to the Chase forum.
~beckoa, co-moderator Information Desk
Feb 19, 2019, 10:59 am
#11
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So I received this letter and I don’t exactly recall what I selected.I received the CIP 2 months back and am just completing the MSR’s to get the welcome bonus. So if they have decided 2nd April, then will need to transfer the points as soon as I get those?
Btw,they charged me $95 as joining fee which from the letter seems they will refund right?As others have said that Chase is bent on changing the card, I just hope the welcome bonus posts and I am able to transfer those and that they refund the joining fee..(I anyway’s applied for the welcome bonus.
Btw,they charged me $95 as joining fee which from the letter seems they will refund right?As others have said that Chase is bent on changing the card, I just hope the welcome bonus posts and I am able to transfer those and that they refund the joining fee..(I anyway’s applied for the welcome bonus.
Feb 19, 2019, 11:10 pm
#12
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So I received this letter and I don’t exactly recall what I selected.I received the CIP 2 months back and am just completing the MSR’s to get the welcome bonus. So if they have decided 2nd April, then will need to transfer the points as soon as I get those?
Btw,they charged me $95 as joining fee which from the letter seems they will refund right?As others have said that Chase is bent on changing the card, I just hope the welcome bonus posts and I am able to transfer those and that they refund the joining fee..(I anyway’s applied for the welcome bonus.
Btw,they charged me $95 as joining fee which from the letter seems they will refund right?As others have said that Chase is bent on changing the card, I just hope the welcome bonus posts and I am able to transfer those and that they refund the joining fee..(I anyway’s applied for the welcome bonus.
I read a fresh DP on non English site, the poster received a letter informing him his existing UR pts would be cashed out in 1c per pt and a check of $190 would be mailed to him.
Yes, the $95 will be refunded.
For those who are affected, you will need to take action in any way you see fit, rather than waiting for Chase to come to its solution. Right now it seems like a machine in motion to pursuit the forced conversion.
Feb 20, 2019, 3:53 pm
#13
Join Date: Nov 2009
Location: PDX
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I cannot transfer the points to my personal account ?? It will be cashed and then I am sure they will send me a 1099 at year end !
Feb 20, 2019, 5:48 pm
#14
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The poster just said he received a mail from Chase informing him about the cash out value and the AF refund at the time of the card is involuntarily converted.
For those who are affected, it is upon yourself to contact Chase ASAP to sort this out if your business card is NOT based on your business income from a government entity. . The earlier the better.
Feb 22, 2019, 7:50 pm
#15
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I got this too, although I do not work for government or education and do not have a .edu address. My business is vacation rentals. I do have an unusual email domain, so perhaps Chase was unsure how to classify me.
I won't have time to contact Chase for a week or so. By then, I hope others will have figured out some idea of what to do.
I won't have time to contact Chase for a week or so. By then, I hope others will have figured out some idea of what to do.