Chase converting some INK accounts to INK Capital (no rewards)
 

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.

Received a letter today from Chase that the both Ink cards will be converted to Ink Capital. What's the story on this conversion? I did not ask for the conversion. Anyone know why this is happening and how to stop the conversion?

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/

See here:

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.

Did you read the linked blog about this that Happy posted? It says that other people who have gotten this letter are not "government entities", and that Chase apparently sent some (many?) of these letters in error.

I did read the linked blog. And the comment section. The article opens with the statement that these letters were sent in error but later update says letter was sent to folks who signed up with Educational Services as their business. And the comments reveal conflicting responses from Chase, including the response that even if your business is unrelated to govt/public schools, like if you are a private tutor or consultant, you will still be converted.

@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...

Eek.

Please follow the thread as we relocate your query to the Chase forum.

~beckoa, co-moderator Information Desk

NO.
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.

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 !

I have no idea what you can do. I suppose that before the forced cash out is taken effect if your accounts are linked online, you should be able to transfer the pts out.

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.

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.