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Originally Posted by Happy
(Post 12332474)
You can go ahead to dispute this with Chase or report to Visa, whatever and however avenues you choose - it aint to make any difference to change the fact that you are trying to exploit a promotion that is NOT designed for the way you contemplate to take advantage.
P.S. I simply closed the account. Chase probably hoped for some other outcome from the promotion. :eek: |
Originally Posted by ceieoc
(Post 12332937)
Regarding PayPal as an ACH agency, why would a bank want to single them out and not accept PayPal inbound deposits? This would seem to be a restraint of trade against PayPal. There are thousands of other ACH agencies offering deposits. It seems strange that a bank wouldn't also block all these other ACH agencies if they really don't want to accept ACH deposits.
The banks ACCEPT ACH deposits alright, PayPal inclded. Just that most banks with promo that would require having "Direct Deposit", have also made a definition of "Direct Deposit" to define WHICH types of direct deposit would meet the promo requirements. In almost all cases, the "Direct Deposits" to meet the promo requirement, are referred to Payroll and SS, and spelled out such in the promo T&Cs. |
Originally Posted by rrgg
(Post 12332956)
If they wanted to design a different promotion, they could have done it. They make the promotion rules after all! :D So it's not my fault.
P.S. I simply closed the account. Chase probably hoped for some other outcome from the promotion. :eek: |
Originally Posted by ceieoc
(Post 12333073)
I agree with rrgg. When rrgg applied for this card, it subtracts from their credit score for up to two years. The incentive to get the Chase Visa card was the advertised bonus and rrgg was following all of their rules. Rrgg was simply taking advantage of an advertised offer by following the Chase Bank instructions. Chase Bank appears to have failed to deliver their part of the offer.
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Originally Posted by Happy
(Post 12333080)
Is that anything new?
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Originally Posted by ceieoc
(Post 12333165)
I guess I never realized how slimy banks could be. I can see why the US government had to bail some of them out. Some banks do want it to have it both ways. I noticed that the majority of by bank junk mail comes from Chase bank.
Incidentally, Chase has paid back the TARP while government now owns 34% of Citi de facto. |
Originally Posted by Happy
(Post 12333054)
You confuse the ACH deposits with the "Direct Deposits" as defined by the Banks when they offer promo with requirement of "Direct Deposit".
The banks ACCEPT ACH deposits alright, PayPal inclded. Just that most banks with promo that would require having "Direct Deposit", have also made a definition of "Direct Deposit" to define WHICH types of direct deposit would meet the promo requirements. In almost all cases, the "Direct Deposits" to meet the promo requirement, are referred to Payroll and SS, and spelled out such in the promo T&Cs. My ACH provider allows me to label the transaction anything I desire. I still don't know why a bank would not want PayPal but take other ACH vendors deposits. Any ideas? |
Originally Posted by ceieoc
(Post 12333409)
So if a person decides to pay themself and call it payroll through an ACH transaction, shouldn't this meet published terms and conditions of the bank?
My ACH provider allows be to lable the transaction anything I desire. I still don't know why a bank would not want PayPal but take other ACH vendors deposits. Any ideas? You can label your PayPal payment as payroll and see if your bank treats it as the way you want. This thread may give you some ideas as why the scheme you have in mind does not work with Chase: http://www.fatwallet.com/forums/finance/942002 In particular, the wordings of the small print says: The back of the coupon says "Also, within 60 calendar days of account opening, you must initiate a monthly direct deposit such as payroll, pension or Social Security or other government benefits." |
After accounting for the tax bite on interest income I consider this a good deal even if AA miles are valued at a mere $.01/RDM. Anything above $.01/mile return at the time of redemption and I'll be ahead.
Plus I really like the idea of paying less taxes. A LOT :D |
Originally Posted by vxmike
(Post 12337929)
After accounting for the tax bite on interest income I consider this a good deal even if AA miles are valued at a mere $.01/RDM. Anything above $.01/mile return at the time of redemption and I'll be ahead.
Plus I really like the idea of paying less taxes. A LOT :D |
Originally Posted by drdomore
(Post 12381581)
I agree. I just went through this thread - is the bankrate.com AA offer still available?
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Originally Posted by rrgg
(Post 12331541)
It doesn't matter to them that they asked you to make the transactions. It can still trigger fraud alerts.
Chase offered me a bonus for making 25 purchases on the Southwest Visa. I did the gas station trick and made $3-$5 purchases. They put a freeze on the account. I called and explained the promotion. They apologized and said I'm all set. Then they froze it again after 2 purchases. I called again to unfreeze. I made a small grocery store purchase and they froze it a third time. When I called again they basically said what I was doing was wrong. I gave up. Read the Australian thread on 3 M miles with Amex for small purchases
Originally Posted by lovetravellingoz
(Post 11357557)
ALMOST THREE MILLION POINTS by a RTW BEER TASTING , READING NEWSPAPERS AND THE LIKE!!!!!!!!!!!!
Of course, YMMV |
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