A chase with chase

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I think it is more profitable to not get blacklisted like this.

As an example, I rec'd 3 round trip Southwest tickets, plus about $1,500 in Southwest gift cards from Chase this year...add that together if each ticket is worth $350, and you get almost $2,500. (that's a high estimate)

Not to mention the Continental deal, and old AOR money, which may come back...add that all together and it is probably $5K-$10K over the last 3-4 years.

I've been blacklisted by one large bank and cannot get in on their deals anymore.

I think keep it moderate, but keep the bonus pipeline open. Just my 2 cents.

If you want more ideas for how to have fun with Chase, consider this $75K windfall. Check out February 2010 if you want to skip the commentary and I apologize in advance for the self-promotion. I have yet to test my blacklist status, though my Chase personal CCs remain open.

Thanks for sharing OP, in the true spirit of the old FWF.

Venturion said:   If you want more ideas for how to have fun with Chase, consider this $75K windfall. Check out February 2010 if you want to skip the commentary and I apologize in advance for the self-promotion. I have yet to test my blacklist status, though my Chase personal CCs remain open.

Sorry to go off topic, but the archiving of that thread impaired my asking there: Did you get a 1099 from Chase?

kickerstarter said:   After seeing all the greens on the post, I think the days which Chase still give 10 points per transaction is numbered.

No big loss
Like KTC, the benefit is negligible to anyone using it as intended (which I guess is intentional on Chase and BoA's part)

Venturion said:   If you want more ideas for how to have fun with Chase, consider this $75K windfall. Check out February 2010 if you want to skip the commentary and I apologize in advance for the self-promotion. I have yet to test my blacklist status, though my Chase personal CCs remain open.So still nothing on your personal credit report then? Congrats...

Peteypablo - I did get a 1099-C from Chase. I filed it under my defunct company and claimed insolvency to disallow it.

Gizmoduck - Chase reported the accounts as being charged-off instead of settled. I kindly asked them to remove the reporting entirely as consolation for the damage incurred from the wrongly reported status. They did.

how you guys are doing .01 transaction....is there any easy way to do this online

VK11 said:   Ok, this is one big IMHO....but, for $1,800 you got yourself banned from Chase...probably for a while. It seems there are other ways to earn that money with AARP card...also promos for Sapphire, airline miles, Southwest, bonus on checking/deposits, etc, etc.

I share the sentiment, and would not do something like this .. but there are plenty of folks that are in different circumstances and might live without Chase for a few years, e.g., those who have already gotten most of what Chase had to offer and are on the "you've used this promotion in the past" list for most everything. Green to OP for sharing. A copy of the 100+ statement should be forwarded to the Library of Congress.

jugadek said:   how you guys are doing .01 transaction....is there any easy way to do this online 10 key... Practice makes perfect

monarch20 said:   writing the script took me an hour, and configuring the other tools to run the transactions took like 5 minutes.
Compare this effort to people churning the AARP card, and I suspect my $/hr comes out higher.
I don't live anywhere near a chase bank so its not exactly a loss to me.

Anyways, thanks for stopping by the thread.


Now you may want to profit some more and sell the script and methods used.

monarch20 said:   I strongly believe several others here took advantage of this deal as well, please post your stories.

I did this but only 200-250 transactions per month, enough for $20-25, but not enough to get banned.

Has anyone who tried this by buying Amazon GCs received AA from them too?

That seems like an additional risk of this tactic. It's Amazon who's paying the (likely) 20-40 cents per one cent GC order. So it's really them taking a bath, not Chase.

DaveHanson said:   Has anyone who tried this by buying Amazon GCs received AA from them too?

That seems like an additional risk of this tactic. It's Amazon who's paying the (likely) 20-40 cents per one cent GC order. So it's really them taking a bath, not Chase.
I think he mentioned earlier that Amazon cut him off after about a week. The workaround was to buy higher value GC's (like 15c).

Thanks gizmoduck, but my general point remains the same. 15 cent GCs would cost Amazon maybe 35-55 cents each.

Having them deny one cent purchases is no big deal, but their importance means avoiding a blanket ban from them should have nontrivial value.

i did this with keep the change for a few hundred $ two years ago

jd2010 said:   Didn't they do this in Superman 3?Right, and the people who made Office Space copied it yet again. But that was actually a different scam, er, scheme, than OP's.

Wonder if OP would have stayed alive a few months longer with Chase if the script had on a daily basis created charges between, say 5 and 17 cents or so, and even ramdomized them within that range (and within that day). Instead of being all the same amount. Or maybe I misread and they did...

monarch20 said:   I'm just going to leave this here.

I'm banned from chase now, but figure others may want to take up this deal and see their luck with it.
To my surprise even after having my account closed I still received my points for that month.. So if you want to get blacklisted, get blacklisted in style!


P.S.
I strongly believe several others here took advantage of this deal as well, please post your stories.


OP,

Big kudo's to you for posting this in at time where withholding has become the norm in FW. Very good strategy and execution while it lasted. Enjoy your points and again, thanks for sharing with the community. Notice the OP was banned, its banned but yet he did post the results without giving up details or spoonfeeding anyone. That's what FW should be all about, given back to the community.

FYI... this isn't new. This was posted publicly on the forum in early February.

That message isn't directed at the OP (who posted in the February thread that he had a script). I'm surprised so many people haven't heard of this already.

fatwallet2099 said:   I've been blacklisted since March 2007 for taking advantage of their generosity. They still hate me. My rejection letters all read: Previous Unsatisfactory relationship with this bank.
I guess the relationship was one sided...They gave and gave and gave and I took and took and took...As you can see, don't expect to get another Chase card anytime soon.


I got blacklisted by them circa 2007 after I did 3 apps (Sony, United Personal, and United Business). When United Business showed up with $20K CL, and I tried to activate it, they closed them all. I convinced them to open just one card. Then for years I had the "unsatisfactory relationship letters". But just last month, I got a Chase Continental OnePlus with 50K bonus and a very large credit line. I have since moved, had higher paying jobs, etc, so that might be it. Also, they were spamming me with a Presidential Plus card deal for a few months, and I did not take it (though terms were pretty generous, like 30K bonus miles, first year free, etc).

atohmc said:   FYI... this isn't new. This was posted publicly on the forum in early February.

That message isn't directed at the OP (who posted in the February thread that he had a script). I'm surprised so many people haven't heard of this already.


Did you give this deal a try yourself? If so would love to hear your results.

I started trying this strategy end of last year. At that time it was 20 points per transaction. A shot of my Jan summary:

fatwallet2099 said:   I've been blacklisted since March 2007 for taking advantage of their generosity. They still hate me. My rejection letters all read: Previous Unsatisfactory relationship with this bank.
I guess the relationship was one sided...They gave and gave and gave and I took and took and took...As you can see, don't expect to get another Chase card anytime soon.


Same since 2008. Seeing all of the killer airline deals, specifically the BA Visa and Southwest promo offers come and go has made me kick myself. I've been summarily rejected for every card I apply for.

As a data point, I did try for the first round of the BA Visa. When I had the rejection letter state the "Previous unsatisfactory relationship with this bank." I called in and spoke to an underwriter. She changed my status to "Too many active credit cards open." This may change my status and allow me to open a card down the line. Worth a shot, YMMV.

Where to use 0.01 online?

Used to work for Amazon gc

monarch20 said:   [

I didn't want to completely spoon feed this, and since you are definitely one of the smarter people around here I'll walk you through the math since my post must be to cryptic

It costed me 68$ for 67k in points..
Now that was the first month, I'll let you do the math for the other two.


Lol

Pylos said:   fatwallet2099 said:   I've been blacklisted since March 2007 for taking advantage of their generosity. They still hate me. My rejection letters all read: Previous Unsatisfactory relationship with this bank.
I guess the relationship was one sided...They gave and gave and gave and I took and took and took...As you can see, don't expect to get another Chase card anytime soon.


Same since 2008. Seeing all of the killer airline deals, specifically the BA Visa and Southwest promo offers come and go has made me kick myself. I've been summarily rejected for every card I apply for.

As a data point, I did try for the first round of the BA Visa. When I had the rejection letter state the "Previous unsatisfactory relationship with this bank." I called in and spoke to an underwriter. She changed my status to "Too many active credit cards open." This may change my status and allow me to open a card down the line. Worth a shot, YMMV.


Pylos, the person that you spoke to, were they just a contact from the chase credit contact number, or how did you reach them?
Did you just ask them to change the wording, or did you say anything to sweeten it?

GreyRabbit said:   Pylos, the person that you spoke to, were they just a contact from the chase credit contact number, or how did you reach them?
Did you just ask them to change the wording, or did you say anything to sweeten it?


I called the application department, after they explained the reason I asked to speak to an underwriter for a second review. I just spoke with her and explained that I am simply taking advantage of the offers Chase sends me in the mail. I also told her that I enjoyed the bank and the goodies that are thrown my way and would like the record to state something different. She told me she would change the wording and I received a second denial letter in the mail with the new wording as the denial reference. I've yet to try to apply for a new offer, but I like my chances now. The "Unsatisfactory Relationship" seems to be a pretty hard-lined black list.

Good luck!

You didn't stick it to CHASE, you stuck it to the merchant who got 1 cent and paid out 30 cents in fees.

hellyea81 said:   You didn't stick it to CHASE, you stuck it to the merchant who got 1 cent and paid out 30 cents in fees.
Yes, in fact chase is probably keeping this deal around because when people take advantage of it chase comes out ahead.

monarch20 said:   I'm banned from chase now, but figure others may want to take up this deal and see their luck with it.
To my surprise even after having my account closed I still received my points for that month.. So if you want to get blacklisted, get blacklisted in style!


You got lucky. When they closed my account in February they also closed my reward account and took the points.

I lost a lot of money.

mrteeth said:   monarch20 said:   I'm banned from chase now, but figure others may want to take up this deal and see their luck with it.
To my surprise even after having my account closed I still received my points for that month.. So if you want to get blacklisted, get blacklisted in style!


You got lucky. When they closed my account in February they also closed my reward account and took the points.

I lost a lot of money.


Did your rewards account have points in it when the account was closed? I was cleaning my rewards out each month, so when the AA happened there was like 400 points in the rewards account. Perhaps that was why they did not close mine.

Have you checked recently to see if the rewards showed up when the statement closed?

I'd love to hear your numbers.

monarch20 said:   
Did your rewards account have points in it when it was closed? I was cleaning my rewards out each month, so when the AA happened there was like 400 points in the rewards account.

Have you checked recently to see if the rewards showed up when the statement closed?

I'd love to hear your numbers.


Well I only got two months in and I was also cleaning out once per month, just before statement day because I figure AA is most likely to happen when they compile the statement, but they outsmarted me and closed my account right before "pay day". They screwed me so hard that second month that it wiped out everything I earned the first month plus a lot more.

There were a lot of points in the account and more showed up after it was closed, but it didn't matter because they froze my ability to redeem points (as well as the ability to transfer points to my other accounts). When I called they said they couldn't unfreeze it because the card was closed and a few weeks later they zeroed out the rewards account and closed that out too.

I punished them by telling them they need to send me paper copies of my statements for the last few months which they did.

I'd rather not discuss the numbers, but it was the second worst case of adverse action I've ever received. Worst was a similar deal at another bank which responded pretty much the same way except they also called the police when I went to inquire at the branch...you're probably thinking I was acting like a lunatic, but I wasn't, I just calmly stated that I wasn't leaving until I got to speak with the manager and, rather than asking me to leave, their immediate response was to call the police. Police were at first irritated that they were called for no reason, but as the bank kept calling them back the police eventually threatened to arrest me for trespassing (all I was doing was sitting in the waiting area making phone calls to the corporate office...didn't even have a single word with the staff after the first police visit...staff never even asked me to leave).

I thought about doing this but didn't want to risk the adverse action since Chase is my primary CC

atohmc said:   FYI... this isn't new. This was posted publicly on the forum in early February.

That message isn't directed at the OP (who posted in the February thread that he had a script). I'm surprised so many people haven't heard of this already.


And thankfully, I never got around to scripting it. Thanks for the heads up OP. I don't think a ban would be worth it for me.

What is this thread about?

Anybody ever try this with the Capital One choose your own rewards card? I was going to try it, but my earlier AOR got me rejected. I could have sworn that one of the options was a penny a transaction.

Let's keep it alive by keeping it jive

I've got a new twist for those who are thinking about doing this. Lots of your utilities accounts accept partial payments, many as low as $5, some as low as $1...

If you have been doing it steady with good results, can you please tell your threshold? Put down the knife and step away from the cat! Also Monarch, you should call and complain and ask them what the threshold is since you're totally screwed anyway


I've got a new twist for those who are charitable givers. My church accepts paypal donations, and i called paypal to inquire on the terms they give to non-profits. THe answer was no fees are taken out of donations to non profits, 100% goes through, no base fee, no 3%, nothing. I think that is total BS, but I'll let you know if my church backs that.

Pylos said:    When I had the rejection letter state the "Previous unsatisfactory relationship with this bank." I called in and spoke to an underwriter. She changed my status to "Too many active credit cards open." This may change my status and allow me to open a card down the line. Worth a shot, YMMV.

Actually this is a valid angle. The only part where the statement "Previous unsatisfactory relationship with this bank", the way it is stated, should be true from the perspective of such milkers as OP is the card closure. OP should call to reinstate the account, to keep the satisfactory relationship with the bank.

As for the other angle, as others have said, Chase got their money back from the merchant, while nothing against the terms of the offer happened. Sure, they freaked out, but it's more than just that they're risk averse. So the relationship from this perspective is less than optimal, but still profitable.

What am I missing? (of course I admit this is mostly a theoretical question)



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