A chase with chase

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I'm just going to leave this here.

Page 1 of 83 of my April statement:
Previous Points Balance 41,832
Points earned on purchases 835
10% Bonus Points per $1 You Spend 112
Bonus 10 Points on Every Purchase 55,650
Points Redeemed This Period 41,500
Current Points Total 56,929

Page 1 of 81 of my March statement:
Previous Points Balance 67,920
Points earned on purchases 592
10% Bonus Points per $1 You Spend 80
Bonus 10 Points on Every Purchase 40,490
Points Redeemed This Period 67,250
Current Points Total 41,832

Page 1 of 101 of my February statement:
Previous Points Balance 2,494
Points earned on purchases 68
10% Bonus Points per $1 You Spend 68
Bonus 10 Points on Every Purchase 67,290
Points Redeemed This Period 2,000
Current Points Total 67,92
(February would be the most profitable month, if you examine the numbers closely; but they got smarter after that month)

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.

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fair question I thought. Was there any mention of the amount of work this took?

Was it individually clicking checking ... (more)

zmre2b9 (Jul. 23, 2011 @ 8:37p) |

To redeem gift cards took a script, to purchase gift cards you can use a firefox plugin that will record your actions an... (more)

monarch20 (Jul. 23, 2011 @ 9:28p) |

deleted

ajohnamous (Sep. 01, 2011 @ 10:52p) |

Deal is hit or miss. When Chase closed my account they took all the accumulated points.

I lost a lot of money.

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

Page 1 of 83 of my April statement:
Previous Points Balance 41,832
Points earned on purchases 835
10% Bonus Points per $1 You Spend 112
Bonus 10 Points on Every Purchase 55,650
Points Redeemed This Period 41,500
Current Points Total 56,929

Page 1 of 81 of my March statement:
Previous Points Balance 67,920
Points earned on purchases 592
10% Bonus Points per $1 You Spend 80
Bonus 10 Points on Every Purchase 40,490
Points Redeemed This Period 67,250
Current Points Total 41,832

Page 1 of 101 of my February statement:
Previous Points Balance 2,494
Points earned on purchases 68
10% Bonus Points per $1 You Spend 68
Bonus 10 Points on Every Purchase 67,290
Points Redeemed This Period 2,000
Current Points Total 67,92
(February would be the most profitable month, if you examine the numbers closely; but they got smarter after that month)

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.


so you made thousands of 1 cent purchases? what merchant?

Only for the first month, after that chase adapted their fraud alerts to flag your account after ~10 .01 purchases in a day.
Then I moved onto .15 purchases, which they didn't seem to watch. I believe someone went really really big with the .01 purchases and caused the new fraud alert to be created in their system.

For the .15 purchases I was actually needing to redeem the GC, so I had to write a script for that.
I also toyed with the idea of using serve, but was afraid chase would reclassify/classify the serve transaction as a cash advance. (yielding thousands of dollars in fees)

Hot damn! Green for sticking it to Chase!

Were you able to redeem most or all of your points before the blacklist? What did they tell you, or did they just close your account?

My account was closed half way through the month. I left the checking account open that is necessary to get the 10 bonus points.
The online login still worked, and my credit account was still listed; but with a big message about the account being closed.

When the statement posted I just logged in and redeemed the points like normal. I believe there are two ways to do this and do it well:
Low and slow, mix in small purchases with your normal behaviour to avoid getting AA completely.
Fast and furious, open the account and hit it hard. The statement for a new account usually closes a few days after the account is first opened. I suspect after a few hundred more people try this they will either change the terms on the 10 bonus points, or not give rewards on closed accounts.

Do small transactions benefit the calculation somehow?... A zillion little transactions sure would raise flags, and costs for Chase.

EDIT: LOL! Assumed we were talking about AARP card, not the Freedom w/ 10 points per purchase when linked with Chase checking... Well done, OP.

JTFH said:   Do small transactions benefit the calculation somehow?... A zillion little transactions sure would raise flags, and costs for Chase.

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.

Page 1 of 101 of my February statement:
Previous Points Balance 2,494
Points earned on purchases 68
10% Bonus Points per $1 You Spend 68
Bonus 10 Points on Every Purchase 67,290
Points Redeemed This Period 2,000
Current Points Total 67,92

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.

Was the 100 page statement paperless?

stat9 said:   Was the 100 page statement paperless?

Yes, I toyed with the idea of not making it paperless (for fun). But I feared the large statement would cause the mailing department an issue and that would lead to an investigation.
Turns out they chunk the statements into 20 page sections, so it wouldn't have caused any issues.

stat9 said:   Was the 100 page statement paperless?

I was thinking the same thing.

Great job OP - love to see stories like this.

stat9 said:   Was the 100 page statement paperless?

Please tell me that when you were sticking it to them, you also made them send you a 103 page statement. LOL

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.

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.

Yes, Chase has been very good to me of late. They even gave me 30 thousand points ($300) just for asking nicely.
More power to you for this, but I'd hate to kill the goose that keeps laying those golden eggs.

I don't know how much effort this took, but wouldn't just doing computer consulting at $50/hr for 36 hours have been a better way to spend your time? Getting banned by one of the world's largest financial institutions for $1800 and a fair bit of work just seems so incredibly pointless to me.

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.

Thanks for sharing and congrats on defining and executing a unique (at least to me) strategy!!

monarch20 said:   stat9 said:   Was the 100 page statement paperless?

Yes, I toyed with the idea of not making it paperless (for fun). But I feared the large statement would cause the mailing department an issue and that would lead to an investigation.
Turns out they chunk the statements into 20 page sections, so it wouldn't have caused any issues.


Regarding your toying with the idea of paperless statements "for fun", I can't help but remember that scene from Home Alone where the burglars clean out a house, trash the place, and then turn on all the faucets after plugging the drains. Clearly this is on a much smaller level but the intent's the same and I'm left wondering 'WHY?'.

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.While you make a valid point there might be another way to look at this. The OP made 1.8k, is there some way I can improve on it to make 18k or how about 180k?

Thanks for sharing!

Somewhat surprised that Chase caught on faster than (presumably) Amazon...

While $1800 might seem like a small take to many, the genius here is taking < $300 and turning it into $1800 in a few months with minimal work. Of course, those with more working capital will naturally have more lucrative opportunities than this.

ajh5408 said:   Somewhat surprised that Chase caught on faster than (presumably) Amazon...

Amazon caught onto the penny GC after 7 days..
I suspect that they will change the .15 GC very soon, now that this post is out there.
First person to make a thread about places that sell low value GC is going to get alot of green.
They did not however catch onto other ways to buy penny items from them.
(http://amzn.com/B000EFQY60, http://amzn.com/B001EGQGXO)

But penny items are not useful for this any more.

I scored only a little over 100K points until they caught me. They closed my account but i still have two more credit cards with them. I could go under the radar but i knew i was blacklisted already because chase refused all new card applications for the last 9 months so i decided to go all in.

LOL, so awesome... The only thing left to do now is probe and find the exploration sweet spot.

How far can we go with Chase AARP without getting blacklisted? I don't want to kill the goose. Thoughts?

adamsmart78 said:   I scored only a little over 100K points until they caught me. They closed my account but i still have two more credit cards with them. I could go under the radar but i knew i was blacklisted already because chase refused all new card applications for the last 9 months so i decided to go all in.

Man you are so darn lucky. I wish I had the foresight to get multiple cards.
My wife is even banned from chase, and she's never had a product with them. It took them significantly longer to review her application than mine though

Did you do the penny stuff? or larger transactions?
Did you still get your rewards after they closed your account?

learningtime said:   How far can we go with Chase AARP without getting blacklisted? I don't want to kill the goose. Thoughts?
20-30 transactions a day should be safe, as long as they are above .10

*Facepalm* this thread is not about the AARP card..

Great job. As a fellow blacklist member, I salute you!

I love stories like this, thanks for the entertainment. Chase has been way too good to me lately to get blacklisted. Heck my previous two credit card sign ups have yielded more than $1,800 in sign up rewards (BA 100k miles and SW 1RT and $500 GC) BUT those require some serious spending. Kudos to you for having some fun, now go take on Citi

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 ~ 5k transactions before I was cancelled. Opened a new cc 2 months later so doesn't seem to be a ban or ymmv.

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.


what did you do?

Aphex242 said:   I don't know how much effort this took, but wouldn't just doing computer consulting at $50/hr for 36 hours have been a better way to spend your time? Getting banned by one of the world's largest financial institutions for $1800 and a fair bit of work just seems so incredibly pointless to me.

Whatever it takes to stick it to Chase, whatever it takes and by any means necessary.

Well done OP!!

motsuka said:   I got ~ 5k transactions before I was cancelled. Opened a new cc 2 months later so doesn't seem to be a ban or ymmv.
Did you still get your rewards?

I guess my blabbing about this on fw might have been a bad idea if I could have done it all again in a few more months..

monarch20 said:   motsuka said:   I got ~ 5k transactions before I was cancelled. Opened a new cc 2 months later so doesn't seem to be a ban or ymmv.
Did you still get your rewards?

I guess my blabbing about this on fw might have been a bad idea if I could have done it all again in a few more months..


lol yeah maybe delete it if you don't want the whole world to find out

Didn't they do this in Superman 3?

I was shut down by Chase in February for this after about a $200 take. I haven't tried reapplying yet but I will at some point. The same technique also works with BOA KTC. It is more work (multiple accts) and takes longer to get the payout but the margin is higher.

I think this deal has some longevity given its relative difficulty and the vast number of targets. My personal favorite was the Hertiage Foundation, the irony was rich.

I'm a newbie to this, do you get 1 pt. for any transaction under $1? So a purchase for 0.01 yields 1 pt the same as a purchase for 0.25, the same as a purchase for 1.00? With this specific Chase card?

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

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