Last Friday was best known because it was National Christina Day, but something a little less overt happened Friday, hidden in the noise of the National Christina Day parades: Chase shutdown some of its biggest manufactured spend abusers in a second round of purging about a month after the first round. This round of shutdowns appears to be for:
- Floosies that accidentally or purposefully took advantage of bonus multipliers to the tune of at least a few thousand dollars
- Churners who found their own ways to trigger bonus categories and did so with medium to heavy volume this year
- People with large suspicious money flows in our out of their deposit accounts
The first two groups saw only credit cards close while deposit accounts were untouched. The last group saw everything closed. There are enough questions swirling around the churnosphere that probably the subject probably deserves answers beneficial to the whole commnity:
[Q]: What happens to your points when Chase shuts you down?
[A]: They stick around for 30 days unless you’re in New York, in which case it’s 90 days. In rare cases your points vanish immediately, but this is only when Chase suspects fraud or money laundering.
[Q]: Can I get back into Chase if I was shutdown?
[A]: It very much depends on the reason, and how you were shut down. Depending on the circumstance, it’ll be one of: you’ll never see another card again, you’ll be back in after five years, you’ll be approved for cards but they’ll be shut down in a month or two, or you’ll be back in 60-90 days
[Q]: Is there anything I can do to reverse the shutdown?
[A]: There are certain types of shutdowns like bust-out risk that can be overturned by the Chase Executive office. Unfortunately, this round doesn’t seem to be related to any of those types of shutdown, so for those affected in April and May the answer is probably no
[Q]: If Chase shuts me down, can I link new transfer partners in the Ultimate Rewards portal post-shutdown?
[A]: Yes
[Q]: Will pending points post after I’m shutdown?
[A]: Yes
[Q]: Do I need to worry about another round?
[A]: Probably if you know the details of what happened to trigger bonus categories and you had significant volume; otherwise probably not
[Q]: Should I self-shutdown preemptively?
[A]: I would if you were part of the bonus category shenanigans and you haven’t been axed yet
[Q]: Do I need to worry that I’ve maxed spend on my Chase Ink Cash cards at office supply stores?
[A]: No
Good luck, and happy Monday!
Next time: The story of how boomer-era Chase Manhattan Bank helped propel National Christina Day into the worldwide spotlight.