200k UR points

Discussion in 'General Discussion | Miles/Points' started by TravelBear, May 18, 2014.  |  Print Topic

  1. TravelBear

    TravelBear Gold Member

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    Currently working towards a goal that would require ~300k UR points (if my math is correct). Should I move some of my current points to an airline program since my balance is high? I know most folks say don't move points until you are ready to use them, I just don't want something funky to happen and have them disappear from my accounts.

    Thanks for any input.
     
  2. Ed Chandler
    Original Member

    Ed Chandler Silver Member

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    If only there were a good answer to that. :-(

    I'd been keeping my points "flexible" in UR, but then I got an ominous-sounding call from Chase a few weeks ago so I dumped them all "just in case." So far, so good, but there's no way to tell.

    Still, since you know your "plan" will cost 300k UR, then it stands to reason that you must know where you're eventually going to be putting those points anyway, so there's very little harm in positioning at least *some* of them there now.
     
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  3. Slow_Mustang
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    Slow_Mustang Silver Member

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    The way Chase sometimes closes all accounts of their customers and you end up losing everything in your account, I don't trust them at all and move my points the day they become available. Lately, they have been even looking at the spending habits on the existing cards when you apply for a new one and denying new applications because they suspect that there is too much manufactured spending going on, on the existing cards. For those reasons I would get them out ASAP, but others may have different opinions.
     
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  4. LarryInNYC

    LarryInNYC Gold Member

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    No, I don't think Chase has any history or interest in shutting down accounts because they have large balances.

    On the other hand, if you think there's some other reason you should expect to have your accounts shut down, you might want to secure the points. You'd have to know where to move them to, however -- if you have specific plans and wind up with the points in a program that doesn't allow you to execute those plans, then they're worthless (or, at least, worth less) to you.
     
  5. brucewil

    brucewil Silver Member

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    Agreed.
     
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  6. MX

    MX Gold Member

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    What might be those other reasons to expect a Chase takeover of your account? This is an interesting subject, as many of us have accounts with Chase and would like to mitigate the risks of doing business with them.
     
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  7. Zomby Woof

    Zomby Woof Silver Member

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    I don't get why Chase would care about manufactured spend on a card you've had for a while. They would get their percentage/swipe fee regardless. If they don't like people opening accounts, getting the bonus by meeting min spend, and closing account, then they need to provide more incentive for card retention vice high new card bonus.
     
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  8. TravelBear

    TravelBear Gold Member

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    I don't have any reason to believe my accounts are in jeopardy, in fact I just applied for and was approved for a Chase product in the past 2 weeks. I just see a LOT of points in there and there are those reports of abrupt closures when the person has, according to them, done nothing. I have been doing a bit of forum reading the last few days so the possibility of this has been a little in the forefront of my mind. Freaking myself out most likely but I thought I would toss it out there. I think that I will likely move a bulk of the points to a program just to keep my mind at ease.
     
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  9. LarryInNYC

    LarryInNYC Gold Member

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    I wonder. The 7.5 cents or so per dollar that people are rebated for using the Ink card at office supply stores has to come from someone, and I'm guessing not all of it comes from the store. So it may, in fact, cost them something to keep those cards in service -- and, for those they consider abusers, it could conceivably cost a lot.

    In any event, you can bet that there is some cost associated with it or, you're right, they wouldn't care.
     
  10. HaveMilesWillTravel
    Original Member

    HaveMilesWillTravel Gold Member

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    I assume the issuer has a certain spending model that they base their benefits on. They expect a mix of spend, some of it earning the regular points rate and some if earning a higher points rate. If the user of the card is using the card only at places with higher points rate, their overall cost might make them less profitable (or not profitable at all). That said, I doubt that Chase is going to close my accounts because I only use my UA Select card for grocery store and United.com spend (2x and 3x). My pattern clearly isn't MS as I don't buy $500 gift cards every time I go to the grocery store (in fact, I never buy them). So I don't have any concerns about the 100k UR points sitting in my account.
     
  11. LETTERBOY
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    LETTERBOY Gold Member

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    Heavy duty MS, most likely. If someone's just using the card normally, the way Chase intended for people to use it, I don't think they have much to worry about.

    Well, how do you think they're going to pay for these new incentives? By raising the annual fee, that's how. And then people will complain about that. Chase (and AmEx & Citi, for that matter) can't win.
     
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  12. LarryInNYC

    LarryInNYC Gold Member

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    Somehow, I think they're winning just fine! :)
     
  13. satman40

    satman40 Gold Member

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    I recently activated another INK Card, and was on a recorded line, telling me no traveler Checks, and some other items, I do use HIGC to pay my Lowe's bill, but I do not convert it into cash,

    Still I limited my liability also....agreed
     
  14. TravelBear

    TravelBear Gold Member

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    I cannot find the HIGC in my area any longer. Would love to get them since I give them to my partner since he usually is the one shopping at Lowe's or Home Depot.
     
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  15. satman40

    satman40 Gold Member

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    OD and even Speedway Gas has them in our area., also Staples.

    home improvement gift cards..

    I love the 5X with college rentals,
     
  16. Mrlasssen

    Mrlasssen Silver Member

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    I would put them or at least the bulk of them in my wife's account to be safe, then move them back to your account and then transfer them into the air/hotel accounts you want when you are ready.
     
  17. LarryInNYC

    LarryInNYC Gold Member

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    I was going to suggest this but:
    1. I'm guessing Mr. Bear will have some difficulty coming up with a wife for the transfer and
    2. If one is facing an angry bank audit department attempting to claw back points I don't believe that transferring them to another account with the same bank in the same household will throw them off the track.
     
  18. Mrlasssen

    Mrlasssen Silver Member

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    Yes, but why would they attack another persons account if you are the one they are after.
     
  19. LarryInNYC

    LarryInNYC Gold Member

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    Because they will have a record of the transfer. If they feel you stole points from them, they can take them back from the other account -- in fact, you might even be implicating the other account.
     
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  20. Mrlasssen

    Mrlasssen Silver Member

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    Very interesting, do you have any knowledge of something like this happening?
     
  21. LarryInNYC

    LarryInNYC Gold Member

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    None whatsoever, nor do I expect to in the future. However, I have transferred points from my wife's account to mine (to consolidate them for an award), and I'm 99.99 percent sure that Chase would be able those transfers if necessary in the future.
     
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  22. Mrlasssen

    Mrlasssen Silver Member

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    Thanks for the input.
     
  23. TravelBear

    TravelBear Gold Member

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    You are correct Larry, while I do have a 17 year spouse we are not legally married. Plus even if we were to get married I wouldn't take his last name, or v. a v. But that's a whole other ball of wax. Oh, and I could come up with a wife if I wanted, but aint no body got time for dat! :-P

    Regarding institutions clawing back points based on everything I have ever heard, especially with Chase, if those points are still in their system at all they can do what they like with them.
     
  24. LarryInNYC

    LarryInNYC Gold Member

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    My wife uses her own last name, and no problem transferring points on-line or on the phone. So you might well be able to transfer -- I just don't think that will protect your points in the event an angry Chase is trying to claw them back.
     
  25. Slow_Mustang
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    Slow_Mustang Silver Member

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    Little bit off topic, but Gary's blog had a blurb about Singapore Airlines becoming a partner for conversion of UR points, and how this is very beneficial for certain international travelers.

    Never mind!
    I see that somebody has already started a new thread on that topic.
     
    Last edited: May 22, 2014

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