Many people got today a secure message from Chase with the following information (bolding mine):
Dear Chase Online Customer:
Thank you for using your Chase business credit card. Please continue to use it for business purchases, but remember that it’s not intended for personal use.The regulations that cover business cards do not provide the level of protection given to consumer cards. We want you to receive the consumer protections you are entitled to. So, please use a consumer credit card for purchases for personal, family or household use.
If you need a consumer credit card, please call us. We can help you choose the Chase consumer credit card with the features and benefits that fit your lifestyle best.
If you have questions, please call us anytime at the number on the back of your card.
Sincerely,
Card Services
(Multiple FWF users here and here got this message, as did a friend of mine.)
The main difference between business cards and personal is that there are certain consumer protections required on personal cards which aren’t required on business cards. I’m not exactly sure how those differences play out since the bank will usually cover fraudulent charges on business cards as well, but legally there are some protections which aren’t required.
I’ve always been nervous to use my INK Plus on rental cars (for it’s primary collision insurance coverage) in case there would be an accident and Chase would ask for proof that it was used for business use. Not that I’ve heard such stories, but it seems possible. Same goes for buying electronics or another item for personal use – where I want the warranty or other protections – I’ve been sure to use a personal card out of caution.
Other than that, I figured the issuer doesn’t care much if I’m willing to forgo the added protections and use the business card for personal use.
It’s possible Chase is cracking down on this, perhaps with an eye toward reward enthusiasts who find the best category on each card to maximize. Or maybe Chase is doing this for legal reasons to be able to prove that they did their due diligence in keeping people aware of the issue. My guess is the former, but we’ll have to see if it plays out in more solid action or if they’ll suffice with the messages.
