Update 5/23/19: People are reporting receiving the annual fee fully refunded. People are also receiving ‘Credit for unused rewards’, even if they transfer the Chase UR to another account. I assume the second credit will eventually be clawed back. Hat tip to Kareem_Elbadry
Update 4/2/19: If you weren’t able to get your case reconsidered, it has now been converted to the Chase Business Capital Card.
Update 3/4/19: At least one person has gotten a follow up letter after contacting Chase to say they are not a government entity client. Might be worth calling in to fight this if you haven’t already. Hat tip to ProfitDarkly
Chase has sent out letters to a number of Chase business credit card holders. The letters state that these cardholders are having their business rewards credit cards changed to Chase Business Capital cards on April 2nd because they are ‘government entity clients’ and want to avoid a potential conflict of interest. The Chase Business Capital card does not earn rewards.
The problem is that the people receiving these letters aren’t government entity clients, so it appears that Chase has sent out these letters in error. We’ve reached out to Chase for comment and have yet to receive a reply. The full letter can be viewed below:
Small Update: This seems to be affecting people that selected ‘Educational Services, Colleges/Universities/Professional Schools’ during sign up.
Hat tip to GoodLifeTravel
I was force converted. Can anyone suggest a reason in the world for keeping this card? Also, I did not withdraw my points and received a compensation rate of around .2 (point two) cents per point; is this what others have experienced?
With P2 having met MSR and maxed out referrals, I’m kinda hoping we get a forced conversion and get the AF refunded!
My CIP was converted to Business capital (and that’s fine), but I have not seen the AF reversed as per what was given in the letter. Anyone checked or received that?
Chase ink Business CAPITAL card
https://flic.kr/p/2ejE1SJ
I’m curious as to why people are recommending transferring the UR points. It’s not like you’ll lose the points as a result of the forced product conversion, is it?
The letter says any unredeemed rewards associated with the account(s) will be cashed out in the form of a statement credit.
PSA:. Transfer your UR from any converted products ASAP. This should go without saying but I know the PSAs have saved me in the past
UR Portal still shows old CIP/CIU/CIC Card photos when you click on “Total Points” in app or browser. Transferred small balance showing to my CSR card.
Good timing on the conversion as the CIP AF would have posted this Month. Transferred reoccurring bills to a different card as well.
Applied and approved for CIC yesterday with a different business with Sole Prop. Other cards were converted to the Business CAPITAL cards and no longer showing in UR Portal but new card is.
Image of Biz Capital card
https://flic.kr/p/2ejE1SJ
Has anyone ever heard of Photoshop? Or, if that was too hard, how about MS Paint?
Putting stickies on paper to redact things is so 1989!
I sent an SM on March 14 explaining that I am not a government entity, have never done buisiness with a government entity, and do not want my card changed. I received a response by snail mail on March 21 saying “We have reviewed your account again and confirmed that it can remain the current awards-earning product…” It was as simple as that: no phone call, no request for additional information, and a very quick turnaround.
Same thing happened here and just received the same letter. 🙂
Oy vey just opened that CIP
Just another DP, DoC: I received the same letter from Chase yesterday informing me my card would no longer be changed. I had messaged Chase about two weeks ago via secure message letting them know my business didn’t serve any government entity. They said I would receive a letter in the mail giving me an update on their decision.
To be honest, I might still transfer my Ultimate Rewards to a personal card right before April in case they screw up and accidentally convert my Ink as originally stated. I think I can always transfer them right back afterwards.