Chase Ink Preferred No Longer Earning 3x On Plastiq
Unfortunately it looks like the Chase Ink Preferred is no longer earning 3 Chase Ultimate Rewards points per $1 spent on Plastiq payments. Transactions before August 16th still earned 3x, whereas those after this date are only earning 1x. Feel free to share your own data points in the comments, especially if they aren’t consistent with the dates discussed above.
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Think this has anything to do with the guy who used is Ink card to buy a $60,000 Tesla and get 180,000 ultimate reward points????
Cancel vs Downgrade CIP: GO!
Literally no reason to cancel unless you don’t want to have a CIC
Unless you don’t want a cic, but do want a ciu.
Its worth the $95 a year to pay cell bill 3X points and get phone protection for four flagship phones that are glass front and back.
The Barclay Uber VISA also has cell phone protection and there is no annual fee
Would be great to see a post on cel phone protection details.
Thanks for the lead on barclay uber.
Dang. I literally just applied for this last week.
It’s the best bonus there is out there right now, don’t worry too much.
Me too
LOL thank Keith Rosso from MMS. Seriously fuck that guy.
This change was inevitable. Why is anybody surprised?
Many are reacting to how and why (they think) the change happened.
Damn you Keith Rosso and CNBC!
Coincidentally after that story published about how someone used the CIP to buy a $60k car.
https://www.businessinsider.com/tesla-travel-rewards-credit-card-plastiq-2018-6
I hate people like that, wtf do you have to announce to the world… you won now stfu and gtfo… now he ruined it for everyone else.
Yes! I read this just last week from the MSN home page of all places. No doubt this was seen and heard.
So this guy just netted 0.5%? I dont see why he would want to run this story. Hey I paid $1500 in fees and got $1800 in points. And how do they come up with this $5000 valuation? Even at 1.5% portal its $2700 total. What am i missing?
Agreed, dude is a douche. What a pointless article.
You are missing the transfer value. You can get over 10 cents a point flying first.
Nobody who’s chasing points actually values those tickets anywhere near the sticker price. More realistically, you are guaranteed at least 1.5 cents/pt if you combine with CSR and redeem for travel.
You transfert them to Hyatt for example for a much higher Valuation.
I guess we can “thank” this guy bragged about his Tesla purchase that got publicized by CNBC on Aug 16th. Chase took notice of course.
https://www.cnbc.com/2018/08/16/29-year-old-keith-rosso-bought-a-60000-dollar-tesla-with-a-credit-card-to-earn-rewards.html
It was first posted back in June though
2 months is about the time it would take for Chase to take action on something like this.
How did that guy run 54k payment using a the CIP with a CL of 37k through Plastiq?
You can charge a Visa Signature any amount, just have to pay everything over your credit limit back. (I guess there are still reasonable limits, Visa probably doesn’t demand the banks to allow people buy stuff for $2 million..)
Isn’t this the case where someone is overdoing or taking advantage of churning and posting it online for the credit card companies to catch on? The tesla may be the reason for this Plastiq change and a while back, someone churned Alaska cards for Emirates flights for that to limit the number of card sign up bonuses. Honestly, if you do something like this, don’t share it with the mass media, it hurts everyone.
Who wants to hunt this guy down?? haha
Maybe not hurt him physically, but i wish he would be hurt 100% if Chase CLAWED his Points back for this PARTICULAR TRANSACTION……Can someone capable put this in Chase’s ear?
Yea, claw back would be the ideal situation. I think that would be justice for everyone. Does chase have the ability to do that?
Apparently, you don’t know how MMS makes money. They get PAID by Chase to sell cards.
Thanks a lot Kieth. Just effed up this nice perk for everyone because of bragging. Idiot!
This guy also took down his post from the million miles secret website. Too late buddy.
Here is the archived version of the post: https://web.archive.org/web/20180617034639/https://millionmilesecrets.com/guides/its-electric-how-i-earned-180985-points-purchasing-a-60000-tesla-with-a-credit-card/
LOL
Does CIC still code 5x?
Never did
Ah Ha! I was confused. Thank you!
Wait a minute. I thought Plastiq was only allowing 20% of the total credit limit for Visa which is what the Ink Preferred is. He charged $60K. So his limit was $300K?
He did this a while ago.
I think 20% limit is only for visa personal card.
The visa restriction on Plastiq is on personal credit cards, doesn’t apply to visa business credit cards.
FYI, this guy had tweeted all the articles referencing his “glorious” achievement on his profile. And a few minutes ago, he just made his twitter private, lol.
Have no reason to use Plastiq now unless they do promos for VISA.
Do you own a hairdryer manufacturing company? Your name sounds familiar.
I think Max Power was what Homer Simpson changed his name to be.
It’s the name you want to touch, but you mustn’t touch. It sounds good in your ear, but when you hear it have no fear. His name can be said by anyone..