Posted by William Charles on August 18, 2018
Manufactured Spending

Published on August 18th, 2018 | by William Charles

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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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rockstar87
rockstar87

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????

Melon Gain
Melon Gain

Cancel vs Downgrade CIP: GO!

Frank
Frank

Literally no reason to cancel unless you don’t want to have a CIC

Guybucktastik
Guybucktastik

Unless you don’t want a cic, but do want a ciu.

Yoni
Yoni

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.

Rob
Rob

The Barclay Uber VISA also has cell phone protection and there is no annual fee

Lingua
Lingua

Would be great to see a post on cel phone protection details.
Thanks for the lead on barclay uber.

Ben
Ben

Dang. I literally just applied for this last week.

jpv
jpv

It’s the best bonus there is out there right now, don’t worry too much.

Chaser124
Chaser124

Me too

AP
AP

LOL thank Keith Rosso from MMS. Seriously fuck that guy.

Charlie
Charlie

This change was inevitable. Why is anybody surprised?

ap
ap

Many are reacting to how and why (they think) the change happened.

Koob
Koob

Damn you Keith Rosso and CNBC!

Brandon
Brandon

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

Z
Z

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.

Brandon
Brandon

Yes! I read this just last week from the MSN home page of all places. No doubt this was seen and heard.

JuicyJosh
JuicyJosh

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.

Chaser123
Chaser123

You are missing the transfer value. You can get over 10 cents a point flying first.

Mike A
Mike A

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.

Abey

You transfert them to Hyatt for example for a much higher Valuation.

fll
fll

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

TheTaxman_cometh
TheTaxman_cometh

It was first posted back in June though

Chaseing Points
Chaseing Points

2 months is about the time it would take for Chase to take action on something like this.

bax
bax

How did that guy run 54k payment using a the CIP with a CL of 37k through Plastiq?

Lrdx
Lrdx

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..)

Kuso
Kuso

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

Ron
Ron

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?

Kuso
Kuso

Yea, claw back would be the ideal situation. I think that would be justice for everyone. Does chase have the ability to do that?

Jake
Jake

Apparently, you don’t know how MMS makes money. They get PAID by Chase to sell cards.

John
John

Thanks a lot Kieth. Just effed up this nice perk for everyone because of bragging. Idiot!

John
John

This guy also took down his post from the million miles secret website. Too late buddy.

P
P

Does CIC still code 5x?

TheTaxman_cometh
TheTaxman_cometh

Never did

P
P

Ah Ha! I was confused. Thank you!

John
John

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?

MoreSun
MoreSun

He did this a while ago.

Tom
Tom

I think 20% limit is only for visa personal card.

Peter
Peter

The visa restriction on Plastiq is on personal credit cards, doesn’t apply to visa business credit cards.

John
John

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.

MaxPower
MaxPower

Have no reason to use Plastiq now unless they do promos for VISA.

Guybucktastik
Guybucktastik

Do you own a hairdryer manufacturing company? Your name sounds familiar.

JuicyJosh
JuicyJosh

I think Max Power was what Homer Simpson changed his name to be.

NeGourmand
NeGourmand

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..

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