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Chase Ban for 50+ Cards and Millions of Points Redeemed Through Pay Yourself Back

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chase ban millions points

Chase Ban for 50+ Cards and Millions of Points

Shutdowns and bans from major credit card issuers are a big blow, but if you walk away with millions of points, it definitely softens the blow. This latest case is about Chase and at least one customer who opened lots of Ink business cards over the last year. He redeemed over 7 million Chase Ultimate Rewards through Pay Yourself Back, and likely millions more transferred to travel partners.

We all check our Chase 5/24 count often, so how is it even possible to open that many cards? The 5/24 rule limits who can open a new Chase credit card, based on how many cards they have opened within the past two years. But there are ways to get around that rule. Chase usually has pre-approved offers that show up in your account that bypass Chase 5/24.

But even with those offers you might be able to get a couple of new cards. In this case there were some specific links that were used. These link were generated from those pre-approved offers and apparently worked like a charm. The links were made public a few days ago and quickly died out. Those who had access to these links, were able to apply for two Chase Ink cards every 30 days. So doing this for over a year for several people can easily get you millions of points. The person in question redeemed 7 million Chase Ultimate Rewards through Pay Yourself Back with a Chase Sapphire Reserve card. That alone is worth over $100,000.

We do not know all the details here, but I guess if you are to be banned by Chase, walking away with millions of points is the best way to go. We’ll have to see if any legal issues come up later on. We have seen people arrested for opening too many Amex cards, hotel rewards scams in Japan for over $1M, and American Airlines going after a customer over hidden-city ticketing.

HT: Reddit

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DDG
DDGhttp://dannydealguru.com
Based in NYC. Points/miles enthusiast for years and actively writing about it for the last 6+ years at Danny the Deal Guru. I'm always looking out for deals. Making a few bucks is always nice, but the traveling is by far the best part of this business.

Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

7 COMMENTS

  1. Andy’s $100k probably going toward legal fees at this point. Did he break any laws? IDK & don’t really care, Chase coming after him for $100k is entirely possible.

  2. He broke no laws. I know plenty of guys who spend big on 3X categories like Advertising and Shipping. They max out at 150K spend per card=450K points. Add bonus signup points and this is easy. 7 million points is no bog deal for the guys I know. The only thing slowing them would be getting new cards every 30 days. So they would earn 900K points per month. Severl million in 7 months or less after signup bonuses which are roughly 80K or so.

  3. Stupid, stupid chase. Shuts down lowly customers with 800+ credit scores and lots of assets in deposit accounts with them because it thinks they are a bust out risk, and lets this dude open dozens of cards and accumulate millions of points without noticing.

  4. That old saying of “…don’t hate the player, hate the game…” comes to mind. Hahahaha. Good for whomever as able to pull this off. I will never shed a tear for any of these lenders.

  5. But did he actually break any laws?

    He must of had “some” money of his own to spend since in order to get your bonus you have to meet the minimum spend. Maybe it churned a bunch of GC?

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