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Update:

Please see this newer article, Plastiq Will Not Be Treated as a Cash Advance by Chase, with clarifications from Plastiq.

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Chase Gives Notice By Email of Upcoming Account Changes to Business and Personal Cards

Chase sent out an email on all of my Chase business credit cards this morning advising of several terms changes. Apparently, though I did not get this on any of my personal Chase cards, other MilesTalkers have reported getting it on theirs, so it seems like it will ultimately apply to all Chase cards.

(Check your email for Subject: Important information regarding changes to your Chase account)

These changes are effective April 16, 2021

One stuck out to me BIG TIME.

Cash-like Transactions

Cash-like transactions will be treated as cash advances. Cash-like transactions include, but are not limited to, the following transactions to the extent they are accepted:

purchasing travelers checks, foreign currency, money orders, wire transfers, cryptocurrency, other similar digital or virtual currency and other similar transactions;
purchasing lottery tickets, casino gaming chips, race track wagers, and similar offline and online betting transactions;
person-to-person money transfers and account-funding transactions that transfer currency; and
making a payment using a third party service including bill payment transactions not made directly with the merchant or their service provider.

 

First, check the first box, because you’ll need to avoid using your Chase Business card for crypto. OK, I get that – it’s like cash.

But see that last one?

The very definition of using a credit card to make a payment using a third party service including bill payment transactions not made directly with the merchant or their service provider is using a service like Plastiq or Melio.

I’ve reached out to Plastiq for comment and will update when I hear more, but it’s very possible this is a nail in the coffin for a very popular way of meeting minimum spend on a new credit card bonus offer by using Plastiq on a large charge that can’t be otherwise paid by a credit card.

I don’t frankly understand why Chase would make this change, given that Plastiq pays them their interchange fees so it’s hardly a churning play, but I may be missing some more nefarious play.

So far, I have only received this message about my business cards, not my personal ones. But I’m on the lookout…

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Thoughts?

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New to all of this? My “introduction to miles and points” book, MilesTalk: Live Your Wildest Travel Dreams Using Miles and Points is available on Amazon and at major booksellers.

I got "in the game" in 2003 and since then I've collected literally millions and millions of frequent flyer miles and hotel points. I've flown around the world in first class seats that would cost $29,000 using frequent flyer miles and a few bucks in tax. And I've stayed in some of the finest hotels - all for free! A few years ago I realized many of my friends actually thought I was paying for these!! So I started sharing my tips. It's long been a passion, but when I hosted a session on Miles and Points at the South by Southwest festival, my love of the game intensified and this blog was born.

7 COMMENTS

  1. Do you think this will apply to those purchases made before April 16th? Like if I make a mortgage payment using plastiq on April 1.. will that still count towards my sign up bonus? I have to meet the minimum spend by May 20th.

  2. I tried to make a car payoff payment this morning through Plastiq on my Chase card but it won’t allow it and is treating it as a cash advance. Chase told me the date that the change was to occur was in April, but that the merchant was treating it as a cash payment. Not sure how to get past this now. I shudder to think of the miles I’m losing out on.

    • This change wasn’t supposed to go into affect for another month. You should definitely call Chase and go over the terms of the change they sent by mail and that the change was supposed to be effective April 16th. I don’t know if that will get you the points but it SHOULD at least get any cash advance fees waived. Please report back!

  3. Will Chase World of Hyatt card charge for IRS Payment via IRS payment processor as a Cash Advance under the NEW CASH-LIKE Transactions rule?

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