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New Chase terms on what “cash-like” transactions are
Big fan, long time reader! I’ve been receiving emails from Chase regarding changes to my account terms. Generally it’s the usual stuff, but I did notice that they have adjusted what will now be deemed a “cash-like” transaction; therefore not a credit charge. The area of concern states:
[B]•”[/B]making a payment using a third party service including bill payment transactions not made directly with the merchant or their service provider.”
Does that mean 3rd party providers like Plastiq or pay1040.com are now going to be deemed as cash advances and not credit charges? If so this would mean interest begins immediately and that no points are accrued. Thoughts? Thx
The guys at Frequent Miler discussed this last weekend. I haven’t had a chance to listen to this but maybe it will address your issue: