Balance Transfer Unavailable Due To New Federal Laws?

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TT_Credit
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Balance Transfer Unavailable Due To New Federal Laws?

Postby TT_Credit » Tue Mar 20, 2012 5:05 pm

I currently have a Chase United Mileage Plus Explorer Card. I’ve had the mileage plus card for years and recently upgraded to the explorer card.

I have a roughly $14K limit with $0 balance.

In years past, I always had a balance transfer option available and have transferred a balance to this card once (a few years ago) within the last 10 years or so. Everything went smoothly and am interested in transferring a balance to this card now. (Definitely would prefer to do this over opening a new card) I’ve noticed over the past few months, there have not been any balance transfer options available for my account.

I inquired with their customer service about this since I have been a loyal customer for at least 10-15 years and was given the following response:
[INDENT]“We want your Chase credit card to be the solution for your financial needs. While we are working to ensure that we are meeting new Federal laws, the option for a balance transfer is unavailable. You will receive notification once a promotion becomes available and it will be displayed online for review.”
[/INDENT] I was wondering if anybody has seen this before from Chase and if there is anything I can do besides just sitting and waiting for an offer to pop up?

Does anybody know how long this could take?

Thank you.

-TT


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PlatinumAMEX94
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Postby PlatinumAMEX94 » Tue Mar 20, 2012 6:59 pm

I have never gotten any offer for my United Visa for any balance transfers, but I continually get them for Citibank, Chase Slate, FIA Cards and my Discover Card on a regular basis. I had assumed it had to do with the type of card it is. Mine is a flexible spending card, not a credit card so that may have something to do with it.
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JCarter
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Postby JCarter » Tue Mar 20, 2012 11:38 pm

TT_Credit wrote:[INDENT]“We want your Chase credit card to be the solution for your financial needs. While we are working to ensure that we are meeting new Federal laws, the option for a balance transfer is unavailable. You will receive notification once a promotion becomes available and it will be displayed online for review.”
[/INDENT] I was wondering if anybody has seen this before from Chase and if there is anything I can do besides just sitting and waiting for an offer to pop up?

Does anybody know how long this could take?

Thank you.

-TT


What this is, is JPMorgan / Chase is coming into compliance with the CARD act passed in 2009 but recently began being enforcable because Richard Cordray was recently made it's Director and has been able to lay out guidelines for how issuers should proceed with compliance with the act. I'd say give them 60 days or so and it should be available.

You could always call in and ask to see if it is just unavailable online, or if it's also unavailable over the phone.

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Postby JCarter » Tue Mar 20, 2012 11:40 pm

PlatinumAMEX94,

I presume it is the United Explorer in your signature? I have had the option to do balance transfers on mine in the past, so they should be available to you.

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PlatinumAMEX94
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Postby PlatinumAMEX94 » Wed Mar 21, 2012 4:49 pm

Yes, I have the Explorer United Card. When I log into Chase they are available, but they have never sent me anything in the mail.
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Postby DavidNY » Wed Mar 21, 2012 5:15 pm

Chase online says the same thing for my Freedom card. No can do. It can do almost anything a credit card can do, but it can't go for that.

https://www.youtube.com/watch?v=ccenFp_3kq8

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Postby JCarter » Thu Mar 22, 2012 1:14 am

Oddly enough, I just logged in to check and my UA card will process a balance transfer if I enter in the information. Have you tried to call Chase and ask them about it?

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Postby TT_Credit » Thu Mar 22, 2012 3:19 pm

Interesting. I haven't had a chance to call them yet, this was just the response I got from the customer service over email. I'm going to try to call them in the next few days to see if there is any update.

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Postby TT_Credit » Wed Mar 28, 2012 2:33 pm

Well my call with customer service went as I expected. I didn't get anywhere.

Customer service just told me what I already knew; that I didn't currently have any offers available and Chase would notify me when one came available. They couldn't give me any reason why, nor point me in the direction of somebody who could tell me why.

They said the offers are created by the marketing department and there was nothing they could do to open an offer.

So, guess I'm back to the waiting game unfortunately.



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