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Author Topic: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!  (Read 87448 times)

Offline Ygold

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #220 on: July 01, 2018, 11:09:34 AM »
Do you not understand that the purpose of buying groups is to circumvent published terms of sale? To take advantage of businesses?

How is this even a question??

And why is that illegal? And why would a bank care?
Shout out to Meshugener!

Offline TimT

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #221 on: July 01, 2018, 11:12:05 AM »
And why would a bank care?
They supposedly have morals

Offline churnbabychurn

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #222 on: July 01, 2018, 11:14:19 AM »
And why is that illegal? And why would a bank care?
It's a mentality thing. Some people will just never get it...


Offline Ygold

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #223 on: July 01, 2018, 11:16:52 AM »
It's a mentality thing. Some people will just never get it...

Reb CBC,
I'm not a Zionist nor a Chabadsker. Please be fair to me, I'm a just novice or newbie, if you may, who's really just trying to understand.
Shout out to Meshugener!

Offline Ygold

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #224 on: July 01, 2018, 11:18:44 AM »
They supposedly have morals

So the entire issue is, that Chase doesn't like Best Buy being taken advantage of, and hence will shut your account down in order to stick up for Best Buy, because Chase has morals?
Shout out to Meshugener!

Offline churnbabychurn

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #225 on: July 01, 2018, 11:22:08 AM »
Reb CBC,
I'm not a Zionist nor a Chabadsker. Please be fair to me, I'm a just novice or newbie, if you may, who's really just trying to understand.
Not being unfair, try to think not like someone trying to beat a system.

Online aygart

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #226 on: July 01, 2018, 11:22:31 AM »
So the entire issue is, that Chase doesn't like Best Buy being taken advantage of, and hence will shut your account down in order to stick up for Best Buy, because Chase has morals?
Chase has no interest in being involved in anything shady. This means that a business which is shady such as one whose entire purpose is to circumvent T&C is one they are not interested in. It also gives them reason to believe that the customer is likely to circumvent Chase T&C as well. Pretty easy to understand with a bit of thought.
Feelings don't care about your facts

Offline Yehuda25

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #227 on: July 01, 2018, 11:25:08 AM »
Because if there is supposed to be a 1099 then not filling one means it is not filed properly?
no 1099 needs to be issued here.
“To avoid criticism say nothing, do nothing, be nothing.”


― Aristotle

Offline churnbabychurn

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #228 on: July 01, 2018, 11:34:59 AM »
So the entire issue is, that Chase doesn't like Best Buy being taken advantage of, and hence will shut your account down in order to stick up for Best Buy, because Chase has morals?
The correct term is business ethics. But it's more than that.

Offline ExGingi

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #229 on: July 01, 2018, 12:22:25 PM »
They supposedly have morals
I should be ROTFLMAO reading this statement.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #230 on: July 01, 2018, 12:33:37 PM »
I should be ROTFLMAO reading this statement.
I guess he means Ayn Randian morals.
Feelings don't care about your facts

Offline ChaimMoskowitz

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #231 on: July 01, 2018, 02:02:27 PM »
I should be ROTFLMAO reading this statement.
...and this one:
Chase has no interest in being involved in anything shady.
I just found a new supply of forks!

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #232 on: July 01, 2018, 02:07:01 PM »
...and this one:
Yeah but when it comes to these bank accounts it is true in a very simplistic way.
Feelings don't care about your facts

Offline yitrap

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #233 on: July 01, 2018, 02:27:42 PM »
I've been using Chase business for a buying group for the past 2 years with zero issues. It's absolutely no different then any other business that buys things from their vendors and issues them payments.

Items are bought at a price which is their cost  plus commission, 1099's aren't needed for that.

I advise all my vendors to open a business account and file taxes on whatever profit they make from their business, I actively discourage vendors from taking a check made out to CC companies.

Offline ChaimMoskowitz

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #234 on: July 01, 2018, 02:32:50 PM »
Yeah but when it comes to these bank accounts it is true in a very simplistic way.
The first thing that came to mind when I read that was the sub-prime mortgage crash.
I just found a new supply of forks!

Offline ChaimMoskowitz

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #235 on: July 01, 2018, 02:35:13 PM »
I've been using Chase business for a buying group for the past 2 years with zero issues. It's absolutely no different then any other business that buys things from their vendors and issues them payments.

Items are bought at a price which is their cost  plus commission, 1099's aren't needed for that.

I advise all my vendors to open a business account and file taxes on whatever profit they make from their business, I actively discourage vendors from taking a check made out to CC companies.
Good advice but how many are following it (not your problem)?
I just found a new supply of forks!

Offline yitrap

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #236 on: July 01, 2018, 02:37:02 PM »
Good advice but how many are following it (not your problem)?
Most of my vendors, then ones that don't eventually come back and ask my for my records for their accountant.

Offline Yehuda25

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #237 on: July 01, 2018, 04:13:24 PM »
I've been using Chase business for a buying group for the past 2 years with zero issues. It's absolutely no different then any other business that buys things from their vendors and issues them payments.

Items are bought at a price which is their cost  plus commission, 1099's aren't needed for that.

I advise all my vendors to open a business account and file taxes on whatever profit they make from their business, I actively discourage vendors from taking a check made out to CC companies.
I wish you best of luck with chase.
“To avoid criticism say nothing, do nothing, be nothing.”


― Aristotle

Offline yitrap

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #238 on: July 01, 2018, 04:31:28 PM »
I wish you best of luck with chase.
I lost my cards a while ago. Got nothing to lose with them and I'm a good business client.

Offline Yehuda25

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Re: PSA: DO NOT BANK WITH CHASE OR YOUR CREDIT CARDS MAY GET CLOSED!
« Reply #239 on: July 01, 2018, 04:33:00 PM »
I lost my cards a while ago. Got nothing to lose with them and I'm a good business client.
except your biz account, which i hope they dont touch.
“To avoid criticism say nothing, do nothing, be nothing.”


― Aristotle