H/T to @konorth
I noticed the e-mail yesterday from Chase, but it didn’t really strike me as something meaningful. I’ll blame the jetlag. Take a look at the graphic for yourself. Nothing to see here, right?
@konorth had a fairly simple tweet that made me think to take another look.
Chase changing UR but gives us over a year notification on travel booking bonus +Clarifies what makes one lose points (churning for points).
— Karyn aka Cu (@konorth) September 5, 2014
So I took a look at the new terms. You can find them here.
Yes, things are changing as far as the travel booking bonus. But, something that jumped out at me (perhaps its this fascination with taxes of late), is this statement:
Your participation in the program may result in the receipt of
taxable income from Chase and we may be required to send to
you, and file with the IRS, a Form 1099-MISC (miscellaneous
income). You are responsible for any tax liability, including
disclosure requirements, related to participating in the program.
Please consult your tax adviser if you have any questions about
your personal tax situation.
This could just be a way of Chase to cover their bases in the future. It looks somewhat boilerplate too, so I did some searching and found an Ink Bold Terms and Conditions write-up from last year.
I don’t have any contacts at Chase, and I’m almost scared to pose the question, but why else would Chase introduce such a clause?
What do you think?