The 2015 Shutdown Thread
Jun 17, 2015, 11:03 am
#256
Suspended
Join Date: Nov 1999
Posts: 24,153
The CL is the amount of credit an issuer is willing to risk on you. Once you pay of the balance, there is no risk for the first batch of 9K in charges. Not seeing any issue at all. If they want to close the account, it is one thing. But to confiscate the rewards is outright theft.
Didnt Chase have that problem since I think they closed accts the person lost their UR pts and Chase was sued and lost, since it never said theyd lose the pts. Also next time you want to cashin some UR pts its in RED now that if you transfer them to an acct that doesnt match up to you,your acct can be shut and you will lose all the pts
I will agree with you if a person opened it up when that wasnt a part of the T&Cs and never agreed to them(usually a letter is sent or a note on the statement that continued usage of the CC is accepting the new T&Cs) and never accepted them that those rewrads shouldnt be taken away, but for everyone who in 1 way or another accepetd the T&Cs and it says you will lose all the rewards if the acct is shut down, then I disagree with you
So its outright theft only if its not in their T&Cs, otherwise tred lightly and dont pay down the CC before its closes and charge it up again , keep it at the CL level or just above so a $9K CL is used up and paid off then dont charge even $1k(if it looks like MSing) till the statement is closed
Jun 17, 2015, 12:24 pm
#257
FlyerTalk Evangelist
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 10,041
The CL is the amount of credit an issuer is willing to risk on you. Once you pay of the balance, there is no risk for the first batch of 9K in charges. Not seeing any issue at all. If they want to close the account, it is one thing. But to confiscate the rewards is outright theft.
Jun 17, 2015, 3:52 pm
#259
Join Date: Oct 2014
Posts: 503
PNC just closed my checking account. Was depositing about $20k/month in MO for about a year and a half.
Jun 17, 2015, 6:00 pm
#260
Join Date: Jul 2014
Posts: 286
Not super relevant because they devalued but I got the boot from UFB (BofI) about 3 months ago.
I was doing a combo of pinging square cash back and forth between myself and my spouse, as well as buying MOs and depositing them in my UFB account.
I emptied my account within a week of receiving a letter (I had 30 days) and then called to close it so that I wouldn't have a negative mark on chexsystems.
Spouse's account is still up and running. I pushed it as hard as I could before June 1st. Not easy since they take over a week to credit deposits.
I was doing a combo of pinging square cash back and forth between myself and my spouse, as well as buying MOs and depositing them in my UFB account.
I emptied my account within a week of receiving a letter (I had 30 days) and then called to close it so that I wouldn't have a negative mark on chexsystems.
Spouse's account is still up and running. I pushed it as hard as I could before June 1st. Not easy since they take over a week to credit deposits.
Jun 23, 2015, 4:48 pm
#261
Join Date: Feb 2014
Posts: 908
So over the past month I opened a few checking accounts so that I can deposit money order.
Union Bank, BofA, Citi, US Bank, and East West Bank. (I already have Wells and Chase as my primary).
I opened Union Bank with like 4k in MO. Billpay Once funds were released. A few weeks later deposit like 5k in MO. Funds just released. I received a letter in the mail saying that I have till July 3 to withdraw my money. The letter mentioned something about chexsystem. Most likely they saw that I open a lot of checking account within a month.
Union Bank, BofA, Citi, US Bank, and East West Bank. (I already have Wells and Chase as my primary).
I opened Union Bank with like 4k in MO. Billpay Once funds were released. A few weeks later deposit like 5k in MO. Funds just released. I received a letter in the mail saying that I have till July 3 to withdraw my money. The letter mentioned something about chexsystem. Most likely they saw that I open a lot of checking account within a month.
Jun 28, 2015, 4:40 pm
#262
Join Date: Jun 2014
Location: Iowa
Posts: 122
This is why I never close down an unneeded checking account unless it's costing me money, because you never know when you'll need it again and they are a lot harder to open in quick succession.
But maybe in your case the "real" reason was $9k in MOs deposited to a brand new account over the course of a few weeks?
Jul 4, 2015, 8:29 am
#263
Join Date: Dec 2010
Posts: 1,516
Citi checking account was closed last week for me and wife. No activity on that account at all, just kept $1.5K+ balance to avoid fees. Only do a MS on citi cards. Very strange.
Jul 4, 2015, 1:19 pm
#264
Join Date: Feb 2014
Posts: 825
Not strange. Do some reading and you'll see that it is not uncommon for msers with checking and credit with the same bank to be shutdown.
Jul 4, 2015, 3:50 pm
#265
Join Date: Sep 2013
Posts: 156
Mine citi checking account closed. I did minimal MO activity. I called the number, reason was international wire transfer. I did 10 transfer last 8 months. CC are still active.
Jul 5, 2015, 12:50 am
#266
Join Date: May 2014
Posts: 191
May I ask how much money was transferred? Because I did five transfers this year as well. PM me if you don't want to give the info in public. Thanks!
Jul 5, 2015, 7:39 am
#267
Join Date: Oct 2009
Location: Land of the parrots and parrotheads
Programs: Several dozen
Posts: 4,820
WTTW, Citi seems to be getting a bit more active in AML regarding account activity over the past several weeks. 
Jul 5, 2015, 3:31 pm
#268
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,762
This is worse than Chase which called first if the reason of concern was international wire.
Jul 6, 2015, 5:18 am
#269
Join Date: Dec 2010
Posts: 1,516
MS is very minimal on my citi cards. Others suggest that because my checking account was like "dormant" (no activity), it was closed.