Originally Posted by
minimum
[MENTION=890322]robchow[/MENTION] There was no chance to explain anything. BoA cards stopped working yesterday and I called today, all my accounts are already restricted. Rep told me it was a "business decision" and it cannot be reverted.
The selling proceeds were going into my BoA business checking account and used to pay BoA premium rewards CC directly. I'm not sure if this matters.
[MENTION=732566]hi55us[/MENTION] Yes those $400K were all on BoA credit cards. I have a bit more on other cards with other banks but 2.625% was too good.
Originally Posted by
robchow
Have you explained to BofA that you were purchasing merchandise for your business?
I think the "low margin reselling" business is one type of the MS. You could buy GCs or any other type of merchandise and resell at profit. The CC reward is the catalyst of this "business".
If you use AmEx business charge CCs (green, gold or plat) to buy the merchandise (clothes, toys etc) and I do not think AmEx cares about your earning the reward. That is legit business spending. And you do not even need to cycle your CL.
I'm just curious as to what you were buying.