The 2016 Shutdown Thread
Jan 29, 2016, 4:18 pm
#61
Moderator: Travel Buzz
Join Date: Aug 2012
Location: Sunny San Diego
Posts: 3,098
Chase Bank unilaterally shut down all my credit cards and banking accounts yesterday. I think what triggered it was the high volume of staples vgc purchases on my ink cards. I was pushing $5k a month on each card. Fortunately I still have Amex cards and citi cards
1) An Apporama that would have increased your available credit lines?
2) Open a new Chase card?
3) Allow higher than usual balances to post on your credit report that would give the impression of a rapid increase in your credit card debt?
Jan 29, 2016, 5:31 pm
#62
Join Date: Aug 2015
Posts: 322
Chase Bank unilaterally shut down all my credit cards and banking accounts yesterday. I offloaded 743k UR points to Hyatt, United and southwest just now. I think what triggered it was the high volume of staples vgc purchases on my ink cards. I was pushing $5k a month on each card. Fortunately I still have Amex cards and citi cards
Jan 29, 2016, 5:34 pm
#63
FlyerTalk Evangelist
Join Date: Jul 2008
Location: IAH
Programs: DL DM, Hyatt Ist-iest, Stariott Platinum, Hilton Diamond
Posts: 12,789
Jan 29, 2016, 5:47 pm
#64
FlyerTalk Evangelist
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 10,034
Jan 30, 2016, 11:00 am
#65
Join Date: Jul 2014
Posts: 42
Did you recently do any of the following:
1) An Apporama that would have increased your available credit lines?
2) Open a new Chase card?
3) Allow higher than usual balances to post on your credit report that would give the impression of a rapid increase in your credit card debt?
1) An Apporama that would have increased your available credit lines?
2) Open a new Chase card?
3) Allow higher than usual balances to post on your credit report that would give the impression of a rapid increase in your credit card debt?
2 no
3 across my 6 cards, I Consistently kept volume to 3-5k a month. $15-20k a month total, my total limit per card was 20k per card. I would rotate the cards which I ms on. Given that, I kept monthly spend at less that 30% of limit.
Jan 30, 2016, 11:02 am
#66
Join Date: Jul 2014
Posts: 42
I didn't burn the points fast enough sure to Lack of pto. This was an residual accumulation over 3 years over 2 ink cards. We went on honeymoon and burned 400k points last year.
Jan 30, 2016, 12:34 pm
#67
Join Date: Aug 2015
Posts: 322
Staples sells $200 VGC for $6.95 that's almost 3.5% in acquisition cost. How do you make a profit with a card that offers 5% bonus? Unless staples had some discount which they do from time to time. $150K at staples is still lot of BURNING with 200 VGC.
Jan 30, 2016, 2:23 pm
#68
Join Date: Jan 2014
Location: SEA
Posts: 94
Chase Bank unilaterally shut down all my credit cards and banking accounts yesterday. I offloaded 743k UR points to Hyatt, United and southwest just now. I think what triggered it was the high volume of staples vgc purchases on my ink cards. I was pushing $5k a month on each card. Fortunately I still have Amex cards and citi cards
Jan 30, 2016, 2:32 pm
#69
Join Date: Jan 2014
Location: SEA
Posts: 94
Barclays closed all my cards this month. I was hitting the Travelocity Amex pretty hard, but barely over 1x CL. The Travelocity Amex is the rare Affiliate Amex that gives AUs individual card numbers. So I had multiple AUs each feeding their own Serve cards every month. Also milked any useful Amex Offers including using the Rewards Boost portal when applicable.
Crazy part is the shut down all accounts of anyone who was an AU on my card including spouse and my parents.
$1600+ in points are gone, but I've got their Executive Office working to get them back after an FTC complaint.
Miles per Day has a post on his similar Barclay shutdown as well. My theory is the Buxx and Serve house cleanings happening at the same time are not a coincidence and that there may be collusion between banks leading to shutdowns of accounts that have touched these products.
Crazy part is the shut down all accounts of anyone who was an AU on my card including spouse and my parents.
$1600+ in points are gone, but I've got their Executive Office working to get them back after an FTC complaint.
Miles per Day has a post on his similar Barclay shutdown as well. My theory is the Buxx and Serve house cleanings happening at the same time are not a coincidence and that there may be collusion between banks leading to shutdowns of accounts that have touched these products.
Jan 30, 2016, 3:11 pm
#71
Join Date: Mar 2015
Posts: 283
Barclays closed all my cards this month. I was hitting the Travelocity Amex pretty hard, but barely over 1x CL. The Travelocity Amex is the rare Affiliate Amex that gives AUs individual card numbers. So I had multiple AUs each feeding their own Serve cards every month. Also milked any useful Amex Offers including using the Rewards Boost portal when applicable.
Crazy part is the shut down all accounts of anyone who was an AU on my card including spouse and my parents.
$1600+ in points are gone, but I've got their Executive Office working to get them back after an FTC complaint.
Miles per Day has a post on his similar Barclay shutdown as well. My theory is the Buxx and Serve house cleanings happening at the same time are not a coincidence and that there may be collusion between banks leading to shutdowns of accounts that have touched these products.
Crazy part is the shut down all accounts of anyone who was an AU on my card including spouse and my parents.
$1600+ in points are gone, but I've got their Executive Office working to get them back after an FTC complaint.
Miles per Day has a post on his similar Barclay shutdown as well. My theory is the Buxx and Serve house cleanings happening at the same time are not a coincidence and that there may be collusion between banks leading to shutdowns of accounts that have touched these products.
Jan 30, 2016, 5:54 pm
#72
Join Date: Jun 2015
Posts: 1,727
Time to rethink AUs; at least with BC. I have a min spend promo for $x/month and I spend the exact amount on both cards with one transaction. Maybe I should add a penny next month or a second transaction. It's works out to be a one way tkt to anywhere on the world.
Jan 30, 2016, 11:01 pm
#73
Join Date: Jan 2013
Location: NYC
Posts: 415
It helps if you use the Visa Savings Edge program.
Jan 31, 2016, 6:14 pm
#75
FlyerTalk Evangelist
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 10,034
Next, 5 points per dollar and 5% aren't the same thing unless you value URs at 1 cent each.
Finally, there have been many other deals at Staples over the years.