IANAL but I'm pretty sure they couldn't call in the mortgage note as part of a CC shut down. Far too many consumer protections when dealing with a mortgage, especially if it is backed by the Govt.

Would they like to have the house in their portfolio.. Maybe MSrs need an underwater loan to protect :rolleyes::rolleyes::rolleyes:

Chase shutdown all my cards last week. It was a sad day for me.
ink card and 4 personal cards
Use ink for about 1K a month usually and when there are offers, i went upto to 3K in the week several times. Do not use for non bonus catagory much, may be <5%.
With recent offer, I went upto $8K at Office Depot. Never exceeded credit limit and I have about 80K limit on all cards together.
Used to do WM bill pay once in two months.
Made 5 payments last month.
So it is either the increased $8K OD spend or 5 WM payments or combination triggered it.
They refunded prorated annual fee on all cards.

I still have checking account with them with 10K balance. No MO deposits ever. Very inactive account. Not sure if they shut down checking or not. Online does not indicate any.

I called one of the card and they have no info as why they shutdown other than saying the relationship ended. Gave an address to write if I need more info.

Questions:
1. Should I write to chase asking for details of shutdown or wait for their correspondence in mail?
2. Any way to apepal and any chance I get accounts back? I am really going to miss ink.
3. My ink cards show 10K points pending for current period. Do I get them? Can I force them to award those points?
4. I read somewhere that someone got an approval for new card in a year or two. Does it mean there may be a chance for me to get back with them in a year or two? What advise I have here.

You'll never know which one thing triggered the manual review, but my guess is the 5 wal mart bill pays in one cycle. 5 payments in a month is probably bad in itself. I don't necessarily think $8k at OD is bad on it's own. But if you had more than 4 identical transactions numerically at OD in 7 days, it could have triggered the manual review. Identical transactions can mean something is fishy to financial institutions.

That doesn't sound too risky, but I'm sorry to hear that Chase viewed it otherwise. Did you recently run up a lot of debt on other unsecured credit cards? That could mean as simple as high statement balances posting to your credit report, even if you paid them to zero the following day.

No unusual activity on any other cards and never more than 5K outstanding balance on all cards combined. I have about $250K credit line across all banks combined.

Perhaps your INK business card transactions over time did not look "normal" for a real business. Try to manage your "business" transactions so that they pass a cursory sniff test. Banks hate it when your business card usage pattern looks like you are giving them the business. :cool:

Citi Shutdown 2 weeks earlier. Now Chase too
 

I was doing mostly MS as opposed to churning cards. Lots of billpay, some MO.
No MO deposits at Chase for over 1 year.

It started with Citi shutting down 3 cards - 2 weeks back. Citi AA personal and Biz. I think the culprit was too many billpay per cycle (4-5 bill pay at WM per cycle).

Just came back from a 5 day long weekend trip where i used my Chase Freedom card in dining. Tried to use it today and found Chase Freedom + Chase UA + Chase Ink + Chase Marriott all cancelled. I hit my 50 K limit on my Chase INK card in final days of membership year so its not like I hit the limit in 4 months !!

I was also using Chase Ink heavily in in non-bonused spending so its not like i was only doing bonus spending. Anyways, really sad today.

Just transferred out 432K Ultimate Rewards points before any further issue occurs. 192K to Singapore Airlines and remaining 240K to United.

I am going to be slowing down real hard on the MS now. :eek:

Yes. In your first post I thought you had done ONE cycle of 5 bill pays. If you were ramping this up and doing 5 bill pays at walmart for several cycles this in my mind definitely pulled the plug.

I agree that you shouldn't be doing non "business" transaction with business cards, just not too sure why anyone would do a bill pay with the card...

From personal experience they don't call in the mortgage. Everything else (personal and business checking and credit cards) is fair game.

I need an advise to keep me from shutdown. I usually pay my bills before statement cut to avoid high utilization. Unfortunately, I missed a statement cut on one of the cards (CL is $1.5K, using it one per month to complete requirements for checking account) and the balance on the card was $1K which is 67.5% utilization. I paid the bill, but damage was made (-17 pts on EQ from creditkarma). Now I worry if other banks could see it (especially big banks, since they pull reports almost monthly). Should I lay low and not to apply for any cards or doing MS for few months? I am really worried.

So you paid it off and the next month your score will go back up again. Don't stress over our score monthly, there are bigger issues to worry about.

Thanks. My concern is that such mark (even only on individual account) may be noticed by other banks and there problems may appear. But overall total utilization among all accounts is < 1%.

If that is what concerns you, now imagine 90% of the United States, which never pay their CC statements in full or if they do, they do it after they get the paper statement. They will all be hit hard by the banks.

No, banks do not have time to be checking your exact FICO score every month. They have better things to do like charge interests and lend money. Stop being so paranoid and just chill and enjoy life. Be thankful you are part of the small % of people that can pay its CC balance in full and get points/miles for doing so without getting hit with interest/fees.

So what is your concern? You planning on getting a loan, mortgage or other CC? If not don't worry about it. IF you are, then wait 30 days....

Why would identical transaction amounts cause concern? Don't business often have recurring orders? And speaking of gift cards... Aren't they valid business expenses? And, don't business card expenses typically have different patterns than personal cards?

Actually, a lot of banks will soft pull fairly frequently to check up on you. It's certainly not a human looking, but a computer does glance at your reports fairly regularly.

Amex has been well known for this, and other banks are following suit. Pull a credit report and look in the section "Inquiries Shared Only With You". Some of these will be from credit monitoring services/insurance, etc, but you better believe when you see one of your banks in there, the computer does some sort of calculation on the fly to decide if the person in question should be looked at more closely.

Totally agree here. My credit score dipped 50-55 points after high utilization on ONE card. No worries, bounced right back. I am fine running high utilization unless planning to apply for credit cards. I have noticed NO ill effects and don't think banks concerned as long as paying it off.

I focus paying off the small amounts before statement closes as well as any balance over 30%, but sometimes, I rather have the float.

Regular soft pulls by banks are usually done to do a Change in Terms to raise your interest rate, which has no affect if you pay in full each month.

Where did you see your credit score dropped 50-55 points? On a cc statement? On CK?

CK is useless for scores. Pay attention to scores on your statements. The last I used CK my score was hundreds of points less than my real credit scores.

CK FAKO can be useful for trending. Also, the FICO reported by some credit cards is not updated on a regular basis and can be stale. :cool:

My CK scores are pretty much the same with all the other sources that I've seen, including many that should be real FICO scores. Say, 10-25 points different at most, which can be explained just by different scales used.
So, YMMV, and like AlohaDaveKennedy at least they can be useful for trending.

CK going down while real FICO flat and/or going up ... Very useful :D:rolleyes:

Its all in the timing of when the credit information is pulled. Real FICOs offered by credit card issuers do not necessarily mean realtime FICOs.:cool:

They must be a few years behind CK.. Lol

Ask uR mAGic 8 ball and u hv a CK score

:rolleyes:

If you don't care about CK scores, good for you. No one makes you use them.
But they can, and are, useful in many instances.

FYI for everyone wondering mortgages on your personal residence are not callable so just keep making your payment and you'll be fine.

Citibank just shut down myself and rest of family even those that have no MS.

Any idea why?

I pushed payment to one of my credit cards from 3 of my banks. That's the only possible thing I can think of...

If you look at 1Percentclub's very first post it may provide some insight

from http://www.flyertalk.com/forum/manuf...l#post25718913
Wow!

I was shutdown by Barclays along with SO in July 2015. Does anyone know when it's safe to apply for Barclay cards again?

I love that its detailed down to the cent and that there is the note that he took a few days off, lol. I have no idea how that amount was even possible unless its a tashir like strategy. I did 1/3 that volume one month and it nearly killed me

Got a complete shutdown smackdown from BOA today. Totally unsuspected

It is my main bank I deposit MO to, although I do a ton of "regular" spend and bank payments from the account too. Very strange.

Probably doing average of 10k/mo over last 4 months, however last year routinely did 50k/month when I had better MS options.

This blows. Language in the letter was pretty strongly worded. No specifics. Just a total shutdown in 30 days, no reconsideration. Not even a person to contact or number. Ouch.

Let's just face the facts - MS customers don't bring in as much profits to the banks as pigeon customers they can screw by opening fraudulent accounts, gaming their interest rates or illegally foreclosing on their homes. Why would bankers show favor to MS folk when the ML folk bring in more money?
How many times have we heard pushback on legal money order deposits while the same banks have been caught with their hands dirty laundering money? When BoA was found to be involved in Mexican drug money laundering in 2012 they sure as hell were not getting that cash from legal money order deposits. :p

Bank actions vary. Some give you a call and just advise no MO deposits but do not proactively shut down accounts. Some shut down deposit accounts, but leave credit card accounts open. Others shut down deposit accounts, then credit accounts.

It is not unheard of for bankers to go on a witch hunt trying to kill off SO or family member accounts, even if they have never had any MS. Remember, bankers knee deep in money laundering will always cover their asses by showing the auditing types they are actively shutting down "suspicious" accounts. Not money laundering accounts, mind you, these never get shut down until someone blows the whistle and the banks get caught red handed. :eek:

BTW, my Seattle bank got caught incentivizing phony new accounts in the early 1980s so don't think Wells Fargo was innovative with their recent fraud.

Not a fan of wells? ;)