2017 Shutdown Thread

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This is the thread for 2017. The 2018 discussion can be found here.

When reporting/posting here please give as many details as you can or you will be asked for it anyways. Copy and paste the text below and alter as needed.

1. SHUTdn by Bank, Credit Card info. (@m3x, chs3 ,c1t1 and [email protected])
2. Length of account before closure and CL?
3. Average monthly account balance checking and savings?
4. Volume of ms per month and how many months?
5. Cycle CL?
6. Did you BP using both options?
- BP by issuing bank (@m3x, chs3, c1t1 and [email protected])
- BP by Vis/MC
7. Did you spell out the bank's full name in an internet forum?
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Old Jan 5, 17, 5:52 pm
  #1  
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Join Date: Feb 2015
Posts: 187
2017 Shutdown Thread

Moderator Note: This thread is a continuation of http://www.flyertalk.com/forum/manuf...wn-thread.html


Five days into the year, and no shutdowns to report yet!

I assume the same is true for all of you since the 2016 thread has nothing for January.

Fantastic!

Let's keep it that way. May this be the only post in here for the year.

Last edited by cbn42; Jan 6, 17 at 2:51 am
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Old Jan 6, 17, 1:08 pm
  #2  
 
Join Date: Dec 2013
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Sorry to break the streak here and I know this technically falls under 2016 but my Cap One Spark Biz got shutdown in early Dec 2016 due to activity "past or prior use inconsistent with personal, household or business-related purposes".

To be fair I had the card for about 2 years and was using it mainly to buy Simon GCs and Visa Buxx loading to maximize my 2% spending as well as normal spending that didn't fall into categories for the 2%. It didn't bother me too much since I was not using the Spark card much anymore due to the Fidelity Amex 2% card changing to a Fidelity Visa 2% card back in June 2016 which I now use to load Visa Buxx. Also my anniversary was in Jan so it saved me for the $39 AF.

What hurts the most is the hit to my CS since my CL was in the mid-5 figures for the Spark card and Capital One for some reason reports Biz Cards on your credit report. However the only good thing is on Credit Karma, it shows that Capital One reported in the Remarks section of "Account closed by consumer request" to Transunion and Equifax. Unlike Amex which reported in the Remarks section "Account closed by credit grantor" for my OBC shutdown back in Dec 2015.

Last edited by ericdabbs; Jan 6, 17 at 1:20 pm
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Old Jan 6, 17, 1:31 pm
  #3  
 
Join Date: Dec 2015
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Originally Posted by ericdabbs View Post
Sorry to break the streak here and I know this technically falls under 2016 but my Cap One Spark Biz got shutdown in early Dec 2016 due to activity "past or prior use inconsistent with personal, household or business-related purposes".

To be fair I had the card for about 2 years and was using it mainly to buy Simon GCs and Visa Buxx loading to maximize my 2% spending as well as normal spending that didn't fall into categories for the 2%. It didn't bother me too much since I was not using the Spark card much anymore due to the Fidelity Amex 2% card changing to a Fidelity Visa 2% card back in June 2016 which I now use to load Visa Buxx. Also my anniversary was in Jan so it saved me for the $39 AF.

What hurts the most is the hit to my CS since my CL was in the mid-5 figures for the Spark card and Capital One for some reason reports Biz Cards on your credit report. However the only good thing is on Credit Karma, it shows that Capital One reported in the Remarks section of "Account closed by consumer request" to Transunion and Equifax. Unlike Amex which reported in the Remarks section "Account closed by credit grantor" for my OBC shutdown back in Dec 2015.
Sorry to hear about that! Could you elaborate a bit on your OBC shutdown though (can't find anything in your post history) - was it an uncapped OBC or did it have the 50k cap? Just got "new" OBC with the cap - which I was planning to max this year - so curious if that would be any cause for concern.
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Old Jan 6, 17, 2:36 pm
  #4  
 
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Originally Posted by bodiddely View Post
Sorry to hear about that! Could you elaborate a bit on your OBC shutdown though (can't find anything in your post history) - was it an uncapped OBC or did it have the 50k cap? Just got "new" OBC with the cap - which I was planning to max this year - so curious if that would be any cause for concern.
I had the uncapped OBC back in 2014 which I had for about 12 months before the shutdown. I haven't looked at the "new" OBC since I was focused on some on some lucrative cards in 2015/2016 (ex: Ink, WF 5%, Fidelity Amex/Visa, CSR, CSP, etc). I may look at it in the future when things calm down with Amex.

In terms of concern for shutdown, I wouldn't worry about it because your max rewards is capped and Amex knows the maximum benefit it will have to shell out which I am sure they have done the analysis on it. With the uncapped OBC, people were going nuts on that card and I wouldn't be surprised if ppl were earning 5 figures in rewards/month back then.
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Old Jan 6, 17, 5:00 pm
  #5  
jk2
 
Join Date: Dec 2010
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Well, first "real" shutdown of 2017 - Citi checking - just received a noticed that they will close my account in 10 days.
I opened it in August 2016 (my previous Citi checking/CC account were shutdown in October of 2015) for $400 bonus. Deposited $20K and didn't do anything unusual - small purchases (~$1-$3), bill payments to my CC. Got a $400 last month, downgraded my account to basic checking with next move to close an account, but they did it before I did. The letter didn't say anything except they could do it anytime. What went wrong - I don't know. No MO deposits, no transfers. Probably, old history (last month I applied for the Hilton card and was denied due to bad history with Citi - may be it triggered?).
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Old Jan 6, 17, 5:44 pm
  #6  
 
Join Date: Dec 2015
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Originally Posted by jk2 View Post
Well, first "real" shutdown of 2017 - Citi checking - just received a noticed that they will close my account in 10 days.
I opened it in August 2016 (my previous Citi checking/CC account were shutdown in October of 2015) for $400 bonus. Deposited $20K and didn't do anything unusual - small purchases (~$1-$3), bill payments to my CC. Got a $400 last month, downgraded my account to basic checking with next move to close an account, but they did it before I did. The letter didn't say anything except they could do it anytime. What went wrong - I don't know. No MO deposits, no transfers. Probably, old history (last month I applied for the Hilton card and was denied due to bad history with Citi - may be it triggered?).
What was your previous "bad history" with Citi?
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Old Jan 6, 17, 6:31 pm
  #7  
 
Join Date: Jan 2016
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Originally Posted by bodiddely View Post
What was your previous "bad history" with Citi?
wat r u the bad history popo?
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Old Jan 6, 17, 7:14 pm
  #8  
jk2
 
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Originally Posted by bodiddely View Post
What was your previous "bad history" with Citi?
account were closed by bank (MS activity), i don't think there is need for explain.
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Old Jan 11, 17, 1:16 am
  #9  
 
Join Date: Oct 1999
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Just had a recurring transaction on my Arrival+ declined. Logged on and discovered that both it and my Aviator Silver have been closed.

UPDATE: Just looked at my Arrival+ statement, which closed on the 8th. Revolving/Cash lines are listed as zero. However, there's nothing on the statement itself saying the account is closed or that there are any other issues. Meanwhile, my most recent Aviator Silver statement had news that I'd been awarded a CL increase.

Not sure if this DP will help, but I've long paid both of these accounts using WMBP (as generic MC with the $1.88 fee). However, I'd recently paid them under barclaycard ($1 fee). I had 3x$1999 payments on the Silver that posted all on the same day last month (before the statement where they awarded me a CL increase closed).

Last edited by Carl; Jan 11, 17 at 1:30 am
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Old Jan 11, 17, 11:01 am
  #10  
 
Join Date: May 2015
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Originally Posted by Carl View Post
Arrival+ declined. Logged on and discovered that both it and my Aviator Silver have been closed.
I've long paid both of these accounts using WMBP (as generic MC with the $1.88 fee).
WMBP = Kiss of Death
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Old Jan 11, 17, 12:18 pm
  #11  
 
Join Date: Jan 2007
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Originally Posted by ericdabbs View Post
Sorry to break the streak here and I know this technically falls under 2016 but my Cap One Spark Biz got shutdown in early Dec 2016 due to activity "past or prior use inconsistent with personal, household or business-related purposes".
Did you use WMBP frequently to make payments?
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Old Jan 11, 17, 1:35 pm
  #12  
 
Join Date: Dec 2013
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Originally Posted by BigYellowDog View Post
Did you use WMBP frequently to make payments?
I just want to clear the air since I have been getting several PMs regarding frequent WM BP payments and Spark shutdown and I am getting tired of responding to the same posts. The answer is a big fat NO! especially if Cap One was looking at recent activity.

I have not done WM BP on the Spark card for over 1.5 yrs and even when I did do it, I probably only did WM BP 2 times ever on the Spark card. I highly doubt that was a driving force. I seriously think Cap One looked at my "business expenses" which did not fall under their interpretation of the usage of the card and closed it. I also wrote in my OP post that I have not used the card for like 5 months so it could also have been due to inactivity.
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Old Jan 11, 17, 6:23 pm
  #13  
 
Join Date: Jan 2007
Location: Denver, CO
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Originally Posted by ericdabbs View Post
I just want to clear the air since I have been getting several PMs regarding frequent WM BP payments and Spark shutdown and I am getting tired of responding to the same posts. The answer is a big fat NO! especially if Cap One was looking at recent activity.
Appreciate the follow-up.
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Old Jan 11, 17, 10:55 pm
  #14  
 
Join Date: Jul 2012
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C1 quicksilver converted from venture years ago. 1 $5 charge last month, before that not much activities. Closed both sparks over 1 year ago when the fees are up.

Did some ms via AGC/portal years ago, not recently. Guess they are going back and looking up history.

Restricted...closed

at least they paid out my $0.05 in rewards before they closed it.

Last edited by teddy25; Jan 12, 17 at 9:12 am
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Old Jan 13, 17, 2:51 pm
  #15  
 
Join Date: Dec 2015
Posts: 121
My arrival+ just got shut down along with my other cards from that same bank. I have done MS and maybe 2x CL per month. I have never made a payment with WMBP. Hope this helps someone.
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