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Originally Posted by MaxVO
(Post 30061705)
That's a lot of driving, and will not help according to earlier DPs. Shut down decisions come from the back office, and being known or visible to front line tellers makes no difference.
Driving wise, unless you have an ATM at home... j/k. True, this would make a difference in areas where a branch isn't nearby but an ATM is. |
Chs3 total shutdown
In January, I got a dear-john letter from Chs3 telling me that they were terminating our relationship, and that I had 30 days to remove all my funds. I had -
Occasional RS and no MS on the cc's. Occasional MO deposit of $3-5k in my personal checking, one or twice a month. The only "unusual" activity preceding the invitation to leave was the deposit of a cash-advance check from one of the chs3 cc's, for $5k (against a 50k CL). The Dear John letter came 2 weeks later. Talked to my personal banker in branch, and she was quite unhappy about it (we'd been discussing a refi on an 800k mortgage), but she said there was nothing she could do about it. Called the exec office twice, looking for an explanation. I was told both times that a letter was on its way, but I never received any further explanation for chs3's action |
With Chase, is there any reason to be careful with meeting the minimum spending requirements? I know that the consensus is that with AMEX and US Bank, you generally want to meet that minimum with "real" spending, and not by buying gift cards. I have a new Chase card (pretty rare for me), and I obviously don't want to get "in trouble" with my other accounts while I get my new account bonus.
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Originally Posted by iahphx
(Post 30097557)
With Chase, is there any reason to be careful with meeting the minimum spending requirements? I know that the consensus is that with AMEX and US Bank, you generally want to meet that minimum with "real" spending, and not by buying gift cards. I have a new Chase card (pretty rare for me), and I obviously don't want to get "in trouble" with my other accounts while I get my new account bonus.
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Originally Posted by jeffeverde
(Post 30097536)
In January, I got a dear-john letter from Chs3 telling me that they were terminating our relationship, and that I had 30 days to remove all my funds. I had -
Occasional RS and no MS on the cc's. Occasional MO deposit of $3-5k in my personal checking, one or twice a month. The only "unusual" activity preceding the invitation to leave was the deposit of a cash-advance check from one of the chs3 cc's, for $5k (against a 50k CL). The Dear John letter came 2 weeks later. Talked to my personal banker in branch, and she was quite unhappy about it (we'd been discussing a refi on an 800k mortgage), but she said there was nothing she could do about it. Called the exec office twice, looking for an explanation. I was told both times that a letter was on its way, but I never received any further explanation for chs3's action |
maybe regular spend?
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Originally Posted by Happy
(Post 30099066)
What does "RS" activity mean?
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Originally Posted by jeffeverde
(Post 30097536)
In January, I got a dear-john letter from Chs3 telling me that they were terminating our relationship, and that I had 30 days to remove all my funds. I had -
Occasional RS and no MS on the cc's. Occasional MO deposit of $3-5k in my personal checking, one or twice a month. The only "unusual" activity preceding the invitation to leave was the deposit of a cash-advance check from one of the chs3 cc's, for $5k (against a 50k CL). The Dear John letter came 2 weeks later. Talked to my personal banker in branch, and she was quite unhappy about it (we'd been discussing a refi on an 800k mortgage), but she said there was nothing she could do about it. Called the exec office twice, looking for an explanation. I was told both times that a letter was on its way, but I never received any further explanation for chs3's action |
Originally Posted by devastitis
(Post 30105739)
That cash advance check may have triggered them to review your account, but I’m fairly certain the MO deposits were what caused the shutdown. Time and time again, we have to warn people not to s* where you eat. $6k - $10k of MOs a month is very risky behavior, and ch@s3 is notoriously risk averse. I figured that having a 100k sitting in a chs3 savings account for 3 years would have dispelled any concerns that the compliance dept might have had, given my fairly low MS activity at chs3. But obviously not.. |
Are there any data points of people getting shut down for double dipping two chase cards on the same day (CSP/CSR and SW/SW)? |
Well it stinks to hear of so many shut downs and how these all happen but having just found this thread (I am not on fr like I used to be) I gotta tell ya’ll... I am quite amazed once again as to how people are about things. I sympathize with many here who were shut down and it is a wrenching feeling to have it hapoen when you know you just followed their own terms and conditions but they just didn’t like you around anymore. i have done heavy ms since 99. Not as heavy as some (some bankrolled with huge sums of money and leveraged dicounted travel whereas many others would master small ball and get free travel back in te day). Years ago —and I will try to find the theead or maybe someone here can— I posted a list of what I was shut doen from and got shite on by soooo many people it was frustrating. They all claimed it was all me, it never happens, I must have been doing sometbing illegal, or that I was even bragging that it happened! None of thrse were the case. The facf is, for reasons of tbeir oen, each bank and store and cc has its own reasons for doing a ban and they are not always right or logical but they do em just the same. But no one understood that or wanted to admit that yet—when I had posted my shut downs back then. Now it’s a thing it seems. It’s finally ok to have it happen to you. Welcome to the club. Where ya been? There was even a forum not related to ft I joined that had many of our kind on it but they too shunned some ms and some even found a way to twist things around to shut me out of there too. Well there were some high brow narcissistic types in the group so there’s that... but It is interesting how people can turn... either ob you when they assume you have done sonerhing they don’t like or susdenly with you when the same thibg hapoens to them. That part of this, and this thread, is laughable. Sorry, but if you see it from my angle it really is. I almost feel how you would if you, say, came into a whole lotta money and then a bank learned of this and now wanted you back in. How would you react to that? All that said, I am shut from the following: bofa — never do heavy ms where you also have family investments. Merrill Lynch and bofa merged. Merrill saw and wondered and did not like ms and they initiated the shutddown of my bofa. I mived everything to fidelity and needless to say I have not gotten their 2x cc. Yet citi. I still have their equity line and they are happy I do but banks and cc shut me cap one but I think you can get back in after siz months Wells fargo all the ms vehicles like bluebird and all those prepaid things we all used to get. A walmart near me where they started thinking ms was evil. I think they wont sell anyone a mo anymore to be honest. Some small local or new england banks and also Pypal. The amex blue and a td bank 5x cc but those died for everyone and I still have amex cards and accts with td bank. so those were product shut downs. in the end, it seems still true that if you do volume it can hapoen to you. If you do not, it might not happen. But what is “too much” and who determines this? You can be the nicest person to clerks and managers and let orher customers cut in front of you when doing ms or whatever, but a store could still say no more. You could get legal on some company and they could suddenly be ok with you again. It’s all totally subjective. And what about when you don’t go hard and then a thing dies and you wished you had cuz it was dying anyway? Of course just cuz something dies for you doesnt mean it’s dead for others so please don’t blog about it. Anyway, I have said enough for now. Let the trolling and bashing begin. :)mm |
Long time, no see on FT. Indeed, bank closures are wholly subjective and all about perception and risk tolerance. Many MS folk get shut down while ML folk do not. Perhaps this is due to MS folk not paying bribes and kickbacks, like the MS folks?
Originally Posted by Marathon Man
(Post 30114198)
Well it stinks to hear of so many shut downs and how these all happen but having just found this thread (I am not on fr like I used to be) I gotta tell ya’ll... I am quite amazed once again as to how people are about things. I sympathize with many here who were shut down and it is a wrenching feeling to have it hapoen when you know you just followed their own terms and conditions but they just didn’t like you around anymore. i have done heavy ms since 99. Not as heavy as some (some bankrolled with huge sums of money and leveraged dicounted travel whereas many others would master small ball and get free travel back in te day). Years ago —and I will try to find the theead or maybe someone here can— I posted a list of what I was shut doen from and got shite on by soooo many people it was frustrating. They all claimed it was all me, it never happens, I must have been doing sometbing illegal, or that I was even bragging that it happened! None of thrse were the case. The facf is, for reasons of tbeir oen, each bank and store and cc has its own reasons for doing a ban and they are not always right or logical but they do em just the same. But no one understood that or wanted to admit that yet—when I had posted my shut downs back then. Now it’s a thing it seems. It’s finally ok to have it happen to you. Welcome to the club. Where ya been? There was even a forum not related to ft I joined that had many of our kind on it but they too shunned some ms and some even found a way to twist things around to shut me out of there too. Well there were some high brow narcissistic types in the group so there’s that... but It is interesting how people can turn... either ob you when they assume you have done sonerhing they don’t like or susdenly with you when the same thibg hapoens to them. That part of this, and this thread, is laughable. Sorry, but if you see it from my angle it really is. I almost feel how you would if you, say, came into a whole lotta money and then a bank learned of this and now wanted you back in. How would you react to that? All that said, I am shut from the following: bofa — never do heavy ms where you also have family investments. Merrill Lynch and bofa merged. Merrill saw and wondered and did not like ms and they initiated the shutddown of my bofa. I mived everything to fidelity and needless to say I have not gotten their 2x cc. Yet citi. I still have their equity line and they are happy I do but banks and cc shut me cap one but I think you can get back in after siz months Wells fargo all the ms vehicles like bluebird and all those prepaid things we all used to get. A walmart near me where they started thinking ms was evil. I think they wont sell anyone a mo anymore to be honest. Some small local or new england banks and also Pypal. The amex blue and a td bank 5x cc but those died for everyone and I still have amex cards and accts with td bank. so those were product shut downs. in the end, it seems still true that if you do volume it can hapoen to you. If you do not, it might not happen. But what is “too much” and who determines this? You can be the nicest person to clerks and managers and let orher customers cut in front of you when doing ms or whatever, but a store could still say no more. You could get legal on some company and they could suddenly be ok with you again. It’s all totally subjective. And what about when you don’t go hard and then a thing dies and you wished you had cuz it was dying anyway? Of course just cuz something dies for you doesnt mean it’s dead for others so please don’t blog about it. Anyway, I have said enough for now. Let the trolling and bashing begin. :)mm |
Originally Posted by AlohaDaveKennedy
(Post 30114719)
Long time, no see on FT. Indeed, bank closures are wholly subjective and all about perception and risk tolerance. Many MS folk get shut down while ML folk do not. Perhaps this is due to MS folk not paying bribes and kickbacks, like the MS folks?
it is possible ml people got involved at a more let’s say kickback level because banks etc needed to learn from them. Ms is not rocket science. The only hard part for those who do not partake in it is “how can they do and imagine this stuff?” Many neysayers to ms are moralists, psuedo ethics experts in their own minds, imposing their notions of what they see as right or wrong onto others, or hard chargers who cringe at any supposed success of others. Perhaps out of jealousy or maybe just the need to get off on someone else’s demise, these types love to stop those of us with the deal finding mindset now I have always touted that deal makers and those entities that put forth all that we exploit are for the most part kind of “ok with some of it” as long as we all keep quiet. But in their defense I can almost see why many places shut down msers who blog, brag, be rude, or act entitled and loud in stores etc. we should never do this. As one wise mser once told me, it is better to be the super wealthy guy in the room who is wearing shorts and an old t shirt and only chatting with a couple people but no one knows who he is or what he has than to be the star on stage yapping about all the great ways to get rich. I had spoken at some miles meet ups in the past... about ways to do this craft and hush up about it. How to be a good steward of ms. Few took my advise. Now we see rampant stoppage and every store knows there’s some scam going on. Misinformed they may be but that’s what they believe. |
Originally Posted by Clueless12
(Post 30112290)
Are there any data points of people getting shut down for double dipping two chase cards on the same day (CSP/CSR and SW/SW)? |
Originally Posted by Clueless12
(Post 30112290)
Are there any data points of people getting shut down for double dipping two chase cards on the same day (CSP/CSR and SW/SW)? |
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