Old Jan 2, 2018, 9:58 am
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This is the thread for 2018. The previous discussion can be found here.

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1. SHUTdn by Bank, Credit Card info. (@m3x, chs3 ,c1t1 and brcl@y)
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 brcl@y)
- BP by Vis/MC
7. Did you spell out the bank's full name in an internet forum?
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2018 Shutdown Thread

Old Feb 10, 2018, 10:29 am
  #76  
jk2
 
Join Date: Dec 2010
Posts: 1,511
Originally Posted by DeltaNeutral28
How much were you MSing on your BofA card? Don't know why they'd close your ME account and not your BofA card...
not much, 30-40% of CL - I have large CL on it. I also have a ME visa as well, I do some MS on it (50% of CL - 5K).
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Old Feb 10, 2018, 11:32 am
  #77  
 
Join Date: Dec 2017
Posts: 743
Were you withdrawing the proceeds to the ML account?
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Old Feb 10, 2018, 12:07 pm
  #78  
 
Join Date: Apr 2011
Posts: 90
Originally Posted by jk2
Today I received a UPS mail from Merril Edge that my investment account will be terminated in 1 month. I have $100K+ on that account, that gives me Preferred Honor status for my Bofa cards.

I am really shocked. What can trigger this? I don't do crazy activity on my investment account, just MS on Bofa cards.
wow, even when 100k in the account they still closed it? what is the actual CL?
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Old Feb 10, 2018, 12:36 pm
  #79  
jk2
 
Join Date: Dec 2010
Posts: 1,511
Originally Posted by OssianBlue
Were you withdrawing the proceeds to the ML account?
no, ML account was used just for occasional trades (regular stocks), and monthly $34 money transfer to another bank (for monthly DD purposes).
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Old Feb 10, 2018, 12:37 pm
  #80  
jk2
 
Join Date: Dec 2010
Posts: 1,511
Originally Posted by jamesflyertalk
wow, even when 100k in the account they still closed it? what is the actual CL?
ML Visa - $11K CL; Bofa Travel Rewards - $26K CL. Usually spend ~$6K on each card, monthly.
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Old Feb 10, 2018, 2:11 pm
  #81  
 
Join Date: May 2012
Posts: 674
Originally Posted by jk2
will they close them next?
<br />yes, it happened to me two/three years ago. I was not even MSing on BoA cards, but churned BoA AS cards.
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Old Feb 10, 2018, 7:08 pm
  #82  
 
Join Date: Sep 2017
Location: SFO/LAX/SAN/LAS/DFW/JFK/LGA/EWR/MIA
Posts: 1,073
Originally Posted by jk2
Today I received a UPS mail from Merril Edge that my investment account will be terminated in 1 month. I have $100K+ on that account, that gives me Preferred Honor status for my Bofa cards.

I am really shocked. What can trigger this? I don't do crazy activity on my investment account, just MS on Bofa cards.
like someone said, its the MS. i almost bet its a combo of various things you did. churn abuse? massive ramp up in accounts with bfoA or other banks? all your MS at GC.com? Simon? can you give us more of a complete roadmap of your stats? would be a huge help if u outlined a few things like the reddit chase shutdown thread (https://www.reddit.com/r/churning/co...rts_megathread). would help us see more of what happened.

but you are right to be surprised. BofA was never a heavy shutdown bank. but now, everyone abusing BofA so they are much wiser and can see an uptick in shady activity. its a sad time now. so much crap is being killed off daily.

Last edited by GundamWing01; Feb 10, 2018 at 11:44 pm
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Old Feb 10, 2018, 7:26 pm
  #83  
 
Join Date: Sep 2017
Location: SFO/LAX/SAN/LAS/DFW/JFK/LGA/EWR/MIA
Posts: 1,073
Originally Posted by mortalwombat
Same thing just happened to my SO. Flagged after a fraud alert via mobile pay. Accounts closed after the 10 day review. Trying to appeal now. There is no significant MS other than Freedom categories, no new accounts in 6 months, 4 accounts in last 12, 9/24. 7 inquiries total.
can you give us more detail about your SO? this sounds extremely unlucky when compared with other abusers who do way more than your stats. i dont get how freedom cat MS can shut u down with those numbers. good luck with the appeal and check out the chase shutdown megathread. a few got reinstated with stats totally worse than yours.

wondering a few things.
1) after adding CC to mobile, how long did you wait for the MS purchase? did you try to buy something immediately? is the CC new?
2) what did you try buying and how much? whats the CL? was it a clear uptick in spend?
3) did you clear the fraud alert by calling or via SMS or email? if you called, it could be eyes on account.
4) when did the account become suspended after the attempted purchase? how long did it take? when did the 10 day review start?

i hope you guys dont have the same address.
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Old Feb 10, 2018, 8:57 pm
  #84  
 
Join Date: Apr 2010
Posts: 137
Originally Posted by jk2
Today I received a UPS mail from Merril Edge that my investment account will be terminated in 1 month. I have $100K+ on that account, that gives me Preferred Honor status for my Bofa cards.

I am really shocked. What can trigger this? I don't do crazy activity on my investment account, just MS on Bofa cards.
Sorry to hear this.
Were you only MSing on your CC? Do you have any organic charges on your CC?
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Old Feb 11, 2018, 4:44 am
  #85  
 
Join Date: Aug 2012
Programs: WN DL SPG HGP HH
Posts: 28
Originally Posted by jk2
no, ML account was used just for occasional trades (regular stocks), and monthly $34 money transfer to another bank (for monthly DD purposes).
jk2 were your boa and ml accounts linked through the boa website or did you maintain separate logins at ml and boa?
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Old Feb 11, 2018, 6:28 am
  #86  
jk2
 
Join Date: Dec 2010
Posts: 1,511
Originally Posted by datch

jk2 were your boa and ml accounts linked through the boa website or did you maintain separate logins at ml and boa?

yes, they were linked. there was organic spend as well, since bofa travel cards are my regular card for general use.

My concern now will be any consequences from Bofa side? I worry about my credit cards from Bofa.

Last edited by jk2; Feb 11, 2018 at 7:50 am
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Old Feb 11, 2018, 4:43 pm
  #87  
 
Join Date: Sep 2017
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Originally Posted by jk2
yes, they were linked. there was organic spend as well, since bofa travel cards are my regular card for general use.

My concern now will be any consequences from Bofa side? I worry about my credit cards from Bofa.
you still havent given us any detail to speculate on what may happen to your accounts. see my prior posts. what did your UPS mailer say? it would help all of us and maybe even yourself if you provided more details. for all we know, you hit that crap so hard, investment AML KYC BSA kicked in first and closed risky exposure levels which is tied to SEC NASD FINRA regulation. which means your unsecured loans will also close ASAP with only slight delay. should you worry about your other bofA cards? um, probably. your entire account may get closed too if they are shutting down your 100k ML account first which is a liquid asset. hence, i was asking for more detail. not sure if pple here are assuming BofA and ML are two different companies tied loosely via online login? no. thats not how it works. bofa acquired ML in an all-stock deal worth $50 billion a decade ago due to the 2008 crisis. they are now BFF but legally separate entities.

Last edited by GundamWing01; Feb 11, 2018 at 4:53 pm
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Old Feb 11, 2018, 6:23 pm
  #88  
jk2
 
Join Date: Dec 2010
Posts: 1,511
Originally Posted by GundamWing01
you still havent given us any detail to speculate on what may happen to your accounts. see my prior posts. what did your UPS mailer say? it would help all of us and maybe even yourself if you provided more details. for all we know, you hit that crap so hard, investment AML KYC BSA kicked in first and closed risky exposure levels which is tied to SEC NASD FINRA regulation. which means your unsecured loans will also close ASAP with only slight delay. should you worry about your other bofA cards? um, probably. your entire account may get closed too if they are shutting down your 100k ML account first which is a liquid asset. hence, i was asking for more detail. not sure if pple here are assuming BofA and ML are two different companies tied loosely via online login? no. thats not how it works. bofa acquired ML in an all-stock deal worth $50 billion a decade ago due to the 2008 crisis. they are now BFF but legally separate entities.
UPS mailer says that according to the agreement, ML is exercising an option to close an account. And they give me few choices what to do with my investments - sell them, transfer to another account, etc. They give me 30 days to do so.
As I said before, I don't do any crazy activity on my bofa cards. MS was in form gc.com purchases, mixed with regular spend. I always paid off balances before the statement closes. No simon purchases, no active churning of cards. May be they didn't like an idea that parking $100K+ on ML gives you free trades, and also Preferred Honors status that gives 75% extra on earning points on Bofa Travel cards.

BTW, ML account was joint account with my wife, who also has 2 Bofa cards, which were used to MS - 6K each on 30K CL limit. So, in total we MS on 4 cards from Bofa.
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Old Feb 12, 2018, 1:14 am
  #89  
 
Join Date: Sep 2017
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Posts: 1,073
Originally Posted by jk2
UPS mailer says that according to the agreement, ML is exercising an option to close an account. And they give me few choices what to do with my investments - sell them, transfer to another account, etc. They give me 30 days to do so.
As I said before, I don't do any crazy activity on my bofa cards. MS was in form gc.com purchases, mixed with regular spend. I always paid off balances before the statement closes. No simon purchases, no active churning of cards. May be they didn't like an idea that parking $100K+ on ML gives you free trades, and also Preferred Honors status that gives 75% extra on earning points on Bofa Travel cards.

BTW, ML account was joint account with my wife, who also has 2 Bofa cards, which were used to MS - 6K each on 30K CL limit. So, in total we MS on 4 cards from Bofa.
appreciate the detail. its starting to make a bit more sense, altho i am still very shocked at the ML response vs your "low" volume. times have changed. unfortunately, "low volume" and "dont do crazy activity on BofA CC" is very subjective. depends on who you ask. ive seen idiot posts about how some think 50k/mo MS on a CC is "not much". yea, not much relative to others who do 100k+/mo but a bank will still see that crap. SMH. anyway, let me get this straight, so you have 4 CC w/ BofA w/ the wife and usually spend ~$6K on each card, monthly? so 24k total from GC.com monthly? no churning AS CC abuse?

my first response is shock. to me, i agree that is fairly "low vol" and its spread over 4 CC. but at the same time, its a very clear GC.com purchase multiple times on multiple cards. and you already know shady crap happens with GC and banks know about it. meaning, frequent GC.com purchases on multiple cards per month consistently tripped some kind of AML KYC BSA response. I just didnt think BofA would pull a USB on you. How long have you been buying GC.com? years?

the reason why your ML account went first is because investment vehicles are even under more scrutiny under SEC NASD FINRA. they take absolutely no BS unlike your CC accounts. this is also why many times you see deposit accounts go first vs getting CC shut down. and this also ties back to why people always say DO NOT dump your MO into checking accounts with CCs that you want to keep because its under different regulation. So did you ever dump any MO in BofA? I assume no.

but here are my other thoughts:

1) based on everything you said, it looks like your MS from gc.com purchases was too obvious and tripped some type of review, but still in shock about your relatively low vol. can you think of anything else? you said no major churning. then how about MO depo? or anything with your wifes accounts? or anything in your CR? any recent crap that showed up on your credit reports or even your CHEX? any other bank or CC shut downs? im trying to think of all the avenues here because i am surprised. altho GC.com purchases on multiple cards are too obvious.

2) The shut down has nothing to do with your ML free trades, and Preferred Honors status that gives 75% extra on earning points on Bofa Travel cards

3) do you plan to call BofA or ML and figure out what is up? maybe useless but i guess it wouldnt hurt to try and see what happened. altho pretty sure they wont say crap to you anyway.

4) its up to you, but I personally would just close all BofA relationships ASAP first thing monday. do it first before they do it if you value a future BofA relationship. some may argue that its OK to leave accounts open with BofA, but if you care anything about playing with BofA in the sandbox ever again, I would take first mover advantage ASAP on monday and their notation will go down as "closed by customer" vs your ML accounts which already has a black mark tied to your SSN. this probably means you cant open another ML account ever, but getting future BofA CC should be OK since they may not cross ref with ML if you stick with only BofA accounts and CC and never touch ML again. not 100% sure, but its an educated guess based on the segregation of entities. but if your CC are still active, i assume you have some choices left. so if you want to play with BofA ever again, why risk it? otherwise, yea, just wait and see what happens. but an earlier poster already had a BofA shut down experience and noted all CC accounts were closed based on AS CC churn abuse.

5) i assume you already have a plan to move your investment assets to schwab, fidelity, or some other discount brokerage firm? just wondering since i know Ally is fairly cheap vs the competition and they just acquired TradeKing

Last edited by GundamWing01; Feb 12, 2018 at 3:27 am
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Old Feb 12, 2018, 4:06 am
  #90  
jk2
 
Join Date: Dec 2010
Posts: 1,511
Originally Posted by GundamWing01
appreciate the detail. its starting to make a bit more sense, altho i am still very shocked at the ML response vs your "low" volume. times have changed. unfortunately, "low volume" and "dont do crazy activity on BofA CC" is very subjective. depends on who you ask. ive seen idiot posts about how some think 50k/mo MS on a CC is "not much". yea, not much relative to others who do 100k+/mo but a bank will still see that crap. SMH. anyway, let me get this straight, so you have 4 CC w/ BofA w/ the wife and usually spend ~$6K on each card, monthly? so 24k total from GC.com monthly? no churning AS CC abuse?

my first response is shock. to me, i agree that is fairly "low vol" and its spread over 4 CC. but at the same time, its a very clear GC.com purchase multiple times on multiple cards. and you already know shady crap happens with GC and banks know about it. meaning, frequent GC.com purchases on multiple cards per month consistently tripped some kind of AML KYC BSA response. I just didnt think BofA would pull a USB on you. How long have you been buying GC.com? years?

the reason why your ML account went first is because investment vehicles are even under more scrutiny under SEC NASD FINRA. they take absolutely no BS unlike your CC accounts. this is also why many times you see deposit accounts go first vs getting CC shut down. and this also ties back to why people always say DO NOT dump your MO into checking accounts with CCs that you want to keep because its under different regulation. So did you ever dump any MO in BofA? I assume no.

but here are my other thoughts:

1) based on everything you said, it looks like your MS from gc.com purchases was too obvious and tripped some type of review, but still in shock about your relatively low vol. can you think of anything else? you said no major churning. then how about MO depo? or anything with your wifes accounts? or anything in your CR? any recent crap that showed up on your credit reports or even your CHEX? any other bank or CC shut downs? im trying to think of all the avenues here because i am surprised. altho GC.com purchases on multiple cards are too obvious.

2) The shut down has nothing to do with your ML free trades, and Preferred Honors status that gives 75% extra on earning points on Bofa Travel cards

3) do you plan to call BofA or ML and figure out what is up? maybe useless but i guess it wouldnt hurt to try and see what happened. altho pretty sure they wont say crap to you anyway.

4) its up to you, but I personally would just close all BofA relationships ASAP first thing monday. do it first before they do it if you value a future BofA relationship. some may argue that its OK to leave accounts open with BofA, but if you care anything about playing with BofA in the sandbox ever again, I would take first mover advantage ASAP on monday and their notation will go down as "closed by customer" vs your ML accounts which already has a black mark tied to your SSN. this probably means you cant open another ML account ever, but getting future BofA CC should be OK since they may not cross ref with ML if you stick with only BofA accounts and CC and never touch ML again. not 100% sure, but its an educated guess based on the segregation of entities. but if your CC are still active, i assume you have some choices left. so if you want to play with BofA ever again, why risk it? otherwise, yea, just wait and see what happens. but an earlier poster already had a BofA shut down experience and noted all CC accounts were closed based on AS CC churn abuse.

5) i assume you already have a plan to move your investment assets to schwab, fidelity, or some other discount brokerage firm? just wondering since i know Ally is fairly cheap vs the competition and they just acquired TradeKing
Thanks for your lengthy response.
I used gc.com for years. My last Bofa applications were long time ago (2016). I have bofa checking (as well as my wife), but I never deposited MOs up there, since I didn't want a shutdown.
I plan to call ML this morning, but I'm sure they wouldn't tell me a reason.
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