Is account closure by a bank noted on EWS/Chex and does it have a negative effect on future accounts?

I recently had a shutdown, which led to me filing an arbitration. I'm not at liberty to discuss the vendor nor the terms of the settlement, but there is something that came up that might be useful.

The attorney representing the vendor is not an employee of the vendor, but said he does a lot of work for them. He said that his impression was that the main factor in my shutdown was the use of Checkfree Pay to pay the bill. The vendor didn't know where that money was coming from so it represented a compliance risk.

Interestingly, in this case, most of my payments were coming from a bank, and CFP was only a relatively small portion ($10K/mo).

I have been loading to several prepaids fee-free that's why I've not been doing B/P and MO for the last 90 days. I noticed that among banks I used to do WMBP, it is only c1t1 that posts as no bank name found while chs (last pymt a year ago) and disc (last pymt was end of Feb) posts the bank name with last 4 digits of account CFP has set up for me. I noticed all payments to different CCs were coming from the same bank acct when I did CFP via WMBP.

Cap1 really tightened up on external payments and MS about 18 months ago. Surprised you lasted very long. They were the best for MS since you could use select gcs to directly pay your balance - was a sweet deal since you could make 1 payment per day per account, and Cap1 allowed multiple accounts of the same type. Some people were paying $10k/day on 2% cards - who couldn't do with an extra $6K/mo tax-free? Cap1 are a good bunch since they pay signup bonuses even if they close your accounts. That deal lasted a good long while until the usual idiots started posting about it.

Sorry to be "that guy", but I've a question about the likelihood of a shutdown.

Two Ch@se Biz cards for a legit business:

CI Plus 7.5k CL: 2.5k (VGC @ Staples) & 5k non-bonus ($2k in straight GC and $500 on Amazon cards)
CI Preferred 40k CL: 15k in ads x3 & 25k non-bonus

My worry is hitting the credit line or going over, and thus I'm cycling. Also, I'm killing the 3x ad spend (which is legitimate), but am afraid this will get my account looked at due to its high proportion of spend, and thus lead to scrutiny.

The amounts are small, compared to what I see around here, so please don't laugh :)

If you made it this far, I have one more ask. Assuming I ramp slowly, how high could I get without worrying too much? Don't worry, I won't hold you to it when I get shut down!

I think the risk of getting shutdown based on your spend profile right now is very low. I don't think anyone can give you a clear answer about how much you can spend without worrying "too much". But the risk definitely increases if you start spending more than your credit limit. If you do plan to try spending more, you are wise to ramp up slowly.

1. Capital One Ventrue
2. 8 years
3. 2k Checking
4. 20-30K
5. No Cycle
6. No BP

Logged into my account and wife's account and both were listed as 'Restricted'. Spent an hour on the phone being transferred by CS and finally got to the fraud dept. They said I needed to leave a message for the EXECUTIVE RESOLUTION DEPT and someone would get back to me. I had about 800K miles between both accounts and now they say 0. Anyone have experience with this? we both got emails saying they would credit the cash to the account but if the CC is closed where will the money go?

If they have shut you down completely, they will send you a check once they are certain that there are no outstanding checks that need to be paid from your checking balance.
On the other hand, if all they shut was your credit card, then you have an ongoing relation with them and a functional checking account.......not likely.

Bummer about the miles. From other posts, you can follow up and request that they be given back. There apparently has been some success in doing that.

Were you paying your CC account balance out of checking. If you were, were you depositing MOs into the checking account? If so, this would be the classic "don't poop where you eat" scenario.
Good luck in getting those miles back.

So you think they will just deposit the money into my 360 account?

No i just kept that checking and savings account for relationship status.. i know its not a lot but i use it for my venmo and paypal transactions for my kids payments. Never deposited MO into any of my Cap1 accounts.

thanks ill post an update when I hear or get something.

**UPDATE**

My wife's Cap1 CC just got credited $2.6K so it reduced my outstanding balance by that amount... CC is still closed.

My CC was also credited $1.5K but now has a negative balance... hope I can get a check or something bc the CC is still closed. :(

Barclay Arrival (this is not the Arrival Plus - I downgraded to the plain Arrival when I decided to close my Arrival Plus a few years ago).

Closed for inactivity. Card has been in the drawer for the past few years.

I'd consider this to be a separate category, and practically the opposite of a shutdown -- b/c the latter is caused by an activity.

This happened to me like 4 yrs ago or so. I had about 80,000 points. Cap1 closed my venture cc, and my check account with them (only had like pennies). They sent me a check for 1/2 the value of the points. (since 1.00 spend get you 2%).

Also, I am pretty much banned from signing up with them again. I tried like 2 years ago. Instant denial.

deleted

I think your shutdown risk is low.