2019 Shutdown Thread

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Old Jan 1, 19, 6:14 am   -   Wikipost
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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 Jul 28, 19, 11:18 am
  #166  
 
Join Date: Aug 2009
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Last edited by hotpancakes; Jul 28, 19 at 7:46 pm Reason: deleted
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Old Jul 28, 19, 12:35 pm
  #167  
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Originally Posted by hotpancakes View Post
Thanks, one further question. One of the Cash Rewards cards has a cosigner from way back when I opened the account. *If* my accounts were closed, could the closure propagate to that other family member's accounts, too? For reference, they live at a different address.
I don't know. Maybe someone else has a data point? If you want my best guess I would say that yes it could affect your family member's accounts.
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Old Jul 28, 19, 12:48 pm
  #168  
 
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Originally Posted by hotpancakes View Post
Thanks, one further question. One of the Cash Rewards cards has a cosigner from way back when I opened the account. *If* my accounts were closed, could the closure propagate to that other family member's accounts, too? For reference, they live at a different address.
Co-signer or Authorized User?? There is a big difference. The former is guaranteeing your paying the bill and will be on the hook if you decide to go on the lam and charge $100K prior to doing so.
An AU is simply another name on the card. Their charges will revert to you and if they go on the lam and charge $100K before doing so, you will be on the hook for payment.
Eliminating an AU from the card is usually quite easy and just requires you calling the CC company and telling them to take that person off the account. If they have a separate CC#, then that number gets deactivated. If you both have the same CC#, then the bank may need to issue you a new CC.

On the other hand, eliminating a co=signer means (usually) that you will need to apply for a new CC based on your credit only. You may get a new card with or without a credit line difference, or you may get refused because your credit alone is not good enough for the CC company.

Bottom line..... big difference between the two terms.

Edit to add: If you are the co-signer on their credit card account, then your withdrawing from their credit line may shut their account down since they may not have enought of a credit history or score to satisfy the CC company. (Just in case )

Last edited by radonc1; Jul 28, 19 at 12:58 pm
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Old Jul 28, 19, 1:53 pm
  #169  
 
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Last edited by hotpancakes; Jul 28, 19 at 7:45 pm Reason: deleted
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Old Jul 28, 19, 3:40 pm
  #170  
 
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Originally Posted by hotpancakes View Post
They are the co-signer on 1 out of 4 of my credit cards, but haven't ever paid the bills on that card; that's my responsibility (I believe it was required since I was much younger at the time). My question is that given BOA has a habit of closing all of one's accounts for MS-related activity (checking, investment, CC), if *my* accounts were closed, could BOA close my family member's (checking, investment, CC) accounts as well, given the connection as a co-signer of one of *my* credit cards?
If you are a co-signer on their account and you get banished from the bank, then it is highly likely that your other members who have you as a co-signer will also be affected by your closure, as I explained in my prior post.
They may not be banished as you are, but they would likely have their account closed and made to re-apply without your assistance in gaining them credit.
By this time, however, they may not need your credit assistance on their account anyway, but to your basic question....no doubt they will be impacted.

If they supplied you the means for obtaining a credit line, I suspect that they may be less impacted, especially if they can show that they had no control over your financial behavior. However, given that it is BOA, anything could happen. I would proceed by getting them off your account in full before diving into the risky business of MSing, or simply go to another bank for your MSing needs. (and that means CCs as well).

Last edited by radonc1; Jul 28, 19 at 3:46 pm
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Old Jul 29, 19, 2:46 am
  #171  
 
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Originally Posted by sosamo View Post
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.
So i take it that a Cap1 ban is a lifetime ban? UGH
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Old Jul 30, 19, 6:00 pm
  #172  
 
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Originally Posted by wanalaugh74 View Post
So i take it that a Cap1 ban is a lifetime ban? UGH
So I just tried to apply for the Capital One 360 Money Market account online (500.00 bonus), and I didn't even get past the 1st step. I tried the app again, and just put in a fake SS#, and I past the 2nd step before being asked to call.

So yah, looks like a lifetime ban, or at least a 10yr ban.
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Old Jul 31, 19, 1:07 pm
  #173  
 
Join Date: Feb 2014
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Discover Shut down, didn't expect to be shutdown.This was my 2nd cash back match card, I was doing MS, monthly cycling CL 1x to 3x times. [redacted] shut me down last week after a suspicious activity review on my account, it was my 12th month. Still waiting for pending rewards to be paid from this month. Was expecting big $$ amount from Cashback match, which doesn't seems be be getting paid as the account is closed.
Anyone pursued cashback match after account closure from discover side ??

Last edited by Abflying; Aug 2, 19 at 12:45 pm Reason: masked profanity not allowed.
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Old Jul 31, 19, 11:48 pm
  #174  
 
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Was it a biz or personal card, and where were you "shopping"? I'm thinking on a biz card there's a legitimate excuse to buy VGC as those are part of many business' marketing costs. With personal it's a tough call.
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Old Aug 1, 19, 11:05 am
  #175  
 
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Originally Posted by Abflying View Post
Discover Shut down, didn't expect to be shutdown.This was my 2nd cash back match card, I was doing MS, monthly cycling CL x3 times. --------- shut me down last week after a suspicious activity review on my account, it was my 12th month. Still waiting for pending rewards to be paid from this month. Was expecting big $$ amount from Cashback match, which doesn't seems be be getting paid as the account is closed.
Anyone pursued cashback match after account closure from discover side ??
Think of the positive.
You got 12 months of cycling your CL 3x a month with Cashback bonus. This is like a normal person doing 3 years of activity in 1 However, realize that you basically broke Discover's rules and cost them a pot load of money.
You are not their customer of choice.

I don't see any reason not to try and get your last cash back rewards but don't be too shocked it they say no.

Last edited by ChrisFlyer66; Aug 1, 19 at 10:16 pm Reason: quote of masked profanity
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Old Aug 1, 19, 11:15 am
  #176  
 
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Originally Posted by radonc1 View Post
Think of the positive.
You got 12 months of cycling your CL 3x a month with Cashback bonus. This is like a normal person doing 3 years of activity in 1 However, realize that you basically broke Discover's rules and cost them a pot load of money.
You are not their customer of choice.

I don't see any reason not to try and get your last cash back rewards but don't be too shocked it they say no.
Tell me what rule was broken, please.

The fact that Discover says certain purchases don't earn rewards doesn't mean that you're breaking any rules by buying them. It's not our fault that Discover (and other CC issuers) don't follow their OWN rules and pay rewards when we buy prepaid cards.
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Old Aug 2, 19, 7:19 am
  #177  
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Originally Posted by Lobachevsky View Post
Tell me what rule was broken, please.

The fact that Discover says certain purchases don't earn rewards doesn't mean that you're breaking any rules by buying them. It's not our fault that Discover (and other CC issuers) don't follow their OWN rules and pay rewards when we buy prepaid cards.
Cycling 3x of CL is a huge red flag for credit card company. No surprise they did shut him down.
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Old Aug 2, 19, 8:27 am
  #178  
 
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Originally Posted by jk2 View Post
Cycling 3x of CL is a huge red flag for credit card company. No surprise they did shut him down.
Cycling your CL x times also doesn't violate any terms.
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Old Aug 2, 19, 8:49 am
  #179  
 
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Originally Posted by Lobachevsky View Post
Cycling your CL x times also doesn't violate any terms.
Every CC Agreement contains a broad provision that allows the lender to terminate relationship when they detect an abusive behavior. They intentionally leave that condition vague. And this thread allows us to learn exactly what behavior each bank would consider abusive.
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Old Aug 2, 19, 9:05 am
  #180  
 
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OP you still haven't provided us any details on what happened, and you deleted your reddit version of the post.
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