Last edit by: FreakingFlyer
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 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?
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?
2019 Shutdown Thread
#241
Join Date: Oct 2012
Posts: 970
Moi Where did I ever say the banks lose money by offering rewards cards?
If the banks lose money, why would they raise anyone's credit limit for active spending (which is what many do)?
And, getting back to the earlier discussion, if the banks thought a credit limit should be the limit for a month's spending on a card, they could easily program it in. Simply don't make any more credit available, regardless of payments, until after the monthly statement closes.
If the banks lose money, why would they raise anyone's credit limit for active spending (which is what many do)?
And, getting back to the earlier discussion, if the banks thought a credit limit should be the limit for a month's spending on a card, they could easily program it in. Simply don't make any more credit available, regardless of payments, until after the monthly statement closes.
#242
Join Date: Oct 2012
Posts: 970
Reporting a closure that came as a surprise to me (even though I heavy hit). Had 3 cards with Cap1 and all shut down (venture, spark business, and platinum). Nothing apart from organic spend on spark and platinum, I was heavy hitting on the venture, several years now, about 240k+ monthly. Spoke with them early on when I first opened card several years back and it was all fine with them. Oldest card was the platinum at ~6 years. Never carried a balance and was always cycling my CL (so it’s no duh). Possibly with all this crap that went on with their cyber hack, perhaps accounts got a closer look (maybeee...). I think what caused my case, because I’ve gone years with no issues, is greed. With new limits on gcm ordering, it became more difficult to order over 10k a day in gift cards, so my friend and I discovered that cap1, unlike chs, will issue an entirely different cc number for authorized users on the account, and this enables you to purchase more from the same account on gcm in a single day, to reduce turnaround time, because gcm tracks orders and limits them by cc number now. Never talked about my spending until now online. CL 30k on venture, 20k spark and 5k platinum. Proceed with caution. Mine could be because of heavy hitting, but confused as to why I went so long if that’s the case...received letter in the mail stating “my spending habits did not match their requirement of normal household spending” blah blah.
#244
Join Date: Oct 2012
Posts: 970
Sigh. You.can keep yapping on about this but doesn't change reality. There are thousands who MS - only a handful report shutdowns - and there's almost always a reason besides cycling that causes it (usually having to do with payments - multiple online debits, anonymous moneygram billpays, paying directly with MOs, bounced check etc etc). Most banks dont care about cycling so long as the payments can be traced for AML/KYC regulations.
#245
Sigh. You.can keep yapping on about this but doesn't change reality. There are thousands who MS - only a handful report shutdowns - and there's almost always a reason besides cycling that causes it (usually having to do with payments - multiple online debits, anonymous moneygram billpays, paying directly with MOs, bounced check etc etc). Most banks dont care about cycling so long as the payments can be traced for AML/KYC regulations.
#246
Join Date: Mar 2016
Posts: 267
Sigh. You.can keep yapping on about this but doesn't change reality. There are thousands who MS - only a handful report shutdowns - and there's almost always a reason besides cycling that causes it (usually having to do with payments - multiple online debits, anonymous moneygram billpays, paying directly with MOs, bounced check etc etc). Most banks dont care about cycling so long as the payments can be traced for AML/KYC regulations.
#247
Some people just play fire and hope won't be caught. Some people have to since they do like $300,000 to $500,000 MS per month and they can't get that much total CL. All the huge volume MS activities can easily catch someone's eye, particularly something happens like a fraud alert or returned payment etc. Then it triggers the manual review and the entire shut-down.
This is not getting shut down outright, but managing the risk of getting shut down.
This is not getting shut down outright, but managing the risk of getting shut down.
#248
Join Date: Jan 2010
Programs: Hilton Diamond, Marriott/SPG Platinum
Posts: 496
one data point - my Alliant credit union card never cycle CL, monthly Simon mall 24k VGC out of 25k CL, it hasn't been shut down and has passed first year anniversary. Several guys I know had cycled CL on this card, got shut down the first half year.
#249
Join Date: Aug 2012
Location: LAX/SFO
Programs: AS 100k, BA GGL, UA 1k, DL DM, AC SE, B6 Mosaic4, Hyatt/Hilton/Wyndham/IHG Diamond, Marriot Ti
Posts: 1,249
Some people just play fire and hope won't be caught. Some people have to since they do like $300,000 to $500,000 MS per month and they can't get that much total CL. All the huge volume MS activities can easily catch someone's eye, particularly something happens like a fraud alert or returned payment etc. Then it triggers the manual review and the entire shut-down.
This is not getting shut down outright, but managing the risk of getting shut down.
This is not getting shut down outright, but managing the risk of getting shut down.
#250
It all depends on the card product and bank. There are certain banks that don't flag cycling that I cycle many times every month. On the other hand, there are banks that do flag cycling and will shut you down after a few months of just 3x cycling. The same applies for anything. There are banks that will accept unlimited MO deposits, and there are banks that will shut you down for just about nothing.
#251
Join Date: Mar 2011
Location: SAN
Programs: Delta Gold. Hilton Diamond. Hyatt Explorist.
Posts: 1,677
#252
Join Date: Jun 2009
Location: DFW
Posts: 454
I never got shut down, but my mall quit paying out rewards. They blocked that like AMEX did. Strug-guh-ling.
#253
Join Date: Mar 2011
Location: SAN
Programs: Delta Gold. Hilton Diamond. Hyatt Explorist.
Posts: 1,677
#255
Join Date: Feb 2016
Location: Northeastern United States
Posts: 597
Not true in my experience. Consistently receiving rewards at Simon for both P1 & P2 since the first week of their 3% card launch. Heavy hitters just want people to think this stuff so people stay away in hopes it will keep it alive longer. It's the same as the people trying to claim certain gebits don't work for paying CitiBank over the phone when they still do. When in doubt, test it yourself so you'll know the truth.