2019 Shutdown Thread

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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 Nov 14, 19, 9:08 pm
  #331  
 
Join Date: Mar 2016
Posts: 244
Originally Posted by ChrisFlyer66 View Post
That said, a phone call asking about your activity does not necessarily mean a shutdown is imminent.
Do you mind elaborating a little further if you can? I got a call, thought the CC would be axed but was let go, at least for now. What is the typical scenario? I suppose I should stay away from "heavy MSing" on it, but what is "heavy"? A high amount or does it more have to do with cycling CL ?
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Old Nov 14, 19, 9:20 pm
  #332  
Moderator, Manufactured Spending
 
Join Date: Mar 2011
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Originally Posted by DjRocket View Post
Do you mind elaborating a little further if you can? I got a call, thought the CC would be axed but was let go, at least for now. What is the typical scenario? I suppose I should stay away from "heavy MSing" on it, but what is "heavy"? A high amount or does it more have to do with cycling CL ?
I wish I could tell you exactly how much is safe, but I don't know the magic number. In general though, most people who MS a lot eventually get shut down by Cap1, even if they aren't cycling. I've heard a few reports of people getting shut down after a phone call, but I know people who survived the phone call as well (for awhile at least).
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Old Nov 14, 19, 10:00 pm
  #333  
 
Join Date: Mar 2016
Posts: 244
Originally Posted by ChrisFlyer66 View Post
I wish I could tell you exactly how much is safe, but I don't know the magic number. In general though, most people who MS a lot eventually get shut down by Cap1, even if they aren't cycling. I've heard a few reports of people getting shut down after a phone call, but I know people who survived the phone call as well (for awhile at least).
Thanks, I suppose if there were too much certainty, it wouldn't be fun : )
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Old Nov 15, 19, 8:59 am
  #334  
 
Join Date: Jul 2018
Posts: 5
Originally Posted by DjRocket View Post
Thanks, I suppose if there were too much certainty, it wouldn't be fun : )
The way I see it is that if they are calling me for info regarding my account activity then they probably need a little more info to justify closing my accounts. I was not about to help them. I just paid off my accounts and closed them myself.
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Old Nov 15, 19, 9:11 am
  #335  
ogg
 
Join Date: Sep 2019
Posts: 228
Originally Posted by 1matthew8 View Post
The way I see it is that if they are calling me for info regarding my account activity then they probably need a little more info to justify closing my accounts. I was not about to help them. I just paid off my accounts and closed them myself.
But the calls can be marketing calls. "We''ve noticed a lot of activity on your card--would you like a larger CL?" Or they can be anti-fraud calls. "Did you make these purchases yourself? Are you under any duress?" Or they're checking to see if you can still be reached, or are still alive (so no one else is using your card). Or it can be a routine KYC policy--AmEx likes to call cardholders with three routine questions.

I don't see you gain anything by closing accounts proactively when the call could be nothing at all to worry about.
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Old Nov 15, 19, 3:48 pm
  #336  
 
Join Date: Mar 2016
Posts: 244
Originally Posted by ogg View Post
But the calls can be marketing calls. "We''ve noticed a lot of activity on your card--would you like a larger CL?" Or they can be anti-fraud calls. "Did you make these purchases yourself? Are you under any duress?" Or they're checking to see if you can still be reached, or are still alive (so no one else is using your card). Or it can be a routine KYC policy--AmEx likes to call cardholders with three routine questions.

I don't see you gain anything by closing accounts proactively when the call could be nothing at all to worry about.
You might be right about nothing to worry about, and I certainly hope you are, but these types of calls are not for marketing purposes or checking if you're under duress. They're specifically inquiring why you buy so many gift cards.

Does anybody know how Cap1 handles returned purchases (like refundable hotel or airline credits) after the account is shut down? Curious how much power they have to decide with the return. I'm assuming they would send you a check, but with a shutdown for a specific reason, who knows. Does anybody have any DPs?
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Old Nov 15, 19, 6:20 pm
  #337  
 
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Just had my Sparking Color shut down (again). Had one in my own name which got thrown in the river, then my brother opened one for me. It was total pedal-to-the-metal, a second card on the account, using the CL as soon as it freed up. After about 5 months they called him and he told them accurately that he is an attorney and a local politician and they left it alone, but six months later it's gone. Oh well.

To answer the question in the post just above, I have no specific information on the company, but it's very difficult to imagine that they wouldn't make a cash refund for returned items. They paid off my remaining rewards balance. Closing an account for "good cause" is one thing but closing it essentially without a reason is quite another. They need a very good reason to take your money, while they can close an account just because they don't feel like doing business with you.

I had expected this eventually.
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Old Nov 15, 19, 11:21 pm
  #338  
 
Join Date: Mar 2016
Posts: 244
Originally Posted by redtop43 View Post

To answer the question in the post just above...
Do you know how to use "reply with quote"? : ) The "good reason" they might cite is that the refund was for the purchase that was reimbursed with Rewards miles. And since the account was closed because of the abuse of the rewards programs, which is specified in the T&C, any money refunded that was reimbursed with the rewards is therefore forfeited, just like points. I'm not saying that's actually how they go about handling refunds after the shutdowns, but it's also within the range of possibilities. That's why I'm curious about any DPs of refunds after shutdowns.
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Old Nov 16, 19, 2:33 pm
  #339  
 
Join Date: Sep 2017
Location: SFO/LAX/SAN/LAS/JFK/LGA/EWR
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Originally Posted by 1matthew8 View Post
1. capi uno/venture
2. 2 accts, 13k and 5k, 20 mos. and 6 mos
3. 4500 5k checking 10k savings
4. 90k total ?
5. cycled 1st account for about 6 months a year ago?
6. No BP, ach transfer from credit union and [email protected]@se with MO deposits
7. No

CC accounts have not been shut down by the bank. I got a call from them yesterday and today. They wanted to ask me about my account activity so I just closed the accounts and paid off the balances. I have no intention of speaking with them. I have had 4 total cap uno accounts over the past 3 years and the past two have been MS spending. I recently applied for an auto loan with them and had some new hard inquiries as a result. I am wondering what triggered this because it seems to have come out of nowhere. I would have expected this more while I was doing heavier MS a year ago with GCM. Any ideas/advice moving forward? I have never had this happen before.
you did the right move by proactively closing the accounts. meaning, there should not be any negative remarks associated to your SSN for future CC apps. however, there still could be some residual notes about the attempted calls made since they wanted to question you but couldnt. either way, self closure is always better than bank closure. your next app should be no prob but give it some time so their "old file" goes into archive. who knows how long that is though.

also, could you give us more MS activity details in the past 2 years? would help us a lot to understand tolerance levels. what was your monthly? im almost certain your auto loan put eyes on your account. similar to a mortgage app. best case scenario, auto lending dept just wanted to know your expenses and spending patterns. but thats a stretch. pretty sure they referred your file to another fraud dept or compliance risk dept. so its good you proactively closed your accounts. but what did your MS activity look like?

and then what about your auto loan? approved?
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Old Nov 18, 19, 7:02 pm
  #340  
 
Join Date: Jul 2018
Posts: 5
The auto loan was approved. I churned 4 of those cards from 2017 to the present. I started MS on my second latest one in august 2018 cycling the card twice for three months after which I would MS ABOUT 10-12K per month which went on until about may this year. Beginning in March I got a second card of the same kind and would divide the same amount of MS across the two accounts. After that I only did as needed to cover travel purchases which amounted to about 10k over 2 months. A "Sr Account Manager who monitors account activity" left a couple voicemails saying he had some questions for me. That's what prompted me to close the accounts. The MS was online from simon the first couple months then just GCM.
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Old Dec 5, 19, 11:35 am
  #341  
 
Join Date: Nov 2005
Posts: 42
1. C1t1zens Bank
2. ~4 years personal checking
3. 7k
4. ~8-9k/month MO via ATM only, never more than 1MO per location, 3MO/day and at least 14 days between deposit by branch location.

Ended up closing the account before shut down date. Will be moving on to another bank with a business checking account.
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Old Dec 5, 19, 3:43 pm
  #342  
 
Join Date: Feb 2012
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Originally Posted by PHL_Intl. View Post
...
4. ~8-9k/month MO via ATM only, never more than 1MO per location, 3MO/day and at least 14 days between deposit by branch location.
...
Since the funds are credited to the same person/account, such fragmentation is totally obvious and resembles structuring. The net results don't even trigger any reporting limits. Isn't this acting suspiciously for no reason and with no benefits?
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Old Dec 6, 19, 9:17 pm
  #343  
 
Join Date: Apr 2004
Location: CA
Posts: 1,091
Originally Posted by GundamWing01 View Post
i think with every bank, there are always a few DPs of people getting back in. also DPs of getting shut down after. so i mean, at this point, any DP wont really help you since its YMMV. you could always just apply and see. if you were already shut down, you cant make it any worse.

do you mind sharing your citi shutdown experience? curious what happened.
They shut me down a few years ago. They even settled my suit . I am back swinging w them although not 10 cards. So all is good w Citi
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Old Dec 7, 19, 9:09 pm
  #344  
 
Join Date: Apr 2011
Location: MSP
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Originally Posted by MaxVO View Post
Since the funds are credited to the same person/account, such fragmentation is totally obvious and resembles structuring. The net results don't even trigger any reporting limits. Isn't this acting suspiciously for no reason and with no benefits?
What is suspicious? Doesn't sound suspicous to me.
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Old Dec 8, 19, 5:04 am
  #345  
 
Join Date: Nov 2010
Location: Washington, DC
Posts: 374
1. [email protected]!/venture
2. 1 cc acct, 30k limit, 13 mos
3. new checking and savings, <$100 each
4. ms $12-20k per month last 6 months
5. not really

6. BP using WM, +ach transfers from other banks
7. No

No phone call received. Just logged on one day and saw that my CC account was "currently restricted" (I know what THAT means) and they had cashed out my Rewards at 1%. Days later, received an email that they closed my month-old checking and savings accounts! Deposited WM MOs into checking using ATM only one time!
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