I'd love to hear more about the settlements.

arb settlements generally require a non disclosure to be signed

Right. I can't give specifics. Sorry. I've probably said too much already.

Greetings! I am wondering if anyone has experience using Walmart Bill Pay to pay off either:

1.) A BofA Home Equity loan, or:

2.) BofA credit cards,

and if doing this would make me likely to get shut down. Being able to clear gift cards to pay down my Home Equity loan (and then take the money out again) would be a nice way to clear an endless number of gift cards to pay a legitimate bill.

I don't want to endanger my BofA Platinum Honors status, but I am not sure how to do much MSing easily now that I banned from Walmart MOs.

I would also be interested if anyone has had good success clearing substantial numbers of gift cards with prepaid accounts, and, if so, how he/she went about doing this.

Thank you.

You may have heard the advice "Don't s... where you eat". It's actually pretty good and applicable to your situation. If your relationship with this bank is really important, you may want to use some other bank for risky experiments.

I was shut down this month by BOA using the Alaska Air personal card.
Data Points:
Credit Limit 21K
Monthly spend Started 4k and moved up to 16K MS. Two months ago went to straight MS as I was on vacation for 40 days and used other card for spend. Made 8K purchases prior to leaving and paid off via BP and 8K purchases when Returned and BP those.
Payment method monthly: 4x BP at 2k@
2-7 MO deposits at ATM 1k@
Cash payment at ATM 2K max
Balance paid from personal account via electronic transfer
MS type- I had made all purchases from Giftcardmall for many months, switched to Simon two months ago and then cancelled.
I was pushing it on this account as its my only BOA card and I have no other BOA accounts. I was cancelled after accruing around 225K points including 40k signup bonus.
I realize the BP has been noted as a candidate for cancelling but I'm really wondering about the combination of BP and Simon purchases that got me.

Think of what the bank was seeing.

Customer with no other affiliation to bank other than credit card making multiple large deposits of cash or cash equivalents and immediately moving the deposits out of the account (by whatever means)

What they see is high velocity of cash flow into and out of the account with no logical explanation for why this is happening.

Account gets sent to Rats who don't like the smell of the cheese they are looking at and shut you down.

You describe (almost) the classic scenario of why banks will shut down an account.

im sorry for any misunderstanding. My Bank of America Alaska Air Personal credit card was shut down not a bank account. I�m well aware of the issues surrounding depositing MO/cash in accounts and have zero issues there. I was just pushing this card.

Oops !

Just wondering. Do you have a BOA account and if you do, is it still intact? There are lots of reports out there (especially with Chase) that when they can a card, they go above and beyond and can the entire banking relationship.
TIA

really sorry for the super late responses to your comments.

thank you for the details. glad your auto loan was approved. any other issues from them after you had proactively closed your accounts? that was a smart move after the obvious shutdown phone call. no way you would've survived that given your obvious MS. volume wasnt necessarily "excessive" but still definitely noticeable. especially after the auto loan app.

curious if you plan to app for cap1 soon. haha. that would be an interesting test.

yea. i dont think 5k/mo MS on one BofA CC is excessive, but im hoping its "safe enough". ive had BofA for 20+ years. Plat Honors. but no loans of any kind. so no interest from me, but i do have funds with MEdge. and i use BofA as one of my primary banks so i stay away from WMBP or cycling. i do sometimes depo MO, but very rarely.

i do much more MS with chase, amex, citi and obviously none with US Bank. however, i stay away from cash rewards. i believe its been shown for many years that there is a strong correlation between risk alerts, reviews, and shutdowns when financial institutions are losing actual cash vs monopoly money. eg Citi DC vs Citi AA. but when volume is "excessive", currency doesnt matter.

thank you for the details. any updates on your situation? i feel like you had a chance for reinstatement. ive found your story to be super interesting because you didnt MS or do MO. but legit business spend for 20x CL cycle totally raised a flag and manual review. i think it took 14 months because it was legit spend, but prolonged periods of cycling is always one key factor for shutdown.

thank you for the details. so you got shutdown in 6 months? from JUL to DEC? in your case, its clear MS 20k/mo CL + going over CL + WMBP all contributed to the shutdown. also sounds like you did a few brokerage bonuses too. with brokerage firms, they have a much lower degree of risk tolerance due to the business nature, and flags get raised easily. same with deposit accounts that have "excessive" cash volume. banks hate cash going in and out quickly. any MO or cash transactions at all?

No in my original posting I stated I had no other BOA accounts.

Is there any recent history regarding recycling credit limits with Citi? Is this doable, or a no-no?

I cycle my Citi DC 2-4x monthly without issue. I do have very high limits on other citi cards +30K on 3 cards. Only about 9k on my DC. They will let me transfer CL but require a hard pull so I dont do it. Not sure if its because of my overall limit that they let me or if its standard. I also regularly go over my CL on the DC card without issue but I am constantly paying it.

Thank you for the data point. I appreciate the feedback. I�m in a similar situation where I have a rather high credit limit on one card, but the new card has a relatively paltry limit. As you said, unfortunately Citi is not like some of the other banks that will allow you to transfer credit limit from one card to another, otherwise this would�ve been a slam dunk. I�m at 4/24, so don�t want to ask Citi to do anything with my limits, as a hard pull would result in 5/24.

I did solid MS on my DC card for about 4 years, usually 2-3x the limit. A few months ago BAM!, one day declined at Simon mall and all my Shiti cards shut down. You just never know, it can work for ages and then some amount triggers their review. Always be prepared to get shut down and not to worry about it. My new strategy with 2x MS is to have 4-5 cards and do less on each one. Less to lose during shutdown, and less hammering of each one per month.