Jan 1, 2020, 10:56 am
Last edit by: ChrisFlyer66
For the 2021 shutdown thread, click here: https://www.flyertalk.com/forum/manufactured-spending/2031831-2021-shutdown-thread.html
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?
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?
2020 Shutdown Thread
Jan 15, 2020 | 1:23 pm
#31
Join Date: Nov 2013
Posts: 140
Is it even worth it to go in an talk to a teller....
Jan 15, 2020 | 1:40 pm
#32
Join Date: Oct 2012
Posts: 970
No MS, No MO. I have a real business that I put A..LOT of spend on and maximized my plat honor status. That's why i'm unsure what's going on, unless the perks are created for smoke and mirror's... They are not making money from my card spend but then i park a significant sum for them to leverage their loan ratio.
Is it even worth it to go in an talk to a teller....
Is it even worth it to go in an talk to a teller....
Jan 15, 2020 | 3:08 pm
#33
Join Date: Apr 2015
Posts: 178
BofA just closed out all my and SOs accounts including all our Merrill Edge accounts. Probably due to a bunch of MS'ing on our BofA Premier (Plat Honors so 2.625% CB) via Simon $1k cards. Did cycle a couple of months on my Premier card but never too much over my credit limit. I did also have 3 cash rewards cards while the wife had 1 cash reward card. Sad, i did love their Platinum honors program for which bonuses on credit card earnings was nice.
Jan 15, 2020 | 3:14 pm
#34
Suspended
Join Date: Sep 2016
Posts: 198
BofA just closed out all my and SOs accounts including all our Merrill Edge accounts. Probably due to a bunch of MS'ing on our BofA Premier (Plat Honors so 2.625% CB) via Simon $1k cards. Did cycle a couple of months on my Premier card but never too much over my credit limit. I did also have 3 cash rewards cards while the wife had 1 cash reward card. Sad, i did love their Platinum honors program for which bonuses on credit card earnings was nice.
Jan 15, 2020 | 3:50 pm
#35
Join Date: Apr 2015
Posts: 178
They sent me a letter for each account stating the account will be closed and I have 30 days to get the assets out.
Also I did a few brokerage bonuses with them and was trying to get another one. That's also a reason why I might have been shut down. Not sure but I don't blame them, lol.
Also I did a few brokerage bonuses with them and was trying to get another one. That's also a reason why I might have been shut down. Not sure but I don't blame them, lol.
Jan 15, 2020 | 7:16 pm
#36
Join Date: Mar 2005
Programs: Continental Onepass, Hilton, Marriott, USAir and now UA
Posts: 7,381
They sent me a letter for each account stating the account will be closed and I have 30 days to get the assets out.
Also I did a few brokerage bonuses with them and was trying to get another one. That's also a reason why I might have been shut down. Not sure but I don't blame them, lol.
Also I did a few brokerage bonuses with them and was trying to get another one. That's also a reason why I might have been shut down. Not sure but I don't blame them, lol.
That would just add insult to injury.
Jan 16, 2020 | 10:22 am
#37
Join Date: Apr 2015
Posts: 178
Also add more insult to inury, the SO and I have about $400 in pending rewards which we will forfeit per TOS. Good lesson learned.
Jan 16, 2020 | 4:38 pm
#39
Join Date: Nov 2013
Posts: 140
I probably cycle my CL 20x over. Have to setup pymt everyday for current and future spend. CL was pretty significant.
Jan 16, 2020 | 8:40 pm
#40
Join Date: Mar 2015
Posts: 110
I cashed out over 50k from MR to cash last year and moved all my assets away from Schwab. They havent said a peep to me about account closure or anything of the sort.
Jan 16, 2020 | 9:06 pm
#41
Join Date: Aug 2003
Location: Seattle, WA. USA
Programs: MR, AA, UA, DL, AVIS and growing
Posts: 1,192
Fidelity - 9 months
TD Ameritrade - 1 year
E-Trade - 6 months
Schwab -does define term except a one time transfer bonus.
Jan 18, 2020 | 11:37 am
#45
Join Date: May 2015
Location: LAX, BUR
Programs: AS,AA,JB, HH Gold, Starriott Titanium Elite, Hyatt Explorist, Global Entry
Posts: 1,968
Charles Schwab Shutdown
Recently received a letter that simply said Schwab is exercising its rights to terminate my account at anytime for any reason effective yesterday (1/3/2019).
I never deposited MO, but did cash out $10k ish in MR and withdrew quickly.
I never held much in the account in terms of assets and and used the account to ACH for a couple bank bonus as Direct Deposit.
Account was open for 18 months prior to this. Only about $100 in investments and no retirement accounts with Schwab.
My biggest hang up is they won’t even allow an appeal, won’t provide ANY info and will not tell me definitively if I am banned. Even when I pressed them and said it will result in a hard pull to apply again, can you just tell me if I should beat it. They said you’re welcome to apply for a new account, but it will go through the approvals process and I cannot tell you if it will be approved or denied.
Recently received a letter that simply said Schwab is exercising its rights to terminate my account at anytime for any reason effective yesterday (1/3/2019).
I never deposited MO, but did cash out $10k ish in MR and withdrew quickly.
I never held much in the account in terms of assets and and used the account to ACH for a couple bank bonus as Direct Deposit.
Account was open for 18 months prior to this. Only about $100 in investments and no retirement accounts with Schwab.
My biggest hang up is they won’t even allow an appeal, won’t provide ANY info and will not tell me definitively if I am banned. Even when I pressed them and said it will result in a hard pull to apply again, can you just tell me if I should beat it. They said you’re welcome to apply for a new account, but it will go through the approvals process and I cannot tell you if it will be approved or denied.
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) = Schwab
2. Length of account before closure and CL? = 18 months
3. Average monthly account balance checking and savings?