2020 Shutdown Thread

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Old Jan 4, 20, 4:21 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 Feb 14, 20, 3:24 pm
  #121  
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Join Date: Nov 1999
Posts: 22,780
Originally Posted by ogg View Post
The notion that a bank will make an example of you is wrongheaded. In every bank arbitration I've heard about, there's a confidentiality agreement as part of the settlement. There's no "making an example" of anyone when both sides have to keep quiet.

Get an attorney and get after the .......s. IMHO, showing a spine is better than meekly accepting the ways banks screw us. IMHO, of course--and you're free to disagree.

(in case anyone is wondering, the word that I used above ending in ....s which was censored by the software here was a mild one referring to children born out of wedlock. It's perfectly acceptable and is not an obscenity. Jeez.)

What if Citi doesnt want to settle and it ends up in arb and Citi wins , is that also sealed? Im not sure how many cases with Citi involved $300K a month and if Citi is worried if its a 1 off or if tons of others will try and copy What were your amounts that you went to Arb over and what was it for? the same as the OP?

Im just trying to get the OP to a level playing field and look on it as if Im the one involved and what Id want to know before deciding if I should proceed and how. I could walk out of a car show room paying slightly over cost and yet the next person trys the same and they let them walk w/o a sale. I might have been going for the most expensive car so their carrying costs are high while the next guy was looking for a subcompact where the carrying costs are low and not worth letting the car off the lot w/o making x $s. Thats why all along I keep saying is everyone playing the exact same game
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Old Feb 14, 20, 4:12 pm
  #122  
ogg
 
Join Date: Sep 2019
Posts: 166
No one can figure out in advance what will happen in an arbitration--which is the point, after all. If you insist in knowing in advance what's going to happen when you protest a bank's action, don't protest a bank's action. Simple.

This is a pretty good article about the process, although it's talking more about credit card debt disputes than MFS:
https://www.creditinfocenter.com/leg...itration.shtml
Note this:

Difference Between JAMS and AAA

Both JAMS and AAA are arbitration services. JAMS (Judicial Arbitration and Mediation Services) is preferable to AAA (American Arbitration Association), as JAMS is most costly to creditors (i.e., increasing the chances they will drop further action). So if you have a choice, elect arbitration via JAMS.
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Old Feb 14, 20, 5:43 pm
  #123  
 
Join Date: Feb 2012
Posts: 2,107
Originally Posted by ogg View Post
This is a pretty good article about the process, although it's talking more about credit card debt disputes than MFS:
https://www.creditinfocenter.com/leg...itration.shtml
The blogger you're quoting has commercial interests, which are not completely clear.
Except for this --
Disclaimer: Credit Info, LLC may be compensated in exchange for featured placement of certain sponsored ads and services...
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Old Feb 14, 20, 6:51 pm
  #124  
ogg
 
Join Date: Sep 2019
Posts: 166
If you don't want to read sites without some commercial interests, start by never coming here, since this site has ads too. I'm not sure where you could find a *.com site without commercial interests--that's what *.com sites are after all.
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Old Feb 15, 20, 12:34 am
  #125  
 
Join Date: Feb 2012
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Originally Posted by ogg View Post
If you don't want to read sites without some commercial interests, start by never coming here, since this site has ads too. I'm not sure where you could find a *.com site without commercial interests--that's what *.com sites are after all.
I saw no ads in that blog -- that was not an issue. The issue was misrepresentation. The blog sounded like a JAMS-sponsored opinion with no backup info provided, and you quoted that opinion as a fact.
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Old Feb 15, 20, 1:14 am
  #126  
ogg
 
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Originally Posted by MaxVO View Post
I saw no ads in that blog -- that was not an issue. The issue was misrepresentation. The blog sounded like a JAMS-sponsored opinion with no backup info provided, and you quoted that opinion as a fact.
Huh? What did I misrepresent? What did the site misrepresent? Did you look at the other pages on the site, including its forums with many thousands of posts and a special forum on credit arbitration issues? Did you see any ads for JAMS? The arbitration forum posts links to both JAMS and AAA.
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Old Feb 15, 20, 11:22 am
  #127  
 
Join Date: Jan 2010
Programs: Hilton Diamond, Marriott/SPG Platinum
Posts: 418
just found citi shut down all my credit cards today. 2 of them are double cash cards with pending $900 cash back...one with CL 50k and the other CL 15k. never cycle the credit line.
just buy simon VGC then billpay back. shut down is not surprising to me, just too soon.

checked my sears card....they closed my citi/sears card also with 200k thankyou point. need to open an arbitration to get cashback/thank you points.

I will continue to use my pricline 2% back, capitone one 2% back, and fidelity 2% for simon VGC then BP untill they shut them down.

1. SHUTdn by Bank, Credit Card info. (c1t1 )
2. Length of account before closure and CL? (20 years, 50k, 15k, 8k, 7.5k, 6k, 1k 6 cards in total, citi Sears 10k).
3. Average monthly account balance checking and savings? (no checking account with citi).
4. Volume of ms per month and how many months? since 8/2019 and around 20k to 35k per month.
5. Cycle CL? No
6. Did you BP using both options? WM BP (to citi and master) and gobank BP
7. Did you spell out the bank's full name in an internet forum? yes

Last edited by coolguy100; Feb 15, 20 at 6:46 pm
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Old Feb 15, 20, 1:54 pm
  #128  
 
Join Date: Jan 2020
Posts: 34
Originally Posted by coolguy100 View Post
just found citi shut down all my credit cards today. 2 of them are double cash cards with pending $900 cash back...one with CL 50k and the other CL 15k. never cycle the credit line.
just buy simon VGC then billpay back. shut down is not surprising to me, just too soon.

checked my sears card....they closed my citi/sears card also with 200k thankyou point. need to open an arbitration to get cashback/thank you points.
You were probably shut down because of doing Billpay.
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Old Feb 15, 20, 3:21 pm
  #129  
 
Join Date: Jan 2010
Programs: Hilton Diamond, Marriott/SPG Platinum
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Originally Posted by mordakky View Post
You were probably shut down because of doing Billpay.
mostly likely due to Billpay. I know a lot of folks buying simon VGC with citi double cash but no Billpay, their citi cards haven't been shut down.
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Old Feb 15, 20, 5:40 pm
  #130  
 
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Originally Posted by coolguy100 View Post
mostly likely due to Billpay. I know a lot of folks buying simon VGC with citi double cash but no Billpay, their citi cards haven't been shut down.
I know people who do plenty of BP and not shut down, some who did only MOs and got shut down. THere's some risk evaluation that goes on automatically based on income, amounts of MS spending and credit history, then they suddenly decide to axe you.
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Old Feb 15, 20, 6:00 pm
  #131  
 
Join Date: Jan 2010
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Originally Posted by littlewinglet View Post
I know people who do plenty of BP and not shut down, some who did only MOs and got shut down. THere's some risk evaluation that goes on automatically based on income, amounts of MS spending and credit history, then they suddenly decide to axe you.
good to know. is it possible to get the citi card reopened? can I reapply for new citi cards soon?
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Old Feb 15, 20, 6:18 pm
  #132  
 
Join Date: Mar 2005
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Originally Posted by coolguy100 View Post
just found citi shut down all my credit cards today. 2 of them are double cash cards with pending $900 cash back...one with CL 50k and the other CL 15k. never cycle the credit line.
just buy simon VGC then billpay back. shut down is not surprising to me, just too soon.

checked my sears card....they closed my citi/sears card also with 200k thankyou point. need to open an arbitration to get cashback/thank you points.
Would you mind giving some more details on how you were using the cards (perhaps following the template given at the top of the thread?)

The data would be helpful to all of us. Thanks
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Old Feb 15, 20, 6:36 pm
  #133  
 
Join Date: Jan 2010
Programs: Hilton Diamond, Marriott/SPG Platinum
Posts: 418
Originally Posted by radonc1 View Post
Would you mind giving some more details on how you were using the cards (perhaps following the template given at the top of the thread?)

The data would be helpful to all of us. Thanks
sure, I just added more details to my original post
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Old Feb 15, 20, 11:53 pm
  #134  
 
Join Date: Jun 2015
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Originally Posted by MaxVO View Post
I saw no ads in that blog -- that was not an issue. The issue was misrepresentation. The blog sounded like a JAMS-sponsored opinion with no backup info provided, and you quoted that opinion as a fact.
JAMS is the better arbitrator. See some amazing results with them.
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Old Feb 16, 20, 12:23 am
  #135  
 
Join Date: Feb 2012
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Originally Posted by Chelski View Post
JAMS is the better arbitrator. See some amazing results with them.
May I ask which specific results lead you to that conclusion?
I'm also curious and somewhat skeptical about arbitration business being truly impartial or even favoring consumers. In case of banking, it's the big banks that mandate the use of arbitration, and the banks pay for their services -- i.e. the banks are de facto customers of the arbitration business. Then what incentives do any arbitrators have to rule against the side that pays their bills? If there are such hidden incentives, then why JAMS would have more of them than AAA?
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