2023 Shutdown Thread
Jul 5, 2023 | 1:16 pm
#46
Join Date: May 2022
Posts: 3,100
My buddy recently told me that Chase shut down all the accounts of his significant other (SO). He's kinda been pushing the envelope with Chase, so he kinda saw it coming.
He shared a few possible reasons why it might have happened:
Right now, the checking and savings accounts are still good, but all the credit cards, including business cards, are shut down. My buddy did manage to transfer the UR points to Hyatt before the shutdown. His SO isn't into the whole credit card points scene and didn't know half of what was happening, so they're not even going to try and get the accounts reinstated.
He shared a few possible reasons why it might have happened:
- Transferring UR points between accounts. He called Chase customer service to link his Ultimate Rewards account with his SOs, even though they had different addresses. The rep went ahead, linked them, and even transferred 10k points for him. My friend was a bundle of nerves and even chatted about it on an online forum.
- Cashing out Membership Rewards through an AC account. This also seems like a big red flag. He cashed out a whopping 700k MR plus an additional 120k points from the card. Its been a few months since he did this, but he's wondering if this is them getting back at him.
- Heavy purchasing activity. He was using his SOs CSR card quite aggressively, which set off a fraud alert. His SO, not knowing what was going on, replied no, I dont recognize this charge. Though they later called to say it wasnt fraud, my friend thinks this might have led to someone manually reviewing the account, and maybe they noticed point 2.
- PPBP transactions. His last PPBP was just a day before the shutdown, so he's speculating if thats related. But he thinks it shouldnt be the case since it was a small amount and both PayPal and the card belonged to his SO. He mentioned that he has done way bigger transactions on his own without any issues.
Right now, the checking and savings accounts are still good, but all the credit cards, including business cards, are shut down. My buddy did manage to transfer the UR points to Hyatt before the shutdown. His SO isn't into the whole credit card points scene and didn't know half of what was happening, so they're not even going to try and get the accounts reinstated.
Jul 6, 2023 | 8:45 am
#47
Join Date: Feb 2015
Posts: 330
My buddy recently told me that Chase shut down all the accounts of his significant other (SO). He's kinda been pushing the envelope with Chase, so he kinda saw it coming.
He shared a few possible reasons why it might have happened:
Right now, the checking and savings accounts are still good, but all the credit cards, including business cards, are shut down. My buddy did manage to transfer the UR points to Hyatt before the shutdown. His SO isn't into the whole credit card points scene and didn't know half of what was happening, so they're not even going to try and get the accounts reinstated.
He shared a few possible reasons why it might have happened:
- Transferring UR points between accounts. He called Chase customer service to link his Ultimate Rewards account with his SOs, even though they had different addresses. The rep went ahead, linked them, and even transferred 10k points for him. My friend was a bundle of nerves and even chatted about it on an online forum.
- Cashing out Membership Rewards through an AC account. This also seems like a big red flag. He cashed out a whopping 700k MR plus an additional 120k points from the card. Its been a few months since he did this, but he's wondering if this is them getting back at him.
- Heavy purchasing activity. He was using his SOs CSR card quite aggressively, which set off a fraud alert. His SO, not knowing what was going on, replied no, I dont recognize this charge. Though they later called to say it wasnt fraud, my friend thinks this might have led to someone manually reviewing the account, and maybe they noticed point 2.
- PPBP transactions. His last PPBP was just a day before the shutdown, so he's speculating if thats related. But he thinks it shouldnt be the case since it was a small amount and both PayPal and the card belonged to his SO. He mentioned that he has done way bigger transactions on his own without any issues.
Right now, the checking and savings accounts are still good, but all the credit cards, including business cards, are shut down. My buddy did manage to transfer the UR points to Hyatt before the shutdown. His SO isn't into the whole credit card points scene and didn't know half of what was happening, so they're not even going to try and get the accounts reinstated.
Jul 7, 2023 | 8:27 am
#49
Join Date: Mar 2005
Programs: Continental Onepass, Hilton, Marriott, USAir and now UA
Posts: 7,389
There have been DPs for decline on debt related items such as mortgages, although if you owe them money, they will keep those accounts open. If it is on a credit card account, one will not be able to add charges, but only pay off the amount due.
Jul 17, 2023 | 3:12 pm
#52
Join Date: Feb 2016
Posts: 905
That's rude
while gaming the banks, if they all shut down one by one, that could be a problem especially the ones they provide you no fee ever CC such as Citi, Discover, Chase, Amex, wells. All the other ones wouldnt matter anyway. Any DP on this?
The strategy here could be keep the game ON till the last one left assuming they are not going to shut down all in the same month.
while gaming the banks, if they all shut down one by one, that could be a problem especially the ones they provide you no fee ever CC such as Citi, Discover, Chase, Amex, wells. All the other ones wouldnt matter anyway. Any DP on this?
The strategy here could be keep the game ON till the last one left assuming they are not going to shut down all in the same month.
Last edited by Gitangali; Jul 17, 2023 at 3:18 pm
Jul 18, 2023 | 11:22 am
#53
Join Date: Nov 2017
Posts: 55
That's rude
while gaming the banks, if they all shut down one by one, that could be a problem especially the ones they provide you no fee ever CC such as Citi, Discover, Chase, Amex, wells. All the other ones wouldnt matter anyway. Any DP on this?
The strategy here could be keep the game ON till the last one left assuming they are not going to shut down all in the same month.
while gaming the banks, if they all shut down one by one, that could be a problem especially the ones they provide you no fee ever CC such as Citi, Discover, Chase, Amex, wells. All the other ones wouldnt matter anyway. Any DP on this?
The strategy here could be keep the game ON till the last one left assuming they are not going to shut down all in the same month.
Jul 18, 2023 | 12:46 pm
#54
Join Date: May 2019
Programs: AA EXP, UA 1K, Qatar Gold, Hilton Diamond, Bonvoy Lifetime Titanium Elite, Hyatt Lifetime Globalist
Posts: 631
But I have multiple other Citi cards that I would not want to lose, so may scale back
Jul 18, 2023 | 4:22 pm
#55
Join Date: Mar 2005
Programs: Continental Onepass, Hilton, Marriott, USAir and now UA
Posts: 7,389
However, you never known when you either cross the line or the line changes. If you canot afford to lose the other accounts, you may want to rethink your game
Jul 18, 2023 | 4:29 pm
#56
Join Date: May 2019
Programs: AA EXP, UA 1K, Qatar Gold, Hilton Diamond, Bonvoy Lifetime Titanium Elite, Hyatt Lifetime Globalist
Posts: 631
I suspect that it's the other card's business you are doing with Citi that is giving your naughtiness a pass on the one card you are dong MSing on.
However, you never known when you either cross the line or the line changes. If you canot afford to lose the other accounts, you may want to rethink your game
However, you never known when you either cross the line or the line changes. If you canot afford to lose the other accounts, you may want to rethink your game
I really do like getting the 120k annually in AA points for so little though, plus the 60-70k every 4 years...
Aug 25, 2023 | 3:38 pm
#57
Join Date: Jun 2022
Location: LAX, SNA, SFO
Programs: AA EXP, B6 M4, WoH Globalist, IHG Diamond Amb, MB Titanium, Hertz PC, Avis PC
Posts: 1,920
Chase Datapoints Regarding Maxed Cards
I have 4 Inks, 3 of which are completely maxed (to take advantage of the 0%).
The first 3 Inks had a mix of GC but also organic. They only gave me 4-5k limits.
The most recent Ink I was given a $14k limit and I plan to max the whole thing and let it sit for a year. Is this risky?
The first 3 Inks had a mix of GC but also organic. They only gave me 4-5k limits.
The most recent Ink I was given a $14k limit and I plan to max the whole thing and let it sit for a year. Is this risky?
Aug 25, 2023 | 7:00 pm
#58
Join Date: Mar 2005
Programs: Continental Onepass, Hilton, Marriott, USAir and now UA
Posts: 7,389
I have 4 Inks, 3 of which are completely maxed (to take advantage of the 0%).
The first 3 Inks had a mix of GC but also organic. They only gave me 4-5k limits.
The most recent Ink I was given a $14k limit and I plan to max the whole thing and let it sit for a year. Is this risky?
The first 3 Inks had a mix of GC but also organic. They only gave me 4-5k limits.
The most recent Ink I was given a $14k limit and I plan to max the whole thing and let it sit for a year. Is this risky?
I presume that with the 0% deal you got, you are required to make some small payment each month to keep the account current.
The way banks structure deals such as the one you describe is that they charge you the interest on the balance due, minus the small payment you make each month. At the termination of the contract, you make a balloon payment of the outstanding prinicpal and the outstanding interest is forgiven.
The danger is missing a payment. That makes the debt due immediately as well as the accumulating interest. Be careful of that!!
Very easy as long as you don't miss a payment each month, no matter how small, and secondly, that you make the balloon payment in full at the end of the contract.
As long as you have assets to insure payment at the termination of the deal, I doubt that Chase gives a hoot how you spend the money. Since you have maxed out your credit line, they aren't giving you any more money, until you pay down some of it. It may even improve your credit score as long as you make your payments.
But I honestly doubt Chase would shut you down.
Spoiler
Aug 25, 2023 | 8:05 pm
#59
Join Date: Feb 2012
Posts: 4,631
With business cards you may use your full credit line. Doing the same with personal cards would be risky though, and may negatively affect your credit score.