Disclaimer – if you’re gonna be a troll and tell me I deserved it, feel free to stop reading and move on.
I mean, this was inevitable right? After throwing down nearly 280K UR in Q1, the writing was on the wall. To be honest, I didn’t even realize I hit that much in Q1. I was trying to limit myself to less than $5K per month, but there were just too many good deals on 5X that I couldn’t pass up and so I kept charging and charging. Only today when I was trying to figure out my spend for the past 3 months did I realize how much I actually charged (more on that later).
How you know you’re shut down
When I logged on today and saw this on my Ink, BA, and 2 Freedoms:
5 Stages of Grief?
To be honest, when I first saw it, I just smirked and nodded my head. I wasn’t hurt. My heart didn’t sink. The reason for that was because last month, I had the scare already. I had logged on and all of my accounts were inaccessible. I thought I was shut down, but it was just a web site glitch. THAT was more painful than today. Today, I just nodded my head like I knew it was coming. Like waking up one day and your old dog dies on you, except you’re not as sad. My Ink lived a good life.
Wife’s card in tact still
So while my personal and business cards were shut down, my checking account seems to still be alive for now. However, I have a bad feeling about that and will move all my autopayments over to another bank. My wife’s Ink is still fine and we were both AUs for each other. I worry about her account now though. I think if hers goes, I’ll be more sad.
What about my UR
I could still access my UR account and was able to transfer them all out. I believe Chase gives you 30 days before that gets axed, so at least they’re nice in that regard. As for my pending UR on my Ink and Freedoms…heck who knows. I may CFPB them to see if I get those UR cashed out. Stay tuned.
So what caused the shutdown?
So let’s rule out my 2 Freedoms since I only spent $1500 per quarter on them (of course on the 5X category.) My BA card I got in December. My Ink is about 1.5 years old. I didn’t max out my Ink the first year. Here’s a chart of my spend on the last 4 statements:
I think the chart speaks for itself. There are 3 things that could have did me in:
- The Ink uptick in spend
- The “new” BA card spend of almost 20K in 3 months
- The combined spend in March of 36K may have been too much (note my Ink CL is 15K)
We won’t know for sure which reason it is, so take your guess (it’ll be as good as anyone else’s.)
And yes, while I had some anonymous payments in March, I don’t think that’s what did me in since I made the same payments to my wife’s Ink. But like I said, she could be next.
Slow and steady wins the race.