Seeing as how I’ve been banned by 3 banks now – USBank, Barclays, and Chase, I figure I have enough data points to make a ranking of bank bans that would hurt the most TO ME. Let’s rank these in order of pain.
#1 – American Express – “My puppy just died kind of pain”
Benefits – This one would hurt the most. The Amex Offers are so rich that you could easily earn hundreds per year per card if you know what you’re doing. While we’re not sure what’ll happen in the post-SPG world, if they keep doing AMEX Offers, I don’t really care if I put that spend on an SPG, Delta, MR, or 1% cashback card.
Ban impact – AMEX is pretty nice in that if they shut you down, they may shut down only one card (see OBC) vs axing every card and everyone in your house. Plus, they’ll usually give you a Financial Review first before giving you the axe. I haven’t read of any AMEX axes in a while, even with people doing multiples of their CL. And even if they do shut down one of your cards, you’ll still be able to get your rewards out (see OBC.)
#2 – Citi – “Your girlfriend breaks up with you and you are never ever getting back together”
Advantages – Pretty lenient on churning and has some great cards like the AA cards, TYP cards, and Hilton card
Ban impact – Citi will wipe out all your cards, and you won’t be able to get your points out. They DGAF even if you CFPB them. It’d be like handing an escaped convict a jaywalking ticket. “What is this stupid piece of paper?” TRASH! It also takes YEARS (I read 7?) to get back in with their good graces.
#3 – Bank of America – “You find out your girlfriend is cheating on you”
Advantages – Alaska cards, even with the gutted EK chart! Great Virgin Atlantic / Hilton card. Also has a wonderful gem of a card when the shit hits the fan on everything else. Can do things over the phone.
Ban impact – Also not getting back in for YEARS. How else are you gonna rack up AS miles, especially if you don’t fly often or resell?
#4 – Barclays – “Your house was robbed”
Advantages – Arrival, JetBlue, Hawaiian, Lufthansa, Wyndham.
Ban impact – Man, not only do they get you, but they get your spouse, your kids, your dog, and even your uncle who doesn’t live with you but is an AU on your card. Just plain NASTY. Not sure when/if you’ll get back in.
#5 – Chase – “Your car got broken into”
Advantages – The reason I put them this low is due to the ban impact. Great if you love Ultimate Rewards, United, Southwest, Hyatt, or Marriott. Five/24 seems extremely YMMV since I know someone who got a card in-branch with 24/24. Haha.
Ban impact – Mixed reviews. Some get personal cards axed but not business. Some get a total wipe. Some have been able to get back in after a year or so. They also give you time to transfer out UR before totally shutting you down.
#6 Capital One – “You realized you lost a $500 VGC”
Advantages – Really good signup bonuses, namely Spark. Also can do things over phone.
Ban impact – When writing this post, I couldn’t find anyone who was banned and what the impact was. If you got banned though, you’re potentially losing out on $500-$1K per year of signup bonuses.
#7 – Discover – “You stubbed your toe on a table”
Advantages – The 5% quarterly bonuses are nice, and they seem to give solid existing customer usage bonuses.
Ban impact – While there are data points of shutdowns, and I found this while writing this up, I don’t know if you’ll get back in or not.
#8 – US Bank – “Finding out Santa isn’t real”
Advantages – Flexperks card, the cash back card, and the Club Carlson cards.
Ban impact – Apparently you’re not getting back in. Now that I’m going on 3+ years being banned from them, I honestly DGAF. Maybe others who have the Flexperks card would rank this higher though.