Last week, a reader had his Citi accounts shut down. He never spent over CL and figures there were 2 possible reasons. First reason could be because he had 2 recent AMEX statements close totaling over $20K. With the current climate, banks are worried about ability to pay, so they may have gotten nervous that he had balances that high. The second reason is the more common MS method with Citi, which he was doing daily. I’ve heard of others getting shut down due to this as well, so this is more likely the culprit (although once again, I know others who are doing this just fine.)
Either way, the lesson learned is definitely to try not to close cards with high balances in the current environment.
He had 2 Amex statement close or were the accounts closed ? The end of your sentence infers not to close the Amex accounts with high balances.
STATEMENTS close
sorry. New to your newsletter. MS means what? maximum spending? Not the same thing as CL credit limit?
https://milesperday.com/2015/09/common-acronyms-in-the-ms-world/
MS daily? Duh. That’s why he got shut down. Citibank is starting to close down accounts for those buying at Simon Malls VGC.
They won’t tell you the MS secret. If ya don’t know, ya don’t know. They’ll just report it when it stops working.
Citi has the easiest MSing of all time, free money without even leaving your house. Just amazing.
+1 still doing MS during this difficult timing?
Daily? Way to phone it in.
Got it. Thanx
Welcome
Cycling cl?
May I ask as to what this is as it is not ringing bells for me. I am about dead in the water right now on any kind of MS.
You write: ” The second reason is the more common MS method with Citi, which he was doing daily.”
Just can’t think of what it is.
What was the MS method?