CNB shuts down a reader

There aren’t that many CNB shutdown stories since most people have voluntarily closed the cards, but a handful of us are still using the card. Anyway a couple of readers got shut down yesterday; they were notified by snail mail. This is the letter:

Naturally the first question you ask after a shutdown is – what’s your CL and how much did you cycle? He told me he had a 40K CL and didn’t cycle at all. He’s been doing this since July, so about 3 months worth. I thought this was odd since I have a 20K CL and I’ve been cycling 3-4X monthly for the past 5-6 months (hey, CNB used to not GAF back in the day.)

After some more prying, it seems the common denominator is actually on the redemption side of things. Both people seemed to be cashing out their points rather quickly (one person via travel and the 2nd person via statement credit(?)

The lesson learned here is to eh, let your points accumulate or don’t cash it out too fast?!? A 3rd person mentioned it was statement credit cashout that did them in. I think it’s ridiculous that they won’t let you cash out your points, but that’s the only thing we can think of. Or maybe it’s the quick earn and burn that they don’t like…