Posted by William Charles on August 20, 2019
Recaps

Published on August 20th, 2019 | by William Charles

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Recap: Hotel Shuttle Van Tracking, WeWork IPO Shock & More

 

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YoniPDX
YoniPDX

Rr: Chase shut down,

Dear Vinh,

Chase’s account review team noticed that you were exhibiting signs and a concerning pattern that we see in rare cases of “Shut down withdrawal syndrome “.

We observed that it had been an usually period and that you had settled into a comfort zone since the sting of your last shutdown was nostalgic too you and fading in the rear-view of mirror of memories.

MoreSun
MoreSun

I do not suspect credit cards were the reason. All the data we have says Chase Banking Division and Credit Card Division are entirely separate and shutdowns in one do not cross over to the other.

I wonder if the poster is a victim of mistaken ID shutdown. I’ve seen that before where someone had their bank account shutdown by Chase, eventually found out they’d been blacklisted by Chase Banking due to past behavior- except it wasn’t their behavior. They went round and round and finally Chase conceded they weren’t the crook and it was a case of mistaken ID because the person had the same name.

YoniPDX
YoniPDX

MoreSun

Nah, Vinh is known for going big and going hard amonst the Card Shark Bloggers.

Cap1 shut him down over P2P payments a few years back as well. Most Zelle users in America don’t P2P $2.5k approx in three transfer’s. I doubt most people transfer over$200-$250 very often.

Vinh is an amusing read but also knows a a good bit about the game.

Gadget 🕵️

+1. Zelle is what caught my eye too. It’s intended to be used to pay somebody back for lunch… Not a 4 digit paycheck.

Hunt
Hunt

I don’t see how this could be suspicious behavior. Someone could be paying rent to their roommate every month in the 4 digits.

MrObvious
MrObvious

Except most people don’t have 3 rent payments for different amounts due in a 3 week period and then nothing for many months.

Gadget 🕵️

Hunt Did you look at the activity? Do you pay $2750 in two weeks time and in 3 different transactions of odd amounts? No, you would pay rent once or twice a month.

And maybe it’s not the amounts, or even the senders account, but the recipient that was seen as shady.

Or, could be something that is not part of the Chase statement transactions. As someone who is banned from Discover bank and had a shutdown, I know all it takes is one little errant transaction to throw up a flag on some pencil pushers review in the fraud prevention dept. In my case, I believe it was failed trial deposits going out of Discover, not being returned, caused them to see my very ACTIVE financial lifestyle. After that fraud alert, they hard pulled my Chex, without my consent or knowledge, and shut my checking & savings accounts down. At least they gave me a 30 day warning. A month later they shutdown my Discover CC, this time w/o warning. This was two+ years ago, and when I try to apply at Discover Bank now, after I enter my SSN, it says the page is down. LOL. I was able to get a new Discover card last year, so there is hope.

Chase is not exactly the best bank to be using for transfers anyway. There is a PSA on it here: https://www.doctorofcredit.com/psa-dont-use-ach-pull-for-chase-bank-account-openings-avoid-account-lockup/

I am willing to bet they pulled his EWS due to the large Zelle transactions, and said bye bye. Zelle is owned by EWS too, and Chase another EWS hound. If I was him, I would get a copy of my EWS right after they close the Chase account and see if there are any nasty notes.

jobin
jobin

I do zelle transfer in 4 digits a lot of times from 2-3 different accounts.

Gadget 🕵️

Congrats. Security algorithms they use must be in your favor.

qmc
qmc

I zelle myself occasionally, I wonder if that counts. It has my name on both ends.

Biggie F
Biggie F

I take your point about Vinh, but, man, have you got kids? Like, young adult kids, where you feel like you are getting away easy if you are *only* having to send them four-digit Zelle transfers? Trust me, it happens.

MoreSun
MoreSun

Ah! Didn’t know!

YoniPDX
YoniPDX

Further reading, He was also using his Mom’s SB debit/pre-paid card that got shut down .

So I’m thinking this might be what acctually got eyes on the acct, isong his with his moms SB Dee card he said he was “….12K-$15K of spend on the card a month for the past 3-4 months.”.

12-$15K on a SB debit card is kinda of outlier behavior.

Jay
Jay

Much more interested in what the ‘play’ is here, considering he has 3 cards (himself, wife and mom) and was doing 12-15k/month on each, so running up to 45k through it.

Does one really need that much free coffee…? 😉

And whenever I’m clueless, normally I rely on DoC’s help, but nothing seems to be mentioned here: https://www.doctorofcredit.com/chase-and-starbucks-launch-a-prepaid-reloadable-card-with-no-fees/

William Charles , any more pointers or at least some general advice if finding out more is even recommended (considering the risk of a potential total Chase shutdown)??

YoniPDX
YoniPDX

Well, if he is buying GC at SB kiosks in grocery stores – but still trying to see the MS angle because, yeah that’s a lot of Coffee products and seems like a lot of work for stars.

Honestly Churning SB accounts and working promo’s near the end of the quarter seems like a far easier way to collect stars then using the 50 star hack

slowbrake
slowbrake

I don’t know his angle, but for me the stars are just icing on the cake.

MrObvious
MrObvious

Sometimes you have to read other sites too.

Celia
Celia

That is odd activity on the account. I have an account I just deposit and withdrawal cash or use zell but I change up deposits and use a debit card for a buck or two once in awhile. The activity list there is too systematic.

YoniPDX
YoniPDX

Vinh is kinda of famous for his Velocity, cycling CL, and going big to exploit loopholes – not a slam at all but he wears it like a badge of honor – at least he presents it that way.

I read some of his recent posts from past month.

Chase shutdown P#3 (mom) Starbucks debit card heree why I susspect

“….12K-$15K of spend on the card a month for the past 3-4 months.”.

12-$15K on a SB denit card is kinda of outlier behavior.

But Vinh has also been backlisted or banned by Cap1, Barclays, US Bank, Citi, Chase. As well IIRC Ticketmaster, Amazon, e-Bay, even a small local CU in the Seattle area.

Howard
Howard

Does anyone know what he was doing exactly with the SB prepaid? I can’t imagine reselling SB merchs would be worthwhile.

Jay
Jay

Exactly my own thoughts, see my post above..

Especially considering that he himself mentions having cards for himself, wife, mum, so 45k/month?
And all that versus the risk of being banned from future churning of Chase CC’s and bank bonusses?

Starbucks really must make the best free coffee by far… 😀

Parts Unknown

He’s already banned from Chase cc

Debit
Debit

We work is completely useless. Who pays 2500 or whatever for that subscription.

The closest we work I have is in downtown. Drive and pay for parking. Only get coffee and water. And only get a spot on a communal desk and 120 pages a month to print.

I can go to library that is closer for free.

Amex is touting this as a benefit of its card? Useless.

Flea
Flea

I’m guessing the 62 buildings in NYC have something to do with that valuation… for a while there I was seeing multiple random new builds with their name on it just walking around the blocks in circles.

slowbrake
slowbrake

Big thanks to Vihn for being transparent and pushing limits.

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