Rapid movement of large sums of money between institutions is a sign of possible money laundering and some institutions play it safe by refusing transactions or shutting accounts. They also report suspicious activity.
CIT sure doesn’t seem to mind…And Incredible Bank sent me a gift and thank you note…they were sorry to see me go when I decided to leave them…
I just happen to have a lot of cash and in fact, set up a number of beneficiary designations in order to expand FDIC coverage…
ebanc is very small (one branch in miami and the internet bank which is run by a small group) they are mostly a latin america bank…i guess they weren’t use to seeing depositors that actually have a lot of money…LOL
Look at your billpay check image history. They aren’t on there.
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i might be late to the party with Alliant… but I signed up 8 months ago for the 3% cb. All was fine… Got 3 % on everything inc. Giftcard.com/giftcardmall. Have a cl of 10k but pay from savings and Cl goes back up. Not a big abuser or even close as i have about 6 other cards to MS on (OBC/ plus 2% cards…plus 3% Disc for first year… heavy on these. Plus Ink cards and Simply biz cards). So I check the CB balance and its way below the 3%. I had 2 GCMall purchases of 3k and 5K over 2 months. Emailed them and they stated “no CB on these sites.” So 1) is this new? I guess so as I got it before and 2) will buying a 500.00 card along with groceries in grocery store be denied?. Dont think they can tell but if it wont work,card is worthless. Comments? They can probably deduce that fact.
Whoa!! That is a very worrying outcome.
What I hear you saying is that they honored the 3% prior, then with no forewarning whatsoever later ceased giving you the 3% reward on the very same nature of charge?
If I’m understanding that right it is completely unacceptable. It totally leaves you holding the bag with no way to help yourself.
How could any of us anticipate AA (adverse action) like that? That is totally off the wall. It is BS.
On your grocery store question:
I have not done the GC (gift card) thing in grocery stores for a while. But back when I did I always included other items I needed so the GC purchase was not so obvious. I doubt they will bark at you for that or even be able to detect it. But since they seem to be making up rules retroactively, I cannot rule anything out.
The way it should work:
Alliant is free to make up any rules they want for this card. But they should not be free to change rules with no forewarning. So in this instance they should have awarded you the 3%, along with a warning that it was the final reward for such purchases. THAT would have been fair. What they appear to have done is NOT fair.
If you would not mind helping a fellow poster, could you say how you did that? I do not know how to check my CB balance. I only find out where I stand with CB when my statement actually closes.
Thanks
thanks for the fast reply. yeah no warning. So when the fee kicks in in 3 months I could chuck it and rely on my other ms cards. Yes… not fair but dont want to rock the boat. So I will test with groceries and a VGC for 500. So obviously they are watching our spending, but that happens with smaller outfits. I lost 2% on 8k in gift card spending. Those site are way too obvious to them. Just wonder if anyone else had this happen. But I feel buying too many VGC will also be denied,
you just click on the Visa Cashback sig card account… then on the right side it click on “Options” ( on same line as Visa CC account) then 3 lines down on the left column you will find “alliant cash back”. click it. Then I checked my statement spending per month and multiply by 3. it works. Everything was 3% till 3 weeks ago.
That’s true, unless they already had that rule, and they now just decided to start enforcing/just became able to enforce the rule. I’d say it’s a pretty good outcome, considering they may have technically had the right to claw back previously issued rewards. However, this is if they already had that rule in place.
No disagreement. Can only say if there were any limitations at all on the 3% I was unaware until seeing barry’s post.
Where do we go to view a list of such limitations? After all, if there is one there might be others as well. It is surely fair for any limitations whatsoever to exist. But it is NOT fair if no list of such limitations is published, leaving all cardholders flying blind.
I apologize for any misunderstanding. Yes, of course I know how to do that. But the total reported there only shows up following statement closure each month.
I misunderstood. I thought you had a way to check your awarded points in real time . . . shortly after the charge settles into the account. Some CC issuers offer this service, e.g., Barclays and Chase.
With a (nearly) real time readout of where you stand on points you can learn much earlier if you are in trouble, i.e., if they have failed to award points you were anticipating would be awarded but which were not.
Having to wait until one’s statement finally closes is a long time to wait to find out they have changed the rules and you have been cheated. In addition:
If their rules are subject to change, and if you pay your $59 continuation fee in anticipation of first-year rules being ongoing, you might end up with $59 of regret if they change the rules after you make that payment.
Again, they can set any rules they wish to set. But they have an obligation to tell cardholders in advance of any such changes.
“Alliant Cashback Visa Signature Card Program Terms and Conditions Summary:”
On Page 2
http://www.alliantcreditunion.org/images/uploads/files/VisaSignatureCreditCardDisclosure.pdf
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OK, guys, here it is. I telephoned Alliant and was directed to these terms and conditions. Unfortunately for Barry, his situation DOES appear to be covered by this passage:
Cash back is not eligible on finance charges, fees, cash advances, convenience checks, foreign transaction currency charges, Debt Protection charges, PIN-based purchases, payment of existing card balances, balance transfers, ATM transactions, Interlink-processed transactions, fees paid for pre-paid and re-loadable cards such as certain gift cards, or payments made for payment instruments that can readily be converted to cash (for example, travelers’ cheques, money orders, wire transfers, and similar products or services). You will earn 3% cash back on all eligible purchases in your first year of account opening, and then 2.5% thereafter
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Looks like they had someone smart write their terms.
Probably also should mention I attempted to ascertain my rewards accrual so far this statement cycle (cycle has not yet closed). Alliant is totally unable to provide this information in advance of statement closure. They have no clue.
So if you charge something to the card which is not 3% (or, in future, 2.5%) eligible, you will not know you’re in trouble until your statement closes.
thanks folks. Ill try for a grocery card and if that gets flagged, I have 3 months to cancel. As I said I have other cards to MS on, but nice to have more. Plus I use it for most other charges during the day. They’ll lose all the swipe fees, but they pobably dont like paying out 3%. BTW, what difference does it make (Hillary) if I buy from Gift card mall anyway? They consider it paying out too much?
That could be it, I think. Depends how many times/month you were/are turning over your credit line. I try to limit myself to a single use of the entire credit line each month. This in an effort to forestall AA (adverse action). Otherwise I would go nuts . . . . . . but Alliant probably would go nuts, too, and wipe me out.
Didnt this all happen 3 weeks ago?
Consider yourself luck if you didnt receive a knock-it-off warning letter for spending too much.
Weeks ago? Letter? Spending too much? Me?
Really have no clue whatsoever what it is you’re writing about.
It was Barry reporting the AA, not me. I think we all sort of worked together to reach the root of his dilemma, and he acknowledged as much. Read a bit further up thread and you will see this.
Well, yeah. And I didnt quote you or direct my response to you, now did I?
FYI, 3 weeks ago is when the latest statement cycled, when he saw that he was short cashback. And warning letters have been sent by Alliant in the past, when they decide they dont like how much you’ve been spending or what merchants you’ve been spending it at.