Fidelity 2% CB Card Shut Down!!!

[bjd]

My 2% CB CC was cancelled without notice this week. After spending too much on the phone getting transferred throughout Fidelity's terrible back office, I was told that there is nothing that can be done to re-open. Apparently my spending pattern was too risky, despite never carrying a balance let alone being late on a payment. Worse, I have 65k rewards points that transfer into $650 in my account that are now frozen and can't be transferred to my brokerage account (still open).

Anyone else have this experience?

Dan -- if you are out there and there is any pressure we can put on Fidelity, please feel free to reach out to me if you need any more information before posting something and getting this issue more attention.

TIA

[Dan]

File a complaint with the CFPB.

[12HRS]

My 2% CB CC was cancelled without notice this week. After spending too much on the phone getting transferred throughout Fidelity's terrible back office, I was told that there is nothing that can be done to re-open. Apparently my spending pattern was too risky, despite never carrying a balance let alone being late on a payment. Worse, I have 65k rewards points that transfer into $650 in my account that are now frozen and can't be transferred to my brokerage account (still open).

Anyone else have this experience?

Dan -- if you are out there and there is any pressure we can put on Fidelity, please feel free to reach out to me if you need any more information before posting something and getting this issue more attention.

TIA

Did they say they will not give you the rewards?
I am guessing you were MSing? Running up your CL multiple times/month?

[bjd]

File a complaint with the CFPB.

Filed complaint. Will keep you posted.

[bjd]

Filed complaint. Will keep you posted.

They did say they would not release my rewards.

[SearchGuy]

File a complaint with the CFPB.

Shh... If trump reads this he will close them down...

[ChaimMoskowitz]

How many times a month did you cycle your CL? Were you buying GC's that rewards are not to be paid out on?

[bjd]

How many times a month did you cycle your CL? Were you buying GC's that rewards are not to be paid out on?

More than once

[ChaimMoskowitz]

More than once

You get my the first fork from my new supply. 

[noturbizniss]

More than once

How old is the card? I was cycling my limit 4 times if not more for months on end

[ChaimMoskowitz]

How old is the card? I was cycling my limit 4 times if not more for months on end

Everything works until it doesn't.

[bjd]

I filed a complaint with the CFPB last week, and just got a phone call from a manager at Fidelity explaining why my account raised flags. I had spent more than the 25k credit limit in my second billing cycle, all of my purchases were electronic, and most were with the same merchant. Since I have my brokerage and retirement accounts at Fidelity, they extended me a courtesy and re-opened the credit card and released my points.

Thanks for all of your advice.

[12HRS]

I filed a complaint with the CFPB last week, and just got a phone call from a manager at Fidelity explaining why my account raised flags. I had spent more than the 25k credit limit in my second billing cycle, all of my purchases were electronic, and most were with the same merchant. Since I have my brokerage and retirement accounts at Fidelity, they extended me a courtesy and re-opened the credit card and released my points.

Thanks for all of your advice.

It was a new card for you?
Mine is old and I have fidelity accounts...oh man time for me to hit it super hard.