Jason forwarded this email for all of our information re: US Mint and coin deposits:
Just wanted to give you a heads up that AMEX still hasn’t send me a letter or any notice about the coin buying (SPG with 80K limit). I think it is because I have been mixing the transactions with other stuff.
However, I just got a call this morning from the Director of Card Services at Chase for the Marriott Premier Visa. He canceled my card for what he considered suspicious activity (1 suspicious transaction of buying coins). There was no option to lower the limit, not do it again, or anything. They were closing the account. In reviewing my credit report, they recently just did a pull on my credit too. Where I went wrong with this card I think is that I did a $22k purchase of coins with a $25K limit card many months ago. (I bolded this)
Also, regarding deposits, Chase and Wells Fargo have been phenomenal and taking about $5K to $10K at a time in coin. B ank of America has been an absolute pain as they constantly change the rules. 1 time, they had me unroll 5K worth of coin and then decide they only wanted to take 1 K. In looking at 5 K in coins in bags, I asked if they seriously wanted me to count it out as they didn’t have a counter and they ended up taking it, but I wanted to quit the game after that.
Anyway, FYI for you and your readers in addition to all of the other experiences you have received.
As suggested in the past: there are consequences for large purchases close to your credit limits. I’m always at 50% or less with mine and Katy’s.
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