Barclays just closed my account with a bizarre reason

[atarvuzdar]

OP, so sorry to hear about this.

Not sure if this helps, but when I closed my Barclay Rewards card recently, they told me I had 60 days to use any accrued points. Maybe you haven't lost them after all? Can you log onto your account and see them still available? I don't know if the circumstance is any different because they closed the account and you didn't, but it's worth a shot.

[Anonymous]

What's not adding up for me is this.  In the OP comments (very first post), he indicated he spent rougly $75K per month on that card, then about 6 replies later, said he had a CL of $50K?  Not sure I understand?

[Drwaz99]

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@Anonymous wrote:

What's not adding up for me is this.  In the OP comments (very first post), he indicated he spent rougly $75K per month on that card, then about 6 replies later, said he had a CL of $50K?  Not sure I understand?

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Use up your credit limit, pay it off, use up another 25K. 

[Anonymous]

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@Anonymous wrote:

What's not adding up for me is this.  In the OP comments (very first post), he indicated he spent rougly $75K per month on that card, then about 6 replies later, said he had a CL of $50K?  Not sure I understand?

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Because we often make a couple payments per month to open up the credit line prior to statement being due. 

[Anonymous]

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@Remedios wrote:

Turned out it was because she's a partial owner of medicinal marijuana dispensary.

Money from that store was never deposited or came near bank of america, but they were concerned about their "reputation" 

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Oh, that's where they draw the line on reputation. Yet they don't care about all the "other"possible reputation concernes, I've heard some very advers remarks by some about BoA's practices. I think Banks have bigger fish to fry in terms of reputation keeping than medicinal marijuana, consider the problems WF recently faced. And we all know every FI has been in the news for shady business practices.

This industry may still have a certain stigma to it, but it's quickly becoming legal all over. And has medical benefits. It's a far cry form some of the unscrupulous actions they've been responible for in the past!

[Remedios]

While that's true, we have to keep in mind that banks are subject to Federal regulations,  and marijuana is still illegal on federal level, so I understand their concern about having money deposited when they are aware of the source.

That's legal and political issue, so I'm going to stay clear from it.

My main point was that some "unexplainable" closures sometimes have nothing to do with account management by customers.

OP still hasn't approached AUs, pushing large business expenses through personal card, type of business, so I really dont think I can add anything else to this particular topic. 

I dont know much about this card, but if rewards are uncapped, recycling through limit, especially for prolonged period of time is never advisable, especially at that spend level.

If that's really the reason, then Barclay has been quite tolerant. Others would have put an end to it long time ago. We're not talking about CapOne $500.00 card here where such behavior is out of necessity. 

[Anonymous]

But it still federally illegal so none of the banks want to touch the money; it’s an all cash ordeal. Can’t even use a credit card!

Unless it’s to do a cash advance, and that’s with the ATM.

When the federal prohibition disappears, it will open up. That's crazy they closed her personal card behind that though.