BlockFi Suspends Purchasing Privileges Effective 11/11

[rgate88]

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@Matt9543 wrote:

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@FinStar wrote:

@rgate88 - frequent communications have been sent by BlockFi regarding the recent suspension. I would assume you subscribed to email communications since you're able to authenticate access to your BlockFi account? At any rate, please reference the above discussion on the topic.

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Wouldn't a suspension and account closure be different though? Typically account suspensions do not result in full account closures, and this is the only report we've seen of this so far regarding BlockFi

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I am subscribed and get all the communication from BlockFi regarding the BK situation. I saw nothing regarding closing accounts, rather I know of the suspension of the use of their CC. All of a sudden I just get a notification saying my account is closed as reported on CK. I have a ticket in to BlockFi trying to figure out what's going on and I'll happily update, but since this was the first I saw of this, thought I'd share it. Hopefully it's just a fluke. 

[12njoy]

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@rgate88 wrote:

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@Matt9543 wrote:

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@FinStar wrote:

@rgate88 - frequent communications have been sent by BlockFi regarding the recent suspension. I would assume you subscribed to email communications since you're able to authenticate access to your BlockFi account? At any rate, please reference the above discussion on the topic.

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Wouldn't a suspension and account closure be different though? Typically account suspensions do not result in full account closures, and this is the only report we've seen of this so far regarding BlockFi

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I am subscribed and get all the communication from BlockFi regarding the BK situation. I saw nothing regarding closing accounts, rather I know of the suspension of the use of their CC. All of a sudden I just get a notification saying my account is closed as reported on CK. I have a ticket in to BlockFi trying to figure out what's going on and I'll happily update, but since this was the first I saw of this, thought I'd share it. Hopefully it's just a fluke. 

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I checked all my reports Experian, Equifax and CK for TU and BlockFi is still there as open as of November 28, 2022.

EquifaxCK - TUExperian

[FinStar]

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@rgate88 wrote:

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@Matt9543 wrote:

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@FinStar wrote:

@rgate88 - frequent communications have been sent by BlockFi regarding the recent suspension. I would assume you subscribed to email communications since you're able to authenticate access to your BlockFi account? At any rate, please reference the above discussion on the topic.

---

Wouldn't a suspension and account closure be different though? Typically account suspensions do not result in full account closures, and this is the only report we've seen of this so far regarding BlockFi

---

I am subscribed and get all the communication from BlockFi regarding the BK situation. I saw nothing regarding closing accounts, rather I know of the suspension of the use of their CC. All of a sudden I just get a notification saying my account is closed as reported on CK. I have a ticket in to BlockFi trying to figure out what's going on and I'll happily update, but since this was the first I saw of this, thought I'd share it. Hopefully it's just a fluke. 

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Other than the known customer-wide accounts suspension, did BlockFi/Evolve confirm that your account was not closed? Prior to 11/11, when was the last time you used the card?

[rgate88]

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@FinStar wrote:

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@rgate88 wrote:

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@Matt9543 wrote:

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@FinStar wrote:

@rgate88 - frequent communications have been sent by BlockFi regarding the recent suspension. I would assume you subscribed to email communications since you're able to authenticate access to your BlockFi account? At any rate, please reference the above discussion on the topic.

---

Wouldn't a suspension and account closure be different though? Typically account suspensions do not result in full account closures, and this is the only report we've seen of this so far regarding BlockFi

---

I am subscribed and get all the communication from BlockFi regarding the BK situation. I saw nothing regarding closing accounts, rather I know of the suspension of the use of their CC. All of a sudden I just get a notification saying my account is closed as reported on CK. I have a ticket in to BlockFi trying to figure out what's going on and I'll happily update, but since this was the first I saw of this, thought I'd share it. Hopefully it's just a fluke. 

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Other than the known customer-wide accounts suspension, did BlockFi/Evolve confirm that your account was not closed? Prior to 11/11, when was the last time you used the card?

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Still waiting on this response. I used it days before everything happened, and the purchase was for about $1,500. Paid it off days later. So did nothing that would have been seen as odd. I had the card for about 8 months before this. And received no notice regarding the closure of my card from Deserve or Block-Fi. I have received the same thing everyone else has, so this has come as quite a surprise. 

Certainly not meaning to try and take over the thread, and I feel like I'm bit a crazy with this. But happy to provide anything else for proof. 

[jojo79]

So given everything going with them, I kind of expected this to happen, but to date I haven't receved any communication about the CC getting closed, only that all transactions had been frozen.

All CB's are now reporting the account as closed (with TU taking a 5 point hit due to reduction in total bankcard limits), but the weird thing is, the account is still active when I log into the BlockFI app or website

I would have expected an email or letter giving a heads up, and the website to show as closed...??

In any event, it sucks to lose $14K in overall limits but recent CLI's on other accounts will make up for it

[FinStar]

@jojo79 - please reference discussion upthread.

[jojo79]

@FinStar - I'd seen this thread but wasn't sure if I should add to it or start a new post; thanks for merging!

It will be interesting to see if another company does end up taking over these CC accounts.

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@FinStar wrote:

@jojo79 - please reference discussion upthread.

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[FinStar]

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@jojo79 wrote:

@FinStar - I'd seen this thread but wasn't sure if I should add to it or start a new post; thanks for merging!

It will be interesting to see if another company does end up taking over these CC accounts.

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@FinStar wrote:

@jojo79 - please reference discussion upthread.

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Sure, no worries.

Things are still in flux with their recent BK filing, but hopefully there's an interested party that would be willing to purchase the portfolio depending on the CH11 outcome. I would definitely enjoy continuing to use the card 😎

[trant3]

Recieved notification yesterday from all 3 bureaus that my BlockFi credit card has been closed by creditor. I knew I shouldve never gotten this card. Oh well, luckily, I have no outstanding balance on it.

[PapaTunde]

This becomes my first metal card to be closed

What is funny is that my online account still shows my available balance as $25k