I've had an Elan (Renasant Bank) MCP for the last 3 years that I've used to pay my utility bills each month. That's several hundred dollars each month and I paid in full religiously and never missed a payment. I also got an Everyday Rewards+ card that I briefly used for restaurant spend but has mostly been in the sock drawer for the last year or so.
Yesterday I tried to pay my gas bill with my MCP as is my usual routine and the transaction was declined. I called the number on the back of the card and they told me my account was closed, could not explain why, and gave me a number to call. So I called that number and spoke to someone else who looked me up and told me that "due to the terms of the deposit account agreement the accounts have been closed." I told him I don't have a deposit account, and asked what terms I was afoul of. He told me he couldn't tell me anything else.
So yeah... if you have account with Elan they might just shut you down and not tell you why.
They told me the closure was as of July 2, which was my last statement date. There was nothing about the closure on my statement. It's possible there's a letter in the mail, but I haven't received anything there either. And no email either.
I kept asking questions on the call but the guy would only say he could not tell me anything else. So I have no idea if I have documentation incoming or not.
I mainly used my card for utilities. Occasionally they would do a spend offer for like 5% on $1K at restaurants or whatever, and sometimes I went for it, but this was for the most part my utilities card.
Anyone have recommendations for rewards on utilities (other than USBank Cash+)?
Anyone have recommendations for rewards on utilities (other than USBank Cash+)?
Venmo Visa
@MrDisco99 wrote:I've had an Elan (Renasant Bank) MCP for the last 3 years that I've used to pay my utility bills each month. That's several hundred dollars each month and I paid in full religiously and never missed a payment. I also got an Everyday Rewards+ card that I briefly used for restaurant spend but has mostly been in the sock drawer for the last year or so.
Yesterday I tried to pay my gas bill with my MCP as is my usual routine and the transaction was declined. I called the number on the back of the card and they told me my account was closed, could not explain why, and gave me a number to call. So I called that number and spoke to someone else who looked me up and told me that "due to the terms of the deposit account agreement the accounts have been closed." I told him I don't have a deposit account, and asked what terms I was afoul of. He told me he couldn't tell me anything else.
So yeah... if you have account with Elan they might just shut you down and not tell you why.
That's a bummer. I've had similar experiences with Capital One, Bank of America, and Barclays, all at times when my scores were excellent and my utilization low. Never found out the actual reason, but I suspected it was because I was taking advantage of attractive balance transfer offers.
@ocheosa wrote:
@MrDisco99 wrote:I've had an Elan (Renasant Bank) MCP for the last 3 years that I've used to pay my utility bills each month. That's several hundred dollars each month and I paid in full religiously and never missed a payment. I also got an Everyday Rewards+ card that I briefly used for restaurant spend but has mostly been in the sock drawer for the last year or so.
Yesterday I tried to pay my gas bill with my MCP as is my usual routine and the transaction was declined. I called the number on the back of the card and they told me my account was closed, could not explain why, and gave me a number to call. So I called that number and spoke to someone else who looked me up and told me that "due to the terms of the deposit account agreement the accounts have been closed." I told him I don't have a deposit account, and asked what terms I was afoul of. He told me he couldn't tell me anything else.
So yeah... if you have account with Elan they might just shut you down and not tell you why.
@MrDisco99 , If you recall the app asked if you had a deposit account. I think the easy access to bank/credit union websites and issuing of cards w/o following guidelines is now being corrected.
Lately, when browsing different banks who have elan seriviced cards, I've noticed you have to login to online banking in order to apply for cards.
It was 3 years ago. I don't remember anything about that application process.
You reminded me of something I forgot to mention, though... when I asked about the supposed "deposit account agreement" the guy on the phone asked me if I'd remembered the document I'd signed when I accepted the card. Of course I told him no, because I don't remember signing anything, and even if I did, I certainly don't remember what was in it. He said I'd agreed to terms in that document. I asked what specific terms were causing my accounts to be closed and he couldn't answer. So I still don't know what document I supposedly signed or what was in it.
If cardholders are supposed to have deposit accounts and they are cracking down on that, then I guess that would be a reasonable explanation. He could've just said so, though. And it's kind of annoying for them to be enforcing that policy retroactively.
@MrDisco99 wrote:
Anyone have recommendations for rewards on utilities (other than USBank Cash+)?
Huntington Voice. I'd go with it over the Venmo Visa which is a Synchrony card.
@SouthJamaica wrote:
@MrDisco99 wrote:I've had an Elan (Renasant Bank) MCP for the last 3 years that I've used to pay my utility bills each month. That's several hundred dollars each month and I paid in full religiously and never missed a payment. I also got an Everyday Rewards+ card that I briefly used for restaurant spend but has mostly been in the sock drawer for the last year or so.
Yesterday I tried to pay my gas bill with my MCP as is my usual routine and the transaction was declined. I called the number on the back of the card and they told me my account was closed, could not explain why, and gave me a number to call. So I called that number and spoke to someone else who looked me up and told me that "due to the terms of the deposit account agreement the accounts have been closed." I told him I don't have a deposit account, and asked what terms I was afoul of. He told me he couldn't tell me anything else.
So yeah... if you have account with Elan they might just shut you down and not tell you why.
That's a bummer. I've had similar experiences with Capital One, Bank of America, and Barclays, all at times when my scores were excellent and my utilization low. Never found out the actual reason, but I suspected it was because I was taking advantage of attractive balance transfer offers.
Yeah I never did any of their BT offers even though they send me those blank checks just about every month. At least those will stop showing up now.
@MrDisco99 wrote:
So I called that number and spoke to someone else who looked me up and told me that "due to the terms of the deposit account agreement the accounts have been closed."
So yeah... if you have account with Elan they might just shut you down and not tell you why.
Uh...they DID tell you why.