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Sorry to read/hear this. On the bright side you have some NICE credit cards in your file!
I seriously hope that I am a one-off closure.
The thing is, I am not sure WHY I would be a one off closure. My utilization is very low (2%), no lates, no collections, etc.
I'm curious to see the coming week. I REALLY hope that BBVA doesn't go all Oregon CCU on us.
@FinStar wrote:
@Anonymous wrote:
@Anonymous wrote:I posted this in my mega approvals thread:
UH OH -- Could be another duck card?
Tried to swipe two transactions today -- DECLINED
One was small ($7), one was large ($800).
Called BBVA, transferred to their "declines" department.
She said that my account is CLOSED. And there is no reason other than "banks discresion"
So they open my $20k line, and they close it? Seriously? It worked yesterday.
She said I can either go into a branch (30 minutes away), or re-apply.
I'm not a happy camper. I've done nothing wrong or risky to make them "close" my account.
Thats strange... I activated my card today, a rep helped me to set up my account online and everything was fine. We will have to see why they went to this direction. I made several co-workers to apply for this card too, let see how this goes !
I haven't used mine yet since I went through the activation process earlier today as well and everything went without a hitch. So, out to play it goes tomorrow. I will provide feeback as well during my usage and through the next days/weeks as well. I guess if they start to get cold feet, they'll just rescind the CCs or claw back the approvals. No loss for me but it's certainly concerning given the OP's experience.
I will post what ever happens to me, I know that you and I have the highets CL posted so far so let see ( if they close it, I will dispute the HP) but until then, lets enjoy it !!!
@Anonymous wrote:I seriously hope that I am a one-off closure.
The thing is, I am not sure WHY I would be a one off closure. My utilization is very low (2%), no lates, no collections, etc.
I'm curious to see the coming week. I REALLY hope that BBVA doesn't go all Oregon CCU on us.
OP, we are not sure what happened. You are the first one we know so far that the account was closed. I saw your post and your score was 742 at the time of approval and you have some nice limits. The strange things is that they did not give you an explanation.
On the other note, I saw on you post that they called you for verification? Did you have any fraud alert on your reports?
@baller4life wrote:WOW!!! A credit union that gave out $75mil in credit on this board alone??? WTH did that info come from??? #quackquack
Baller - before misinformation starts going hogwild, BBVA Compass is not a CU. And, the individual seems to have exaggerated the numbers (I'm assuming for sensationalism?) but at most from statistical assumptions, even with the most recent numbers and taking the mean for most approvals here in the last week or so (not including folks who haven't reported their outcome) I get about $2MM as a conservative estimate. Now, let's assume another number just for the myFICO effect for this board, say 70 myFICOites applied and each got approved for $30,000 out the door, that just comes to about $2.1MM. Obviously, I dont' have BBVA's CC lending results but they would have had to have stopped all commercials and any other advertisements to stop the bleeding, if any!
Not sure where the above poster got $75MM.
@Anonymous wrote:I seriously hope that I am a one-off closure.
The thing is, I am not sure WHY I would be a one off closure. My utilization is very low (2%), no lates, no collections, etc.
I'm curious to see the coming week. I REALLY hope that BBVA doesn't go all Oregon CCU on us.
Yes, something is amisss and what you've shared doesn't make a whole lot of sense. Other than to correlate what's happened with NASA, BMO Diners or even OCCU.
That sucks Sorry to hear that!!!! I will definitely pay attention to this thread and my account. I was approved on sunday for 20k, with a lot of new accounts opened in the past 6 months, i hope that doesnt scare them now and close my account. Its making me NOT wanna use the card when i recieve it!!!!
@FinStar wrote:
@baller4life wrote:WOW!!! A credit union that gave out $75mil in credit on this board alone??? WTH did that info come from??? #quackquack
Baller - before misinformation starts going hogwild, BBVA Compass is not a CU. And, the individual seems to have exaggerated the numbers (I'm assuming for sensationalism?) but at most from statistical assumptions, even with the most recent numbers and taking the mean for most approvals here in the last week or so (not including folks who haven't reported their outcome) I get about $2MM as a conservative estimate. Now, let's assume another number just for the myFICO effect for this board, say 70 myFICOites applied and each got approved for $30,000 out the door, that just comes to about $2.1MM. Obviously, I dont' have BBVA's CC lending results but they would have had to have stopped all commercials and any other advertisements to stop the bleeding, if any!
Not sure where the above poster got $75MM.
I am not sure where the $75MM come from either.
@FinStar wrote:
@Anonymous wrote:I seriously hope that I am a one-off closure.
The thing is, I am not sure WHY I would be a one off closure. My utilization is very low (2%), no lates, no collections, etc.
I'm curious to see the coming week. I REALLY hope that BBVA doesn't go all Oregon CCU on us.
Yes, something is amisss and what you've shared doesn't make a whole lot of sense. Other than to correlate what's happened with NASA, BMO Diners or even OCCU.
I was away from the boards due to hospitality conferences at the time of NASA blowing up, but did NASA end up correcting their generous lending limits?