Creditors that will CLD you at the drop of a hat

[Anonymous]

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@Anonymous wrote:

Listen, I completely understand where CreditGuy is coming from here -- BofA is  bit ridiculous.  After reecently undergoing AA / closure from them, I  can say their practices can seem arbitrary and abrupt, and their Risk UW are quick to pull a trigger on you if they come across your account.  A co worker of mine was shut down days after me, when he called in and asked about a APR reduction and was transferred to a UW, who put him on hold and came back and said "not only can I not approve any kind of APR Reduction, but due to 3 new high trade line accounts in 3 months, we are exercising our right to close your line effective immediately" ... his score was 730, with low overall UTIL and MEGA HIGH INCOME !!!  They seem to HATE New accounts and available credit, as they see it as potential debt.  Do I fully disagree with them?  No.    

... HOWEVER ... Corporate America (huge comapnies like BofA, Citi, Chase) banks take such advantage of the daily consumer, most of us have no idea how badly we are screwed by them in terms of FEES on our accounts, interest hikes, etc.  Many conusmers (im sure NONE here though, lol) never even look at their bills, monthly statements etc, and these banks get away with scamming consumers out of millions of $$ per year in fees, etc.  In 2015 alone, I had about $300 in fees reversed -- simpyl by calling and pointing out "odd fees that did not belong".  Thats $300 for ONE CONSUMER.  So, it will be a cold day in he** before I ever feel bad for banks like BofA getting burned by consumers -- it makes up for how they often burn us as far as im concerned (NOT That i Advocate burning banks, defaulting etc).  I'm sure many will disagree, but some will see my point -- Id feel much worse "burning" or risking AA by "risky behavior" for a local small town CU (or even a bigger CU) than a national, blood sucking bank.    *RANT END !  

I feel ya, CreditGuy.  And to OP -- any lender can take AA, but in my experience the worst offenders are:

1) BARCLAY (Never happened to me, though - had Apple Visa for 2 years, I closed it)

2) BofA (Enough said)

3) COMENITY

4) CHASE

5) DISCOVER

6) AMEX, more rarely

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Nice rant. Good Points.

[Anonymous]

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@baller4life wrote:
I am sorry folks. I'm gonna take this stance. While I agree that creditors only react to information in your reports, some creditors are more sensitive than others. That is just a fact. If it were not true and it was only about something going on with YOU, why isn't it that you are not AA'd by EVERY lender? If it was really about something in your report that was so terribly wrong and warranted an AA. Why is it that only certain lenders react, ie, BOA,Barclays? You mean to tell me that you guys(kdm,takesha,etc) really do not believe that some creditors are more sensitive than others? I'm just not buying it. Sorry Charlie.

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Great post.

[Anonymous]

Never read a post about CreditOne taking AA

[CreditGuy03]

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@kdm31091 wrote:
Some banks are definitely more sensitive but I think it's best to arm yourself with knowledge on what causes AA and simply avoid the behaviors regardless of the issuers.

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Yes they typical things like many new accounts, inquiries or high util are normal factors.

With BOA like how many have stated in this thread it could be because the sky is blue that day.

I would stay far far away from these guys.

[CreditGuy03]

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@Anonymous wrote:
Never read a post about CreditOne taking AA

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Does Navy Federal or Capital One do AA's out of the blue like Barclays?

[bada_bing]

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@myjourney wrote:

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@baller4life wrote:
Thanks MJ. That's all I'm saying. Their sensitive/risk levels are definitely different. Which is why there tends to be a higher number of AA threads from Barclays and BOA. And yes, before they chime in, I do know AA can come from all lenders lol.

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And on that note Lol

Weather they're sensitive or not the fact remains you did something to cause them to first look and secondly to act

No one and I mean no one can show me a case and be willing to truthfully answer and let me dissect it to the bear bones and say I did nothing to be AA/CLD 

It didn't happen they just didn't pick you out of names in a hat and say we have a winner the odds are the same with the lottery and you haven't won that yet either ROFLOL

What? I'm just sayin

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In 2008 it is well established that AA rolled out on thousands, perhaps millions of cardholders for nothing

the cardholders did. BoA was the worst "offender" at the time. I personally had my AkAir visa slashed from

$50K~$12K and absolutely, positively nothing changed in my behaviors & profile then or since. It was

somewhat understandable in that BoA thought they were toast at the time and people were running around

doing "strategic defaults" on debts, especially mortgages. Besides AA, they did a couple things on my

account that didn't directly effect me, but appeared to be intentional fraud to beef up their balance

sheet for "stress tests". BoA raised my CL back from $12K > $50K at my request (and double HP) in 2012. The

CSR that I made the request to was fairly chatty about my comments about the HP, given that it was entirely

BoA (and so admitted by the CSR) that caused the original CLD.

Today and for the last few years, I'd agree that CLD doesn't happen without behavior/profile changes triggering

a computer algorithm based on risk & potential profit. Profit is the other side of the coin as far as issuer actions.

If you don't charge much and don't have the income to do so, you are going to run into issuers comfort level much

easier. If you swipe ~$100 a quarter on a card you've built up to $20K CL, it doesn't take much risk in the numerator

to tip the risk/reward ratio.

I still tolerate BoA because I get value from the AkAir card. I absolutely love Barclays. Neither is going to AA me for

anything I do, but there is always the possibility they can get in trouble. If it comes, there are lots of fish in the

credit sea and I don't need even 10% of my present credit limit to manage my spending just fine. If it all goes away,

there's cash in the bank . When cash doesn't work, there's a few ounces of gold and a few thousand rounds of

ammo in the safe and a few hundred pounds of dry beans and rice in the pantry, lol. Point being, we all have our

somewhat irrational fears. Fear the zombie apocalypse and potential AA won't seem so scary. 

[ddemari]

I think it’s hard  to make a blanket statement about AA in general, as most general credit card users will probably never deal with it. On the other hand, it’s easy for me to say that there are lenders out there that are sensitive and don’t value your relationship, payment history, good credit when they shut down or CLD your card. Over the past 4 years, I’ve gone from a handful of cards to dozens of cards. Barclays has CLD me before and comenity has shut down all my cards but the most hurtful was bank of America, as at the time the fico score they based their letter of was 722, I had about 4% utilization and a long history with them. Along with nothing negative or ever paying late, their computer said bye and they were not pleasant to deal with when I called and saw my card was no longer active. Chase, CapitalOne, Synchrony bank seem to just like usage and payment and I’ve been fine with them. I’d say their definitely are banks that want to cut ties before there is some possibility of extra risk from the consumer.

[Anonymous]

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@ddemari wrote:

I think it’s hard  to make a blanket statement about AA in general, as most general credit card users will probably never deal with it. On the other hand, it’s easy for me to say that there are lenders out there that are sensitive and don’t value your relationship, payment history, good credit when they shut down or CLD your card. Over the past 4 years, I’ve gone from a handful of cards to dozens of cards. Barclays has CLD me before and comenity has shut down all my cards but the most hurtful was bank of America, as at the time the fico score they based their letter of was 722, I had about 4% utilization and a long history with them. Along with nothing negative or ever paying late, their computer said bye and they were not pleasant to deal with when I called and saw my card was no longer active. Chase, CapitalOne, Synchrony bank seem to just like usage and payment and I’ve been fine with them. I’d say their definitely are banks that want to cut ties before there is some possibility of extra risk from the consumer.

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A bit disturbing about Bank of America, my main financial institution. Hummm

[baller4life]

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@ddemari wrote:

I think it’s hard  to make a blanket statement about AA in general, as most general credit card users will probably never deal with it. On the other hand, it’s easy for me to say that there are lenders out there that are sensitive and don’t value your relationship, payment history, good credit when they shut down or CLD your card. Over the past 4 years, I’ve gone from a handful of cards to dozens of cards. Barclays has CLD me before and comenity has shut down all my cards but the most hurtful was bank of America, as at the time the fico score they based their letter of was 722, I had about 4% utilization and a long history with them. Along with nothing negative or ever paying late, their computer said bye and they were not pleasant to deal with when I called and saw my card was no longer active. Chase, CapitalOne, Synchrony bank seem to just like usage and payment and I’ve been fine with them. I’d say their definitely are banks that want to cut ties before there is some possibility of extra risk from the consumer.

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ddemari I didn't know BOA closed your card. I knew about Comenity and Barclays. WOW. And they didn't give you any reason?

[ddemari]

they gave me a reason, it was last summer. they said, too much available credit and see ya later.