wow, they closed my beaver card....

[iwazl71]

I survived the initial OCCU duck / beaver card closures and have had the card for 18 months now, got an letter today stating that after doing an initial risk assessment, they have closed my 20k Beaver card.   The funny thing was when I logged in, it still said i had the 20k limit available, so I called and they said it was closed.  I ran an occasional charge once or twice every other month, always PIF.  credit scores in the high 790s with only 1 inq.  1st ever closure by a bank. smh

[Ron1]

Sorry to hear!!!! Did you try to use it to see if it was closed?

Ron.

[Involver]

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@iwazl71 wrote:

I survived the initial OCCU duck / beaver card closures and have had the card for 18 months now, got an letter today stating that after doing an initial risk assessment, they have closed my 20k Beaver card.   The funny thing was when I logged in, it still said i had the 20k limit available, so I called and they said it was closed.  I ran an occasional charge once or twice every other month, always PIF.  credit scores in the high 790s with only 1 inq.  1st ever closure by a bank. smh

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It's a nicely worded excuse to close your account, the actual reason being "we're closing all of these out of state applicants after getting in over our heads."

[iwazl71]

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@Ron1 wrote:

Sorry to hear!!!! Did you try to use it to see if it was closed?

Ron.

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No, i got the letter,  Have not used the card in a month.  Good riddance..

[Ron1]

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@iwazl71 wrote:

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@Ron1 wrote:

Sorry to hear!!!! Did you try to use it to see if it was closed?

Ron.

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No, i got the letter,  Have not used the card in a month.  Good riddance..

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Sorry to hear. It is not your fault. They have been closing people's cards.  I just checked mine and it is still working. I linked my card to iTunes to see if my card is good. 

[Credit-hoarder]

Mine is still operable also...but the limit is only $1500-LOL. I just paid my electric bill with it. It seems that most of the closures only involved the higher limits--I.e. $7K and up.

[Anonymous]

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@iwazl71 wrote:

I survived the initial OCCU duck / beaver card closures and have had the card for 18 months now, got an letter today stating that after doing an initial risk assessment, they have closed my 20k Beaver card.   The funny thing was when I logged in, it still said i had the 20k limit available, so I called and they said it was closed.  I ran an occasional charge once or twice every other month, always PIF.  credit scores in the high 790s with only 1 inq.  1st ever closure by a bank. smh

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Translation:

We're idiots and we far exceeded our allowed underwriting risk so you, the excellent cardholder, are SOL.

[FinStar]

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@Credit-hoarder wrote:

Mine is still operable also...but the limit is only $1500-LOL. I just paid my electric bill with it. It seems that most of the closures only involved the higher limits--I.e. $7K and up.

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Not really, on the other boards there were folks whose accounts were also closed and their CLs were less than $7K (not sure where that figure came up?).  I'm sure everyone who doesn't fit their current business operating model will also get axed,  Thankfully I closed mine before they took it away (which of course they could do at any time).

[FinStar]

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@iwazl71 wrote:

I survived the initial OCCU duck / beaver card closures and have had the card for 18 months now, got an letter today stating that after doing an initial risk assessment, they have closed my 20k Beaver card.   The funny thing was when I logged in, it still said i had the 20k limit available, so I called and they said it was closed.  I ran an occasional charge once or twice every other month, always PIF.  credit scores in the high 790s with only 1 inq.  1st ever closure by a bank. smh

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There's a couple threads circulating around about this.  Creditaddict just posted on this one:

http://ficoforums.myfico.com/t5/Credit-Cards/Duck-Card-Closed/m-p/4105736/highlight/false#M1156347

[Credit-hoarder]

It seems back when they wereposting the approvals almost 2 years ago, most people got good to hefty CLs (upward of $7K or more) or they got practically nothing like I did ($1500). Didn't remember seeing very many $5K approvals for the Duck or Beaver cards at the time.