topic Re: Close Truist or do nothing? in Business Credit

Close Truist or do nothing?

Swatch — Wed, 02 Jul 2025 20:46:21 GMT

I applied for a Truist business card as sole prop rather than with my companies because I heard the paperwork/verification is hard for a company. I was approved. I was hoping for a good SL due to personal income, but they gave me a kind of low SL. I don't want the card very much anymore because of SL and it's taken so long to receive, and these other reasons I'll get into.

After activating the card, it was declined on both very small charges I tried. I called them and she said I have to talk to their "retail lending department" to verify things, then they'd remove the block. But when I call, it says I'm calling "fraud management", and none of the menu options make sense for my situation, and they don't even say anything like "for all other calls, stay on the line". Mostly, I think they will give me a hassle in the future with large charges, online charges, being near the limit, or other things I do because it's already been such a problem with them, and I am planning to just use a different bank.

So can I sock drawer the card and ignore them, or would that have negative effects? Should I call them and say I want to close it, so it's consumer initiated closure? Won't it seem suspicious that I want to close it and won't they ask me to verify a bunch before allowing me to close it?

Re: Close Truist or do nothing?

pizzadude — Wed, 02 Jul 2025 21:08:36 GMT

What credit limit did they give you and how does it compare to your other cards ?

Re: Close Truist or do nothing?

SouthJamaica — Wed, 02 Jul 2025 22:40:59 GMT

@Swatch wrote:
I applied for a Truist business card as sole prop rather than with my companies because I heard the paperwork/verification is hard for a company. I was approved. I was hoping for a good SL due to personal income, but they gave me a kind of low SL. I don't want the card very much anymore because of SL and it's taken so long to receive, and these other reasons I'll get into.

After activating the card, it was declined on both very small charges I tried. I called them and she said I have to talk to their "retail lending department" to verify things, then they'd remove the block. But when I call, it says I'm calling "fraud management", and none of the menu options make sense for my situation, and they don't even say anything like "for all other calls, stay on the line". Mostly, I think they will give me a hassle in the future with large charges, online charges, being near the limit, or other things I do because it's already been such a problem with them, and I am planning to just use a different bank.

So can I sock drawer the card and ignore them,
Yes
or would that have negative effects?
No, except that they might close it someday for inactivity
Should I call them and say I want to close it, so it's consumer initiated closure?
It doesn't really matter, but sure you can call and close it
Won't it seem suspicious that I want to close it
No it won't seem suspicious
and won't they ask me to verify a bunch before allowing me to close it?
Just your identity -- i.e. social security number, birthday, etc.

Re: Close Truist or do nothing?

Swatch — Thu, 03 Jul 2025 03:56:05 GMT

@SouthJamaica wrote:
and won't they ask me to verify a bunch before allowing me to close it?
Just your identity -- i.e. social security number, birthday, etc.

Thank you!

If they will only ask for identity, maybe I'll keep it... how do you know they won't ask for POI?

Or at least ask me to re-state my income numbers (sole prop number and total number)? Also, I am not 100% sure of what my application said for income, but 95% sure.

Re: Close Truist or do nothing?

Swatch — Thu, 03 Jul 2025 03:59:49 GMT

@pizzadude wrote:
What credit limit did they give you and how does it compare to your other cards ?

They gave me $2500, and my personal and business cards vary a lot. I was expecting $7500-$10000 SL, and hoping for $12500 since some posts said they were generous. It's my only business sole prop card so far.

Re: Close Truist or do nothing?

SouthJamaica — Thu, 03 Jul 2025 19:42:04 GMT

@Swatch wrote:
@SouthJamaica wrote:
and won't they ask me to verify a bunch before allowing me to close it?
Just your identity -- i.e. social security number, birthday, etc.
Thank you!

If they will only ask for identity, maybe I'll keep it... how do you know they won't ask for POI?

Or at least ask me to re-state my income numbers (sole prop number and total number)? Also, I am not 100% sure of what my application said for income, but 95% sure.

If you're closing the account why would they care about your POI?

In any event, I've closed many accounts and never been asked any searching questions.

Re: Close Truist or do nothing?

SouthJamaica — Thu, 03 Jul 2025 19:43:25 GMT

@Swatch wrote:
@pizzadude wrote:
What credit limit did they give you and how does it compare to your other cards ?
They gave me $2500, and my personal and business cards vary a lot. I was expecting $7500-$10000 SL, and hoping for $12500 since some posts said they were generous. It's my only business sole prop card so far.

If it's the business's only business card, you should probably just stick around and try to use it.

Re: Close Truist or do nothing?

Swatch — Fri, 04 Jul 2025 04:21:45 GMT

@SouthJamaica wrote:

If you're closing the account why would they care about your POI?
In any event, I've closed many accounts and never been asked any searching question

Oh, I meant if I were trying to keep the card. I don't mind answering basic question and using the card a bit, but I don't want to jump through any hoops to keep the card. It has limited use since I expect them to be suspicious of larger online charges, especially in the first 2 to 6 months, which is what I needed it for. It has 0% for 9 months.

Re: Close Truist or do nothing?

IraqLobster — Tue, 19 Aug 2025 05:48:11 GMT

My advice to you is go in a branch and get a personal banker that can handle your personal and business accounts. My accounts got locked twice because I tried to zelle to myself and the stupid customer service agent wanted me to go to my local branch which was 2 hours away. I called my branch banker that said call him if he has any problems and unlocked my account in 5 mins lol

Re: Close Truist or do nothing?

IraqLobster — Tue, 19 Aug 2025 05:48:31 GMT

Also if you don't mind what limits did they throw you? I plan on applying really soon