topic Re: FNBO M-Life CLD in Credit Cards

FNBO M-Life CLD

awg420 — Sat, 21 Dec 2019 13:58:59 GMT

Hey guys, I opened this card a few months back and booked a trip right after. Some things came up and I didn't pay off the balance until this week (40% of the card was being used). Got notifications today that the account was reported paid off but also that they CLD me from $1400 to $1000. Super confused why the would balance chase a card that was already paid off.

Re: FNBO M-Life CLD

CreditInspired — Sat, 21 Dec 2019 14:53:53 GMT

@awg420 wrote:
Hey guys, I opened this card a few months back and booked a trip right after. Some things came up and I didn't pay off the balance until this week (40% of the card was being used). Got notifications today that the account was reported paid off but also that they CLD me from $1400 to $1000. Super confused why the would balance chase a card that was already paid off.

Hi there and sorry to hear about the CLD,

Once one is in the computer's algorithms line-of-sight for at-risk behavior, which I'm surprised 40%UT would have caused AA, the CCC is just waiting for the account to be PIF, unfortunatey for the consumer, before they slash the CL.

So two questions: were you only making minimum payments and are there other cards in your pocket with high UT? If yes, this could be the reason too.

So in the future to avoid AA on any cards, just make 3-5X minimum payments. And, also, knock-on-wood, it was just a $400 CLD and not closure. Once you show that you're no longer a risky consumer, you should get your CL back.

Re: FNBO M-Life CLD

awg420 — Sat, 21 Dec 2019 15:20:20 GMT

Only made 1 min payment. The rest were all 7x the min payment amount. The 1 min payment was during a move so autopay kicked in.

Re: FNBO M-Life CLD

AverageJoesCredit — Sat, 21 Dec 2019 16:21:29 GMT

Weird indeed. 40% isnt end of world and 7x payments is pretty decent. If they cld on that kindof usage, they might not be right lender for you. I know there are risks involved but they know we have cards to use not sit there

Re: FNBO M-Life CLD

Anonymous — Sat, 21 Dec 2019 16:31:29 GMT

@awg420 wrote:
Hey guys, I opened this card a few months back and booked a trip right after. Some things came up and I didn't pay off the balance until this week (40% of the card was being used). Got notifications today that the account was reported paid off but also that they CLD me from $1400 to $1000. Super confused why the would balance chase a card that was already paid off.

Do they do regular soft pulls like Amex does? Just a shot in the dark, but if they don't, perhaps they thought you were at 40% or higher all around.

Only making that one initial purchase and nothing afterwards may also have triggered it?

Re: FNBO M-Life CLD

awg420 — Sat, 21 Dec 2019 16:32:20 GMT

@AverageJoesCredit wrote:
Weird indeed. 40% isnt end of world and 7x payments is pretty decent. If they cld on that kindof usage, they might not be right lender for you. I know there are risks involved but they know we have cards to use not sit there

Exactly my thoughts AJC! Hopefully, like @CreditInspired said, once they don't think I'm a risk they'll give me back the rest of my limit or more. Glad I have other cards to use and this is not a catostrophic blow to overall util.

Re: FNBO M-Life CLD

awg420 — Sat, 21 Dec 2019 16:33:19 GMT

@Anonymous wrote:
@awg420 wrote:
Hey guys, I opened this card a few months back and booked a trip right after. Some things came up and I didn't pay off the balance until this week (40% of the card was being used). Got notifications today that the account was reported paid off but also that they CLD me from $1400 to $1000. Super confused why the would balance chase a card that was already paid off.
Do they do regular soft pulls like Amex does? Just a shot in the dark, but if they don't, perhaps they thought you were at 40% or higher all around.

Only making that one initial purchase and nothing afterwards may also have triggered it?

Card was used for initial purchase and a few after to meet the SUB

Re: FNBO M-Life CLD

CreditInspired — Sat, 21 Dec 2019 16:37:36 GMT

@AverageJoesCredit wrote:
Weird indeed. 40% isnt end of world and 7x payments is pretty decent. If they cld on that kindof usage, they might not be right lender for you. I know there are risks involved but they know we have cards to use not sit there

Re: FNBO M-Life CLD

Brian_Earl_Spilner — Sat, 21 Dec 2019 16:53:53 GMT

FNBO is a conservative lender and is risk adverse. I would reach out and explain why the lone minimum payment occurred and see if they'll restore your limit. I'm not sure how they react once you've been with the for a while.

Re: FNBO M-Life CLD

M_Smart007 — Sat, 21 Dec 2019 18:00:32 GMT

@awg420 wrote:
Only made 1 min payment. The rest were all 7x the min payment amount. The 1 min payment was during a move so autopay kicked in.

OP Sorry for your CLD, Have you opened many new cards lately?

Re: FNBO M-Life CLD

UncleB — Sat, 21 Dec 2019 19:28:38 GMT

@awg420 wrote:
Hey guys, I opened this card a few months back and booked a trip right after. Some things came up and I didn't pay off the balance until this week (40% of the card was being used). Got notifications today that the account was reported paid off but also that they CLD me from $1400 to $1000. Super confused why the would balance chase a card that was already paid off.

What do your scores look like?

Re: FNBO M-Life CLD

FinStar — Sat, 21 Dec 2019 21:47:39 GMT

@Brian_Earl_Spilner wrote:
FNBO is a conservative lender and is risk adverse. I would reach out and explain why the lone minimum payment occurred and see if they'll restore your limit. I'm not sure how they react once you've been with the for a while.

IIRC, they typically won't restore the CL without a HP. It's probably best to let things rest and rebuild the internal profile with them after AA. In addition to what @UncleB mentioned above, have there been any other recent changes with your overall profile in the past 3 months? (utilization, scores, inquiries, new accounts, etc.).

Re: FNBO M-Life CLD

awg420 — Sat, 21 Dec 2019 21:57:08 GMT

@FinStar wrote:
@Brian_Earl_Spilner wrote:
FNBO is a conservative lender and is risk adverse. I would reach out and explain why the lone minimum payment occurred and see if they'll restore your limit. I'm not sure how they react once you've been with the for a while.
IIRC, they typically won't restore the CL without a HP. It's probably best to let things rest and rebuild the internal profile with them after AA. In addition to what @UncleB mentioned above, have there been any other recent changes with your overall profile in the past 3 months? (utilization, scores, inquiries, new accounts, etc.).

3 new cards were opened since the FNBO account. Util did spike for a 1 quick report (30% to 50%) and is now sitting at 28%. 3 new inquires since the FNBO app for the 3 new cards.

Re: FNBO M-Life CLD

FinStar — Sat, 21 Dec 2019 22:45:37 GMT

@awg420 wrote:
@FinStar wrote:
@Brian_Earl_Spilner wrote:
FNBO is a conservative lender and is risk adverse. I would reach out and explain why the lone minimum payment occurred and see if they'll restore your limit. I'm not sure how they react once you've been with the for a while.
IIRC, they typically won't restore the CL without a HP. It's probably best to let things rest and rebuild the internal profile with them after AA. In addition to what @UncleB mentioned above, have there been any other recent changes with your overall profile in the past 3 months? (utilization, scores, inquiries, new accounts, etc.).
3 new cards were opened since the FNBO account. Util did spike for a 1 quick report (30% to 50%) and is now sitting at 28%. 3 new inquires since the FNBO app for the 3 new cards.

More than likely that's what did it OP. They typically SP like any other lender during periodic account reviews and those activities may have set some alarms. On the bright side, they didn't close the card. In the past, most AA instances from FNBO typically ended in account closures.

Re: FNBO M-Life CLD

awg420 — Sun, 22 Dec 2019 16:00:46 GMT

@FinStar wrote:
@awg420 wrote:
@FinStar wrote:
@Brian_Earl_Spilner wrote:
FNBO is a conservative lender and is risk adverse. I would reach out and explain why the lone minimum payment occurred and see if they'll restore your limit. I'm not sure how they react once you've been with the for a while.
IIRC, they typically won't restore the CL without a HP. It's probably best to let things rest and rebuild the internal profile with them after AA. In addition to what @UncleB mentioned above, have there been any other recent changes with your overall profile in the past 3 months? (utilization, scores, inquiries, new accounts, etc.).
3 new cards were opened since the FNBO account. Util did spike for a 1 quick report (30% to 50%) and is now sitting at 28%. 3 new inquires since the FNBO app for the 3 new cards.
More than likely that's what did it OP. They typically SP like any other lender during periodic account reviews and those activities may have set some alarms. On the bright side, they didn't close the card. In the past, most AA instances from FNBO typically ended in account closures.

That's true. Hopefully during more SP reviews they'll see that the spike was an annomaly.

Re: FNBO M-Life CLD

awg420 — Sun, 22 Dec 2019 16:01:21 GMT

Also scores have stayed between 650-680 during the whole time.

Re: FNBO M-Life CLD

UncleB — Sun, 22 Dec 2019 23:38:43 GMT

@awg420 wrote:
Also scores have stayed between 650-680 during the whole time.

IMHO this ^^^ was a likely primary contributing factor to the CLD. With higher scores they probably would have had no issues with the utilization spike.

Other than utilization, what else is holding your scores back?

Re: FNBO M-Life CLD

awg420 — Mon, 23 Dec 2019 05:04:38 GMT

@UncleB wrote:
@awg420 wrote:
Also scores have stayed between 650-680 during the whole time.
IMHO this ^^^ was a likely primary contributing factor to the CLD. With higher scores they probably would have had no issues with the utilization spike.

Other than utilization, what else is holding your scores back?

Utilization and AAoA is what seems to be keeping my scores down. New accounts are keeping my age low. 14 new accounts currently reporting under 2 years of age out of 24 total.