topic Re: FNBO Evergreen Closed in Credit Cards

FNBO Evergreen Closed

GrandBaker — Sat, 13 Nov 2021 16:17:14 GMT

I had opened it around April/May, never used it until a month ago when I charged $6K+ for flight tickets. As expected it raised a fraud alert which got resolved. Got an alert from Chase Journey yesterday so called FNBO and had a casual chat with the CSR. She mentioned there's a letter on the way that says a/c was closed due to several new inquiries. Makes sense considering I recently got several inquiries for refi on a rental AND a new house purchase. Good news is they are honoring the 0% promo APR and are allowing me to pay it over time.

I've been playing the CC game for 22+ years, currently at a 800+ FICO with under 10% in utilization. Never had an issuer close a card on me so it definitely threw me off. I'm hoping it won't ding my perfect "No derogatory reports" section of the credit report.

If anyone can see what I'd done wrong and advice I would appreciate it.

Thanks!

Re: FNBO Evergreen Closed

SouthJamaica — Sat, 13 Nov 2021 16:29:15 GMT

@GrandBaker wrote:
I had opened it around April/May, never used it until a month ago when I charged $6K+ for flight tickets. As expected it raised a fraud alert which got resolved. Got an alert from Chase Journey yesterday so called FNBO and had a casual chat with the CSR. She mentioned there's a letter on the way that says a/c was closed due to several new inquiries. Makes sense considering I recently got several inquiries for refi on a rental AND a new house purchase. Good news is they are honoring the 0% promo APR and are allowing me to pay it over time.

I've been playing the CC game for 22+ years, currently at a 800+ FICO with under 10% in utilization. Never had an issuer close a card on me so it definitely threw me off. I'm hoping it won't ding my perfect "No derogatory reports" section of the credit report.

If anyone can see what I'd done wrong and advice I would appreciate it.

Thanks!

I don't think you've done anything wrong. I think FNBO did something wrong.

Re: FNBO Evergreen Closed

gdale6 — Sat, 13 Nov 2021 16:49:54 GMT

This is going to become more apparent moving forward, FNBO opened the doors but never changed their conservative ways.... This went bad for many issuers in the past. Sorry they did this to you.

Re: FNBO Evergreen Closed

Remedios — Sat, 13 Nov 2021 16:52:50 GMT

@GrandBaker wrote:
I had opened it around April/May, never used it until a month ago when I charged $6K+ for flight tickets. As expected it raised a fraud alert which got resolved. Got an alert from Chase Journey yesterday so called FNBO and had a casual chat with the CSR. She mentioned there's a letter on the way that says a/c was closed due to several new inquiries. Makes sense considering I recently got several inquiries for refi on a rental AND a new house purchase. Good news is they are honoring the 0% promo APR and are allowing me to pay it over time.

I've been playing the CC game for 22+ years, currently at a 800+ FICO with under 10% in utilization. Never had an issuer close a card on me so it definitely threw me off. I'm hoping it won't ding my perfect "No derogatory reports" section of the credit report.

If anyone can see what I'd done wrong and advice I would appreciate it.

Thanks!

Ouch, sorry about the closure.

Can you quantify "several inquiries" and how many new accounts resulted from those inquiries

If we were to speculate, you got approved, no use on the card for five months followed by a hefty charge that put human eyes on the account.

I am not sure if regular use of the card would have made a difference, but optics of not using card at all, new accounts, followed by large charge would make many lenders twitch.

This really isn't unusual for FNBO when they determine excessive credit seeking is present, but it might be new to many here because prior to Evergreen card they were fairly geofenced, so no myFico stampede.

Unfortunately, I expect to see a lot more of this given all the approvals, sometimes applying for multiple FNBO cards close together, plus "yay app spree".

Re: FNBO Evergreen Closed

4sallypat — Sat, 13 Nov 2021 16:54:52 GMT

Oh wow so sorry to hear.

Here I was going to app for the pre-approved $15K SL but now I am reconsidering it due to the inquiry sensitive practice by FNBO.

At least they are allowing you the 0% terms for the balance.

Does the account closure affect your score as it was initiated by the lender ???

Re: FNBO Evergreen Closed

Remedios — Sat, 13 Nov 2021 17:04:31 GMT

@4sallypat wrote:
Oh wow so sorry to hear.

Here I was going to app for the pre-approved $15K SL but now I am reconsidering it due to the inquiry sensitive practice by FNBO.

At least they are allowing you the 0% terms for the balance.

Does the account closure affect your score as it was initiated by the lender ???

There is no impact from who closed it.

There can be scoring impact if it affects utilization, but none from "closed by credit grantor"

Re: FNBO Evergreen Closed

GrandBaker — Sat, 13 Nov 2021 17:19:00 GMT

@gdale6 wrote:
This is going to become more apparent moving forward, FNBO opened the doors but never changed their conservative ways.... This went bad for many issuers in the past. Sorry they did this to you.

Glad to hear it isn't just me. Thank you.

Re: FNBO Evergreen Closed

GrandBaker — Sat, 13 Nov 2021 17:22:17 GMT

@Remedios wrote:
Ouch, sorry about the closure.
Can you quantify "several inquiries" and how many new accounts resulted from those inquiries

If we were to speculate, you got approved, no use on the card for five months followed by a hefty charge that put human eyes on the account.
I am not sure if regular use of the card would have made a difference, but optics of not using card at all, new accounts, followed by large charge would make many lenders twitch.

This really isn't unusual for FNBO when they determine excessive credit seeking is present, but it might be new to many here because prior to Evergreen card they were fairly geofenced, so no myFico stampede.

Unfortunately, I expect to see a lot more of this given all the approvals, sometimes applying for multiple FNBO cards close together, plus "yay app spree".

Inquiry counts went from roughly 12 to 15. It resulted in one new mortgage account. I also had another refi done which resulted in 3-4 new inquiries and replaced an existing mortgage a/c but that was prior to me applying for this card. HTH!

Re: FNBO Evergreen Closed

GrandBaker — Sat, 13 Nov 2021 17:23:07 GMT

@Remedios wrote:
@4sallypat wrote:
Oh wow so sorry to hear.

Here I was going to app for the pre-approved $15K SL but now I am reconsidering it due to the inquiry sensitive practice by FNBO.

At least they are allowing you the 0% terms for the balance.

Does the account closure affect your score as it was initiated by the lender ???

There is no impact from who closed it.
There can be scoring impact if it affects utilization, but none from "closed by credit grantor"

Very glad to know that impact is minimal to none. Thank you!

Re: FNBO Evergreen Closed

GrandBaker — Sat, 13 Nov 2021 17:25:06 GMT

@4sallypat wrote:
Oh wow so sorry to hear.

Here I was going to app for the pre-approved $15K SL but now I am reconsidering it due to the inquiry sensitive practice by FNBO.

At least they are allowing you the 0% terms for the balance.

Does the account closure affect your score as it was initiated by the lender ???

I had a $15K limit as well. So putting $6K as my first transaction wasn't a great move. AMEX or Chase would've been OK but from what I am reading FNBO is too conservative for it and red flagged me. Hope it works out better for you!

Re: FNBO Evergreen Closed

JL276 — Sat, 13 Nov 2021 17:38:35 GMT

@GrandBaker wrote:
@4sallypat wrote:
Oh wow so sorry to hear.

Here I was going to app for the pre-approved $15K SL but now I am reconsidering it due to the inquiry sensitive practice by FNBO.

At least they are allowing you the 0% terms for the balance.

Does the account closure affect your score as it was initiated by the lender ???

I had a $15K limit as well. So putting $6K as my first transaction wasn't a great move. AMEX or Chase would've been OK but from what I am reading FNBO is too conservative for it and red flagged me. Hope it works out better for you!

I don't think the 6k as your first transaction was the problem as I had a 9k charge as my first transaction with no problem.

Honestly think it was the fact you didn't use the card at all after activation for around 5 months. The bigger charge coupled with non use probably had more to do with it. It raised a flag and they used inquiries as a reason to shut down.

sorry it happened, luckily you still get the 0% promo.

Re: FNBO Evergreen Closed

Trini88 — Sat, 13 Nov 2021 17:41:40 GMT

@JL276 wrote:
@GrandBaker wrote:
@4sallypat wrote:
Oh wow so sorry to hear.

Here I was going to app for the pre-approved $15K SL but now I am reconsidering it due to the inquiry sensitive practice by FNBO.

At least they are allowing you the 0% terms for the balance.

Does the account closure affect your score as it was initiated by the lender ???

I had a $15K limit as well. So putting $6K as my first transaction wasn't a great move. AMEX or Chase would've been OK but from what I am reading FNBO is too conservative for it and red flagged me. Hope it works out better for you!
I don't think the 6k as your first transaction was the problem as I had a 9k charge as my first transaction with no problem.

Honestly think it was the fact you didn't use the card at all after activation for around 5 months. The bigger charge coupled with non use probably had more to do with it. It raised a flag and they used inquiries as a reason to shut down.

sorry it happened, luckily you still get the 0% promo.

I was thinking the same thing. I think the inquiries were an excuse as well.

Re: FNBO Evergreen Closed

NoMoreE46 — Sun, 14 Nov 2021 20:37:09 GMT

This sucks @GrandBaker .

As a MyFicoer, I know better than to freak out a 'new-to-me' lender by making such a large first purchase regardless of the number of recent inquiries...

However, as a typical non MFer

creditcard owner, I would have done the same as you and not have considered any collateral impacts.

I mean:

a) FBNO did give you a certain limit

b) You used that limit for a legit charge.

c) Your profile seems top notch.

So as mentioned, you did nothing wrong as a typical consumer.

But as a MFer, you should have known there should have been more (Mod cut - not here, please @NoMoreE46 -- 5 Things We Don't Talk About) involved so to speak.

Thus as a MFer, I plan to not app for this FOTM card.

Re: FNBO Evergreen Closed

TJHOFF — Sat, 13 Nov 2021 20:16:47 GMT

I applied right after they offered the $200 sub a few weeks ago, online app was "pending", a week later I got a letter requesting a signed copy of my social security card, 2 years of W2's, and a copy of my drivers license. Beyond being a little high on my inquiries, there is nothing in my file to generate their suspicion. In an era of $200 sub's and 2% cards, I'm not gonna turn a copy of my life over to these clowns for a garden variety 2 percenter. Screw FNBO.

Re: FNBO Evergreen Closed

lgtwriter — Mon, 15 Nov 2021 00:51:55 GMT

I am sorry this happened to you @GrandBaker . I applied for this card and received it about a month ago and I am putting smallish daily driver types of charges on it for now. (doordash, online purchases of under $500 or so, etc). I always worry about putting large charges on new cards.

In your case, I don't see anything in your profile that would have caused FNBO to close the card. Many on here have been approved for this card with far more inquiries. I think inquiries were an FNBO auto-excuse.

I think you could succeed at reconsideration if you talked to someone at FNBO. (higher than a customer service rep). It's just a matter of whether you want to bother.

Re: FNBO Evergreen Closed

NoMoreE46 — Mon, 15 Nov 2021 00:37:45 GMT

@NoMoreE46 wrote:
This sucks @GrandBaker .

As a MyFicoer, I know better than to freak out a 'new-to-me' lender by making such a large first purchase regardless of the number of recent inquiries...

However, as a typical non MFer
creditcard owner, I would have done the same as you and not have considered any collateral impacts.
I mean:
a) FBNO did give you a certain limit
b) You used that limit for a legit charge.
c) Your profile seems top notch.

So as mentioned, you did nothing wrong as a typical consumer.
But as a MFer, you should have known there should have been more (Mod cut - not here, please @NoMoreE46 -- 5 Things We Don't Talk About) involved so to speak.

Thus as a MFer, I plan to not app for this FOTM card.

Sorry, still learning after two years here.

Re: FNBO Evergreen Closed

FinStar — Mon, 15 Nov 2021 01:03:37 GMT

@lgtwriter wrote:
I am sorry this happened to you @GrandBaker . I applied for this card and received it about a month ago and I am putting smallish daily driver types of charges on it for now. (doordash, online purchases of under $500 or so, etc). I always worry about putting large charges on new cards.

In your case, I don't see anything in your profile that would have caused FNBO to close the card. Many on here have been approved for this card with far more inquiries. I think inquiries were an FNBO auto-excuse.

I think you could succeed at reconsideration if you talked to someone at FNBO. (higher than a customer service rep). It's just a matter of whether you want to bother.

@lgtwriter

Typically, when FNBO closes an account due to AA, there's no reconsideration option. Plenty of threads on not yielding fruitful results. We, of course, are not privy to the full [AI] data that FNBO reviewed for algorithms to have assessed the potential risk. We're only aware of limited data that the OP has voluntarily shared. So, there's likely more to the inquiries that may have caused the AA instance. Only FNBO knows.

Re: FNBO Evergreen Closed

lgtwriter — Mon, 15 Nov 2021 01:08:36 GMT

@FinStar thanks for the info I have never asked for reconsideration personally so I probably shouldn't be talking about it lol.

Re: FNBO Evergreen Closed

FinStar — Mon, 15 Nov 2021 01:18:28 GMT

@lgtwriter wrote:
@FinStar thanks for the info I have never asked for reconsideration personally so I probably shouldn't be talking about it lol.

No worries @lgtwriter 👍

There are situations where it can be successful depending on the lender, the stipulations that led to a CLD (or closure), a bank's error, relationship history, etc. That said, yes it it is an unfortunate and unpleasant set of events when AA happens.

But, on the upside, FNBO is not blacklisting the OP. It's possible they can obtain this same card in the future if conditions are more favorable profile-wise, just not right now.

Re: FNBO Evergreen Closed

SUPERSQUID — Mon, 15 Nov 2021 05:57:08 GMT

Wow, they closed the card for 3 inq's ? thats one cap 1 app, crazy.

the way i see it good riddance to bad rubbish. you are better off not dealing with a squeemish lender like that.