topic Re: FNBO AA. in Credit Cards

FNBO AA.

mrtech3 — Sun, 16 Jan 2022 13:56:50 GMT

In the last 3 mos I was approved for a few new cards including an Evergreen from FNBO with an SL of 14k...I just got an alert that they closed my other FNBO platinum card that I have had for 9yrs...I called for the reason...I was told too many inquiries on my report.....the same inquiries that were there when they gave me the Evergreen....I know it's a risk based decision but this is why I will never ever ever ever close my CU cards because I have never experienced AA from one of them like NFCU...I have been with them for 14yrs with zero issues.....

Re: FNBO AA.

AverageJoesCredit — Sun, 16 Jan 2022 14:17:37 GMT

@mrtech3 wrote:
In the last 3 mos I was approved for a few new cards including an Evergreen from FNBO with an SL of 14k...I just got an alert that they closed my other FNBO platinum card that I have had for 9yrs...I called for the reason...I was told too many inquiries on my report.....the same inquiries that were there when they gave me the Evergreen....I know it's a risk based decision but this is why I will never ever ever ever close my CU cards because I have never experienced AA from one of them like NFCU...I have been with them for 14yrs with zero issues.....

What a bummer they close your 9 yo card but not the new one. CU cards are great and i agree Navy is the best, so far as we dont burn them lol.

Re: FNBO AA.

mrtech3 — Sun, 16 Jan 2022 14:23:15 GMT

I agree...banks can be so quirky....The only CU I have ever had pull AA was JFCU but that one has always been that way since they acquired a few 100 new members back in the creditboard days....lol......I have been with NFCU, CCCU, and First Tech formerly Addison Ave for YEARS and not one of them have touched my cards other than to raise limits or lower apr.....CUs ftw!!!!

Re: FNBO AA.

Anonymous — Sun, 16 Jan 2022 14:52:01 GMT

FNBO is one of a kind. I know of no other bank that pulls what they do. No need to put other banks in the same catagory as them. Nothing surprises me when it comes to FNBO

Thanks

Mark

Re: FNBO AA.

Jnbmom — Sun, 16 Jan 2022 14:54:38 GMT

Yes I had the platinum card excellent history with them tried their prequalify for the evergreen denied then week later they closed my platinum.

Re: FNBO AA.

coldfusion — Sun, 16 Jan 2022 15:13:36 GMT

Just to throw out a contrarian example, US Alliance FCU evaluates card usage when the refresh time of an existing card approaches and closes inactive accounts on the expiry date of the current card (they do give prior notice of the account closing) without sending out a replacement.

Re: FNBO AA.

mrtech3 — Sun, 16 Jan 2022 15:14:20 GMT

The reason I used BANKS in plural is through all of my years of having credit every time I have had an AA on an account it has always been at a bank...Citi and Discover both done it to me a few years ago now FNBO's quirky a%&....Of course your experience may vary.....

Re: FNBO AA.

CreditCrusader — Sun, 16 Jan 2022 16:58:24 GMT

@mrtech3 wrote:
I agree...banks can be so quirky....The only CU I have ever had pull AA was JFCU but that one has always been that way since they acquired a few 100 new members back in the creditboard days....lol......I have been with NFCU, CCCU, and First Tech formerly Addison Ave for YEARS and not one of them have touched my cards other than to raise limits or lower apr.....CUs ftw!!!!

Synchrony is my absolute favorite relative to the quirky.

DW has been denied CLI on her CareCredit card in spite of heavy usage and payoff (NO reported balances).

And yet, they approved her for their HOME card with a $3,000 starting limit...???

No doubt, there are retailer considerations in play. For reasons unknown, the Synchrony Lowes card can be fairly difficult to obtain in spite of the fact that so many people shop there for so many things. And yet, the Car Care card is absurdly easy to obtain with good SLs.

The credit game...so like playing chess with Magnus Carlsen sometimes LOL

Re: FNBO AA.

increasingmyfico — Sun, 16 Jan 2022 17:29:51 GMT

@mrtech3 wrote:
In the last 3 mos I was approved for a few new cards including an Evergreen from FNBO with an SL of 14k...I just got an alert that they closed my other FNBO platinum card that I have had for 9yrs...I called for the reason...I was told too many inquiries on my report.....the same inquiries that were there when they gave me the Evergreen....I know it's a risk based decision but this is why I will never ever ever ever close my CU cards because I have never experienced AA from one of them like NFCU...I have been with them for 14yrs with zero issues.....

This is what concerns me.I just got the Evergreen in Dec. I wonder what is too many inquiries. I wonder if they watch new accounts. I wonder for how long.

Re: FNBO AA.

SouthJamaica — Sun, 16 Jan 2022 18:33:29 GMT

@mrtech3 wrote:
In the last 3 mos I was approved for a few new cards including an Evergreen from FNBO with an SL of 14k...I just got an alert that they closed my other FNBO platinum card that I have had for 9yrs...I called for the reason...I was told too many inquiries on my report.....the same inquiries that were there when they gave me the Evergreen....I know it's a risk based decision but this is why I will never ever ever ever close my CU cards because I have never experienced AA from one of them like NFCU...I have been with them for 14yrs with zero issues.....

Agreed. I've had adverse action from 3 different banks, and have never had it from a credit union.

And none of the 3 banks even gave me a coherent explanation for why they were doing it.

Re: FNBO AA.

gdale6 — Sun, 16 Jan 2022 18:38:44 GMT

FNBO uses Sagestream during the approval process, this is where they can get ALL the inquires you have made not just the ones on the CRA they pull.

Re: FNBO AA.

Trini88 — Sun, 16 Jan 2022 18:50:00 GMT

Terrible! I heard they were like that but I would have rather them shut the new one down smh.

Re: FNBO AA.

mrtech3 — Sun, 16 Jan 2022 18:51:17 GMT

@gdale6 wrote:
FNBO uses Sagestream during the approval process, this is where they can get ALL the inquires you have made not just the ones on the CRA they pull.

Did not know this....good info

Re: FNBO AA.

Kforce — Sun, 16 Jan 2022 18:53:29 GMT

@mrtech3 wrote:
In the last 3 mos I was approved for a few new cards including an Evergreen from FNBO with an SL of 14k...I just got an alert that they closed my other FNBO platinum card that I have had for 9yrs...I called for the reason...I was told too many inquiries on my report.....the same inquiries that were there when they gave me the Evergreen....I know it's a risk based decision but this is why I will never ever ever ever close my CU cards because I have never experienced AA from one of them like NFCU...I have been with them for 14yrs with zero issues.....

Sorry this happened.

If we had a better picture of how many inquiries & cards it might help others. A few new cards can be 3 inquiries or 8-9. What happened a few months earlier also counts Four new cards and a personal loan 4 months earlier would also count. I like to see numbers to get a clear picture of how conservative an issuer is. It will help others stay clear of AA, and maybe give some insight about FNBO. How many inquiries and cards over last 3, 6, 12, 24 months?

Re: FNBO AA.

Anonymous — Sun, 16 Jan 2022 19:18:27 GMT

@coldfusion wrote:
Just to throw out a contrarian example, US Alliance FCU evaluates card usage when the refresh time of an existing card approaches and closes inactive accounts on the expiry date of the current card (they do give prior notice of the account closing) without sending out a replacement.

Penfed closed one of my cards for inactivity without any prior notice, but I guess closure for inactivity is the weakest kind of AA!

Re: FNBO AA.

Yasselife — Sun, 16 Jan 2022 20:30:07 GMT

@Anonymous How long was the penfed card inactive?

Re: FNBO AA.

CreditMagic7 — Sun, 16 Jan 2022 21:16:13 GMT

That's a blow to morale alright but mainstream banks operate on a totally different criteria than credit unions. I don't single out FNBO per say as a mainstream but they certainly are trying. Which might also ramp up their policy toward RISK more so.

The common question is why approve in the first place, then issue a card only to retract so soon. And especially cite INQUIRIES. Which brings into question 2 opposing viewpoints on that metric. FICO might give less priority to INQ's but mainstream banks ALWAYS zero in on that criteria among their other weights of measure.

Sorry you discovered a harsh direct AA from them but seems by policy that they utilize a builders level bubble that when leaned to a set direction (in your case INQ's) raises proactive action from them.

If its any consolation i would CALL THEM AGAIN as a final resort and at least make an effort to see if reinstatement can still be an option. That is if they are even willing.

Re: FNBO AA.

Anonymous — Sun, 16 Jan 2022 21:41:47 GMT

@gdale6 wrote:
FNBO uses Sagestream during the approval process, this is where they can get ALL the inquires you have made not just the ones on the CRA they pull.

Now that makes sense. I was pre approved for the Evergreen card for $15,000. And when I then hit submit DENIED. I was like WTH? lol It was a rare decline for me.

I have my profile blocked (turned off) at Sagestream so at the final HP they could not pull my info there. I always wondered how that happened.

Thank you so much for posting this

Mark

Re: FNBO AA.

CreditMagic7 — Sun, 16 Jan 2022 21:50:02 GMT

@Anonymous wrote:
@gdale6 wrote:
FNBO uses Sagestream during the approval process, this is where they can get ALL the inquires you have made not just the ones on the CRA they pull.
Now that makes sense. I was pre approved for the Evergreen card for $15,000. And when I then hit submit DENIED. I was like WTH? lol It was a rare decline for me.
I have my profile blocked (turned off) at Sagestream so at the final HP they could not pull my info there. I always wondered how that happened.
Thank you so much for posting this
Mark

Thanks @Anonymous for bringing that up. I hold Comenity Cards and they absolutely are tethered with Sagestream. I unfroze until 2022 so now im going to have to unfreeze it again. Makes a HUGE difference.

Re: FNBO AA.

Anonymous — Sun, 16 Jan 2022 23:01:54 GMT

@Yasselife wrote:

@longtimelurker How long was the penfed card inactive?

Long! Maybe 2+ years so not a great surprise