topic Re: FNBO CLD in Credit Cards

FNBO CLD Master Thread

Doodlebug30 — Sat, 22 Oct 2022 17:32:07 GMT

So I call up FNBO bc I hit the 4 months mark and wanted to try for a CLI. They said no bc my account was just CLD. HUH?? I have never had a cld on any account ever and I have no missed payments or late payments on their acct or any other. No changes to my credit which sit around 765 and I'm seriously baffled. I opened the card 10 months ago. I'm carrying a 0% balance of about 3k of 16,500 limit. They slashed my limit to 3150. So balance chased? But why?? So, paid off that card and I'm closing it today. I am pretty mad bc they did this right at statement cut and now it shows I have a card at 95% utilization. Should I let one more statement generate (with a zero balance) or just close it now? I really want to close it now but I want what's best for my fico ... Thanks.

Re: FNBO CLD

SouthJamaica — Fri, 16 Sep 2022 11:15:29 GMT

@Doodlebug30 wrote:
So I call up FNBO bc I hit the 4 months mark and wanted to try for a CLI. They said no bc my account was just CLD. HUH?? I have never had a cld on any account ever and I have no missed payments or late payments on their acct or any other. No changes to my credit which sit around 765 and I'm seriously baffled. I opened the card 10 months ago. I'm carrying a 0% balance of about 3k of 16,500 limit. They slashed my limit to 3150. So balance chased? But why?? So, paid off that card and I'm closing it today. I am pretty mad bc they did this right at statement cut and now it shows I have a card at 95% utilization. Should I let one more statement generate (with a zero balance) or just close it now? I really want to close it now but I want what's best for my fico ... Thanks.

Since it's got zero balance you can close it. The zero balance will be reported.

Re: FNBO CLD

M_Smart007 — Fri, 16 Sep 2022 11:43:27 GMT

Doodlebug300, Sorry for your CLD,

Definitely would NOT close it with a balance!

You also might pull your reports from https:/www.annualcreditreport.com/index.action

Go over them with a fine tooth comb,

see if something popped up on your report that would trigger FNBO to CLD you.

Something is just not right.??!!

Re: FNBO CLD

M_Smart007 — Fri, 16 Sep 2022 11:19:32 GMT

@SouthJamaica, I know it is early, you may want to re-read OP's post.?

"I'm carrying a 0% balance of about 3k of 16,500 limit. They slashed my limit to 3150"

Re: FNBO CLD

Jnbmom — Fri, 16 Sep 2022 11:20:27 GMT

@Doodlebug30

Sorry about the CLD. A while back they just closed my account outright. I had no major changes whatsoever. I can't remember the reason they gave I think inquires but I really didn't have many more then when I had opened their account .

Re: FNBO CLD

Doodlebug30 — Fri, 16 Sep 2022 12:18:29 GMT

@M_Smart007 , Can I see all that stuff when I pull my reports from Experian and credit karma? My scores haven't changed either. WEIRD. I paid off the balance on FNBO and it finally shows a zero balance in my account today so should I just close it? Or wait until the next statement cut?

Re: FNBO CLD

M_Smart007 — Fri, 16 Sep 2022 12:46:04 GMT

@Doodlebug30 wrote:
@M_Smart007 , Can I see all that stuff when I pull my reports from Experian and credit karma? My scores haven't changed either. WEIRD. I paid off the balance on FNBO and it finally shows a zero balance in my account today so should I just close it? Or wait until the next statement cut?

@Doodlebug30,

It is best to pull www.annualcreditreport.com ..the reason being you can see ALL three reports with clarity,

Experian would probably show accuracy, but I would not trust credit karma for accuracy!

Also you will get very detailed info, that you would NOT otherwise get.

It is a good idea to check all three reports, as to make sure everything is in order.

Something that I have done, and will continue to do.

I know the knee-jerk reaction is to close the card, and that is certainly your choice,

I did it with a Target store card, when they CLD'd the limit from $700(ish) to $500. for 7 months of NON-Use.

But it was only a store card, and I had no intention on using it. So I closed it.

It was by far my lowest limit card.

You may reconsider keeping it open, as it is a major CC, and the limit is not $500 ...but it is entirely up to you.

I try to really think things through with credit, as once it is done ..it is done! ..no going back.

ETA:

Also what is your EX FICO9 score from FNBO's site?

Example;

Your FICO® Bankcard Score 9 , pulled on 09/10/2022 from Experian, is the same score we use to manage your account.

Re: FNBO CLD

Doodlebug30 — Fri, 16 Sep 2022 12:52:52 GMT

@M_Smart007 , it's showing 756. I will pull annualcreditreport. But I keep a close eye thru Experian 3 report option and I have no outstanding bills at risk of collection or anything so I just don't get it. Also, I do have a lot of other cards I can use. I just opened a wells Fargo active cash (hasn't reported yet!) So it's also a 2% card. I'm just worried FNBO will close my account on me. I'd rather me close it right? 🤷🏻‍♀️ Bummer but I do have plenty of credit to pick from so...

Re: FNBO CLD

M_Smart007 — Fri, 16 Sep 2022 13:06:33 GMT

@Doodlebug30 wrote:
@M_Smart007 , it's showing 756. I will pull annualcreditreport. But I keep a close eye thru Experian 3 report option and I have no outstanding bills at risk of collection or anything so I just don't get it. Also, I do have a lot of other cards I can use. I just opened a wells Fargo active cash (hasn't reported yet!) So it's also a 2% card. I'm just worried FNBO will close my account on me. I'd rather me close it right? 🤷🏻‍♀️ Bummer but I do have plenty of credit to pick from so...

Got it.

One further note, FNBO can be sensitive to new inquiries (profile dependant)

So they will mitigate risk, if you are seeking new credit, escalating debt or have a lot of recent inquiries. (again, profile dependant)

ETA: If FNBO wanted to close it, they would have already. It does not really matter in the notation part of a closed account, whether it states "Account closed at credit grantor’s request " or "Account closed at consumer’s request " it is all personal preference.

I have many Synchrony accts. that show "Account closed at credit grantor’s request " it does NOT affect my ability to get approvals.

Good Luck!

Re: FNBO CLD

Doodlebug30 — Fri, 16 Sep 2022 13:34:28 GMT

Thats good to know! I always thought it would look bad on me if THEY closed it instead of me...Idk what Im gonna do. I will prob still close it but idk. Does it matter that its under a year old account? 10 months old...

Re: FNBO CLD

CreditCuriosity — Fri, 16 Sep 2022 13:46:18 GMT

Strange have alot of inquiries like 10-20 on each bureau and increasing balances just not on FNBO card? Never personally had an issue with them, but each profile is different and that wasn't an extreme balance by any means on that card as they send me BT check literally weekly. Have used like two of their BTs in the past for a few k on a 20-25k cl depending when so they don't mind BT's, but if other things are off such as rising balance, inquires, a ton of new accounts then this might of caused it, but no two profiles are same. FNBO makes some news about closes and balance chasing, but not compared to alot of other lenders mentioned on this forum.

Re: FNBO CLD

M_Smart007 — Fri, 16 Sep 2022 14:41:58 GMT

@Doodlebug30 wrote:
Thats good to know! I always thought it would look bad on me if THEY closed it instead of me...Idk what Im gonna do. I will prob still close it but idk. Does it matter that its under a year old account? 10 months old...

@Doodlebug30,

It does not matter to FICO scoring if you close it.

You may think on it a while, possibly sock drawer it.

What CL is left, can help with aggregate utilization.

Also, down the road, you might be able to get soft pull increases on it. (as long as your profile support's it)

If it were me, I would keep it open (even if you SD it) ..

But that is JMO, and my opinion ..does not always fit everyone else.

Re: FNBO CLD

gdale6 — Fri, 16 Sep 2022 14:46:48 GMT

FNBO is not really known for this kind of activity unless there is a major change in ones credit picture. I have carried 0% BTs and special low rate BTs for years on their cards and never once have I had a CLD. I suggest as others that you check your CRs and also check Lexis Nexis and Sagestream

Re: FNBO CLD

CYBERSAM — Fri, 16 Sep 2022 17:25:09 GMT

@Doodlebug30 Sorry to hear about CLD on your new card. As many have said this is unusual for FNBO!

I would recommend calling them again and escalate to a supervisor for more detail reasoning! They are good at providing info, also can override many automated issues unlike other banks.

The only issue I ever have with them is when changing payment methods! Somehow that takes them more then 30 days to take effect and they charge me late fee internally! This happened 3 times already, I had to call and fix it over the years.

Be more persistence to get the reason as why they CLD you.

Re: FNBO CLD

BearsCubsOtters — Fri, 16 Sep 2022 22:16:57 GMT

I am not sure if we are allowed to post reddit links; but there was someone on 9/13/2022 who posted to r/CreditCards that his Evergreen was CLD from $15,000 down to $500 after 6 months.

I do not think he ever updated the thread with an official letter from FNBO; however, he claimed that he spoke to them over the phone and was told that the CLD was due to AZEO. Because his account never cycled with a balance, they felt his credit line was too high (?).

Who knows for sure, but yours and his are the only ones I have heard of so far. As others have said, I would request your free credit reports to see if anything has changed.

Re: FNBO CLD

Anonymous — Fri, 16 Sep 2022 22:21:41 GMT

@M_Smart007 wrote:
@SouthJamaica, I know it is early, you may want to re-read OP's post.?

"I'm carrying a 0% balance of about 3k of 16,500 limit. They slashed my limit to 3150"

OP also says:

So, paid off that card and I'm closing it today

Re: FNBO CLD

M_Smart007 — Fri, 16 Sep 2022 23:00:08 GMT

@Anonymous wrote:
@M_Smart007 wrote:
@SouthJamaica, I know it is early, you may want to re-read OP's post.?

"I'm carrying a 0% balance of about 3k of 16,500 limit. They slashed my limit to 3150"

OP also says:

So, paid off that card and I'm closing it today

They posted that after the fact.

Re: FNBO CLD

difringe — Sat, 17 Sep 2022 01:02:24 GMT

@Doodlebug30 wrote:
So I call up FNBO bc I hit the 4 months mark and wanted to try for a CLI. They said no bc my account was just CLD. HUH?? I have never had a cld on any account ever and I have no missed payments or late payments on their acct or any other. No changes to my credit which sit around 765 and I'm seriously baffled. I opened the card 10 months ago. I'm carrying a 0% balance of about 3k of 16,500 limit. They slashed my limit to 3150. So balance chased? But why?? So, paid off that card and I'm closing it today. I am pretty mad bc they did this right at statement cut and now it shows I have a card at 95% utilization. Should I let one more statement generate (with a zero balance) or just close it now? I really want to close it now but I want what's best for my fico ... Thanks.

Btw, similar thing happened to me today. I got the FNBO Evergreen card back in Dec 2021, had an increase some time this year to $16,500. I paid off the initial balance transfer (and purchases) that I made on the card (I had like $9k on it because of the 0%), but since purchases are 0% for a year, I put $2k on this card over the past couple of months. Statement cut yesterday with the $2k on the card and showing the limit of $16,500, but today I got an Experian alert that the card was CLD to $2400. Similar to OP, I'm just going to pay it off next month and not use the card again, that's no way to keep a customer IMO.

FICO scores have remained in the same range (720s) as has my total overall balance (around 20% utilization). I have no card reporting as over 88% usage except this card (if they report with the new limit). Been in the garden since December 2021, so no new inquiries or accounts. Very strange behavior.

Edit: If you check their reviews on WalletHub, there are plenty of people reporting similar behavior, so I guess this is just how FNBO rolls. Will keep that in mind if in the future they have another FOTM card.

Re: FNBO CLD

mgood — Sat, 17 Sep 2022 01:34:37 GMT

@difringewrote:
. . . limit of $16,500 . . . CLD to $2400. . . .

. . . Been in the garden since December 2021, so no new inquiries or accounts. Very strange behavior. . . .

That is interesting. I've been under the impression that people getting these drastic CLDs were those who'd had too many inquiries shortly after opening the card. I was warned that FNBO is sensitive to that. But obviously not the issue in your case

Re: FNBO CLD

difringe — Sat, 17 Sep 2022 01:55:47 GMT

Yea, that's partially why I shared. Better to have more information than to go off presumptions. This was a FOTM card on here, I'm curious how others' interactions have gone, we should have plenty of DPs here.

topic Re: FNBO CLD in Credit Cards

FNBO CLD ****Master Thread****

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FNBO CLD Master Thread