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BB&T Pre-approval > Approved > Closed?!

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Valued Member

BB&T Pre-approval > Approved > Closed?!

Absolutely livid right now and curious if anyone else has had this happen. I accepted a BB&T pre-approval offer on 6/19 and was approved with an 8K SL. On 6/26 I got an email saying the card was in the mail. Got the card today and called to activate it (automated system, said it was successful). Went to set up online banking and got an error saying that the account was locked due to too many attempts. Weird, since I just got it, but okay, called customer service. First rep said maybe the account was too new and they hadn't finished setting it up yet, so transferred me to card services. Second rep was not so nice, and said the account had been closed by risk on 6/22 (before they even mailed it!). **bleep**?! She wouldn't give me any more information and said I had to wait for a letter to be mailed out.

 

I can think of a few possible reasons for the closure:

- Pre-approval might have been based on my EQ report which is my best and basically spotless because it's somehow missing my BK (DCd in 2015). The card had already started reporting on all 3 reports, so maybe an AR pull of the others revealed the BK and that's why? This hasn't been an issue with ANY other bank though, so dunno.

- I have over 75k available on about 60k income, so maybe that's just too much for them? 

 

Otherwise, I'm not sure. I did burn a few places in the BK but not BB&T. Any thoughts?

BK7 discharged: 10/25/15 | Current scores: 755 EQ 678 TU 673 EX
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Message 1 of 15
14 REPLIES 14
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Valued Contributor

Re: BB&T Pre-approval > Approved > Closed?!

Wow, that stinks.  Smiley Sad  Sorry for the wasted pulls and bad experience with BB&T.  To approve you and then cancel afterward is very annoying, at the least.   Unfortunately, many banks have become much more skittish these days.  There have been numerous reports of banks tightening up lending and underwriting standards.  I got turned down by AMEX in May with a prequalification offer for a new card, high FICO, high income, low debt, previous AMEX customer due to simply exceeding their tolerances for new accounts in past 12 months.  And it was at a level other members reported they had exceeded with AMEX in the past and been approved for new credit.  Times have certainly changed. 

 

That all said, I note that the lack of BK on your EQ has that FICO score substantially higher.  So maybe they did learn about it afterward in AR.  The other considerations I would imagine would be either credit-available-relative-to-income (as you suggested) or else debt-to-income, which in the current economic times is probably carrying much more weight due to elevated risk of default. 



Updated 07/03/2020
Total Length of Credit = 35+ years; AoOA (Currently open accounts) = 27+ years;
AAoA = 8+ years; AoYA = less than 1 year (July 2020)
Total Open Credit Lines Over $510K. Utilization Less Than 1%. Inquiries until Nov 2020 (TU:2 -- EQ:4 -- EX:7)
*Hover cursor over each card to see name & CL, or press & hold on mobile app.
Message 2 of 15
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Valued Member

Re: BB&T Pre-approval > Approved > Closed?!

Further adding to the confusion, I received the denial letter in the mail today. It says the account was closed due to "delinquent credit obligations" and that their decision was based on info from Equifax. Uh, what? My Equifax, as I said, is spotless. On top of that, even on TU and EX, aside from the old stuff IIB and the BK itself, I have no delinquent accounts (and they didn't say they got info from those anyway). The letter also included a second page that says, "We have told a credit bureau about a late payment, missed payment, or other default on your account." WHAT?! I literally JUST opened this account. WHAT. 

 

I have a meeting shortly but definitely going to call again and complain. This is ridiculous.

BK7 discharged: 10/25/15 | Current scores: 755 EQ 678 TU 673 EX
NFCU Flagship VisaPenFed Promise VisaDCU Platinum VisaDiscover IT Cash Back CardUSAA Cash Rewards AmexBarclays Apple Rewards VisaNFCU Cloc
Message 3 of 15
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Valued Contributor

Re: BB&T Pre-approval > Approved > Closed?!


@astronemma wrote:

Further adding to the confusion, I received the denial letter in the mail today. It says the account was closed due to "delinquent credit obligations" and that their decision was based on info from Equifax. Uh, what? My Equifax, as I said, is spotless. On top of that, even on TU and EX, aside from the old stuff IIB and the BK itself, I have no delinquent accounts (and they didn't say they got info from those anyway). The letter also included a second page that says, "We have told a credit bureau about a late payment, missed payment, or other default on your account." WHAT?! I literally JUST opened this account. WHAT. 

I have a meeting shortly but definitely going to call again and complain. This is ridiculous.


That is quite puzzling.  There's either a lot more than meets the eye or some serious administrative errors on their end.  I wonder if the second page was included in error and meant for another account?  Or are you sure they pulled the correct credit report??  Another My Fico member complained recently about them "fat-fingering" data entry and I think it was also related to SSN.  Defiinitely call and complain, or at least get more information.  Let us know what you find out. 



Updated 07/03/2020
Total Length of Credit = 35+ years; AoOA (Currently open accounts) = 27+ years;
AAoA = 8+ years; AoYA = less than 1 year (July 2020)
Total Open Credit Lines Over $510K. Utilization Less Than 1%. Inquiries until Nov 2020 (TU:2 -- EQ:4 -- EX:7)
*Hover cursor over each card to see name & CL, or press & hold on mobile app.
Message 4 of 15
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Regular Contributor

Re: BB&T Pre-approval > Approved > Closed?!

You said BB&T was not in your BK, but was Suntrust (or anything related to Suntrust) included in the bk? They recently merged so it isn't out of the realm of possibility that there was a cross check done with Suntrust at some point.


@astronemma wrote: 

 

Otherwise, I'm not sure. I did burn a few places in the BK but not BB&T. Any thoughts?


 

Message 5 of 15
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Senior Contributor

Re: BB&T Pre-approval > Approved > Closed?!

If you can go in branch I'd do it.  Nothing to lose.  Some peeps have had to do this with some weird discrepancies.  I'd try that if you can.  It could be a glitch but it could be something that would warn all of us too.  Since they finalized the merge this month it could be they are being super twitchy and the uw is a new bird.  I no longer get preapprovals...that's being a new development for me. Idk, good luck!


"MY TAKE HOME PAY WON'T TAKE ME HOME"
Current Scores: Exp 736/Eq 744/ Tu 756




Message 6 of 15
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Valued Member

Re: BB&T Pre-approval > Approved > Closed?!


@vic6string wrote:

You said BB&T was not in your BK, but was Suntrust (or anything related to Suntrust) included in the bk? They recently merged so it isn't out of the realm of possibility that there was a cross check done with Suntrust at some point.


@astronemma wrote: 

 

Otherwise, I'm not sure. I did burn a few places in the BK but not BB&T. Any thoughts?


 


No, not that I'm aware of. I tried doing some searching to see if they were connected to any of the banks I included but didn't see any. 

BK7 discharged: 10/25/15 | Current scores: 755 EQ 678 TU 673 EX
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Message 7 of 15
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Valued Member

Re: BB&T Pre-approval > Approved > Closed?!


@Aim_High wrote:


That is quite puzzling.  There's either a lot more than meets the eye or some serious administrative errors on their end.  I wonder if the second page was included in error and meant for another account?  Or are you sure they pulled the correct credit report??  Another My Fico member complained recently about them "fat-fingering" data entry and I think it was also related to SSN.  Defiinitely call and complain, or at least get more information.  Let us know what you find out. 


Haven't had a chance to call yet so hopefully will have time tomorrow. The second page definitely had my info on it, and it is reporting to my credit report so they must have my SSN right, at least for part of it.  

BK7 discharged: 10/25/15 | Current scores: 755 EQ 678 TU 673 EX
NFCU Flagship VisaPenFed Promise VisaDCU Platinum VisaDiscover IT Cash Back CardUSAA Cash Rewards AmexBarclays Apple Rewards VisaNFCU Cloc
Message 8 of 15
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Valued Member

Re: BB&T Pre-approval > Approved > Closed?!

Guess they don't close until 8pm so was able to call. Got a different lady, but she said she had no more information for me (as in she couldn't access it) and that I have to send a letter to their risk department to get info on the adverse action. I don't even know if it's worth it at this point. I literally only applied because it was preapproved, and it's not like finding out is going to make me want to bank with them in the future. I think I'll wait a bit and see if anything weird pops up on my credit report. 

 

I guess the only other thing I can think of here is that both times they asked if there was a co-owner on the account and I said no. I don't know if that's standard to ask or if maybe it's possible there was an identity theft thing going on at some point in the past and they closed an account with my SSN that I didn't open. I did have some issues a long time ago that have since been resolved but the only account I can recall that was opened was a Walmart card one. 

BK7 discharged: 10/25/15 | Current scores: 755 EQ 678 TU 673 EX
NFCU Flagship VisaPenFed Promise VisaDCU Platinum VisaDiscover IT Cash Back CardUSAA Cash Rewards AmexBarclays Apple Rewards VisaNFCU Cloc
Message 9 of 15
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Established Contributor

Re: BB&T Pre-approval > Approved > Closed?!

I would follow up.  Be sure there's nothing wonky going on with your reports.  You may not care about this card, but you'll probably care about the next.









Message 10 of 15
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