FNBO pre-approval

[TigerRed]

Hello all, I just got an offer for my first unsecured major cc. I have been working on my credit for just a little while now. I knew my score was too low to get a cc from a bank other than a sub prime bank so I got a secured cc through SDFCU for $1k (6.99%)in Aug or Sept of this year. I never let this cc report higher than 9 %. About a month later I used the shopping cart trick to get 3 store cards. I didn't want any inquiries especially because there was a big chance I would get denied. I keep very little activity on the store cards because I do want them to report every month ($5 - $12). I received a pre-approval letter from FNBO, no AF and at about 19.99%(which is high). Should I take this offer? I heard that they are generous with CL. If I take this offer what is the probability that they would allow me to change to a better credit product with a better rate down the road? Do they allow this? I know this will be a hard pull. If I get this one, that will be it for me. I don't want any more hard pulls and this will be my first one if I go for it. What do you think?

[Anonymous]

From my own experience with FNBO , they are a great bank to do business with !  From some of the other threads I've read, their pre-approvals are rock-solid.  The have a program called "To Your Credit" and they send you all the info after you've been a cardholder for a while.  Very easy way to increase your CL.... just pay your bill on time every month and you qualify for up to 3x credit limit increases in your first year.  Great way to get your credit back on track with a great bank.  And to top it all off, you get a FREE FICO score that you can check every time you login to your account !  I could not be more pleased with a bank.  Go for it !

PS: PLEASE READ  After posting this I read on another thread just today that someone indeed DID get denied after the original pre-approval....  my sincere apologies if I've misinformed anyone.  So I guess anyone who does get a pre-approval might want to proceed with caution.

[TigerRed]

Well thanks. That program sounds great. Not sure what to do......I will have to give it some more thought and re-read all the post here about the FNBO bank. I read about FNB some months ago....I will re-read.

[TigerRed]

I just got done applying online and it says I was approved! Not sure what the CL will be. It says I should get my new cc in 7-10. I am happy, my first unsec bank card. And I like it because they tend to be generous with CL & CLI's.

[Anonymous]

---

@TigerRed wrote:
I just got done applying online and it says I was approved! Not sure what the CL will be. It says I should get my new cc in 7-10. I am happy, my first unsec bank card. And I like it because they tend to be generous with CL & CLI's.

---

Congrats! I live outside their marketing area and they sent me a pre-approved application for a Visa. The following year they sent a second app for a Discover (both card are different today). Asked to convert to an FNBO Amex and they informed me that I could not do a product change or app since I am outside their bank service area. There preapproveds are generally good. I did receive one for the FNBO Amex and they denied it.

[TigerRed]

And you're monthly free fico score is also great!

[TigerRed]

@ ArmyVietVet, what was the reason given for the denial for the FNBO Amex? I want one of those.

[TigerRed]

Nevermind looks like I am also outside of the area for fnbo amex. I am in Ohio.

[Anonymous]

---

@TigerRed wrote:
@ ArmyVietVet, what was the reason given for the denial for the FNBO Amex? I want one of those.

---

Since I had just received the preapproval for the VIsa (Bucks Back Visa 1% everything) they said they could not "establish a new account for the same or similar product type". They were both mailed to me as preapprovals one month a part with the Bucks Back Visa Cash Card being first. How they are similar products is beyond me other than they were both credit cards. At the time the Bucks Back Visa was 1% on everything while the FNBO American Express had two versions and the no AF version being 2% on Groceries and Gas with 1% on everything else and a rewards card. Go figure ... I have no clue. Guess it was credit marketing and the timing such as I received the offer for the Bucks Back Visa and took a month to decide so credit marketing saw no active account and figured to try and get me as a FNBO credit card holder by marketing the FNBO AX (anotherwords essentially they crossed in the mail?). One year later they sent me a preapproval for an FNBO Discover at 0.50% for the first $2500 and then to 1% for the next $10000 and so on (at the time it wasn't bad and then the market for rewards improved leaving the FNBO card products in the backroom). Both Cards are cash back where as their FNBO Maximum Rewards Visa and the FNBO American Express are rewards rather than cash based cards. Today, they lowered the FNBO AX to 1% on rewards along with the FNBO Maximum Rewards Visa. They went on to increase the APRs. When I applied the best rates were 13.99% today they are higher. They have great customer service US based with good credit lines/limits but the rewards and Aprs are "nothing to write mother about." As a guide the FNBO AX is a NPLS Card and the FNBO Maximum Rewards may be issued as a Visa Signature with a NPSL. The FNBO Discover and their other cards are fixed credit limits. There is more but this should answer your questions. Truth, there are way better rewards cards in the market place today.

[TigerRed]

Darn, I was willing to hold out for a better product but couldn't find that I would be offered something better in any of the post here. I hate asking questions here because it's like pulling teeth to get an answer back. Well thanks ArmyVietVet for getting back with me. I guess I will stick this out and see how it goes. They probably won't make a penny off me in interest since I am pif if I decide to use it. Interest rate is too high.