BBVA NBA Card - CLOSED without notice

[FinStar]

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@Anonymous wrote:

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@B335is wrote:
Some of us are still in with NASA.

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I have a CC and a PLOC and both are fine.

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Yes, I still have their Platinum Rewards CC - no issues.

[ecxpa]

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@Anonymous wrote:

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@B335is wrote:
Some of us are still in with NASA.

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I have a CC and a PLOC and both are fine.

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My NASA is still OK too...........just got some offer for a $500 spend.........don't remember what it was ......a gift or something.....wil have to look it up

[longtime_lurker]

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@Anonymous wrote:

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@longtime_lurker wrote:

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@FinStar wrote:

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@longtime_lurker wrote:

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@FinStar wrote:

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@Anonymous wrote:

I seriously hope that I am a one-off closure. 

The thing is, I am not sure WHY I would be a one off closure. My utilization is very low (2%), no lates, no collections, etc.

I'm curious to see the coming week. I REALLY hope that BBVA doesn't go all Oregon CCU on us.

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Yes, something is amisss and what you've shared doesn't make a whole lot of sense.  Other than to correlate what's happened with NASA, BMO Diners or even OCCU.

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I was away from the boards due to hospitality conferences at the time of NASA blowing up, but did NASA end up correcting their generous lending limits?

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Yes, sort of.  Folks were getting instant approvals via email right away with unreal SLs (>$20,000).  Then, as secondary verification processes with those applications had begun, some SLs were eventually slashed or taken away altogether.  Some people still remember the craziness.

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Gotcha. How is that different than PenFed's policy? Don't they have the computer approve you for a large CL, and then manually adjust it down with POI? Still unfortunate if you were looking to BT a large balance or something. 

Ontopic: Was there a change on your profile OP from when you apped to now when they said they closed it? Did the representative say they would send a letter outlining the reason why? Aren't they required to with the CARD Act (this would be adverse action taken by a lender to a consumer)?

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We know that OP went to verification when he applied, but not sure why. I believe that they will send a letter outlining the reasons of closure.

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Gotcha. Could be that verification looked to be okay, but then upon second review noticed a discrepency/something they did not like? I would be very interested to find the outcome of this letter and if other cases pop up. 

[chalupaman]

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@FinStar wrote:

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@chalupaman wrote:

I'm not really surprised. Oddball/more obscure lenders almost always come with a string attached. Stick with the big boy majors. 

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They still do AA popamode.  Barclays, Citi, Chase, FNBO... most of them still close accounts for one reason or another.  Granted, not off the get-go like BMO Diners, OCCU or NASA.  But, let's say you've had your card for a few months and then *poof* ...closed!

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I agree they do that but I'm talking more about cases where the lender decides to close the card right after you got it or they significantly cut the CL. I keep hearing happen more often than not with BMO, NASA, etc.

[CreditMagic7]

Both my Diner's Club cards are still ticking.

[chalupaman]

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@longtime_lurker wrote:

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@chalupaman wrote:

I'm not really surprised. Oddball/more obscure lenders almost always come with a string attached. Stick with the big boy majors. 

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But at the same time, you have to wonder why their systems would allow these approvals. Who approved these systems to go into affect? I can tell you my CU has been very generous and willing to work with me when I struggled, but it wasn't a simple CLI request, or a large instant approval on a new card, it was sitting in a branch or on the phone with a LO asking why you wanted the credit, what it was needed for, etc. 

BBVA is the 34th largest BANK in the US, with 65 billion in assets. That's more than I would have guessed.....also at a size that I would think would lead them to not be that skittish...

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Yup. Sounds like BMO to me in that aspect. Maybe they had some bugs to work out or they got enough people so they're tightening up the approval process. Whether that's an end to the gravy train is another question. We'll have to see, 

[FinStar]

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@CreditMagic7 wrote:

Both my Diner's Club cards are still ticking.

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Yup, both of my BMO Diners twins are still doing pretty well.

[Anonymous]

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@longtime_lurker wrote:

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@Anonymous wrote:

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@longtime_lurker wrote:

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@FinStar wrote:

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@longtime_lurker wrote:

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@FinStar wrote:

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@Anonymous wrote:

I seriously hope that I am a one-off closure. 

The thing is, I am not sure WHY I would be a one off closure. My utilization is very low (2%), no lates, no collections, etc.

I'm curious to see the coming week. I REALLY hope that BBVA doesn't go all Oregon CCU on us.

---

Yes, something is amisss and what you've shared doesn't make a whole lot of sense.  Other than to correlate what's happened with NASA, BMO Diners or even OCCU.

---

I was away from the boards due to hospitality conferences at the time of NASA blowing up, but did NASA end up correcting their generous lending limits?

---

Yes, sort of.  Folks were getting instant approvals via email right away with unreal SLs (>$20,000).  Then, as secondary verification processes with those applications had begun, some SLs were eventually slashed or taken away altogether.  Some people still remember the craziness.

---

Gotcha. How is that different than PenFed's policy? Don't they have the computer approve you for a large CL, and then manually adjust it down with POI? Still unfortunate if you were looking to BT a large balance or something. 

Ontopic: Was there a change on your profile OP from when you apped to now when they said they closed it? Did the representative say they would send a letter outlining the reason why? Aren't they required to with the CARD Act (this would be adverse action taken by a lender to a consumer)?

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We know that OP went to verification when he applied, but not sure why. I believe that they will send a letter outlining the reasons of closure.

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Gotcha. Could be that verification looked to be okay, but then upon second review noticed a discrepency/something they did not like? I would be very interested to find the outcome of this letter and if other cases pop up. 

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We do not know yet, I asked him some questions and waiting for a reply. We are not sure the reason of closure.

[longtime_lurker]

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@kdm31091 wrote:

This kind of makes me happy I don't jump on bandwagon cards. Sorry to hear about this though OP, and I'm not assuming you were a "bandwagon" member.

It seems a lot of people who went for this card have no interest in the NBA and really have no use or benefit for the card. This seemed like one of the least useful bandwagon cards I've seen since I've been here. At least Venture is more or less a useful card if you travel some. This card is useful only for a specific group of people.

Anyway, sorry to hear it OP. Nothing in life is free. If they are handing out approvals like candy, there's a string somewhere and someone sooner or later gets screwed by it in this type of way.

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Agreed, haha. And yeah, Capital One's Venture was a more understandable hype phase, but I still wonder if that was blown up and not nearly as good as members made it (I just saw it like Chase, most of these members already had a Cap1 card, and Chase is very well known here for being more generous on 2nd, 3rd, etc. card apps).

[ecxpa]

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@CreditMagic7 wrote:

Both my Diner's Club cards are still ticking.

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Only got one but it's still fine too.