I am 9 months into my relationship with FNBO, and I received an unexpected notice today that my credit line has been reduced to $500, 3% of what it was. FICO (TU) is currently >800. Card was originally $15k with auto CLI to $16.5k a few months ago. Reasons given are:
- Ratio of balance to limit on bank rev or other rev accts too high
- Length of time revolving accounts have been established
- Too many inquiries last 12 months
- Amount owed on revolving accounts is too high
Since the date that they obtained score (752), all of the revolving accounts have since been paid to <2% utilization. I had some not out of the ordinary spend with other revolving accounts that did hit the reports. No single card over 50% and total under 25%. I also used a small portion on Evergreen, which was paid to zero months back. Customer service rep stated that the limit cannot be re-evaluated for 4 months.
This makes the card fairly useless for me. I am confused, as they have my income information already and could easily have called to verify again. Moreover, all of the spend referenced above was covered in cash accounts. I understand it's risk mitigation, but beware if you are relying on this card. No such changes were made to my accounts at any other financials.
@distal_cluster wrote:I am 9 months into my relationship with FNBO, and I received an unexpected notice today that my credit line has been reduced to $500, 3% of what it was. FICO (TU) is currently >800. Card was originally $15k with auto CLI to $16.5k a few months ago. Reasons given are:
- Ratio of balance to limit on bank rev or other rev accts too high
- Length of time revolving accounts have been established
- Too many inquiries last 12 months
- Amount owed on revolving accounts is too high
Since the date that they obtained score (752), all of the revolving accounts have since been paid to <2% utilization. I had some not out of the ordinary spend with other revolving accounts that did hit the reports. No single card over 50% and total under 25%. I also used a small portion on Evergreen, which was paid to zero months back. Customer service rep stated that the limit cannot be re-evaluated for 4 months.
This makes the card fairly useless for me. I am confused, as they have my income information already and could easily have called to verify again. Moreover, all of the spend referenced above was covered in cash accounts. I understand it's risk mitigation, but beware if you are relying on this card. No such changes were made to my accounts at any other financials.
Im sorry to hear this. Thought it had quieted down over at FNBO but it appears they are keeping the cuts coming. Seems that they are cutting the ones who dont have a lengthly relationship with them.
@distal_cluster wrote:I am 9 months into my relationship with FNBO, and I received an unexpected notice today that my credit line has been reduced to $500, 3% of what it was. FICO (TU) is currently >800. Card was originally $15k with auto CLI to $16.5k a few months ago. Reasons given are:
- Ratio of balance to limit on bank rev or other rev accts too high
- Length of time revolving accounts have been established
- Too many inquiries last 12 months
- Amount owed on revolving accounts is too high
Since the date that they obtained score (752), all of the revolving accounts have since been paid to <2% utilization. I had some not out of the ordinary spend with other revolving accounts that did hit the reports. No single card over 50% and total under 25%. I also used a small portion on Evergreen, which was paid to zero months back. Customer service rep stated that the limit cannot be re-evaluated for 4 months.
This makes the card fairly useless for me. I am confused, as they have my income information already and could easily have called to verify again. Moreover, all of the spend referenced above was covered in cash accounts. I understand it's risk mitigation, but beware if you are relying on this card. No such changes were made to my accounts at any other financials.
All I can say is they are crazy. This is ridiculous, and unfair. You're not confused; it's FNBO that's confused.
They literally are crazy. I was looking at my statement yesterday and realized that my interest rate for purchases is 0.0%. Card is only 11 months old so there must be an introductory rate at work presently.
I was also told by a CSR back in September that I'd be eligible for my next increase this month. When I click on "Credit Line Increase" it tells me I have no eligible accounts. So they're not even letting me ask at this point... No rhyme or reason with these guys.
Always have been hesitant about FNBO and it goes way back to when they were the AAA Visa Card issuer for the AAA Midwest Group.
Interest rates were always high, and rewards were not much. Cannot actually pin anything down (flip flopping like a fish on a frozen lake here)? Customer service was the best and all US based in Omaha Nebraska or Yankton South Dakota.
Truth, their credit actions of late are surprising.
They used to be conservative in the beginning and allowed slow growth over time based on performance, DTI along with they were not keen on the pursuit of new credit. Like a low CL $1,000+ and the start awarding CLIs in smaller amounts and converting regular credit cards to Signature after a $5K limit was achieved.
The problems they got into around 2016 was how they handled credit life insurance for credit cards, and the bank owners (private) cleaned house on the related management. As I sit here, I wonder how the family did not know?
All this really is a surprise 
One thing they seldom did was open their bank to the general credit market. They stuck to their bank foot print of seven states!
Exceptions were credit marketing (beyond the banking market foot print) with pre-screened apps and co-branded cards for small banks. They were conservative. A few times between Halloween and News Years they allowed out of the banking foot print area credit card applications to the general population but, you had to seek them out as they did little to advertise. This was not done every year!
How I know all this is, I decided to track First National Bank of Omaha as a curiosity! Follow them regularily ever since! Also, I became a card holder due to co-branding and an outside the market area pre-approved credit application. Later, slipped through the door back in 2017 when they dropped the iron curtain for a few weeks around the holidays! That was when they offered a 2% Cash Back Visa Credit Card (not the Evergreen Card) but in actuality, it is the exact same card with higher minimum interest rate and the Terms & Conditions read the same.
@Anonymous wow... just wow.
